Bank card "Maestro": payment system, pros and cons

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Russians are used to using a bank card because it is a modern and convenient way to store cash. But not everyone understands the type of card, especially its payment system. Ignorance of the possibilities of credit and debit cards is often the reason for choosing the wrong banking product. One of the most popular types of credit cards in Russia are "Maestro" type cards. But the Maestro card payment system remains a mystery for many users.

What types of payment systems exist in the Russian banking sector?

The Russian market is actively using the possibilities of non-cash payment, and more than 100 million citizens have become cardholders. Such an abundance of banking products obliges banks to cooperate with the most popular companies that issue credit cards.

Currently, 95% of Russian banks canissue bank cards of the following payment systems:

• "WORLD".
• Master Card.
• Visa.

"MIR" is the first and so far the only payment system in Russia. Visa and Master Card are foreign companies. Visa is an American payment system, while Master Card refers to a multinational company.

Features of choosing a payment system

The choice of payment system is the prerogative of the cardholder. The client himself determines which company's product he would like to have.

Those who choose cards of an inexpensive price category often ask the question: "What is the payment system for the Maestro card?" This is important, since the payment system affects not only the number of bonuses and privileges from partners, but also credit card acceptance points.

For those who often travel to European countries, bank employees recommend opening Master Card payment system cards. This payment system is accepted in almost all outlets in Europe, and the conversion on Master Card cards is made in euros.

Visa-based cards are more common in the countries of the American continent, so when traveling to these regions it is recommended to give preference to credit cards of this payment system. Conversion for Visa cards in US dollars.

Maestro card: banking product features

Choosing the type of bank card, first of all, manycustomers are repelled by the price category of the product. And one of the most budgetary plastic cards are Maestro credit cards.

Payment system of "Maestro" card - Master Card. The product itself is one of the directions for issuing credit cards and debit cards. Master Card "Maestro" differs from classic credit cards by its low cost and limited functionality.

In particular, this applies to the cash withdrawal limit. For classic-format cards, the cash withdrawal limit per day is on average 150-200 thousand rubles. For Maestro cards of the Master Card payment system, the limit is much lower - up to 50 thousand rubles.

Appearance and device of the Maestro card

The design of "Maestro" credit and debit cards is unremarkable. Such cards are issued either in one color or in the classic color scheme. The main emphasis of the creators of the series is not on the uniqueness of the design and the attractiveness of the product, but on its price category.

Maestro cards of the Master Card payment system are Economy class products. They are available to all customers who are eligible for a credit card. The cost of servicing "Maestro" in Russian banks ranges from 0 to 300 rubles.

The device of the card is identical to the cards of the classical format. On the front side, the full name of the client (with the exception of instant issuance cards), the expiration date of the plastic, the name of the issuing bank, and the credit card number are indicated. On the right side is a chip that serves toprotecting customer data.

Until 2016, more than 70% of Maestro cards of the Master Card payment system did not have a chip. But 2 years later, everything has changed, and now even cards of the "old" type are automatically reissued with additional protection.

The CVV2 code is indicated on the back of the card. This is a 3-digit cipher that is required for secure online shopping. It is located next to the card holder's signature ribbon.

The bank contacts (Support Service) are also written on the back, they are necessary for the client to contact specialists.

Differences between the "Maestro" card and the classic Master Card products

When choosing between a Standard card and an Economy plan product, few people know how credit cards differ from each other.

But the Maestro payment card was not developed by chance. And its main differences from the Master Card Standard card are as follows:

• Low cost annual maintenance. This is her main advantage. In some banks, you can get a Maestro card absolutely free of charge.
• Low cash withdrawal limit. This feature was noticed by customers who rushed to choose a debit card. The desire to save is not always profitable: if the daily withdrawal limit is reached, you will have to pay a commission to the bank for spending the rest of the funds.
• Standard design. Unlike classic cards,the design of which the client can develop independently (for an additional fee), "Maestro" cards are issued only in the form of a bank.
• Quality plastic. Master Card Standard serve the client longer, despite the same validity period - from 3 to 5 years. After 1-2 years of active use (at least 1 time per day), "Maestro" cards lose their appearance.
• Protection quality. The chip on the front side of the "Maestro" is less secure than the standard Master Card. Many users note a gradual deterioration in the performance of a credit card, which leads to the need to reissue the card ahead of time.

Master Card or Visa? Which card is better to choose

When choosing between Visa or "Maestro" (which payment system is better), you should start only from your own expectations in using the product. Both companies offer a package of services for cardholders of their payment system. But not all opportunities are available to holders of inexpensive credit cards.

The main feature for a Russian citizen will be the difference in currency conversion when traveling abroad. Euros or dollars - this is what a client who plans to travel to other countries will have to choose between. And it depends on the choice of payment system what type of conversion the account holder will have.

If traveling abroad is not the main reason for choosing a credit card, then you can explore the bonuses offered by partners.

Visa cards are:

• 10% discount at the water park "RIVIERA" in Kazan.
• Up to 6%discount on Mercedes-Benz cars at an authorized dealer.
• Up to 25% off natural cosmetics from The Body Shop UK.
• Premium services at Sheremetyevo at a special price.
• Decoration as a gift when buying in SUNLIGHT stores.

Maestro cards have their own offers:

• 10% discount on a ticket to "CINEMA PARK" and "Formula Kino", as well as 50% in the cinema "PIONEER".
• Free 1 month subscription to ivi online cinema.
• 15% off Starbucks products.
• Certificate for 3000 rubles when buying online at Technopark (subject to special conditions).
• 10% off bookings at the Nevsky Forum Hotel.

Pros and cons of the Maestro card

Having decided to opt for the "Maestro" card, whose payment system is Master Card, bank customers often doubt whether it is worth opening an inexpensive "Maestro" type card. This product has its advantages and disadvantages, namely:

1. Not the best protection - an option for those who will not keep all their savings in a credit card account. Maestro customers need to be prepared for the fact that the card will eventually have to be reissued due to poor quality plastic.
2. Inexpensive price - a great way to save on choosing a card product. Not everyone can afford to open Master Card cards for 3,000 rubles a year or more. And "Maestro"in some banks (for example, Sberbank) opens for free.
3. Standard feature set. "Maestro" is accepted by almost all outlets, it can be paid on the Internet and abroad.
4. Classic design. The inability to order a card with a personal design upsets some users, but only 1.5% of credit card holders worldwide take advantage of this opportunity.

Overview of the "Maestro" product (on the example of the Sberbank "Social" card)

The "Maestro" card of Sberbank of the Master Card payment system is one of the most popular products in Russia. Every 3rd pensioner receives deductions to her account.

It has a bright spring print design. Available for retirement contributions, including benefits. Registration and maintenance are free.

Every quarter, the bank multiplies the account balance by 3.5% per annum (only pension and other contributions are taken into account). Customers can withdraw cash throughout Russia without commission (at Sberbank ATMs).

The "Maestro" card of Sberbank, whose payment system is Master Card, is available for registration by citizens over 18 years of age who are eligible to receive pensions.

The daily limit for cash withdrawals from ATMs is 50,000 rubles. Every month, the client is allowed to receive 500 thousand rubles without commission at the company's ATMs.