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Glossary

DCC (Dynamic currency conversion)
Dynamic Currency Conversion (sometimes known as cardholder preferred currency) is a service that allows cardholders purchasing goods or services outside their own country to be charged in their own currency at the point-of-sale using the latest current exchange rates.
DDA (Dynamic data authentication)
A cryptographic value generated by a chip on a card in an offline environment that uses transaction specific data elements and is verified by a chip-reading device to protect against skimming.
Debit
A charge to or withdrawal from a customer's account. Transactions such as payments by cheque, cash machine withdrawals or credit card purchases in a shop, will create a debit entry to the account.
Debit card
A payment card linked to a bank or a building society account used to pay for goods and services by debiting the holder's account. Debit cards usually also allow the account holder to use the facilities of cash machines.
Debt advice health warning
Debt Advice Health Warnings advise all customers that making only the minimum repayment each month means that money borrowed will take longer to pay off. The Warning also recommends that cardholders having difficulty in making their repayments should contact their card issuer as soon as possible. See ‘Minimum Repayment Health Warning Best Practice Guidelines’.
Default charge
Default charges are charges for missed or late payments.
Deferred interest
Payment plans that offer to delay (or defer) payment of interest during a specified period of time are deferred interest plans. In the retail sector, these are often advertised as charging "no interest until" a certain date. After that date, however, interest that has been accruing since the purchase date is charged to the account.
Delta
An electronic debit card payment scheme offered by Visa.
Diners club
An international card scheme.
Direct debit
A pre-authorised debit on the payer's account initiated by the payee (known as an originator). Direct Debits are typically used to make regular payments for debts such as utility bills and insurance payments; amounts may be variable.
Discharged
When a bankrupt person is legally free of any obligation to repay certain debts.
Dormant account
This is a bank account with infrequent or no use. In the case of credit cards, if no activity is recorded, some card issuers will close the account and revoke charging privileges.This is also called an inactive account.
Due date
The date by which your credit card company must have received the minimum repayment owing on your credit card account. If your credit card company does not receive the minimum amount by this date then you may incur a default charge.
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