Spring 2011 No. 9 Debit Card Fundamentals And Their Use .
CLASS Technical Assistance Brief SeriesSpring 2011 No. 9Debit Card Fundamentals and Their Use inGovernment ProgramsBy Cathy Corby Parker, James Wironen, Mollie G. Murphy, and Kevin J. MahoneyThe Community Living Assistance Services and Supports (CLASS) Plan – a groundbreaking component of the AffordableCare Act – creates a voluntary federally-administered insurance program to help individuals pay for needed assistance in aplace they call home if they become functionally limited. Implementation will require knowledge translation from varioussectors, including research and existing public and private programs. This Technical Assistance Brief Series seeks to answerquestions pertinent to developing and implementing the program.This brief describes thehistory and operationof debit cards andprovides examplesof their use ingovernment programsto inform the use ofdebit cards to accessCLASS Plan benefits.Introduction and aHistory of Debit CardsA little over 50 years ago, banksintroduced credit cards. The utility ofthese early credit cards was limited asa payment card and would only workif both the merchant and consumerused the same bank. To address thisissue, major banks formed franchisesso that one bank’s card could beaccepted at another bank’s merchant.These franchises became known as“associations.” Today, Visa andMasterCard are the largest cardassociations and their product offershave expanded beyond credit cards.Card associations play an importantrole in establishing the rules that governuse of payment cards by consumers andbusinesses. To protect the safety andintegrity of the card-based paymentsystem, all payment cards must beissued or guaranteed by a financialinstitution, and each merchant mustbe sponsored into the association by afinancial institution.www.TheSCANFoundation.orgDebit cards were introduced in the 1980’sin the form of Automated Teller Machine(ATM) cards that provided consumerswith 24-hour access to cash in theirbank, checking, and savings accounts. A“debit card” is a plastic payment card thatresembles a credit card but it is linkedto the card owner’s deposit account at abank. When the card is used, it accessesfunds the card owner has in his or herbank account. A Personal IdentificationNumber (PIN) is associated with eachdebit card to protect against unauthorizeduse. To increase convenience forconsumers, banks formed networks andallowed their customers to use ATMsowned by any bank in the network. Anetwork logo was added to the card forconsumers to easily identify the ATMsthat were in the network. To extendthe value of their ATM cards, networksencouraged merchants to install PIN-padsat their cash registers so consumers couldmake purchases with ATM cards. Overtime, ATM cards came to be known as“debit cards.”In the 1990’s, Visa and MasterCardlaunched their own version of debit1
Spring 2011 No. 9“A ‘debit card’is a plasticpayment cardthat resembles acredit card but it islinked to the cardowner’s depositaccount at a bank.When the card isused, it accessesfunds the cardowner has in his orher bank account.”CLASS Technical Assistance Brief Seriescards that did not require use of a PINfor purchases. Instead, the consumersigned the back of the debit card andthis signature could be matched withthe consumer’s signature on the receiptto validate the cardholder. Today, mostdebit cards operate in both modes,carrying one or more network brands andan association brand, allowing purchasesto be authorized either with a PIN or thecardholder’s signature.Originally, debit cards were linked toone or more bank accounts owned bythe cardholder. Around the year 2000, anew form of debit card called a “prepaiddebit card” was launched. The funds onprepaid cards were still kept at a bank,but in a pooled account where the balancewas held in trust for cardholders. Behindthe scenes, balances on each card weretracked in real time so that any onecardholder only had access to the funds inthe trust account associated with his or herprepaid debit card.FIGUREHow Debit Cards WorkWhen a consumer uses a debit card to getcash from an ATM or make a purchase,the ATM or merchant Point of Sale (POS)system sends an electronic request to theassociation or network linked to the card.The association passes the authorizationrequest to the bank that provided thedebit card to the consumer. The bankvalidates that the card has not expired orbeen reported lost or stolen and that thereare sufficient funds available to coverthe amount of the transaction. If a PINis entered for identification, the PIN isalso validated. The bank then sends theapproval or denial transaction back to theassociation or network, who delivers itto the ATM or POS where the cardholderpresented the card. (See Figure below.)Authorization Processing Transaction FlowAuthorizationRequestATM orStore POSSystemCardAssociationor SCANFoundation.org2
