Customers may enquire about the time scale involved to establish which part of their balances are cleared and therefore available for withdrawal. Cash paid direct into an account at the branch at which it is held forms part of a cleared balance. Cards A general term for any plastic card which may be used to pay for goods and services or to withdraw cash. Cards which store value on the card, i.e. pre-payment cards, are excluded from this definition. Customers receive regular statements and may pay the balance in full, or in part, usually subject to a certain minimum.
Interest is payable on outstanding balances.
Charge Card - similar to a credit card. It enables customers to pay for purchases, and in some cases to obtain cash advances. When the monthly statement is received, the balance must be paid in full. Debit Card- a card, operating as a substitute for a cheque, that can be used to obtain cash or make a payment at a point of sale. The customer's account is subsequently debited for such a transaction without deferment of payment.