What types of bank cards do you know? It would seem that the question is completely uncomplicated and does not require “hall help”. However, the classification of this banking product is quite complicated. More precisely, it’s not that complicated, but vast. Let's dwell on each of the classification criteria in more detail.
Firstly, all types of
bank plastic cards vary depending on the field of application: plastic of international, domestic or private payment systems. In the first case, settlements can be made in any country in the world, in the second - only within the borders of one country, in the third - within the framework of a
payment system owned by the issuing bank.
By the way, any bank card, depending on who owns the card account, can be:
• personal - issued to individuals who are both the account holder and plastic holder at the same time. However, this is not always the case. A loving father, for example, can open additional cards for his children, which will be tied to the main one. A good solution for families with students;
• corporate - is issued only to legal entities. Accordingly, holders are employees of a particular organization who use its funds in accordance with the norms of domestic law;
• personalized - these include all types of bank cards with information data printed on them (surname and name of the holder, validity period, bank logo, sign of the payment system).
The second criterion is the type of account that the holder accesses. There are debit and credit card accounts. Everything is simple here: the first ones allow the plastic owner to make purchases and cash withdrawals only within the limits of the funds available on the account, while the second ones make it possible to borrow money from the issuing bank (with all the attendant interest, the need to pay off and other things). By the way, many citizens believe that the product in question can be either credit or debit - the rest of the classification features are not discussed.
Depending on the technologies used, the following types of bank cards are distinguished - embossed, with a magnetic strip, with a microprocessor (chip). This is the third classification criterion. An embossed is a map on the surface of which information is represented by convex symbols. This is done in order to make it easier to transfer the holder data using special paper and a device called imprinter. The magnetic strip and the chip (which is the microprocessor) are two sides of the same coin. In the sense that both of these elements contain all the information necessary for the operation. Only a microprocessor is considered a more secure storage than a magnetic strip. Because chip plastic is more expensive.
Finally, all existing types of bank cards can be classified depending on the client segment for which they are designed. Here we are talking about ordinary and premium products of financial institutions. It is clear that a citizen receiving a salary through a card, insurance, valid when traveling abroad, is completely useless. Normal plastic is quite enough for him. But already VIP-clients cannot imagine their life without “gold” and “platinum” cards. This is not only a convenient financial instrument that gives a lot of advantages, but also a detail emphasizing the special social status.