Spring 2011 No. 9CLASS Technical Assistance Brief SeriesAll of this happens nearly instantaneously– sometimes in less than one second oftime. And, throughout the authorizationprocess transactions are monitored to lookfor patterns of fraud.“The newer debitcard processingplatformsassociated withprepaid debitcards weredesigned to handlemore complexauthorizationprocedures. Thiscould includelimiting useof the card tocertain categoriesof merchantsor particularmerchantlocations. Itcould also includerestricting useof the card topurchase ofparticular productsor services if themerchant is able tosend informationabout the itemsbeing purchased.”www.TheSCANFoundation.orgThe newer debit card processingplatforms associated with prepaid debitcards were designed to handle morecomplex authorization procedures. Thiscould include limiting use of the cardto certain categories of merchants orparticular merchant locations. It couldalso include restricting use of the cardto purchase of particular products orservices if the merchant is able to sendinformation about the items beingpurchased. Prepaid debit cards can alsohave multiple “purses” associated with asingle card. For example, a prepaid debitcard could have a general spending purseand a savings purse.Debit CardCharacteristicsThere are a wide variety of debit cardproducts in the market. Underlying thisvariation are five debit card characteristicsthat define the capabilities and uses for adebit card. These are: Open Loop vs. Closed Loop —“Open loop” means that the debitcard is connected to an associationor network and the card can be usedat any merchant in the association ornetwork. “Closed loop” is the termused for debit cards that are issued by aparticular retailer and can only be usedfor purchases at that particular retailer.The most common closed loop cards arestore gift cards. Some debit cards arehybrids of open loop and closed loop, inthat they have a network or associationbrand, but they do not work at allmerchants where that brand is accepted. Reloadable vs. Non-Reloadable— Reloadable prepaid cards operatevery much like a bank account and thecard issuer must validate the identityof the cardholder in essentially thesame process as if the consumer wasopening a bank account. Money canbe loaded onto a reloadable card viadirect deposit of pay or governmentbenefits (the same as if the employeror government agency was depositingfunds to a bank account). Consumerscan also load money onto their cardsat retail locations that participate in areload network (such as GreenDot orMoneyGram ) by giving cash to theretail store clerk to load onto the card.Non-reloadable prepaid cards are notassociated with an individual. Becauseof their anonymous nature, there arestrict limits on the dollar amount offunds that can be loaded onto a nonreloadable card. PIN and/or Signature — Debit cardscan be issued with PIN and signaturecardholder authentication, just PIN, orjust signature. When a PIN is used,the card is processed over a networkand the transaction is consideredfinal at the time the authorization isapproved. When a signature is used,the authorization is routed through anassociation, but the merchant mustsend an end-of-day electronic file tothe association with all of the day’sauthorized transactions before themovement of money will occur. Cardsthat allow ATM access must have a3
Spring 2011 No. 9“Debit cards canbe issued withPIN and signaturecardholderauthentication,just PIN, or justsignature. Whena PIN is used, thecard is processedover a network andthe transaction isconsidered finalat the time theauthorization isapproved. When asignature is used,the authorizationis routed throughan association, butthe merchant mustsend an end-ofday electronic fileto the associationwith all of theday’s authorizedtransactions beforethe movement ofmoney will occur.”CLASS Technical Assistance Brief SeriesPIN. Many retailers allow customers toobtain cash back with purchases when aPIN is used. Cards that only use PINsare not able to be used for e-commercepurchases or bill payments at merchantweb sites. Registered or Anonymous — Allreloadable cards must be registeredto a particular individual. Consumerswith non-reloadable cards can registerthe card or use it anonymously. Theadvantage of registering a nonreloadable card