What does the expiration date on a bank card signify?

The expiration date on a bank card is crucial for ensuring the card's security and functionality. It signifies the date embossed or imprinted on the card after which the card is no longer valid for transactions. This timeframe is primarily tied to the card's lifespan and the security measures put in place by the card issuer.

Card issuers typically set expiration dates to encourage cardholders to update their security features and to manage the risk of fraud. After the expiration date has passed, the card will be declined for transactions, and the cardholder will usually receive a replacement card with a new expiration date. This mechanism helps banks maintain the integrity of their financial systems and protect customers from potential misuse of outdated cards.

The other options do not accurately reflect the purpose of the expiration date. Cards are not valid for transactions after the expiration date, regardless of the context of fees, promotions, or validity periods. Hence, the correct understanding of the expiration date focuses on it being the last day the card can be used for payment.