AIB ditches Mastercard

Mebuntu

Got a 5-page letter this morning stating that AIB will ditch Mastercard and any existing Mastercards will be switched to Visa in June. Strange decision. To avoid penalties people will have to change the card details for any regular Mastercard online payments when the time comes.

endofrainbow

The letter I received said May 22nd. AIB have said that they no longer support the Mastercard product hence the switch.

I think 2.5 months is plenty of time to rearrange online payment changes.

Mebuntu

Not quite 2.5 months.
Mine is "on or after 5th June" the new Visa card will be issued. The old Mastercard will work for 30 days after the new Visa card is issued, so, as you say, plenty of time.

vicwatson

And recently avantcard ditched visa to go with MasterCard

endofrainbow

mine was 2.5 months which is what I was referring to

Genghis

Not completely unusual, banks do deals with the card schemes for 5-7 years, and every cycle or two will switch or go exclusive. Not much difference to the customer other than the brand on the card (aside of course from the switchover).

Mebuntu

Sorry, maybe I didn't explain properly. The point I was making was that, if you want to changeover the online payments on the Mastercard to the new Visa card, you won't actually have the details of that new card until on or after the date you've been given and then you have 30 days to make the changes. Of course, you could always change the payments to another existing non-Mastercard card if you have one.

SusanC10

I got the same letter saying "On or after June 5th" with 30 days from receipt to change details etc.
My concern is that we leave for France mid-June for 25 days and we use An Post Mail Minder while gone.

Tigerandahalf

I got this letter recently as well.

Some things to note

They have 3 new card products -

Visa Click
Platinum Card
'Be' Visa Card

Most people will be moved onto the Visa Click card automatically it seems unless you notify them.

An interesting thing is that for Visa Click it states
'You need to earn €16,000 to take out this card'
What are they going to do with people who don't? You don't get a credit card?

The interest rates seem to be much lower compared to Mastercard.

APR going from 24.7% to 13.8%
Annual interest rate from 18.24% to 9.11%

However foreign exchange transactions on your card will increase from 1.75% (with Mastercard) to 2.75% (with Visa Click). With Brexit possible this could make the Revolut card very attractive for shopping on amazon and other uk sites.

Charges for cash advances are also increasing from 0 to 1.5% (min charge of €1.90 applied).

danjo-xx

Is this for both credit and debit cards?

GerardKeating

danjo-xx wrote: »

Is this for both credit and debit cards?

they actually moved thier debit card from Mastercard/Maestro to Visa about five years ago.

GerardKeating

Mebuntu wrote: »

Got a 5-page letter this morning stating that AIB will ditch Mastercard and any existing Mastercards will be switched to Visa in June. Strange decision. To avoid penalties people will have to change the card details for any regular Mastercard online payments when the time comes.

Interestingly, they are still offering Mastecards on the website, if you want a new card.

Piotor

The letter is saying that my Mastercard will be replaced by a Visa Click.
What the letter is not saying is what happens when I already have both, a "be" Mastercard and a Visa Click.
Does anyone know what should I expect?

endofrainbow

Mr.S wrote: »

Just wondering, what's the point of having both versions?

But you won't once the BE card is discontinued.

Piotor

Mr.S wrote: »

Just wondering, what's the point of having both versions?

Well... Let's say I was collecting them
But not so much to have two Visa Clicks!

lotsofthegreen

Piotor wrote: »

Well... Let's say I was collecting them
But not so much to have two Visa Clicks!

If you find out will ya let us know.

In the same boat.

Wonder would they put the MasterCard limit and balance into my other card - save stamp duty in the future

Piotor

lotsofthegreen wrote: »

If you find out will ya let us know.

In the same boat.

Wonder would they put the MasterCard limit and balance into my other card - save stamp duty in the future

Sure thing, I will!
Joining the cards by increasing the limit seems to be the best option indeed.

Treviso

If you want, you can contact them and get the card changed straight away without any charge - no need to wait until May or June

Piotor

Mr.S wrote: »

Now i'm super confused! Am I missing something, what's the logic behind having both versions of the card, from the same bank?

Can you not just request a higher credit limit on one of them?

That's what we want to do now. Until now, it was good to have both Visa & MC, just in case if you lose (or destroy) one or one system does not work.

GerardKeating

Mr.S wrote: »

Now i'm super confused! Am I missing something, what's the logic behind having both versions of the card, from the same bank

there was an issue last year, Visa Europe went down oe friday evening, but Mastercard work ok during this outage.

The following week, it was mastercards turn.

I currently have a Mastercard and Visa from AIB, so in the two outages above, I still have a functional card.

Piotor

So I contacted the card services under +353 1668 5500 and I was told I will receive a Visa Click, even if I already have one. As I don't need two cards I decided to close down my Mastercard which was done over the phone immediately. I did not ask about joining the credit limit.

Surfdreamer_63

GerardKeating wrote: »

there was an issue last year, , but Mastercard work ok during this outage.

The following week, it was .

I currently have a Mastercard and Visa from AIB, so in the two outages above, I still have a functional card.

Same here, what are you going to do Gerard? I checked providers and maybe could get one with An Post or BOI. An Post offer 0% Interest for balance transfers for up to a year.

GerardKeating

Surfdreamer_63 wrote: »

Same here, what are you going to do Gerard? I checked providers and maybe could get one with An Post or BOI. An Post offer 0% Interest for balance transfers for up to a year.

My initial concern with this change over was the fact that I am away in April/May, but i phoned them and they "promised" not to send me a card till i came back.

I already have a Mastercard from AvantCard, so might just left the AIB credit card lapse, and just keep their debit card.

geecee

Like many others I also liked the security if having both MasterCard ad Visa card on my travels. Given that my Debit/ATM card is also issued by Visa... I now have 3 cards under the Visa system

Anyone recommend a good MasterCard provider that sells in the Irish market? Preferably one with some sort of rewards system!