The cards are to be gradually replaced by modern debit Mastercards. (symbol photo) picture alliance / Andreas Franke | Andrew Franke
From July 1, 2023, banks and savings banks should no longer issue new Maestro cards. That comes from one communication of the payment service provider Mastercard.
The cards with the Maestro function are to be gradually replaced by the more modern Debit Mastercard.
The new card offers customers extended functions such as payments in online retail.
Since its introduction around 30 years ago, the Maestro card has enabled customers to withdraw money and make payments abroad. From July 1, 2023, however, banks and savings banks should no longer issue new cards with a Maestro function. That comes from one press release of the payment service provider Mastercard. Accordingly, the Maestro card no longer meets the needs of customers and will be replaced by a modern debit Mastercard in the coming weeks.
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The new Debit Mastercard has more features than the Maestro card
The Debit Mastercard will add new functions to the Maestro system. In future, consumers will also be able to use the new card in online retail and make payments at additional points of acceptance. According to the payment service provider Mastercard, the EC card gets “an important upgrade”. It works in a similar way to a credit card, but the account is debited directly, just like using a giro card.
In order to receive the new Debit Mastercard, you do not have to take action yourself as the owner of the Girocard with Maestro function. When your current card expires, your bank will automatically provide you with the new card with the enhanced features. Until then, you can continue to use your Maestro card to make full payments and withdraw money. This is possible both in Germany and abroad.
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Some banks are still issuing the Maestro card for the time being
Although the gradual switch from the Maestro card to the Debit Mastercard should start on July 1, some banks will have more time. As the “HandelsblattAs reported, banks such as Deutsche Bank, Commerzbank and Hypo-Vereinsbank (HVB) will continue to issue Girocards with a Maestro function for the time being.
It is therefore not known how long the banks intend to hold on to the Maestro card. However, the report shows that HVB is working on a “successor product” that “will be linked to the current account just like the current Maestro card.”