MasterCard Questions and Answers
MasterCard Questions and Answers
We compiled questions and answers about MasterCard
We hope that they will help you
How does the card work?
MasterCard from the Postal Bank is a multicurrency card protected by an electronic chip and PIN.
Three currencies can be loaded onto the card (NIS, Euro and British Pound). The card can be used to make purchases at any business in Israel, overseas and online that honor MasterCard. The card can also be used for cash withdrawals from ATMs around the world that honor MasterCard.
Where can you use the Postal Bank’s MasterCard?
The card can be used in over 2 million ATMs for cash withdrawals and in millions of businesses around the world that honor MasterCard.
To find the exact location of the ATMs, enter MasterCard ATM locator. You can also use the card to make purchases in any business or website that honors MasterCard.
The card can also be used in countries where the local currency is different than the currency on the card. In these cases, the currency/currencies on the card will be automatically converted to the local currency. If the local currency is not one of the currencies loaded on the card, the currencies in the wallet will be converted in the following order: initially from the Euro currency wallet, and then from the British Pound wallet and then from the NIS currency. A conversion fee will also be charged to be determined by MasterCard. On the day of the transaction and plus a percentage to be determined by us (for more information, see the table on fees).
There are several countries where Prepaid MasterCard in foreign currency cannot be used. If you try to withdraw money or make a purchase in a business your request will be denied for the following reason: “Denied, prohibited country”.
The Postal Bank’s Smartcard cannot be used in the following countries: Cuba, Iran, Iraq, North Korea, Sudan, Syria, Algeria, Afghanistan, the Palestinian Authority, Lebanon, Lybia, Malaysia, Somalia, Pakistan, Tunisia and Yemen.
What are the card fees and limits?
Click here for a list of fees and limits that apply to the card
Can the card be used for online purchases?
Yes, the card can be used for online purchases (based on the card’s limits) on sites that honor MasterCard.
When using cards on websites that use a currency used by the site (and if it is one of the currencies on the card), it will be possible to know the amount of the transaction and the exact rate for the transaction. For your own security, certain sites may ask for the security code printed on the back of the card. The card cannot be used for money transfers (i.e. transfer of funds to a third party) or as a method of payment for money transfer services, or as a method of payment to access or make purchases in stores or on websites that pertain to adult content or gambling and cannot be used for any illegal activities. Compliance with the laws and regulations is mandatory (including control of foreign currency conversions) in a country in which the card was purchased or used.
How can the balance of the card be checked and conversions made between the card wallets?
The balance on the card can be checked, and the transaction history on the card can be viewed, and conversions between the wallets made on the website once the card has been registered in My Account.
What’s the difference between the Postal Bank MasterCard and other debit and credit cards?
The Postal Bank’s smartcard is a convenient, safe way of carrying and managing expenses that brings peace of mind and security required from a debit card.
A Postal Bank prepaid smartcard offers you better control over the budget than a regular debit or credit card. Since the withdrawal fee from ATMs is fixed and there are no fees in purchases, it is easier to manage expenses.
How can the card be loaded?
The Postal Bank’s smartcard can be loaded in the following two ways:
- Payment at one of the post office branches in cash in NIS or foreign currency and reloading with Euro/British Pound currencies as a credit card as well.
- The card can also be reloaded by bank transfer from your computer from any bank at your convenience. Currencies can be converted between wallets, 24/7, at the My Account website.
How can the Postal Bank MasterCard be reloaded?
Even when the balance on the card is at 0, the card is valid (until the expiration date imprinted on the card).
The card can be reloaded at any time ##click here for details.
##As long as the card is valid and subject to the card’s limits (see table on fees).
What happens when there is insufficient balance to carry out a purchase transaction?
There may be cases in which you may want to purchase an item that costs more than the existing balance on the card. That’s all right; if the business allows for partial payment, you may pay part of the amount with the card and part by another method of payment. Make sure to inform the business and confirm the amount you wish to charge on your MasterCard.
The business should first charge your MasterCard and then charge the balance of the payment through the other method of payment you selected. Make sure that the card has a positive balance at all times. We recommend that you regularly check the transactions you carried out on the card and the balance of the card in My Account.
What happens when the card is denied in a business?
This might occur when there is insufficient balance on the card to cover the transaction (money on the card can be used to pay for part of the transaction on your MasterCard and part through another payment method if the business allows for partial payment).
Note – businesses such as restaurants and car rental agencies may require a higher balance than the value of the transaction before approving the transaction.
How protected and safe is the Postal Bank’s MasterCard?
For your safety, the Postal Banks smartcard is protected by an electronic chip and PIN. In order to lower the risk of fraud – the smartcard is not linked to your bank account.
What can be done when the ATM requests a 6-digit PIN?
Certain countries may require that you enter a 6-digit PIN when withdrawing cash from an ATM. The Postal Bank MasterCard has a standard 4-digit PIN. This code will be accepted in every ATM that complies with MasterCard standards. To receive assistance related to the PIN, contact the call center service.
