- Debit MasterCard
-
The Debit MasterCard is a type of debit card in the United Kingdom, Australia, the United States and other countries. It uses the same systems as the standard MasterCard credit card, but does not use a line of credit to the customer as it is a debit card. It instead relies on funds that the customer has in their bank account.
A Citizens Bank Debit MasterCard
Contents
United Kingdom
In the United Kingdom, the Debit MasterCard operates alongside MasterCard's already-established Maestro debit card scheme.
Clydesdale Bank, also trading as Yorkshire Bank[1], as well as Metro Bank[2] and Ghana International Bank UK[3], have begun to issue Debit MasterCards to their customers.
Prior to the Debit MasterCard, Maestro debit cards were the only debit cards provided by MasterCard, which were not accepted as widely worldwide, unlike the Debit MasterCard which is accepted worldwide wherever MasterCard is accepted. The Maestro scheme is still in place as an alternative to the Debit MasterCard, operated by S2 Card Services Ltd. under licence from MasterCard.
Australia
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 banks Cirrus cardholders. In 2010, the following financial institutions in Australia offered a Debit MasterCard as an option on selected accounts:
The Commonwealth Bank is notable for being the only bank in Australia to issue a Debit MasterCard to any account holder aged 16 and older[11], whereas other institutions require cardholders to be aged 18 or older.
United States
In the United States, unlike Australia and the United Kingdom, four levels of Debit MasterCard are available: Standard, Gold, Platinum and World. [12]
External links
References
- ^ http://www.ybonline.co.uk/personal/current-accounts/debit-card/
- ^ http://www.google.com/hostednews/ukpress/article/ALeqM5iJZuTZhMT8vzM6zWcCkYn_CAve1g
- ^ http://www.ghanabank.co.uk/personal-banking/182307
- ^ http://www.mastercard.com/au/personal/en/findacard/debitcard/index.html
- ^ http://www.mastercard.com/au/general/en/aboutus/press/060907.html
- ^ http://westpac.com.au/personal-banking/bank-accounts/debit-cards/debit-mastercard/
- ^ http://www.commbank.com.au/personal/accounts/debit-mastercard/default.aspx
- ^ http://bankwest.com.au/Personal/Transaction_Accounts/MasterCard_Debit_Card/index.aspx
- ^ http://www.comsec.com.au/Public/Products/DebitCard.aspx
- ^ http://bendigobank.com.au/public/personal/Cards/bendigo_blue/bendigo_blue.asp
- ^ http://au.ibtimes.com/articles/20100201/commonwealth-bank-unveils-youth-debit-mastercard.htm
- ^ http://www.mastercard.com/us/personal/en/aboutourcards/debit/index.html
Credit, charge, and debit cards Major credit cards Major debit cards Charge cards Regional cards BC Card · Carte Bleue · China UnionPay · Dankort · Discover · Girocard (EC) · Interac · Laser · RuPay · V PAYDefunct cards Accounts Interest Payment Technology Security/crime Categories:- Debit cards
Wikimedia Foundation. 2010.
