CASHPOINT CARD Meaning and
Definition
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A cashpoint card, also known as an ATM card, is a plastic card issued by a bank or financial institution that allows the cardholder to access their bank account via an automated teller machine (ATM), commonly referred to as a cashpoint. The card is linked to the cardholder's bank account and serves as a key to access their account for various banking transactions.
When using a cashpoint card, the cardholder can initiate cash withdrawals from their account using an ATM. They simply insert the card into the designated slot, enter their unique personal identification number (PIN), and follow the on-screen prompts to complete the transaction. The cash is then dispensed by the machine.
In addition to cash withdrawals, a cashpoint card can also be used to check the account balance, deposit money, transfer funds between accounts, and even pay bills at certain ATMs. Some cashpoint cards may also be enabled for contactless payments, allowing users to make purchases at merchants that accept contactless payments.
The cashpoint card provides convenience and accessibility to the cardholder, enabling them to access their funds quickly and securely, without the need to visit a bank branch or interact with a teller. It is widely used by individuals for various financial transactions, offering flexibility and ease of use in managing personal finances.
Common Misspellings for CASHPOINT CARD
- xashpoint card
- vashpoint card
- fashpoint card
- dashpoint card
- czshpoint card
- csshpoint card
- cwshpoint card
- cqshpoint card
- caahpoint card
- cazhpoint card
- caxhpoint card
- cadhpoint card
- caehpoint card
- cawhpoint card
- casgpoint card
- casbpoint card
- casnpoint card
- casjpoint card
- casupoint card
- casypoint card
Etymology of CASHPOINT CARD
The word "cashpoint card" is derived from two sources: "cashpoint" and "card".
1. Cashpoint: The term "cashpoint" originated in the United Kingdom and is a brand name for automated teller machines (ATMs). It was first introduced in the late 1960s by Barclays Bank, and later adopted more widely by other banks and financial institutions. The term "cashpoint" is a combination of "cash" (referring to money) and "point" (indicating a physical location or terminal where transactions occur). Cashpoints allow users to withdraw cash, check account balances, and perform various banking transactions.
2. Card: The term "card" refers to a small, rectangular piece of plastic or similar material used for identification or as a means of payment.
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