Major Banks Announce Changes to Debit and Credit Card Offerings
Erste, Raiffeisen, and MagNet Banks set to implement significant updates to their card products by mid-2025.
A number of large banks, including Erste Bank, Raiffeisen Bank, and MagNet Bank, have announced significant changes to their debit and credit card offerings scheduled for implementation in the coming years.
MagNet Bank has declared that, effective June 30, 2025, it will only offer the Mastercard Standard card.
Customers currently holding the Mastercard Basic and Mastercard Embossed cards will continue to use them until their expiration or until a replacement is issued, with no action required on their part.
The fees for the Mastercard Standard, which will be the only card available, remain consistent with those of the previous Mastercard Basic based on the tier chosen—0 HUF for the Basic package, 361 HUF for the General package, and 281 HUF for the Star or Diamond packages.
Raiffeisen Bank is set to transition its Visa Gold and Mastercard cards to a new type of Visa debit card starting June 1, 2025. This switch will occur at no cost to customers, and the bank has assured that the associated fees and costs will not be negatively impacted.
Customers exchanging their Mastercard Platinum debit cards for the new Visa Platinum cards will benefit from potentially lower fees associated with the new card types.
As of June 25, 2025, Raiffeisen will no longer issue either personal or business Mastercard debit cards, meaning that any renewals or additional cards will instead be Visa debit cards.
Customers will receive the updated replacement or additional cards by post beginning July 1, 2025, sent to the address they have provided.
At Erste Bank, the card replacement process will occur in several phases for retail, corporate, and credit cards.
Initially, customers will receive Visa Debit cards in place of Mastercard Start and Mastercard George cards, while Mastercard Standard cards will be replaced with Visa Classic cards.
The fees and services associated with these cards are also expected to remain unchanged, with no alterations to domestic, international, and online payment capabilities, nor to the security for international transactions.
However, the new cards will feature updated card details including a new card number, expiration date, and CVV/CVC code.
They will also lack a signature panel and will be introduced with a modern design.
It has been emphasized that the new cards must be activated before their first use.
Customers intending to make payments with smart devices will need to re-add their cards to their chosen digital wallet applications and update their subscription services, such as Netflix and Spotify, with the new details.
In response, the banks plan to provide assistance by uploading a list of subscriptions related to the old card on their mobile and online banking platforms.
The financial institutions indicated that they have already adopted a single-card model in several countries, citing the need for a broader range of services.
This strategy is intended to expedite the renewal processes for cards and related services while maintaining the same fee levels.
Additionally, the conversion to platform-based operations is seen as essential for the development of card and payment systems, thereby simplifying the transition process.
As a result, numerous new card functionalities are expected to be introduced in the future.
MagNet Bank has declared that, effective June 30, 2025, it will only offer the Mastercard Standard card.
Customers currently holding the Mastercard Basic and Mastercard Embossed cards will continue to use them until their expiration or until a replacement is issued, with no action required on their part.
The fees for the Mastercard Standard, which will be the only card available, remain consistent with those of the previous Mastercard Basic based on the tier chosen—0 HUF for the Basic package, 361 HUF for the General package, and 281 HUF for the Star or Diamond packages.
Raiffeisen Bank is set to transition its Visa Gold and Mastercard cards to a new type of Visa debit card starting June 1, 2025. This switch will occur at no cost to customers, and the bank has assured that the associated fees and costs will not be negatively impacted.
Customers exchanging their Mastercard Platinum debit cards for the new Visa Platinum cards will benefit from potentially lower fees associated with the new card types.
As of June 25, 2025, Raiffeisen will no longer issue either personal or business Mastercard debit cards, meaning that any renewals or additional cards will instead be Visa debit cards.
Customers will receive the updated replacement or additional cards by post beginning July 1, 2025, sent to the address they have provided.
At Erste Bank, the card replacement process will occur in several phases for retail, corporate, and credit cards.
Initially, customers will receive Visa Debit cards in place of Mastercard Start and Mastercard George cards, while Mastercard Standard cards will be replaced with Visa Classic cards.
The fees and services associated with these cards are also expected to remain unchanged, with no alterations to domestic, international, and online payment capabilities, nor to the security for international transactions.
However, the new cards will feature updated card details including a new card number, expiration date, and CVV/CVC code.
They will also lack a signature panel and will be introduced with a modern design.
It has been emphasized that the new cards must be activated before their first use.
Customers intending to make payments with smart devices will need to re-add their cards to their chosen digital wallet applications and update their subscription services, such as Netflix and Spotify, with the new details.
In response, the banks plan to provide assistance by uploading a list of subscriptions related to the old card on their mobile and online banking platforms.
The financial institutions indicated that they have already adopted a single-card model in several countries, citing the need for a broader range of services.
This strategy is intended to expedite the renewal processes for cards and related services while maintaining the same fee levels.
Additionally, the conversion to platform-based operations is seen as essential for the development of card and payment systems, thereby simplifying the transition process.
As a result, numerous new card functionalities are expected to be introduced in the future.
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