Plastic cards that have a certain amount of funds embedded on a magnetic strip are called

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The term "stored-value" refers to the fact that the card holds a pre-determined amount of funds that are stored electronically, rather than relying on a line of credit like a credit card. Debit cards, while similar, are linked directly to a checking account and typically do not have a stored-value feature. Carbon-copy written checks and credit cards do not involve a magnetic strip and are not used to store funds in the same way.

Plastic Cards That Have a Certain Amount of Funds Embedded