Electronic debit transaction

Electronic debit transaction (1) Means the use of a debit card by a person as a form of payment in the United States to initiate a debit to an account, and
(2) Does not include transactions initiated at an ATM, including cash withdrawals and balance transfers initiated at an ATM.
(i) General-use prepaid card means a card, or other payment code or device, that is -
(1) Issued on a prepaid basis in a specified amount, whether or not that amount may be increased or reloaded, in exchange for payment; and
(2) Redeemable upon presentation at multiple, unaffiliated merchants for goods or services.

Source

12 CFR § 235.2


Scoping language

For purposes of this part:

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