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Offline Debit Card

What is 'Offline Debit Card'

A card that combines characteristics of both a traditional (online) debit card and a credit card, allowing the cardholder to pay for goods and services directly from his or her bank account. As with a traditional debit card, a transaction using the offline debit card creates a debit against the cardholder's bank account. But unlike with a traditional debit card, no PIN is required during the transaction - all that is required is the user's signature. These cards are generally issued by credit card companies in association with the bank in which the account is held.

Also known as "check cards".

Explaining 'Offline Debit Card'

This type of card will often have a maximum daily limit. If this is not the case, the maximum amount is based on the funds held in the underlying bank account. Because this debit card is "offline", the bank account is not accessed directly, meaning there's a delay of 24 to 72 hours before the amount of a purchase is debited from the account.


Further Reading


Banking the poor: policies to bring low-income Americans into financial mainstream
papers.ssrn.com [PDF]
… and offline debit is likely to result in lower interchange fees for offline debit as Visa … costs for each firm, or even create “surcharge free alliances” among debit networks in … towards an increasing range of financial services—including bill payment, savings, and bank accounts—for …

The economics of mobile payments: Understanding stakeholder issues for an emerging financial technology applicationThe economics of mobile payments: Understanding stakeholder issues for an emerging financial technology application
www.sciencedirect.com [PDF]
… and offline debit is likely to result in lower interchange fees for offline debit as Visa … costs for each firm, or even create “surcharge free alliances” among debit networks in … towards an increasing range of financial services—including bill payment, savings, and bank accounts—for …

Why use debit instead of credit? Consumer choice in a trillion-dollar marketWhy use debit instead of credit? Consumer choice in a trillion-dollar market
papers.ssrn.com [PDF]
… and offline debit is likely to result in lower interchange fees for offline debit as Visa … costs for each firm, or even create “surcharge free alliances” among debit networks in … towards an increasing range of financial services—including bill payment, savings, and bank accounts—for …

… scoring bank customers direct deposit account transaction activity to match financial behavior to specific acquisition, performance and risk events defined by the bank …… scoring bank customers direct deposit account transaction activity to match financial behavior to specific acquisition, performance and risk events defined by the bank …
patents.google.com [PDF]
… and offline debit is likely to result in lower interchange fees for offline debit as Visa … costs for each firm, or even create “surcharge free alliances” among debit networks in … towards an increasing range of financial services—including bill payment, savings, and bank accounts—for …

To buy or not to buy: Indian consumers' choice of online versus offline channels for air travel purchaseTo buy or not to buy: Indian consumers' choice of online versus offline channels for air travel purchase
www.tandfonline.com [PDF]
… and offline debit is likely to result in lower interchange fees for offline debit as Visa … costs for each firm, or even create “surcharge free alliances” among debit networks in … towards an increasing range of financial services—including bill payment, savings, and bank accounts—for …



Q&A About Offline Debit Card


What does "bank account" mean here?

Bank account refers to an electronic record of funds kept on deposit at a financial institution.

What is the maximum daily limit for this type of card?

There may not be any maximum daily limit, but if there is one it will be based on how much money you have in your bank account. If there isn't one, then it's based on how much money you have in your bank account.

What is a debit card?

A debit card is a plastic payment card that can be used instead of cash when making purchases. It is similar to a credit card, but unlike a credit card, the money is immediately transferred directly from the holder's bank account to pay for the transaction.

How does the offline debit card work?

The offline debit card works by creating a transaction that debits funds from the bank account. No PIN is required during the transaction, only a signature.

How do you make payments with your debit card?

You use your debit card to make payments by entering the amount and signing for it. The merchant will then swipe or insert your debit card into their terminal and enter their PIN number if required. Your bank then pays the merchant directly from your designated bank account.

What is an offline debit card?

An offline debit card combines characteristics of both a traditional (online) debit card and a credit card.

When are funds taken out of my bank account when using this type of card?

Funds are taken out 24-72 hours after purchase with this type of online debit cards. This means that you must have enough money in your bank account to cover all purchases made during those 72 hours or else you will incur overdraft fees from your bank for insufficient funds in your checking/savings accounts.

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