Citibank switches to Mastercard but the perks are still the same
Visa out, Mastercard in for Citibank debit card customers.
Citibank will swap its current Visa debit cards with MasterCard debit cards, beginning March next year, but most account features will remain unchanged.
In a memo to customers Citibank said its Visa debit card clients would be issued Mastercard-branded replacements upon card expiry from March 2017.
Some minor changes have been flagged. For example, card numbers and expiry dates will change.
Citibank customers with direct debits linked to their Visa card numbers will need to amend these once their new Mastercard arrives. Any direct debits linked to account numbers will not be affected.
When customers receive their new Mastercard debit cards, they'll be required to select a new ATM PIN.
There will be no changes to international transaction fees or free Citibank-branded ATM withdrawals overseas, aside from the fact Mastercard exchange rates will apply, rather than Visa.
Between now and card expiry Citibank customers can continue to use their current debit card as usual.
Citibank has assembled a selection of frequently asked questions related to the debit card changes.
Finding the right card to use overseas can reduce international transaction fees and ATM charges.