is that it can then beused to make e-commerce or telephonepurchases. Many online merchants willnot accept unregistered cards because ofthe high risk of fraud. Primary or Companion Card — Bothbank account-based and prepaid debitcards can have more than one card linkedto a specific account. Two cards can bothaccess the same funds or each card canhave its own balance. Bank accountbased debit cards have one balanceshared by the primary and companioncards. Prepaid debit cards can operatesimilarly, but they can also be set-up toallow the primary cardholder to transferfunds to the companion card. In thatcase, each consumer has access onlyto the funds on his or her card, not thecombined balance.Common Debit CardProductsBy varying the combinations of these fivecard characteristics, debit card providershave created dozens of different debit cardproducts to meet specialized market needs.However, the most widely used debit cardsfall into seven categories, each of which ishighlighted below.www.TheSCANFoundation.org Bank-Account Based Debit Cards— Today, virtually every checkingaccount comes with a debit card. Mostbank-based debit cards have both asignature and PIN. The number onthe bank debit card is linked to one ormore bank accounts. A purchase orwithdrawal using a bank account-baseddebit card may be approved if there arenot sufficient funds in the account, basedupon the bank’s overdraft policies. Fundsin the account associated with the bankdebit card are insured by the FederalDeposit Insurance Corporation (FDIC). Government Benefit Cards — Stateand local government agencies spendmillions of dollars annually printingand mailing checks to benefit recipientsfor programs such as Social Security,unemployment, and court orderedpayments. To reduce costs and increaseconvenience for recipients, governmentagencies have encouraged direct depositof benefits to recipients’ bank accounts.But, the FDIC estimates that in the U.S.17 million people reside in householdswithout bank accounts and another 21million people have a bank account butconduct most of their financial businesswith cash and money orders.1 Thissegment of the population uses checkcashing services, where they can receivetheir funds in cash immediately withoutany hold period, as may be the case witha bank. To drive costs out of delivery ofgovernment payments to unbanked andunderbanked consumers, many agencieshave distributed reloadable prepaid debitcards to recipients who do not specify abank account for direct deposit. Thesedebit cards allow benefit recipientsto withdraw their funds at an ATM orbank teller, and to make purchases in4
Spring 2011 No. 9CLASS Technical Assistance Brief Seriesstores and online. Government agencieswork with the debit card providers toensure that costs for the recipient arelow. Recipients are usually allowed onefree withdrawal after each deposit ofbenefits, and government benefit cardsparticipate in at least one “surchargefree” ATM network. “Surcharge-free”ATM networks allow cardholders towithdraw funds at an ATM without anyfee from the owner of the ATM. Whilefraud does occur with government debitcards, as discussed later in this paper,the incidence and customer impact ofdebit card fraud is substantially lowerthan with check-based distribution ofbenefits. While comparable statisticsare not available, paper checks aresubject to being lost, stolen, or altered;there is no real-time authorizationfor paper checks, as with debit cards;and there are no consumer protectionsassociated with use of checks. Employee Payroll Debit Cards —Employers for decades have promoteddirect deposit of pay to bank accounts inorder to save the expense of producingand distributing paychecks. Manyemployers now provide reloadableprepaid debit cards to employees whodo not specify a bank account for directdeposit of their pay. These payroll debitcards have evolved into “checklesschecking” accounts. Employees candeposit pay from multiple employersto these cards or even keep their cardswhen they change jobs. In manystates, employers can mandate useof a payroll debit card for employeeswho do not specify a bank account fordirect deposit, but they must providethe cards free, with no monthly fees andat least one free withdrawal after eachwww.TheSCANFoundation.orgpayroll deposit. Employers have noability to see card balance or transactioninformation on payroll debit cards. General Purpose Reloadable (GPR)Cards — As their name suggests, GPRcards are reloadable prepaid debit cardsthat can be purchased by consumersfor a variety of uses. Consumers whodon’t have a credit card or bank debitcard