Stephen Sprunk wrote:
On 25-Jan-12 02:14, Roland Perry wrote:
Mark Goodge remarked:

At least in US parlance, a "credit card" is linked to a "revolving"
credit account, i.e. you are not required to pay the full balance every
month. A "charge card" is linked to a credit account that is _not_
revolving.

For completeness, a "debit card" is one linked to a deposit account, and
a "payment card" is the generic form for any of the three types.

UK terminology is the same.

Although a "deposit account" is the UK term for a long term savings
account, and most people will only have a debit card linked to checking
(aka current) account.

At least in US parlance, a "deposit account" is a checking, savings or
time deposit account. See:
http://en.wikipedia.org/wiki/Deposit_account

A time versus demand deposit account has to do with the bank's cash
position and assets on its balance sheet. They wouldn't be terms
used in retail banking. Fewer assets back time deposits, as the assumption
is made that not everyone will withdraw from these accounts at once, and
if they do, the bank can prevent them from having immediate access to
their money. In retail banking, certificate of deposit (CD) would be
the term used for these types of accounts.

Prior to the late aughts, assets had to be real, even.

How many British bank customers lost money in Iceland?