About SIBL Debit Card:
A debit card (also known as a bank card or check card) is plastic cart that provides the cardholder electronic access to his or her bank account(s) at a financial institution. Some cards have a stored value with which a payment is made, while most relay a message to the cardholder's bank to withdraw funds from a designated account in favor of the payee's designated bank account. The card can be used as an alternative payment method to cash when making purchases. In some cases, the cards are designed exclusively for use on the Internet, and so there is no physical card.1 2
An electronic card issued by a bank which allows bank clients access to their account to withdraw cash or pay for goods and services. This removes the need for bank clients to go to the bank to remove cash from their account as they can now just go to an ATM or pay electronically at merchant locations. This type of card, as a form of payment, also removes the need for checks as the debit card immediately transfers money from the client's account to the business account.
- A card issued by a bank that combines the functions of an ATM card checks.
- A debit card can be used withdraw cash at a bank like an ATM cart, and it can also be used at stores to pay for goods and services in place of a check.
- Unlike a credit card, a debit card automatically withdraws money from your checking account at the time of the transaction.
SIBL VISA Electron
- Visa Electron cards are issued against customers account maintained with any of our branches. Cards are issued against the following accounts:
- Mudaraba Savings Deposit - Staff
- Mudaraba Savings Deposit - Client
- Al-wadiah Current Deposit - Client
- Mudaraba Notice deposit - Client
- SIBL Young Star Account - client
- Round the clock transaction facility
- Directly linked to Cardholders Account at SIBL
- Balance Inquiry
- PIN Change
- Mini statement
- Accepted for purchase at all VISA terminal
- Minimizing risk of carrying cash