off-line debit card
A debit card which settles transactions by drawing funds from the user's checking account approximately two days after the transaction - similar to the timing for paper checks. In contrast, funds are transferred almost instantaneously when online debit cards are used. Consumers and merchants handle off-line debit cards (also known as check cards) like credit cards. Customers sign a transaction slip but do not need to provide a PIN. (See debit card, settlement, clearing, and PIN in the hard copy dictionary.)
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