The card balance is less than I thought. Why?
When using the card in certain businesses (see table below), you may be required to have a higher balance than the amount of the transactions. The reasons being (i) the business might request a higher amount than the amount initially approved to cover the cost of purchase (such as a meal) and an amount that will cover the tip, or any other increment to be approved by you (ii) In the event of a purchase of a self-serve gas station in order to make sure that there is sufficient balance to cover the final cost of the transaction.
|
Business |
Rate of increment of debit (% of the amount approved) |
|
Restaurant / cafeterias, from sale of beverages |
15% |
|
Self-serve gas stations |
USD 75 or its equivalent based on the transaction currency |
For more information about the added charge required, please see “What is the additional balance required to carry out transactions in businesses that sell beverages, restaurants / cafeterias or gas stations?
Your balance may be lower than what you thought since you used the card as guarantee/ deposit for final approval of the transaction. Please see the section “What is pre-approval”” for more information. See also the section “The Card and its Use” in the Prepaid Foreign Currency Card Agreement.
What is the additional balance required to carry out transactions in businesses that sell beverages, restaurants / cafeterias, or gas stations?
When using the card in one of the businesses on the list, a percentage or fixed charge may be added to the amount of the transaction as part of the approval of the transaction by the business. The addition of the fixed amount or certain percentage to the amount of the transaction is known as “billing rate’, or the value of the transaction plus the billing rate are maintained and are deducted from the balance of the amount on the card. The table below reveals the fixed percentages and amounts that may be added to transactions.
|
Business |
Billing rate (%of the approved amount) |
|
Restaurants/ cafeterias/ beverage sale |
15% |
|
Taxis / limousines |
15% |
|
Communication services |
£10 or €10 |
|
Self-serve gas stations |
75 UDS or its equivalent based on the transaction currency |
Example: In a restaurant meal, the bill arrives for 50 €. The minimum balance required on the card to obtain approval of the transaction will be equivalent to 57.50 € (50€ + 15% charge (7.50€) = 57.50 €). The final charge will be executed based on the amount you signed for on the bill or approved through PIN.
See section “When using the card in businesses that sell beverages, restaurants or gas stations, for how long is the transaction amount held and why?" Learn more about this topic. See also the "The Card and its Use" in the Foreign Currency Prepaid Card Agreement.
When using the card in businesses that sell beverages, restaurants or gas stations, how long is the transaction amount held and why?
Businesses occasionally do not close the final bill immediately after the transaction is made, with the additional billing rate added to the transaction in order to confirm that when the transaction is finally closed, there will be sufficient balance on the card. The amount of the transaction approved by the business, plus the percentage or fixed amount that constitutes the billing rate is deducted from the balance on the card and held until the transaction closing date and the charge of the exact transaction amount from the card, or for a period of time of up to 7 days – whichever is earlier.
When the amount of the transaction exceeds the balance of the relevant currency loaded on the card, the remaining amount will be collected from the other wallets in the wallet in the following order: Euro, British Pound and then NIS. The conversion rate set forth by MasterCard will be the rate set forth on the date of the transaction plus the rate differentials (occasionally known as the foreign currency conversion fee).
In certain cases, the business may not finalize the transaction within 7 days and the transaction may be finalized up to 30 days from the transaction itself (when only then will the amount be collected from your MasterCard). We recommend tracking activity on the card in the Itemization of Transactions on the Card in My Account and take this into account, including the amount of the billing rate in order to ensure that the card will have a sufficient balance on the transaction finalization date. Most businesses will finalize the transaction within 24 hours of the transaction.
See also the section – “What can be done when there isn’t sufficient balance on the card to cover the amount of the transaction and the billing rate?” For more information on this subject, see also Section “The Card and its Use” in the Foreign Currency Prepaid Card Agreement.
What can be done when there isn’t sufficient balance on the card to cover the amount of the transaction and the billing rate?
When the value of the transaction plus the billing rate deviates from the permitted amount accumulated on the card for said currency, the balance of the amount will be collected by converting another currency on the card in the following order: Euro, British Pound and NIS.
The conversion will be carried out based on the conversion rate set forth by MasterCard on the date of the transaction plus the rate differentials.
See also Section “The Card and its Use” in the Foreign Currency Prepaid Card Agreement.
What can be done when there is insufficient balance to cover the amount of the transaction plus the billing rate in the total balance in the various wallets on the card?
When there is insufficient balance in all of the various wallets on the card in order to cover the amount of the transaction plus the billing rate, the transaction may be denied.
For example, in a restaurant meal, the bill arrives for 50 €. The minimum balance required on the card to obtain approval of the transaction will be equivalent to 57.50 € (50€ + 15% charge (7.50€) = 57.50 €).
