I believe you may be referring to a “debit” card, which is a type of payment card that allows you to access funds directly from your checking account to make purchases or withdraw cash at ATMs.
There are several types of debit cards available, including:
- Standard debit cards: These are the most common type of debit cards and are linked directly to your checking account. You can use them to make purchases, withdraw cash, and transfer funds.
- Prepaid debit cards: These cards are not linked to a checking account and are loaded with a certain amount of money that you can use to make purchases or withdraw cash. You can typically reload these cards with more funds as needed.
- Virtual debit cards: These are essentially digital versions of debit cards that you can use for online purchases. They may be tied to your physical debit card or to a separate account.
- Contactless debit cards: These cards use near-field communication (NFC) technology to allow you to make purchases by simply holding the card near a contactless payment terminal.
- Rewards debit cards: These cards offer rewards, such as cashback or points, for making purchases with the card. The rewards may vary depending on the card issuer and the type of purchases you make.
