Glossary page


Authentication of a Bank Card User

Method used to identify the user/cardholder of the bank card. There are different forms of authentication: the secret code (PIN) and the signature (on the Multibanco network, the use of PIN is mandatory for all debit cards). You may also be asked for an identification document to verify the signature or to verify that the name on the card matches the identification document. There are some types of terminals where the authentication of the holder is not requested. In Portugal, this happens in some public telephone booths and at tolls on highways or bridges.

ATM (Automated Teller Machine)

Automatic equipment that allows holders of cards with magnetic stripe and/or chip to access services available to these cards, namely, withdraw money from accounts, check balances and account movements, make fund transfers, and deposit money. ATMs can operate in real-time with a connection to the automatic system of the card-issuing entity, or with access to an authorized database containing information related to the current account associated with the debit card.


Back Office

In contrast to the Front Office, the Back office refers to backend operations.


Credit institutions whose activity consists of carrying out financial operations and providing financial services, the most common of which are granting credit and receiving deposits from customers, which it remunerates.

Bank Card

It is a payment instrument, in the form of a plastic card measuring 5.4 x 8.6 cm, provided by the issuing entity to the holder so that they can make payments and/or cash withdrawals and other operations on the associated account.


Bank International Code. Corresponds to a SWIFT standard internationally used as an identification code for banking institutions.


Method of identifying the holder of the payment instrument or the system user through fingerprint, voice recognition, or iris reading.



In financial terms, a cassette tape usually refers to a box for storing notes or coins.

Credit Card

A card indicating that a credit line has been granted to its holder, allowing them to make purchases and/or withdraw cash (“cash advance”) up to a previously agreed limit; the credit granted can be settled in full at the end of a specific period or can be settled partially, with the balance considered an extension of the credit. Interest is charged on the amount of any credit extension, and sometimes an annual fee is charged to the respective holder.


A payment instrument that allows the movement of funds available to holders or their representatives in deposit accounts opened at credit institutions.


Corresponds to a percentage of the value of a transaction as a form of remuneration for intermediary services.

Counterfeiting of Banknotes

Illegal reproduction by graphic methods, photocopying, or others, to imitate the genuine note.

Coin Deposit

Operation whereby coins are placed in a secure location with an accurate description of the operation and its registration. There may or may not have been a change of ownership.

Color-Shifting Element (OVI)

Security elements are present in the right corner on the back of the 50, 100, 200, and 500 euro notes. It consists of the denomination value printed with ink of variable color, depending on the incidence of light.

Counterfeiting of Banknotes

Alteration of the face value or another element of the note to put it into circulation.

Cash Management

Process that controls and documents the circulation of cash in the company.

Card Reader

Stand-alone or non-stand-alone equipment capable of reading and transmitting the information on a card, which can be graphical, magnetic, electronic, or other. The card reader can read in the following ways: manual, motorized, proximity, and contactless.


Generic or metallic form of representation of value


Debit Card

A card that allows its holder to withdraw cash at ATMs or pay for purchases directly with funds from their account at a depository credit institution (it may sometimes include other functions, such as a credit card, prepaid card, or check guarantee card).

Direct Debit

Debit to a bank account, based on a direct debit authorization and a collection instruction transmitted by the creditor or its representative processed through the Direct Debit Scheme (DDS).


Face value of a note. The first series of Euro banknotes includes 7 denominations (5, 10, 20, 50, 100, 200, and 500).


Electronic Money

Value is stored electronically on a smart card or the hard drive of a personal computer.


Considering cash deposit, sale, and payment machines, it is an intermediate cash storage device that can be sent for internal deposits or returned to the user in case of operation cancellation.


Designation of the European currency adopted by the European Council at the Madrid meeting on December 15 and 16, 1995.

Electronic Lock

Lock that can be activated, usually opened, by an electrical signal sent from a decision point.


Front Office

Storefront; in-person customer service operation; Front office can be entirely electronic.


Holographic Element

Security element present in the lower right corner of the front of the 50, 100, 200, and 500 euro notes, consisting of a laminated element with a diffractive effect.


Internet Protocol (IP)

One of the protocols is responsible for identifying machines and networks and correctly routing messages between them on the Internet.


Magnetic Stripe

Electronic security device on the back of the card containing information associated with the cardholder, issuing entity, and type of card. It usually only allows reading of the elements contained therein.


MB Way

Interbank solution that allows for immediate purchases and transfers via smartphone or tablet.


Network/Virtual Money

Electronic money is transferred via telecommunications networks, for example, via the Internet.

Note Deposit

Operation whereby notes are placed in a secure location with an accurate description of the operation and its registration. There may or may not have been a change of ownership.


Payment Card Company

Company holding payment card brands (credit, debit, or prepaid cards) and which may provide a set of services (marketing, processing, etc.) to the card-issuing institutions.

Personal Identification Number (PIN)

A numeric (secret) code that the cardholder may need to use for identification purposes. In electronic transactions, it is equivalent to a signature.


Retailer Card / Loyalty Card

Card issued by non-banking institutions intended to be used in certain commercial establishments. Generally, a credit line has been granted to the cardholder.



Secure compartment for storing money, goods, or valuable documents.

Smart Deposit

Operation of notes and/or coins as described, is associated with an intelligent operation that gives it additional features.

Security Thread

Security elements are present in all denominations of the euro note. The filament is continuous, metalized, magnetic, coded, contains text, and is completely embedded in the paper.


Touch Screen

The screen is equipped with interaction mechanisms that allow the user to act on the displayed data.


Unattended Environment

Environments where the user/client obtains products or services using a machine provided for this purpose, without the presence of a person.


Valuables Transportation Company (VTC)

The company is responsible for the collection, transportation, and handling of valuables and cash (notes and coins)



Figures visible by transparency, formed by differences in thickness of the layer of cotton fiber deposited during the formation of the paper sheet.