often use GPR cards to makepurchases in stores and pay bills moreconveniently than using cash or moneyorders, as well as for making purchasesand paying bills online. Someconsumers have their pay deposited tothe GPR card – in essence, the GPR cardbecomes their bank account. Fees forGPR cards vary widely and can includea fee to purchase the card, a monthlymaintenance fee and reload, ATM, andpurchase transaction fees. Flexible Spending Account (FSA)Cards — Open loop prepaid cardslinked to flexible spending accountsallow in-store and online purchasesdirectly from the funds in the FSA –consumers do not have to file claimsfor reimbursement. FSA cards usesignatures for authentication and donot have PINs or ATM access. Use ofFSA funds is restricted to purchasesof approved medical and healthcareproducts and services. Funds in the FSAcards are legally the property of the planadministrator and can only be loadedto the card by the plan administrator.FSA’s operate on a “plan year” andat the end of the plan year, FSAadministrators zero-out any remainingbalances on the FSA card. Health Savings Account (HSA)Cards — HSA’s are savings accountsassociated with high deductible5
Spring 2011 No. 9CLASS Technical Assistance Brief Seriesinsurance plans. An employeeparticipating in a high-deductibleinsurance plan can open an HSA accountat a bank and either the employee oremployer deposits funds to the HSA.These funds earn interest tax-free andthe funds can be used for out-of-pocketmedical costs. At this time, there is norequirement that HSA account providerssubstantiate that the funds are used formedical purposes, and employees canwithdraw their health savings funds incash through an ATM or bank teller. Gift Cards — Gift cards are nonreloadable prepaid cards that can beeither open loop or closed loop. Theonly way funds on a gift card can beaccessed is to make purchases. Openloop gift cards can be used anywhere theassociation brand is accepted. Closedloop gift cards can only be used at storesowned by or affiliated with the retailerwho issued the card (for example, aHome Depot gift card is acceptedonly at Home Depot stores or the HomeDepot web site). Gift cards can havea predetermined fixed balance or theycan have variable funding with the cardpurchaser specifying the amount at thetime of purchase. Because gift cardsdo not require registration, banks placelimits on the maximum value that can beloaded onto a card to prevent the use ofgift cards in money laundering.The table on page 7 summarizes thefeatures and characteristics of each ofthese major categories of debit cards.www.TheSCANFoundation.orgDebit Card ProvidersThere is an “issuing bank” or “issuer” forevery open loop bank or prepaid debit card.The bank has a fiduciary responsibilityto the associations and networks in thecase of fraud or misuse of the card, and isresponsible for complying with associationand network rules and governmentregulations. There is not a bank issuerassociated with closed loop cards.“Processors” are companies thatprocess debit card transactions, actingon behalf of issuing banks to managedebit cards and authorize and settletransactions. Open loop card processorsaccept authorization requests from theassociations or networks and approve ordeny each transaction. On a daily basis,processors settle with the associations andnetworks to determine how much moneyeach issuing bank owes each associationand network for transactions approved forits cardholders. With closed loop cards,the retailer sends authorization requestsdirectly to its card processing systemor provider. There may be settlementinvolved if a card is purchased in onelocation of a chain or franchise store andredeemed in another location.Processors also provide customer serviceto cardholders, including automatedtelephone access to account informationand balances, an online cardholderweb site and telephone agent customerservice. Particularly in the case ofgovernment benefit programs, the costof providing agent customer service canbe unmanageable if cardholders are notsure how or where to use the card, or if6
