The Debit MasterCard is a debit card. It uses the same systems as the standard MasterCard credit card, but does not use a line of credit to the customer, instead relying on funds that the customer has in their bank account.
In the United Kingdom, the Debit MasterCard operates alongside MasterCard's already-established Maestro debit card scheme.
Prior to the Debit MasterCard, Maestro debit cards were the only debit cards provided by MasterCard, which were not accepted as widely worldwide, unlike the Debit MasterCard which is accepted worldwide wherever MasterCard is accepted. The Maestro scheme is still in place as an alternative to the Debit MasterCard, operated by S2 Card Services Ltd. under licence from MasterCard.
The Commonwealth Bank and ME Bank are notable for being the only bank in Australia to issue a Debit MasterCard to any account holder aged 16 and older, whereas other institutions require cardholders to be aged 18 or older.
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In the United States, unlike Australia and the United Kingdom, four levels of Debit MasterCard are available: Standard, Gold, Platinum and World.
- "Credit Card | Debit | Products | MasterCard®". Mastercard.com. Retrieved 2012-08-04.
- "Press Office | About Us | MasterCard® Australia". Mastercard.com. Retrieved 2012-08-04.
- "Commonwealth Bank unveils youth Debit MasterCard - International Business Times". Au.ibtimes.com. Retrieved 2012-08-04.
- "MasterCard Debit Cards | MasterCard®". Mastercard.com. Retrieved 2012-08-04.
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