As used in this subchapter:
(1) “Debit card” means any card issued by a financial institution to a consumer for use in initiating an electronic fund transfer from the account of the consumer at the financial institution for the purpose of transferring money between accounts or obtaining money, property, labor, or services;
(2) “Dormancy fee” or “inactivity charge or fee” means a fee, a charge, or a penalty for nonuse or inactivity of a gift certificate, a store gift card, or a prepaid general use card;
(3) “Financial institution” means a state or national bank, a state or federal savings and loan association, a mutual savings bank, a state or federal credit union, or any other person that, directly or indirectly, holds a transaction account belonging to a consumer;
(4)
(A) “General use prepaid card” means a card or other electronic payment device issued by a bank or financial institution that is:
(i) Usable at multiple, unaffiliated merchants or service providers or at automated teller machines;
(ii) Issued in a requested amount whether or not that amount may be, at the option of the issuer, increased in value or reloaded if requested by the holder;
(iii) Purchased or loaded on a prepaid basis; and
(iv) Honored, upon presentation, by merchants for goods or services or at automated teller machines.
(B) “General use prepaid card” does not include:
(i) A debit card that is linked to a demand deposit account or a share draft account; and
(ii) A written promise, plastic card, or other electronic device that is:
(a) Used solely for telephone services; or
(b) Associated with a demand deposit account, checking account, savings account, or similar account in the name of the individual at a bank or financial institution that provides payment solely by debiting the account;
(5)
(A) “Gift certificate” means a written promise that is:
(i) Usable at a single merchant or an affiliated group of merchants that share the same name, mark, or logo;
(ii) Issued in a specific amount and cannot be increased;
(iii) Purchased on a prepaid basis in exchange for payment; and
(iv) Honored upon presentation by the single merchant or affiliated group of merchants for goods or services.
(B) “Gift certificate” does not include a written promise, plastic card, or other electronic device that is:
(i) Used solely for telephone services; or
(ii) Associated with a demand deposit account, checking account, savings account, or similar account in the name of the individual at a bank or financial institution that provides payment solely by debiting the account;
(6) “Service fee” means a periodic fee, a charge, or a penalty for holding or use of a gift certificate, a store card, or a prepaid general use card;
(7)
(A) “Store gift card” means a plastic card or other electronic payment device that is:
(i) Usable at a single merchant or an affiliated group of merchants that share the same name, mark, or logo;
(ii) Issued in a specified amount and may or may not be increased in value or reloaded;
(iii) Purchased on a prepaid basis in exchange for payment; and
(iv) Honored upon presentation by the single merchant or affiliated group of merchants for goods or services.
(B) “Store gift card” does not include a written promise, plastic card, or other electronic device that is:
(i) Used solely for telephone services; or
(ii) Associated with a demand deposit account, checking account, savings account, or similar account in the name of the individual at a bank or financial institution that provides payment solely by debiting the account; and
(8)
(A) “Transaction account” means a deposit or an account on which the depositor or account holder is permitted to make withdrawals by negotiable or transferable instrument, a payment order of withdrawal, telephone transfer, or other similar method for the purpose of making payments or transfers to third persons or others.
(B) “Transaction account” includes demand deposits, negotiable order of withdrawal accounts, savings deposits subject to automatic transfers, and share draft accounts.