Debit MasterCard

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Debit Mastercard
Mastercard-logo.svg
CitizensBankCard.jpg
Debit MasterCard issued by Citizens Bank
Product type Debit card
Owner MasterCard
Country United States
Related brands Maestro
Markets Worldwide
Website www.mastercard.com

The Debit Mastercard[1] is a debit card. It uses the same systems as the standard MasterCard credit card but does not use a line of credit to the customer, instead relying on funds that the customer has in their bank account.

Algeria[edit]

Several banks offer Credit and Debit Mastercard in Algeria (Algeria Gulf Bank, Banque de Développement Local, Crédit Populaire Agricole).[2]

Argentina[edit]

In 2011, Banco de Córdoba started offering MasterCard Debit to its clients, as a direct competitor to the Visa Débito card. However, this wouldn't be a direct replacement of all Maestro cards in the Argentine market, since it will be analized with each bank.[3]

Australia[edit]

As in the UK, in Australia the Debit Mastercard is a competitor to the Visa Debit cards provided by Visa Inc.[4]

The Debit MasterCard was first launched in Australia by Westpac in 2006[5] as an alternative card for the bank's Cirrus cardholders.

The Commonwealth Bank, ME Bank and Westpac are notable for being the only banks in Australia to issue a Debit MasterCard to any account holder age 16 and older,[6][7][8] whereas other institutions require cardholders to be age 18 or older.

Baltic states[edit]

Swedbank has offered Debit Mastercard in Estonia since 2011, Latvia and Lithuania since 2012. Nordea has offered Debit Mastercard in Latvia since 2016. SEB has offered Debit Mastercard and Visa Debit for years equally in the Baltic states, but since March/April 2014 SEB decided to prefer Debit MasterCard as their main debit card, still somewhat offering also Visa Debit[9][10]

Canada[edit]

Debit Mastercard has been launched in Canada in July 2016 with Bank of Montreal.[11]

Germany[edit]

Deutsche Bank, KT Bank, O2 Banking, Fidor Bank and N26 offer Debit MasterCards to their customers.[12]

Greece[edit]

Eurobank's Debit MasterCard

As of March 2015, all four major Greek banks offer a contactless Debit Mastercard to their clients.

Eurobank Ergasias is replacing its Maestro line of debit cards with a new Debit MasterCard.[13]

The National Bank of Greece (NBG) started replacing its Maestro debit card with a new Debit MasterCard in March 2015.[14] NBG is the last one of the four major Greek banks to offer a Debit MasterCard to its customers, and like Eurobank it only offers this debit card.

The other two major Greek banks offer Debit Mastercard cards as well, but not exclusively. Piraeus Bank has added the option for a MasterCard Debit card[15] alongside the Visa Debit (formerly Visa Electron) card that it had been offering in the past as the exclusive option. Also Alpha Bank offers Debit MasterCard and Debit MasterCard Contactless[16] as one of three options for a debit card. It is not clear which debit card these two banks promote the most to customers that do not have a specific preference.

Philippines[edit]

Debit Cards are accepted in several POS's in the Philippines. Universal banks also offer Debit Mastercards like BDO, Metrobank, Security Bank, PNB, and other banks. However, the Bank of the Philippine Islands hasn't issued a Debit Mastercard yet but has a Cirrus and EPS branding on it.

The central bank, Bangko Sentral ng Pilipinas ordered banks last October 2013 to put up additional measures to guard against fraud and skimming attacks pending the migration to EMV standard by 2017. BDO was the first bank to respond to the central bank, followed by One Network Bank, Metrobank, Chinabank, PSBank, and so on and so forth.

BDO- EMV Debit MasterCard

The country's largest bank, BDO is the first bank to roll out the first-ever Debit MasterCard with an EMV chip in the Philippines. This will not only make BDO at par with global standards for debit card payments with enhanced security features but also ensure the safety and security of its cardholders. "With this rollout, BDO will be the first bank in the country to transact under the MasterCard EMV end-to-end," Edwin Romualdo Reyes said (Executive Vice President, BDO).

United Kingdom[edit]

In the United Kingdom, the Debit Mastercard operates alongside Mastercard's established Maestro debit card scheme, which previously were the only debit cards provided by Mastercard. However, almost all providers have switched to issuing Debit Mastercard instead, as the previous Maestro debit cards are not accepted as widely worldwide, unlike the Debit Mastercard which is accepted worldwide wherever Mastercard is accepted. Although, currently, the Maestro scheme still remains in place. Main issuers of Debit Mastercard are Clydesdale Bank (incorporating Yorkshire Bank), Danske Bank, and Metro Bank.

The Debit Mastercard is a competitor to the Visa Debit cards provided by Visa Inc.

United States[edit]

In the United States, unlike Australia and the United Kingdom, three levels of Debit Mastercard are available: Standard, Enhanced, and World.[17] In 2012, there were four levels of Debit MasterCard available: Standard, Gold, Platinum and World.[18]

See also[edit]

References[edit]

  1. ^ https://www.mastercard.co.uk/en-gb/consumers/find-card-products/debit-cards.html
  2. ^ http://www.dzdinars.com/blog/2013/07/29/carte-visa-mastercard-en-algerie/
  3. ^ http://www.cronista.com/finanzasmercados/Sin-eliminar-Maestro-MasterCard-sale-al--mercado-con-una-nueva-tarjeta-de-debito-20110728-0030.html
  4. ^ "Credit Card | Debit | Products | MasterCard®". Mastercard.com. Retrieved 2012-08-04. 
  5. ^ "Press Office | About Us | MasterCard® Australia". Mastercard.com. Retrieved 2012-08-04. [permanent dead link]
  6. ^ "Commonwealth Bank unveils youth Debit MasterCard - International Business Times". Au.ibtimes.com. Archived from the original on 2012-07-15. Retrieved 2012-08-04. 
  7. ^ http://www.mebank.com.au/pdf/personal/personal_everyday_account_tandc.pdf
  8. ^ http://www.westpac.com.au/personal-banking/bank-accounts/debit-cards/debit-mastercard/ westpac.com.au Retrieved 2012-09-12
  9. ^ "SEB offers customers novel MasterCard debit card". SEB. 10 March 2014. Retrieved 2 July 2014. 
  10. ^ Lakson, Piret (10 March 2014). "SEB eelistab Visa asemel Mastercardi" (in Estonian). Tarbija24 (Postimees). Retrieved 2 July 2014. 
  11. ^ http://www.bmo.com/main/personal/bank-accounts/banking-services?ecid=va-US453EDB4-AKBMO14#debit-mastercard
  12. ^ https://www.mastercard.de/de-de/privatkunden/produkte-features/produkte/debit-mastercard.html
  13. ^ "Eurobank Ergasias - Debit Mastercard". Retrieved 2014-07-12. 
  14. ^ "Debit MasterCard". Retrieved 2015-03-09. 
  15. ^ "Mastercard Debit". Piraeusbank.gr. Retrieved 2014-07-12. 
  16. ^ "ALPHA BANK - bank cards". alphabank.gr. Archived from the original on 2016-04-23. Retrieved 2016-07-01. 
  17. ^ "MasterCard® Debit Cards". Mastercard.com. Retrieved 2015-02-04. 
  18. ^ "MasterCard Debit Cards | MasterCard®". Mastercard.com. Retrieved 2012-08-04. 

External links[edit]