What is the difference between Stored-Value cards, ATM cards, Debit Cards, etc.?
Although these terms originated from differing product types, in common usage, they are often used interchangeably. You would be well advised to not assume that anyone else has exactly the same understanding of a term as you do. For example, ATM cards may refer to cards that only work within a given network of ATMs. That network could consist of 5 ATMs or 500,000 ATMs. As an ATM card, the person may be referring to the ATM capabilities of a debit card that does much more. You don’t know unless you ask. Debit cards can refer to ATM cards or Stored-Value cards, but can usually be categorized as either PIN based cards or Signature based cards. Signature based cards are more flexible, but often come with a considerable financial risk to the company. Stored-Value cards could refer to any of the above cards or Smart Cards or Gift Cards. At ReadyCash, although we may use these terms occasionally, more often, we refer to a particular product (eg. Maestro, or MasterCard Signature Debit) and def
Although these terms originated from differing product types, in common usage, they are often used interchangeably. You would be well advised to not assume that anyone else has exactly the same understanding of a term as you do. For example, ATM cards may refer to cards that only work within a given network of ATMs. That network could consist of 5 ATMs or 500,000 ATMs. As an ATM card, the person may be referring to the ATM capabilities of a debit card that does much more. You don’t know unless you ask. Debit cards can refer to ATM cards or Stored-Value cards, but can usually be categorized as either PIN based cards or Signature based cards. Signature based cards are more flexible, but often come with a considerable financial risk to the company. Stored-Value cards could refer to any of the above cards or Smart Cards or Gift Cards. At ReadyCash, although we may use these terms occasionally, more often, we refer to a particular product (eg. Maestro, or MasterCard Signature Debit) and def
