A bank card is typically a

plastic card Plastic cards usually serve as identity documents, thus providing authentication. In combination with other assets that complement the data stored on the card, like Personal identification number, PIN numbers, they also serve authorization purpose ...

issued by a

bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

to its clients that performs one or more of a number of services that relate to giving the client access to a

bank account A bank account is a financial account maintained by a bank or other financial institution in which the financial transaction A financial transaction is an Contract, agreement, or communication, between a buyer and seller to exchange goods, ...

. Physically, a bank card will usually have the client's name, the issuer's name, and a unique card number printed on it. It will have a magnetic strip on the back enabling various machines to read and access information. Depending on the issuing bank and the preferences of the client, this may allow the card to be used as an

ATM card An ATM card is a dedicated payment card card issued by a financial institution (i.e. a bank) which enables a customer to access their financial accounts via its and others' automated teller machines (ATMs) and, in some countries, to make approve ...

, enabling transactions at automated teller machines; or as a

debit card A debit card, also known as a check card or bank card, is a payment card that can be used in place of cash to make purchases. The card usually consists of the bank's name, a card number, the cardholder's name, and an expiration date, on either ...

, linked to the client's bank account and able to be used for making purchases at the

point of sale The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice f ...

with a bank card using a

payment terminal A payment terminal, also known as a point of sale (POS) terminal, credit card machine, card reader, PIN pad, EFTPOS terminal (or by the older term as PDQ terminal which stands for "Process Data Quickly"), is a device which interfaces with payme ...

. Later, in 2010s,

smart card A smart card (SC), chip card, or integrated circuit card (ICC or IC card), is a card used to control access to a resource. It is typically a plastic credit card-sized card with an Embedded system, embedded integrated circuit (IC) chip. Many smart ...

technology was adopted for bank card. The first bank cards were ATM cards issued by

Barclays Barclays PLC (, occasionally ) is a British multinational universal bank, headquartered in London, England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services ...

London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

, in 1967, and by

Chemical Bank Chemical Bank, headquartered in New York City, was the principal operating subsidiary of Chemical Banking Corporation, a bank holding company. In 1996, it acquired Chase Bank, adopted the Chase name, and became the largest bank in the United Stat ...

Long Island Long Island is a densely populated continental island in southeastern New York (state), New York state, extending into the Atlantic Ocean. It constitutes a significant share of the New York metropolitan area in both population and land are ...

, New York, in 1969. In 1972,

Lloyds Bank Lloyds Bank plc is a major British retail banking, retail and commercial bank with a significant presence across England and Wales. It has traditionally been regarded one of the "Big Four (banking)#England and Wales, Big Four" clearing house ...

issued the first bank card to feature a

personal identification number A personal identification number (PIN; sometimes RAS syndrome, redundantly a PIN code or PIN number) is a numeric (sometimes alpha-numeric) passcode used in the process of authenticating a user accessing a system. The PIN has been the key to faci ...

(PIN) for security along with the information-encoding magnetic strip. Historically, bank cards have also served the purpose of a cheque guarantee card, a now almost defunct system to guarantee cheques at points of sale.

References

{{reflist Banking terms

See also

References