Spring 2011 No. 9TableCLASS Technical Assistance Brief SeriesSummary of Characteristics of Widely Used Debit Card ProductsBank AccountBased DebitCardsPayroll DebitCardsGovernmentBenefit CardsGeneral PurposeReloadableCardsFlexibleSpending CardsHealth SavingsAccount CardsGift CardsAccount-Based tPrepaidOpen- or ClosedLoopOpenOpenOpenOpenOpenOpenOpen or ClosedReloadableN/AYesYesYesYesN/ANoATM AccessYesYesYesYesNoYesNoPIN & SignaturePIN & SignaturePIN & SignaturePIN & SignatureSignaturePIN & SignatureSignatureRegistered toIndividualYesYesYesYesYesYesOptionalBank IdentityValidationYesYesYesYesNoYesNoCompanion er FDICInsuranceYesYesYesYesNoYesNoGovernment &AssociationGovernment &AssociationGovernment &AssociationAssociation OnlyAssociation OnlyGovernment &AssociationAssociationOnlyFunding oyerEmployer orEmployeeConsumer orBusinessOwner of yerCardholderCardholderFunder Can SeeBalances/ActivityYesNoNoYesYesNoNoDirect Depositof PayYesYesNoYesNoNoNoReload NetworksN/AOptionalNoYesNoN/ANoSurcharge-FreeATM ptionalNoNoNoType www.TheSCANFoundation.org7
Spring 2011 No. 9“Banks,associations,networks, andprocessorshave createdan extensiveinfrastructure toprotect the safetyand soundness ofthe card paymentsystem. Thereare detailed ruleswith which everymember of anassociation ornetwork mustadhere, as wellas governmentregulations.”CLASS Technical Assistance Brief Seriesthey are confused about whether theirquestion should be directed to the cardprovider or the government agency.Clear communication in the collateralaccompanying government benefit cardsto minimize calls to customer serviceagents is critical.Retailers sell prepaid debit cards toconsumers either in stores or online.Generally, the cards sold in this way areopen loop and closed loop gift cards orgeneral purpose reloadable (GPR) cards.A “card mall” is often used to display anassortment of prepaid cards. Online cardmalls exist as well. Retailers that sellGPR cards generally also participate inprepaid reload networks and consumerscan load funds onto reloadable prepaiddebit cards in their stores.Check cashers, payday lenders and moneytransfer agents often provide GPR cardsto their customers. A portion of fundsfrom cashing a check or loans proceedscan be applied to the GPR card to providecustomers with the convenience of payingwith plastic and the safety of not carryingaround as much cash.Mitigating the Misuseof Debit CardsBanks, associations, networks, andprocessors have created an extensiveinfrastructure to protect the safetyand soundness of the card paymentsystem. There are detailed rules withwhich every member of an associationor network must adhere, as well asgovernment regulations.www.TheSCANFoundation.orgPIN numbers have always been treated ashighly sensitive by banks and never stored“in the clear” – meaning they were alwaysencrypted when stored or in transit. Morerecently, the Payment Card Industry (PCI)Data Security Standard was establishedby the card associations to combat theft ofthe 16-digit credit and debit card numbersand associated cardholder names andcard expiration dates. PCI compliancerequires that any company that processes,stores, or transmits personallyidentifiable payment information mustmaintain a secure environment. Issuersand processors are required to haveannual third party audits to certify theircompliance with PCI standards in orderto maintain their memberships in theassociations. Some states have adoptedlaws requiring compliance with dataprotection rules substantially similar toPCI requirements.The Treasury Department and theFinancial Crimes Enforcement Networkdeveloped regulations, as required bySection 326 of the Patriot Act, to maintain“Customer Identification Programs” (CIP)to protect against use of debit cards byterrorists. These regulations require thatfinancial institutions verify the identityof the person opening a bank accountand check to make sure that individual isnot on the government’s list of suspectedterrorists.To combat fraud through identity theft,the Federal Trade Commission (FTC)implemented the “Red Flags Rule”implementing sections 114 and 315 ofthe Fair and Accurate Credit TransactionsAct of 2003. “Red Flags” requirescard issuers to diligently protect their8
Spring 2011 No. 9“Friendly fraudoccurs when afamily memberor friend usesthe card withoutthe permissionor knowledge ofthe cardholder.Friendly fraudcan be especiallyserious if thecardholder hasdisclosed his or herPIN to a third party,as that individualcan then use thecard and PIN at anATM to withdrawall the money inthe account. Thistype of fraud ismore commonwith governmentbenefit and payrolldebit cards, asthe recipientpopulation is lesslikely to haveexperience withdebit cards. It isimperative thatmessaging toconsumers thataccompaniesdebit cards clearlycommunicatesthe importance ofkeeping the cardsecure and notdisclosing the PINto anybody.”www.TheSCANFoundation.orgCLASS Technical Assistance Brief Seriescardholders from identity theft. In thedebit card world, the focus is on fraudaround address changes. A common scamis for a criminal to acquire a card numberand cardholder name (for