Debit Mastercard

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Mastercard Debit
Debit Mastercard logo.svg
Product typeDebit card
OwnerMastercard Inc.
CountryUnited States
Related brandsMastercard Maestro
MarketsWorldwide
Tagline"Start Something Priceless"
Websitewww.mastercard.com

Debit Mastercard is a brand of debit cards provided by Mastercard. They use the same systems as standard Mastercard credit cards but they do not use a line of credit to the customer, instead relying on funds that the customer has in their bank account.[1]

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 Debit Mastercard to its clients, as a direct competitor to the Visa Débito card. However, this would not be a direct replacement of all Maestro cards in the Argentine market, since it will be analyzed with each bank.[3]

Australia[edit]

In Australia, the Debit Mastercard is the main competitor to the Visa Debit cards provided by Visa Inc.[4]

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

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 aged 16 years and older,[6][7][8] whereas other institutions require cardholders to be age 18 or older. Notably, Bendigo Bank offers a debit MasterCard for students aged 12 years and over.[9]

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.[10][11]

Canada[edit]

Debit Mastercard was launched in Canada in July 2016 with Bank of Montreal. Similar to most Canadian Visa Debit cards, BMO's Debit Mastercard is co-branded with Interac and operates solely over that network for point-of-sale transactions in Canada, but uses the Mastercard network for Internet and international transactions.[12]

Germany[edit]

Deutsche Bank, Commerzbank, Norisbank, Consors Finanz, MLP, netbank, KT Bank, O2 Banking, Fidor Bank and N26 offer the Debit Mastercard to their customers.[13] In Germany, the Debit Mastercard is a competitor to the national Girocard.[14]

Greece[edit]

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.[15]

The National Bank of Greece (NBG) started replacing its Maestro debit card with a new Debit Mastercard in March 2015.[16] 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[17] 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[18] 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.

Hong Kong[edit]

As of January 2021, HSBC,[19] Citibank,[20] WeLab Bank[21] Livi Bank[22] & Mox Bank[23] offer a contactless Debit Mastercard to their clients in virtual and/or physical plastic card.

Netherlands[edit]

bunq bank issues a Debit Mastercard to its premium customers.[24] Additionally, ICS issues MasterCard and VISA debit cards including 180-day insurance, which is normally not available on debit cards in the Netherlands.[25]

Philippines[edit]

Major banks like BDO, Metrobank, Security Bank, RCBC, BPI and PNB issues Debit Mastercard.

Debit Cards like Mastercard are also accepted in most Point of sales in the Philippines. It directly competes with Visa Debit which is mostly issued by state-owned banks and Bancnet the national interbank network

Romania[edit]

In Romania the Debit Mastercard is one of the two popular options of debit cards - the other one being Visa Debit.

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. The main issuers of Debit Mastercard are Clydesdale Bank (incorporating Yorkshire Bank), Danske Bank, Virgin Money, Metro Bank, Monzo Bank, Santander UK, Starling Bank, and Thinkmoney.[citation needed] First Direct began switching existing customers to Debit Mastercard from Visa in 2021.

Royal Bank of Scotland and NatWest began switching existing customers to Debit Mastercard from Visa in 2022

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.[26] In 2012, there were four levels of Debit Mastercard available: Standard, Gold, Platinum and World.[27]

Pakistan[edit]

See also[edit]

References[edit]

  1. ^ "Debit Card - Mastercard". www.mastercard.co.uk.
  2. ^ "Archived copy". Archived from the original on 2014-05-20. Retrieved 2014-05-11.{{cite web}}: CS1 maint: archived copy as title (link)
  3. ^ Aires, LAURA GARCÍA Buenos. "Sin eliminar Maestro, MasterCard sale al mercado con una nueva tarjeta de débito".
  4. ^ "Credit Card | Debit | Products | MasterCard®". Mastercard.com. Retrieved 2012-08-04.
  5. ^ "Press Office | About Us | MasterCard® Australia". Mastercard.com. Archived from the original on 2012-09-07. Retrieved 2012-08-04.
  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. ^ "Archived copy" (PDF). Archived from the original (PDF) on 2012-10-17. Retrieved 2012-10-11.{{cite web}}: CS1 maint: archived copy as title (link)
  8. ^ westpac.com.au Retrieved 2012-09-12
  9. ^ https://m.bendigobank.com.au/public/personal/transaction-accounts/student-account
  10. ^ "SEB offers customers novel MasterCard debit card". SEB. 10 March 2014. Retrieved 2 July 2014.
  11. ^ Lakson, Piret (10 March 2014). "SEB eelistab Visa asemel Mastercardi" (in Estonian). Tarbija24 (Postimees). Retrieved 2 July 2014.
  12. ^ "Banking Services - Online & Mobile Banking - BMO". www.bmo.com.
  13. ^ "Debitkarte - Debit Mastercard". www.mastercard.de.
  14. ^ "NEU: Debit MasterCard: Info und Vergleich zur Debitkarte 2018".
  15. ^ "Eurobank Ergasias - Debit Mastercard". Archived from the original on 2016-09-15. Retrieved 2014-07-12.
  16. ^ "Debit MasterCard". Archived from the original on 2015-03-17. Retrieved 2015-03-09.
  17. ^ "Mastercard Debit". Piraeusbank.gr. Retrieved 2014-07-12.
  18. ^ "ALPHA BANK - bank cards". alphabank.gr. Archived from the original on 2016-04-23. Retrieved 2016-07-01.
  19. ^ "HSBC Mastercard® Debit Card". HSBC. Retrieved 2021-02-18.
  20. ^ "Citi Plus". Citibank. Retrieved 2021-02-18.
  21. ^ "WeLab Bank Debit Card". WeLab Bank. Retrieved 2021-02-18.
  22. ^ "livi Debit mastercard". livi Bank Hong Kong. Retrieved 2021-03-31.
  23. ^ "Mox by Standard Chartered". Mox Bank. Retrieved 2021-03-31.
  24. ^ "Homepage". www.bunq.com. Archived from the original on 2017-09-14. Retrieved 2017-09-14.
  25. ^ "Prepaid Card - International Card Services". www.icscards.nl.
  26. ^ "MasterCard® Debit Cards". Mastercard.com. Retrieved 2015-02-04.
  27. ^ "MasterCard Debit Cards | MasterCard®". Mastercard.com. Retrieved 2012-08-04.

External links[edit]