2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
What types of bank cards do you know? It would seem that the question is completely simple and does not require “help from the hall”. However, the classification of this banking product is rather complicated. More precisely, not that difficult, but extensive. Let's look at each of the classification criteria in more detail.
Firstly, all types of bank plastic cards differ depending on the area of application: plastic of international, domestic or private payment systems. In the first case, payments can be made in any country in the world, in the second - only within the borders of one country, in the third - within the payment system, which belongs to the issuing bank.
By the way, any bank card, depending on who is the owner of the card account, can be:
• personal - issued to individuals who are both the account holder and the plastic holder. However, this is not always the case. A loving father, for example, can open additional cards to his children, who will be tied to the main one. A good solution for families with students;
• corporate - issuedonly legal entities. Accordingly, holders are employees of a particular organization who use its funds in accordance with the norms of domestic legislation; • personalized - these include all types of bank cards with information printed on them (name and surname of the holder, expiration date, bank logo, payment system sign).
The second criterion is the type of account that the holder gets access to. There are debit and credit card accounts. Everything is simple here: the former allow the owner of the plastic to make purchases and withdraw cash only within the funds available on the account, while the latter make it possible to borrow funds from the issuing bank (with all the ensuing interest, the need to repay and other things). By the way, many citizens believe that the product in question can be either credit or debit - we are not talking about other classification features.
Depending on the technologies used, the following types of bank cards are distinguished - embossed, with a magnetic stripe, with a microprocessor (chip). This is the third classification criterion. An embossed card is a card on the surface of which information is represented by convex symbols. This is done in order to make it easier to transfer holder data using special paper and a device called an imprinter. The magnetic stripe and the chip (which is the microprocessor) are two sides of the same coin. In the sense that both of these elements contain allinformation necessary for the operation. Only the microprocessor is considered more secure storage than the magnetic stripe. That is why chip plastic costs more. Finally, all existing types of bank cards can be classified depending on the client segment for which they are designed. Here we are talking about ordinary and premium products of financial institutions. It is clear that for a citizen who receives a salary through a card, the insurance that is valid when traveling abroad is completely useless. He's good enough for ordinary plastic. And now VIP-clients cannot imagine their life without "gold" and "platinum" cards. This is not only a convenient financial instrument that provides a lot of advantages, but also a detail that emphasizes a special social status.
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