MasterCard Platinum Debit Card

Description

Our Platinum Debit MasterCard is with extra convenient benefits. This includes a mix of travel benefits, preferential treatments and rewards, higher transaction limits, and access to exclusive products and clubs by partner organizations. This offering is strictly by invitation.

Features

1. Accepted worldwide – pay for goods and services at over 29 million locations and withdraw cash from over 1.8 million ATMs worldwide
2. Safe – eliminates the risk and inconvenience of carrying cash Secure with Chip & PIN technology
3. Effective funds management – transactions done with the card can be easily monitored via the Internet Banking service.
4. Dependable support – 24 hour access to support for all card-related complaints through our Contact Centre – GlobalContact.
5. USD denominated, can be linked to a current or savings account Valid for 3years
6. Increased limits on local POS and Online transactions are available on request.

Benefits

1. The card is strategically positioned to continually meet cardholders evolving needs
2. The card gives the cardholder individual recognition of status and aspiration
3. Access to global e-commerce (shopping on sites across the world)
4. Enjoys promotions targeted at MasterCard cardholders
5. EMV technology that prevents cloning of cards.
6. Access to the MasterCard Global Services (emergency customer service — anytime, anywhere, and in any language.
7. Cardholders can access all services provided by their issuers, MasterCard, and third-party processors etc.)
8. Emergency Cash Advance – applicable where a customer’s card is unavailable and cash is urgently needed. With this service, offered by MasterCard, cash can be remitted to the cardholder via money transfer services (MoneyGram or Western Union) pending when a replacement card is issued to the customer.
9. Emergency Card Replacement – for urgent replacement of lost or stolen cards; a service offered by MasterCard as a temporary measure/bridge, pending when the customer’s replacement personalized card is produced.
10. Virtual Payment Concierge – MasterCard arranges a ‘card not present’ Transaction at dining, hotel, and transportation merchants (pending merchant approval) while an emergency card is in transit.
11. Higher daily local limits while transacting at various channels (ATM: $300, POS: $3,000 and Web: $2,000)
12. Access to MasterCard Moments world-class shopping experience – travel, dining, shopping and other lifestyle privileges. (mastercardmoments.com)

How to apply?

To apply for the Visa Infinite Card, visit any branch closest to you to complete an application form or talk to a customer care for other alternatives.

What is a Platinum Debit MasterCard?

The Platinum Debit MasterCard is a Premium debit card denominated in USD and issued in partnership with MasterCard Worldwide. It is linked directly to a customer’s Naira denominated Current and/or Savings account.

This product, which is a higher variant of the Naira MasterCard, is aimed at giving high net-worth customers enhanced value and experiences worldwide.

What is the minimum account balance at the point of card issuance?

$50.00 This is required as the point of processing the card request.

What is the card issuance fee for the Platinum Debit MasterCard?

$1.00 USD

Target Market?

1. Owners/ MDs of organisations and conglomerates that meet the minimum qualifying criteria
2. High Net Worth Individuals
3. Ultra-high net worth individuals

Cost of issuance of Visa Infinite Card and associated fees?

1. Card Joining/Reissuance Fee: $3
2. Supplementary card fee: $3
3. Main Card Annual Maintenance Fee: $10 (Taken upfront)
4. Supplementary Card Annual Maintenance Fee: $10 (Taken upfront)
5. Annual Membership fee (per card): $200
6. Interest Fees : 3% flat (Outstanding balance)
7. Default Fee : 0.25% flat per month
8. Card Replacement Fee : $3
9. ATM Withdrawal Fee: $5 per transaction
10. POS & Web Fee: Free
11. PIN re-issue fee: Free
12. POS Cash Advance Fee: $3 + 1% of transaction value

Will a lien be placed on my US Domiciliary account with respect to my desired limit on the Visa Infinite Card?

Yes, a lien of 120% will be placed on USD, GBP or EURO account to secure the funds throughout the tenor of the card

What are the daily usage limits for my Visa Infinite card?

1. ATM cash withdrawals – $1,000 (total frequency – 5 times)
2. Purchases (POS) – $25,000 (total frequency – 20 times)
3. Purchases (Internet) – $25,000 (total frequency – 5 times)

How long would it take for my Visa Infinite card to be ready for collection, after I submit my application?

For DC branches, the Visa Infinite Card will be ready for collection 2 business days after application.

While for upcountry branches, Visa Infinite Cards will be ready for collection 5 business days after application.

Please visit a branch to apply. Compulsory hold amount on card is $100.