Mastercard will roll out its Maestro debit card service from 1 July 2023. Barring exceptions, banks will no longer be able to issue new Maestro-compatible cards from this date. This switch in Germany primarily affects holders of a Girocard, commonly known as an “EC card”: Since the Girocard payment system itself is limited to payments in Germany, many German banks have so far also equipped their Girocards with the Maestro system.
Announcement
This so-called “Co-Badge” (second logo) ensures that the Girocard also works in many cash registers and ATMs worldwide. You can tell if a Girocard also supports the Maestro system by the Maestro logo on the front of the card, usually on the right. Mastercard is phasing out this very secondary feature. Girocard itself, which is backed by the German banking sector, is not affected. It will continue to be on offer.
No reason to worry
Regardless, bank customers need not worry about sudden problems at the till when abroad (see also our debit card FAQs). Since the announcement of Mastercard in autumn 2021, banks, savings banks and Mastercard itself have taken precautions or adapted their card offerings. First, if you have a Girocard with Maestro add-on, you can use it to make payments abroad until the card expires. Since payment cards are generally valid for up to four years, Mastercard will not shut down the Maestro network until July 2027.
Maestro will probably remain operational for a few more months. Several lenders have allegedly negotiated deadline extensions with Mastercard. Specialized services named Deutsche Bank, Commerzbank and HypoVereinsbank. You can also issue Girocards with an additional Maestro function after June 30th. For the time being, nothing will change for the customers of these banks.
Other banks, such as Sparda Hessen, but also some savings banks, exchanged all customers’ Girocards again shortly before expiry and sent them new cards with the Maestro function. Ideally, all will remain business as usual for the customers of these lenders for the next four years.
It also works without Maestro
Announcement
Furthermore, Maestro is not the only system that makes the Girocard suitable for use abroad. Mastercard’s competitor Visa also offers V Pay, a co-badge system that makes national systems like the Girocard suitable for use abroad. Such cards are issued by numerous Volksbanks and Raiffeisenbanks, as well as various savings banks, as well as the Postbank. In addition, some savings banks – including Berliner Sparkasse and 1822direkt – have announced they will switch to V Pay. This also indicates that Visa is sticking to V Pay, contrary to rumors to the contrary. Unlike Maestro, however, V Pay is effectively limited to Europe.
In addition, there is the relatively new possibility of equipping Girocards with full debit cards from Mastercard and Visa. For all intents and purposes it means that these Girocards also have a 16-digit card number, which customers can then use to pay abroad and, unlike Maestro or V Pay, also in online commerce. The main difference between these debit cards and a credit card is that the payment is debited from your checking account immediately. According to a list of links posted on GitHub more than 200 savings banks and around 30 Volksbanks and Raiffeisenbanks have recently offered this variant.
The direct banks ING, DKB and Comdirect in particular have opted for a third way, but also, for example, Targobank and Santander and so-called neobanks such as N26 or Revolut. They provide their customers with a pure Visa or Mastercard debit card for the account. Works worldwide, but with restrictions in Germany. While the neo-banks do not offer the Girocard at all, customers of the other institutions can book it if they wish, but it is sometimes paid and without a co-badge, so it only works in Germany.
(Mon)
