What Is an Asset Card?

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  • Written By: Malcolm Tatum
  • Edited By: Bronwyn Harris
  • Last Modified Date: 10 October 2018
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An asset card is a type of bank card that can be used to withdraw funds from the balances of bank account that are associated with that card. Many types of financial institutions offer various kinds of asset cards to their clientele, along with incentives that promote the responsible use of the cards to make purchases. Several different types of transactions can be made using an asset card, including paying for purchases or obtaining a cash advance.

One of the more common examples of the asset card is the bank debit card, sometimes known as a cheque card in different parts of the world. Usually associated with a checking account, the debit card allows users to make use of the balance of funds in the checking account to pay for purchases, rather than having to use cash or credit cards, or write checks on that checking account balance. Users can also often use the cards at different automated teller machines to withdraw cash from the associated accounts. As a security precaution, using this type of asset card normally requires entering some sort of access code when attempting to complete the transaction. If the code entered is not correct, the transaction will fail.


Along with the debit card, there are other examples of the asset card available for use. As online payment services have become more popular, several have chosen what are sometimes referred to as fixed asset cards. Essentially, these cards allow consumers to make purchases using the balance on those payment services accounts in much the same manner that a debit card associated with a checking account allows the user to complete transactions using the account balance.

When considering the use of an asset card, it is often a good idea to explore the ancillary benefits associated with a given card. For example, some financial institutions offer what is known as a cash back bonus for every qualified purchase made using the card. The amount of the bonus is usually expressed in terms of a percentage and may range anywhere from one to five percent. Using a recurring schedule, all qualified purchases are identified and the amount of the cash back bonus is calculated. The sum of the calculation is deposited into the consumer’s account. While there are variances in how often this type of activity takes place, it is not unusual for the provider of an asset card offering a cash back bonus plan to calculate and deposit the amount into the user’s account once each calendar month.



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