example, aserver in a restaurant who takes the cardout of view of the cardholder during theauthorization process). Then the criminalcalls the bank to change the address onthe card and later reports the card lost orstolen. Thus the replacement card, whenmailed, is sent to the criminal. Banks andprocessors now have policies to monitorand validate cardholder address changes.Generally, banks will contact thecardholder to validate the address changeor request proof of the change, such as acopy of a utility bill.Another risk with debit cards is “friendlyfraud.” Friendly fraud occurs when afamily member or friend uses the cardwithout the permission or knowledgeof the cardholder. Friendly fraud canbe especially serious if the cardholderhas disclosed his or her PIN to a thirdparty, as that individual can then use thecard and PIN at an ATM to withdraw allthe money in the account. This type offraud is more common with governmentbenefit and payroll debit cards, as therecipient population is less likely tohave experience with debit cards. It isimperative that messaging to consumersthat accompanies debit cards clearlycommunicates the importance of keepingthe card secure and not disclosing the PINto anybody.An additional area of protection againstfraud relates to loading of funds on thecards. Banks and processors monitordeposits to debit cards to assure that theyare from corporate entities, other banks,government agencies or reload networks,or the cardholder herself/himself in thecase of bank debit cards. The assumptionis that these entities have performed duediligence on the businesses or individualsfrom whom they are accepting funds fordeposit onto debit cards.Cardholder rights in the case of disputesbetween the cardholder and the merchantare governed by association and networkrules for open loop cards. Visa andMasterCard offer zero liability to protectcardholders against unauthorized chargesas long as the cardholder promptlynotifies the issuer.The Federal Reserve also regulates openloop debit cards through “RegulationE” that limits the cardholder’s liabilityfor unauthorized purchases or ATMwithdrawals to 50.00, as long as thecustomer promptly informs the bank.2At this time, Regulation E only appliesto bank account-based debit cards andprepaid payroll and government benefitcards, although some GPR card providersextend the benefits of Regulation E totheir customers. When a cardholderreports a dispute, the amount of thedisputed transaction must be immediatelycredited back to the cardholder. Lossescan occur with false filing of disputesif, upon resolution of the dispute in themerchant’s favor, there are not sufficientfunds to repay the credit that wasextended to the cardholder. However,since both government benefit and payrolldebit cards have recurring deposits, oftenthe losses are recovered upon the nextdeposit to the card.9
Spring 2011 No. 9“Processors,associations,and networkscontinually scanauthorizationrequests to lookfor patterns thatindicate fraudulentactivity. Thesesystems arecomplex neuralnetworks in whichthe financialservices industryhas investedbillions of dollars.Fraud monitoringtakes place atevery level in theprocess, lookingfor abnormalitiesin the activity ofthe card accountitself, the bank’scard portfolio,the processor,the associationor network,the merchant’sprocessor, andthe SS Technical Assistance Brief SeriesRegulation E protects cardholders againstfriendly fraud if the cardholder reportsit. However, cardholders are sometimesreluctant to report the fraud as manycard issuers require the cardholder tofile a police report that would implicatetheir “friend.” Regulation E alsorequires financial institutions to sendcardholders a monthly statement, whichcan be delivered electronically with thecardholder’s consent.There are no third parties protectingconsumer dispute rights with closed loopcards. Any disputes with non-reloadableprepaid cards are resolved directlybetween the retailer and the cardholder.Velocity limits associated with eachdebit card regulate the number and dollarvalue of activities that can be performedon a debit card. Each issuer establishesits own velocity limits and they vary bytype of card program; however, commonrules relate to the maximum daily cashwithdrawal limit, maximum purchasevalue limit, and maximum dollar value ofa prepaid debit card.Processors, associations, and networkscontinually scan authorization requests tolook for patterns that indicate fraudulentactivity. These systems are complexneural networks in which the financialservices industry has invested billionsof dollars. Fraud monitoring takes