| (a) Definitions. The following words and terms, when
used in this section, shall have the following meanings, unless the
context clearly indicates otherwise:
(1) ATM card--An automated teller machine card which
allows the holder to withdraw money directly from the holder's bank
account. An ATM card is ordinarily utilized in conjunction with a
PIN selected by the holder.
(2) Check card--Another name for a debit card, a check
card may display the logo of the banking institution where the funds
supporting the card are held in account.
(3) Debit card--A card which may be used as a means
of payment under arrangements which do not provide for the extension
of credit to the cardholder. The use of a debit card results in a
deduction of the transaction amount directly from the cardholder's
bank account maintained at the authorizing banking institution. Debit
cards come in two forms commonly known as ATM cards and check cards.
(4) PIN--A personal identification number which is
used as a secure or protected password used in conjunction with a
debit card. A PIN may sometimes be used as an electronic signature
in transactions involving a debit card.
(5) PIN pad--Equipment which may be leased from a vendor
and used to identify debit card holders by verifying the authorized
PIN submitted during a debit card transaction.
(b) A debit card may be accepted only in place of United
States currency or a check drawn on a funded bank account.
(c) Records.
(1) Upon request, a debit card transaction sales receipt
must be provided to the purchaser that uses a debit card to buy or
use bingo paper/cards, electronic bingo devices or pull tabs. An electronic
or hard copy of the debit card transaction sales receipt must be kept
by the licensed authorized organization or Unit in order to substantiate
compliance with the Bingo Enabling Act and the Charitable Bingo Administrative
Rules.
(2) Each licensed authorized organization or unit which
accepts payment by debit card must maintain records to substantiate:
(A) the timely deposit of funds derived from debit
card transactions into the organization's or unit's bingo account;
and
(B) the fees and expenses related to debit card transactions
during the calendar quarter in which the debit card transactions occurred.
(3) All debit card transactions must be reported on
the quarterly reports covering the time period in which the transactions
occurred.
(4) All records relating to debit card transactions
must be kept for four years.
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