Term Financial products
Debit card
بطاقة الخصم bitaqat al-khasm اقرأها بالعربية ←
A card linked to your bank account that deducts money directly from your balance when you use it, so you spend only what you have.
What does it mean?
A debit card is a payment card connected to a checking or savings account. When you use it to buy something or withdraw cash, the amount is taken immediately from your account balance. The card carries your name and a unique number, and transactions are authorized by a PIN or signature depending on the amount and the merchant's system.
Why should I care?
A debit card lets you access your money without carrying cash, and it enforces a hard limit: you cannot spend more than your balance unless your bank offers an TermOverdraftالسحب على المكشوفA credit arrangement that lets you withdraw more than your account balance, with interest charged on the amount overdrawn.Open the term facility. This makes it a tool for spending control rather than borrowing. Unlike a TermCredit cardبطاقة ائتمانA card that lets you borrow money to pay for purchases now and repay the bank later, usually with interest.Open the term, which lets you defer payment and accumulate debt, a debit card settles instantly. You also avoid interest charges and the risk of carrying a balance forward. The trade-off is that you have no grace period and no purchase protection in the way a credit card offers it, though many banks and card networks now provide some fraud liability TermInsuranceالتأمينA contract where you pay a regular fee to transfer the financial risk of a specific event to a company that agrees to cover the cost if it happens.Open the term.
What should I know?
- A debit card is not a loan. Money leaves your account the moment the transaction clears, so you cannot build a credit history through it the way you can with a credit card.
- Fraud liability varies by bank and card network. Check your bank's terms to understand what happens if your card is stolen or used without permission.
- Some merchants place a temporary hold on your account when you use a debit card, which can temporarily reduce your available balance even if the transaction has not yet settled.
- International transactions may carry TermForeign exchangeالصرف الأجنبيThe market where one currency is traded for another, at a rate that changes constantly based on supply and demand.Open the term fees and conversion charges that are deducted from your account.
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