placeat every level in the process, looking forabnormalities in the activity of the cardaccount itself, the bank’s card portfolio,the processor, the association or network,the merchant’s processor, and theindividual merchant.Debit Cards andGovernment ProgramsBelow are overviews of some of the majortypes of government and tax-preferredemployee benefits debit card programs inuse today.Social Security Benefits — In 2008,the U.S. Treasury Department introducedDirect Express , an open loop reloadableprepaid MasterCard. The new cardallowed government benefit recipientswithout bank accounts to receive theirbenefits by direct deposit to the DirectExpress card rather than a paper check.Social Security is the largest governmentprogram using Direct Express, butthe card is also used for recipients ofSupplemental Security Income, Veterans,Railroad Retirement and Office ofPersonnel Management Benefits. At thetime the Treasury Department launchedthe Direct Express card, there were anestimated 4 million Social Securityrecipients without bank accounts. TheTreasury Department projected savingswould exceed 300 million in the firstfive years alone from depositing benefitpayments to Direct Express cards ratherthan printing and mailing checks.3 Useof Direct Express is voluntary for benefitrecipients. However, in April 2010 theTreasury Department announced thatas of March 2011, electronic deposit ofbenefits (to either a bank account or theDirect Express card) will be required fornew benefit recipients and all existingrecipients receiving paper checks mustconvert to electronic deposit by March10
Spring 2011 No. 9CLASS Technical Assistance Brief Series2013.4 The Direct Express card has a feestructure that allows benefit recipientsto use the card at little or no cost. Thecard is delivered to benefit recipients freeof charge, has no monthly maintenancefees, no charge for customer service,and allows one free US-based ATMtransaction after the monthly depos
For example, a prepaid debit card could have a general spending purse and a savings purse. Debit Card Characteristics There are a wide variety of debit card products in the market. Underlying this variation are five debit card ch
MCU DEBIT CARD AGREEMENT: This agreement describes how to use your MCU Debit Card and explains your rights and responsibilities as an MCU Debit Card user. When you signed the MCU Debit Card application, you agreed in writing to be bound by this agreement. Your use of MCU Debit Card s
Karakteristik debit aliran yang terjadi pada suatu aliran sungai juga dapat dilihat dengan membuat hidrograf debit. Hidrograf debit adalah suatu grafik yang menggambarkan peristiwa naik turunnya debit yang terjadi pada suatu aliran sungai menurut waktu tertentu tergantung pada sifat hujan dan kondisi biofisik sungai .
consumers pay more for identical products using debit cards compared to cash. There are three reasons for comparing cash and debit cards. First, debit cards are attractive to study since debit card transactions, just as cash, are ubiqui
Card Contractor System. On the Debit Card Contractor System, the different agency records create different Debit Card accounts, resulting in a recipient receiving both Child Support and Unemployment Insurance having two (2) debit
TALLY (ERP 9 Release 6.4.7) RULES OF DEBIT AND CREDIT Items Increase Decrease Expenditure/ Loss Debit Credit Assets Debit Credit Income/ Profit Credit Debit Liabilities Credit Debit 8 Types of Journals in MANUAL accounting: Journal Type Purpose 1.Cash Book All Cash/bank transactions including Contra entries 2.
With Visa Debit on a bank card, both Visa Debit and other network provider logos (e.g. Interac ) may be displayed. Virtual Visa Debit With Virtual Visa Debit customers can shop online, over the phone or by mail order and safely pay directly from their bank account. 123 AUTHORIZED SIGNATUR
CHAPTER 2 Analyzing Transactions PE 2-1A 1. Debit and credit entries (c), normal debit balance 2. Credit entries only (b), normal credit balance 3. Credit entries only (b), normal credit balance 4. Debit entries only (a), normal debit balance 5. Credit entries only (b), normal credit balance 6. Debit and credit entries (c), normal credit balance
At the Animal Nutrition Group (ANU), a student can conduct research for a thesis with a workload of 18, 21, 24, 27, 30, 33 (Minor thesis), 36 or 39 ECTS (Major thesis). The aim of this thesis research is to train the students’ academic skills by means of an in-depth, scientific study on a subject of interest. With completion of the thesis, you have demonstrated that you can conduct a .
