Debit card
Thus the "true" debit card is not so common in Israel, though it has existed since 1994. It is offered by two credit companies in Israel: One is ICC, short for "Israeli Credit Cards" (referred to as "CAL", an acronym formed from its abbreviation in Hebrew), which issues it in the form of a Visa Electron card valid only in Israel. It is offered mainly through the Israel Post (post office) bank (which is not allowed, by regulation, to offer any type of credit) or through Israel Discount Bank, its main owner (where it is branded as "Discount Money Key" card). This branded Israel Discount Bank branded debit card also offered as valid worldwide card, either as Visa Electron or MasterCard Debit cards. The second &amp; more common debit card is offered by the Isracard consortium to its affiliate banks and is branded "Direct". It is valid only in Israel, under its local &amp; unique - though immensely popular - private label brand, as "Isracard Direct" (which was known as "Electro Cheque" until 2002 and while the local brand Isracard is often viewed as a MasterCard for local use only). Since 2006, Isracard has also offered an international version, branded "MasterCard Direct", which is less common. These two debit card brands operate offline in Israel (meaning the transaction operates under the credit cards systems &amp; debited officially from the cardholder account only few days later, after being processed - though reflected on the current account immediately). In 2014 the Isracard Direct card (a.k.a. the valid only in Israel version) was relaunched as Isracash, though the former subbrand still being marketed - &amp; replaced ICC Visa Electron as Israel Post bank debit card.