What is a GeldKarte (debit card)?

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Sometimes just buy five rolls or pull a pack of cigarettes from vending machines without having to have the right change in your wallet have: This is the idea behind the cash card. It is virtually an electronic purse, small amounts can be paid from the. The advantage over the otherwise common payment options like ec-/Maestro, checking and credit card lies in the fact that neither a signature nor a personal identification number are required to complete the process. The “administrative burden” for the transactions is minimized and it is clearly ahead at the checkout quickly.

Saw the start of 1996

The cash card was introduced in 1996. It will be offered as a standalone product – be upgraded or supplemented or as an additional feature, the ec-cards – but rather rare. To recognize the cards on her round, held in blue and red logo with the words “cash card”. The most important part of the card is the chip. It serves as a memory in which the current balance is stated.

Charging money card

On average, the German book about 30 euros to their cash card (as of 2010). The charge simply realized at an ATM.Today, most machines are equipped with this technology. You can charge at any ATM with the chip then any money cards. This is ideal for all direct banking customers.

If the GeldKarte (debit card) at a checking account is linked, what with cash card function is the rule for ec-card, the amount is deducted directly from the deposit account. If, however, an account unbound map, it requires a loading terminal, which has two card slots. Then the credit is booked on a ec-/Maestro card on the cash card. If a smart card reader is present, the card can be filled since 2007, via PC and online banking again. The maximum amount is 200 euros in all variants.

Pay by card

To pay later with the money card, it is inserted into the corresponding terminal, confirmed just like a credit or other bank card, and the amount of a button. At the same time the sum is deducted from the balance. In the background while working a so-called shadow account, which is maintained by the dealer central registry for each GeldKarte (debit card). This account not only the money card number is stored, but every payment and charging. Prerequisite is that the cash card can be used at all: The dealer has completed for a cash card acceptance agreement with his bank.

Advantages and disadvantages of the cash card

The ease of use certainly speaks for the money card. In addition, it is used for age verification – for example on cigarette vending machines – and can also be used for electronic tickets. On the other hand, cash card and cash card function will only be accepted in Germany, can not transfer the credit and the credit risk of a total loss, should the card be lost or stolen. Since no user identification is necessary, anyone can pay with a GeldKarte (debit card), whether it belongs to him or not.

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