bank card


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 Fraud: Snow Road On Sept. 23, a Snow Road resident discovered fraudulent use on their debit bank card. John Benson, cleveland, "Cleveland driver arrested after fleeing officers: Parma Heights Police Blotter," 2 Oct. 2019 The team has been responsible for attempts to steal bank card information by hacking into ATM networks to withdraw cash or steal data that could be sold to other criminals. Dan Goodin, Ars Technica, "Meet the three North Korean hacking groups funding the country’s weapons programs," 13 Sep. 2019 The agreement also requires China to act quickly to accept applications from bank cards and payments systems seeking to access the Chinese market, and the deal’s text cites Mastercard, Visa and American Express by name. William Mauldin, WSJ, "U.S., China Sign Deal Easing Trade Tensions," 15 Jan. 2020 The man reported several items missing from his car, including his cell phone, bank cards and gift cards. cleveland, "Break-in, theft of money from safe reported at Mr. Hero: Lyndhurst police blotter," 8 Jan. 2020 One of the men allegedly took $80, a bank card and a iPhone, the victim told police. CBS News, "DaBaby arrested on battery charge in Miami robbery investigation," 3 Jan. 2020 Theft from auto: Allison Road At 6:10 a.m. Nov. 21, it was reported that someone had stolen a wallet containing cash, a driver’s license and two bank cards from an unlocked car parked in a driveway. cleveland, "Drunk man at wrong address tries to enter man’s home: University Heights Police Blotter," 27 Nov. 2019 In advance of the trip, CW-1 would receive a fake ID and bank card. Justin Rohrlich, Quartz, "How a crew of fraudsters allegedly stole $19 million worth of iPhones," 4 June 2019 Her body was found later packed in a suitcase and dumped in a field, while Chan made off with her bank card, cellphone and other valuables. Kelvin Chan,, "Hong Kong formally withdraws the extradition bill that sparked protests," 23 Oct. 2019

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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First Known Use of bank card

1947, in the meaning defined above

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Time Traveler for bank card

Time Traveler

The first known use of bank card was in 1947

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Statistics for bank card

Last Updated

21 Feb 2020

Cite this Entry

“Bank card.” Dictionary, Merriam-Webster, Accessed 25 Feb. 2020.

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More Definitions for bank card

bank card


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


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

More from Merriam-Webster on bank card

Britannica English: Translation of bank card for Arabic Speakers

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