Shadow account

Shadow account is a term that is often used colloquially when referring to the stock exchange clearing account. It is also known as a pool account.

This is a virtual account that is created for the holder of an EC or debit card with a chip at a registry office . It is used in connection with electronic payment by cash card : When the cash card is topped up, the cardholder's current account is debited and the amount is credited to the stock exchange clearing account at the same time.

If the cardholder pays at a machine with a cash card and the machine operator then submits his transactions to his bank , the so-called shadow balance (hence the common name "shadow account") is reduced accordingly by the amounts paid.

In this way, the bank can see what amount of money is still on the chip. Advantage: If the money card breaks, the credit is not immediately lost. In this case, the cardholder receives the equivalent of the shadow balance credited back to his account.