Dave Hounddriver Posted February 2, 2015 Posted February 2, 2015 (edited) In case you are not sure, a DEBIT MasterCard looks and acts exactly like a Mastercard but it is linked to your bank account so making an online purchase (or any purchase) simply means the money is taken directly from your bank account and paid via Mastercard to the merchant. You never have a bill or a balance, there are no annual fees or interest charges, and you never have to actually pay Mastercard as they instantly take your money. More info here: So has anyone got or used one in Philippines? Where did you get it and what bank is it linked to and how happy are you with it? Ideally it would be a card that I could apply for on line and have it delivered to my door. :tiphat: Edit: My clueless bank manager said they don't provide such a service but just use my ATM card like a debit card. :1 (103): but if she had tried to use her ATM card to make an online purchase she would realize why she is clueless. Edited February 2, 2015 by Dave Hounddriver 1 Link to comment Share on other sites More sharing options...
Mike S Posted February 2, 2015 Posted February 2, 2015 They have them .... at least my bank does but you must put up 1 1/2 times the value of the card in an account just in case you skip the country with out paying should you max your card out .... this account can't be touched ..... it's like an insurance program for the bank .... this is the main reason we never got one ..... On second thought maybe this is just a regular credit card and not a debit card ..... so never mind .... I'm just babbling ..... :mocking: :hystery: :hystery: :tiphat: :cheersty: Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted February 2, 2015 Author Posted February 2, 2015 (edited) They have them .... at least my bank does but you must put up 1 1/2 times the value of the card in an account just in case you skip the country with out paying should you max your card out .... this account can't be touched ..... it's like an insurance program for the bank .... this is the main reason we never got one ..... On second thought maybe this is just a regular credit card and not a debit card ..... so never mind .... I'm just babbling ..... :mocking: :hystery: :hystery: :tiphat: :cheersty: Thanks Mike' the account I want seems to be like the one offered at PSBank. http://www.psbank.com.ph/psbank-debit-mastercard.aspx I found that info online so have no yet gone into the bank to check it out. It does not look to have the restrictions you mention, just seems like a regular ATM card but (and its a big but) it is linked to the Mastercard system and can be used as such. If I do not hear back from anyone who has used one then I shall be the one who goes to PSBank and gives it a look. It seems they are part of the Metrobank group so probably pretty solid from a safety of money perspective. EDIT: I used to have a Philippine issued Mastercard but I gave it back, They were easy to get a few years back but the 3,000 peso annual fee, plus the 3 1/2% per MONTH interest fee, plus the service charges and lack of service or communication caused me to be dissatisfied so I told them to stick their card up their collective (you know). So now I want a DEBIT Mastercard so I am in full control of spending and charges to the account. Edited February 2, 2015 by Dave Hounddriver Link to comment Share on other sites More sharing options...
Jollygoodfellow Posted February 2, 2015 Posted February 2, 2015 but you must put up 1 1/2 times the value of the card in an account just in case you skip the country with out paying should you max your card out . Why on earth would this be so when its your own money and in my life experience once your card/account has used its money you can't overdraw? Link to comment Share on other sites More sharing options...
Jollygoodfellow Posted February 2, 2015 Posted February 2, 2015 In case you are not sure, a DEBIT MasterCard looks and acts exactly like a Mastercard Any reason you want Mastercard? Visa is available too. https://www.landbank.com/visa-debit-card Link to comment Share on other sites More sharing options...
Dave Hounddriver Posted February 2, 2015 Author Posted February 2, 2015 Any reason you want Mastercard? Visa is available too I think its just personal preference. Over the years I have used both and have always been treated better by banks offering Mastercard rather than those offering Visa. If someone has had a good experience with the Landbank Debit VIsa you linked to then I would seriously consider them, although I cringe at the thought of the lineups to the Landbank ATM at certain times of the week. Link to comment Share on other sites More sharing options...
whosalildog Posted February 2, 2015 Posted February 2, 2015 i don't know. maybe in someone elses wallett. ha ha just kiddin' 1 Link to comment Share on other sites More sharing options...
Mike S Posted February 3, 2015 Posted February 3, 2015 Why on earth would this be so when its your own money and in my life experience once your card/account has used its money you can't overdraw? As it was explained to me a foreigner could go on a spending spree and max out his card before leaving the Philippines (this is for a credit card ... not a debit card) On second thought maybe this is just a regular credit card and not a debit card ..... so never mind .... I'm just babbling . As I said I got it screwed up ..... :SugarwareZ-034: ......... you are right about maxing out your debit card as it comes right out of your account ..... :thumbsup: :cheersty: 1 Link to comment Share on other sites More sharing options...
Markham Posted February 3, 2015 Posted February 3, 2015 Unless you want one purely for the convenience of making online purchases, don't bother, Dave. Unlike in our home countries, merchants here that make you pay extra for paying by credit card will also apply the same premium for using a debit card. They have to because they are charged a fee unlike in our home countries where banks prefer the almost zero-cost of EFT as against the real costs involved in handling and processing cash. HSBC certainly offers Visa debit and I'm told that you can request Mastercharge debit as an alternative. I used my (Peso account) Visa debit card whilst visiting the UK last year and no charges were levied for usage - but the exchange rate wasn't exactly the best available either. Link to comment Share on other sites More sharing options...
Steve & Myrlita Posted February 3, 2015 Posted February 3, 2015 BDO gives a debit MC if memory serves. Link to comment Share on other sites More sharing options...
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