Debit card

Friday, 07, Apr 2006 12:00

A debit card is a plastic card linked to a bank account. The card, like a credit card, can be swiped at a counter, used online, or to withdraw cash from an ATM machine.

Most debit cards in the UK are now chip and pin, which means using them in retail outlets requires a four-digit personal identification number to be typed in, instead of signing for goods.

When cash is withdrawn or a purchase made the amount taken out is debited from the user's account.

Debit cards tend to be linked to the Switch/Maestro, Solo, Visa, Cirrus, Delta, or MasterCard systems or a combination of these. Retailers and ATM machines worldwide display which of these they accept, allowing cardholders to make purchases or withdraw cash worldwide (although most account providers charge a fee for foreign use).

Debit cards can also have a cheque guarantee function.

Cash ISAs Savings Products

Company	Account	Notice	Interest		Deposit		Apply
Company	Account	Notice	Paid	AER	Minimum	Maximum	Apply
	Direct ISA*	Instant	Annually	2.75%	£9,000.00	n/a
	2.75% AER tax-free (variable) from £9k+ which includes a 12 month variable rate bonus of 2.25% AER tax-free. Transfer all your tax-free savings in one easy step.
To view this table in full and compare a comprehensive range of Cash and Investment ISAs, visit our compare ISAs pages.

Company	Account	Notice	Interest		Deposit		Apply
Company	Account	Notice	Paid	AER	Minimum	Maximum	Apply
	5 Year e-Bond	5 years	On Maturity	4.75%	£1.00	£3,000,000.00
	A savings bond with great rates. To open an e-Savings Plus account you need to have a Nationwide Current Account (FlexAccount) See site for details.
To view this table in full and compare a comprehensive range of savings products, visit our compare savings pages.