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ATM card

From Wikipedia, the free encyclopedia

A sample picture of a fictional ATM card.An ATM card (also known as a bank card, client card, key card, or cash card) is any payment card issued by a financial institution to its customers which enables a customer to access an automated teller machine (ATM) for transactions such as deposits, cash withdrawals, obtaining account information, and other types of banking transactions. The payment card may be any card which has that feature enabled, and may be a debit, credit, a limited-use ATM or other card. Interbank networks allow the use of ATM cards at ATMs of financial institutions other than those of the issuing institution.

ATM cards can also be used on improvised ATMs, such as merchants' card terminals that deliver ATM features without any cash drawer (commonly referred to as mini ATMs). These terminals can also be used as Cashless scrip ATMs by cashing the fund transfer receipt at the merchant's Cashier.

The first ATM cards were issued by Barclays in London, in 1967, and by Chemical Bank in Long Island, New York, in 1969.

 

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Money market account

From Wikipedia, the free encyclopedia

A money market account (MMA) or money market deposit account (MMDA) is a financial account that pays interest based on current interest rates in the money markets.

Money market accounts typically have a relatively high rate of interest and require a higher minimum balance (anywhere from $1,000 to $10,000 to $25,000) to earn interest or avoid monthly fees. The resulting investment strategy is therefore similar to, and meant to compete with, a money market fund offered by a brokerage. The two account types are otherwise unrelated.

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