bank card

noun

Definition of bank card

: a card (such as a credit card or an ATM card) issued by a bank

Examples of bank card in a Sentence

Recent Examples on the Web

Abdulah Husseini, 36, was found guilty of theft and fraud offenses for the incident in Blackpool, England last September after swiping a bank card and buying cans of lager and other items, Britain's Press Association news agency reported. — Rob Picheta, CNN, "We were on a break-in: Ross from 'Friends' lookalike jailed for theft," 16 Aug. 2019 Protesters took away his passport, bank cards and other personal documents and scattered them on the floor. — Anchorage Daily News, "Hong Kong riot police, armed with pepper spray and batons, clash with protesters at airport," 14 Aug. 2019 Missing property: Warrensville Center Road A woman reported her phone, bank card and $66 cash missing from her shopping cart at Walmart July 14. — cleveland.com, "Panera customer disgusted by man’s personal sex act: South Euclid Police Blotter," 24 July 2019 Authorities said a parolee with a long history of identity theft and credit card scams masqueraded as a ride-share driver downtown and cleaned out the bank accounts of at least four people after gaining access to their bank cards. — William Lee, chicagotribune.com, "Fake ride-share driver cleans out bank accounts of victims in Loop, River North, authorities say," 4 Aug. 2019 The games are priced at $59-89 (Rs4,000-6,099), depending on the base- or full-game version, and comes with a game board, player mats, resource tokens, and voter pegs (to register votes), and vote bank cards, among other things. — Sangeeta Tanwar, Quartz India, "A board game, inspired by a film on Arvind Kejriwal, offers a close look at Indian politics," 16 July 2019 Instead, the government is simply creating reams of electronic money paid into bank accounts, meaning that even small transactions are increasingly being done by bank cards and money transfers rather than in cash. — Anthony Faiola, The Seattle Times, "Venezuela’s inflation rate may hit 1,000,000 percent," 24 July 2018 The ring, along with a number of bank cards and forms of identification, as well as a computer, was in a bag that was stolen. — Ineye Komonibo, Marie Claire, "A 40-Carat Diamond Once Belonging to Empress Eugenie Was Stolen In Paris," 5 Apr. 2019 Given its diminutive size and forward-thinking ethos, Starling has much more liberty to experiment than traditional banks, hence its choice to flip the orientation of its bank card. — Vlad Savov, The Verge, "Portrait bank cards are a thing now," 27 July 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'bank card.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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More Definitions for bank card

bank card

noun

Financial Definition of bank card

What It Is

A bank card is a plastic card issued by a financial institution that allows the user to make purchases with funds either borrowed from or held at that financial institution.

How It Works

The most common bank cards are credit cards and debit cards.

When a consumer uses a bank card to make a purchase, he is essentially authorizing the card issuer (the bank) to pay the merchant on his behalf. The merchant must verify that the card is the user's by swiping the magnetic strip on the back of the card or obtaining identification in other ways (via a personal identification number (PIN) or other identification). Merchants generally like to take bank cards because they are almost immediately paid by the card issuer. Merchants must pay a fee to the card processing company for each transaction, however.

Most bank cards have limits, meaning that there is a maximum amount the user can withdraw or borrow using the card. The issuer determines the limit based on the user's account balance, overdraft protection, credit rating, and/or credit history.

Credit cards are one form of bank card that requires the user to pay his or her balance in full, usually on a monthly basis. If the user does not pay the balance in full, the issuer adds interest to the balance, and this interest compounds for as long as the balance is outstanding. As with credit limits, the user's credit rating and credit history often influence the interest rate on the card, and in some cases, the issuer can raise the interest rate.

Many bank cards also charge a yearly fee, late payment fees, fees for going over a limit, cash-advance fees, and fees for conversion into other currencies.

Why It Matters

Bank cards allow users to avoid carrying cash, earn frequent-flier miles, or earn other "rewards." They are usually accepted around the world. In many cases, the cardholder can get cash advances through ATMs as well. However, interest rates on credit cards are almost always higher than the amount typically charged for personal loans, and consumers with little impulse control often rack up huge balances that they can't repay. Many cardholders also find it easier to burn through their money, and they frequently underestimate the time and money it takes to pay down balances, especially when interest rates are high and minimum payments are low. It is also important to note that bank card numbers are often stolen; therefore, it important for users to protect their privacy and to check their credit reports frequently.

Source: Investing Answers

bank card

noun

English Language Learners Definition of bank card

US : a card (such as a credit card or debit card) that you get from your bank and that you use to pay for things or to get money from an ATM

See the full definition for bank card in the English Language Learners Dictionary

bank card

Definition of bank card

Examples of bank card in a Sentence

First Known Use of bank card

Financial Definition of bank card

English Language Learners Definition of bank card

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