Definition: Delayed debit card

Category: ECB terminology

A card issued by banks indicating that the holder may charge his/her account up to an authorised limit. It allows holders to make purchases but does not offer extended credit, the full amount of the debt incurred having to be settled at the end of a specified period. The holder is usually charged an annual fee. http://www.ecb.europa.eu/home/glossary/html/glossa.en.html