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Abank card is typically aplastic card issued by abank to its clients that performs one or more of a number of services that relate to giving the client access to abank account.
Physically, a bank card will usually have the client's name, the issuer's name, and a unique card number printed on it.[1] It will have amagnetic strip on the back enabling various machines to read and access information.[2] Depending on the issuing bank and the preferences of the client, this may allow the card to be used as anATM card, enabling transactions at automated teller machines; or as adebit card, linked to the client's bank account and able to be used for making purchases at thepoint of sale with a bank card using apayment terminal. Later, in 2010s,smart card technology was adopted for bank card.
The first bank cards were ATM cards issued byBarclays inLondon, in 1967, and byChemical Bank inLong Island,New York, in 1969.[3] In 1972,Lloyds Bank issued the first bank card to feature apersonal identification number (PIN) for security along with the information-encoding magnetic strip.[4]
Historically, bank cards have also served the purpose of acheque guarantee card, a now almost defunct system to guarantee cheques at points of sale.
