Bankcard: meaning, definitions and examples
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bankcard
[ ˈbæŋk.kɑːrd ]
financial transaction
A bankcard is a plastic card issued by a financial institution, allowing the cardholder to access their bank account electronically. This card can be used for cash withdrawals from ATMs and for making purchases at various merchants. Bankcards come with a magnetic stripe or chip that stores the cardholder's account information securely, enabling transactions to be processed quickly and efficiently. They may include other features such as contactless payment options and rewards programs, making them a convenient tool for managing finances.
Synonyms
ATM card, credit card, debit card.
Examples of usage
- I used my bankcard to pay for groceries.
- She withdrew cash from the ATM using her bankcard.
- Many stores accept bankcards for payment.
Translations
Translations of the word "bankcard" in other languages:
🇵🇹 cartão bancário
🇮🇳 बैंक कार्ड
🇩🇪 Bankkarte
🇮🇩 kartu bank
🇺🇦 банківська картка
🇵🇱 karta bankowa
🇯🇵 バンクカード
🇫🇷 carte bancaire
🇪🇸 tarjeta bancaria
🇹🇷 banka kartı
🇰🇷 은행 카드
🇸🇦 بطاقة مصرفية
🇨🇿 bankovní karta
🇸🇰 banková karta
🇨🇳 银行卡
🇸🇮 bančna kartica
🇮🇸 banka kort
🇰🇿 банк картасы
🇬🇪 ბანკის ბარათი
🇦🇿 bank kartı
🇲🇽 tarjeta bancaria
Etymology
The term 'bankcard' was first used in the 1960s as electronic payment systems began to gain popularity. With the advent of automated teller machines (ATMs) and electronic funds transfer systems, the concept of a card representing an account became common. Initially, bankcards were primarily linked to checking accounts, allowing customers to withdraw cash without the need for physical checks. As credit systems evolved and consumer demand increased, financial institutions began issuing credit cards as a separate category of bankcard, providing users with a line of credit. The standardization of card technology, including the introduction of magnetic stripes and EMV chips in the 1980s and 1990s, further enhanced the security and functionality of bankcards. Today, bankcards are integral to personal finance, offering convenience and efficiency in transactions across the globe.