Remember – always take into account the billing rate. If you use the card in a business with a billing rate, you must make sure that the balance on the card is sufficient to cover the amount of the transaction plus the billing rate, otherwise, you may not be able to pay with your MasterCard. Business permitting, you can make partial payment on this card and the balance pay through another payment method. Make sure to inform the business and confirm the amount you want to charge your MasterCard. The business should first charge MasterCard and then charge the balance of the payment through other payment methods. See also the "The Card and its Use" in the Foreign Currency Prepaid Card Agreement.
Why does the charge rate apply to transactions performed with the card that has an electronic chip and PIN?
When using the card in in businesses that apply the billing rate, there are instances when the business approves the card before receiving the final amount in the invoice.
The amount charged by the business and the billing rate will be deducted from the balance on the card and stored. We are unable to know in advance how the business will submit the transaction and whether it will pre-approve the amount of the transaction and then request your signature or approval of the final amount with the fee or service charge that you accept. Hence, the billing rate is automatically added in businesses appearing on the following list.
|
Business |
Rate of increment of debit (% of the amount approved) |
|
Restaurant / cafeterias, from sale of beverages |
15% |
|
Self-serve gas stations |
USD 75 or its equivalent based on the transaction currency |
What should I do if the business suggests that I pay in NIS overseas (the card is identified as Israeli)?
When traveling (abroad), we recommend choosing payment in local currency and not in NIS (although the card will be identified in businesses as Israeli). Choosing payment in local currency - particularly if it is one of the currencies charged on the card, will prevent payment of rate differences and additional costs.
Remember, if the local currency is not one of the currencies loaded on the card or if there is not enough balance in the payment currency, the balance of the amount will be charged from another wallet in the following order: first in Euro, then in British Pounds, and you will be charged a conversion fee.
(For more information see the table of fees).
What is a pre-authorization charge?
The Postal Bank’s MasterCard is a smart, friendly and flexible card but not suitable for every business. We do not recommend using the card as a deposit in car rental agencies, hotels or cruises. These businesses assess the final amount for payment and reserve a certain amount on the card. Said reserved amount cannot be used until it is released by the business.
What is “My Account”?
“My Account” is a tool for managing your card online. Once registered, you can check the balance on your card, convert cash between the card wallets (currencies loaded onto the card) and to view an itemization of transactions on the card.
How do I register to “My Account”
Click on “My Account”, choose “New Registration” and simply follow the instructions appearing on the screen. Every time you enter “My Account’, you will be asked for the last 4 digits of your card.
How can I check the balance of the card and convert cash between currencies?
The balance on the card can be checked, as can itemization of transactions. Cash can be converted between currencies immediately upon registration to “My Account”.
How can I contact the call center service?
Contact details for the call center service can be found here.
Can I retrieve the PIN?
Yes, the PIN can be retrieved by contacting the call center service, where you can receive assistance 24/7 or speak to one of our service representatives if you have any other questions. Please note – the PIN cannot be changed.
What should I do if I find a wrong transaction in the itemization of transactions?
You should check the itemized transactions and the balance of the card often. You can check this online, after registering your card in "My Account".
For questions regarding the balance on your card or if you have noticed an unidentified transaction, please contact the call center service as soon as possible, or in any case within one year from the date of the transaction charge. The call center service staff will be happy to check and confirm the transaction details for you.
If there is an incorrect transaction, the call center service staff can start the transaction denial process for you, you may be asked to provide additional written information regarding the unidentified transaction, or fill out a denial form. Please help them assist you by providing as much information as you can.
Click here for more details on how to download and fill out the denial form.
What happens if I encounter a problem when using my MasterCard?
If you experience a problem when using the card, first check:
- Whether the balance on the card is sufficient to make the purchase.
- The correct PIN was entered. In the section “How…?” is an explanation about receiving reminders.
- Business in which the purchase is made honors MasterCard.
- The card has a limit on the amount of the withdrawal or purchase - for example, the maximum amount that can be spent in a business. The restrictions can be viewed on the "Important to Know" page. In addition, some cash withdrawal devices have an amount limit set by the business.
Note: If the ATM screen displays the question: "Which account?" you should choose the "Credit" option.
Cash can be withdrawn from an ATM in the amount of up to the amount available in the card (including the incidental fees) and if the amount meets the limits of the amount of the ATM.
What to do if the card is lost, stolen or damaged?
Immediately call the call center service.
Our professional service staff is always ready to assist. We are available to help 24/7, in accordance with our limitations and abilities, in emergencies we can offer to transfer cash (up to the amount of the balance on the card) and/or alternate card.
How can the Postal Bank’s MasterCard be closed?
If you no longer wish to hold your card, you can withdraw the balance of the card from an ATM (subject to ATM limits) that honors MasterCard. The card can also be closed through Israel Post Office branches.
What should I do when the Postal Bank MasterCard in my possession expires?
You can transfer the balance to a new card or repay the balance (involves fees) and close the card
How can one receive another card?
For your peace of mind, you can purchase an additional card when you purchase the first card only and use it as a backup. Please note that the card cannot be handed over for use to another person. See Card Terms of Use for more information.
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