Major Banks Initiate Card Replacements in Hungary
First Bank Customers Affected by Transition from MasterCard to Visa Cards
Several banks in Hungary have announced significant changes to their credit and debit card offerings, primarily involving a transition from MasterCard to Visa.
Both retail and corporate clients could be affected by these changes, which have been confirmed by major banking institutions including Erste Bank and Raiffeisen Bank.
MagNet Bank is also making adjustments, opting to limit its offerings exclusively to Visa cards moving forward.
Starting June 30, 2025, MagNet Bank will cease to issue MasterCard Basic and MasterCard Embossed debit cards.
Existing cards will remain valid until their expiration date or until replacement is necessary, meaning cardholders will not need to take any immediate action.
From July 1, 2025, the only card available will be the MasterCard Standard.
New cards will be produced using laser engraving technology.
Raiffeisen Bank will replace its MasterCard and Visa Gold debit cards with new Visa debit cards beginning June 1, 2025. The card replacement process will incur no charges, and the existing fees and costs associated with the cards will not change unfavorably, according to the bank’s announcements.
Some changes in fees associated with the Visa Platinum card may even be more beneficial than those linked to the current MasterCard Platinum offerings.
After June 25, 2025, the bank will no longer issue MasterCard debit cards for personal or business accounts.
Customers will receive new Visa debit cards when their current cards require renewal or when a replacement is requested due to loss or damage.
Erste Bank is also transitioning its retail and business debit and credit cards to Visa in stages.
Initially, the affected cards include the MasterCard Start, MasterCard George, and MasterCard Standard, which will be replaced by Visa Debit and Visa Classic cards respectively.
The transition will not impact fees or services associated with these cards, such as the automatic travel insurance tied to the Visa Classic.
However, key card data will change, including the card number, expiration date, and CVV/CVC code.
New cards will not require signatures and consequently will not have a signature panel.
Customers will need to activate their new cards before use, and those utilizing mobile payment options must add the new cards to their digital wallets, such as Google Pay, Apple Pay, Garmin Pay, and Xiaomi Pay.
As card data will update, it is required to refresh card information for online subscriptions, including platforms such as Netflix, Spotify, and Wolt, for which the bank will provide assistance by offering a list of existing subscriptions through mobile and online banking platforms.
Erste Bank has indicated that it has already implemented a single-card model in several countries, including the Czech Republic and Slovakia.
This transition facilitates the modernization of card and related services while allowing for a broader range of offerings at unchanged fee levels.
Streamlined processes will enable the introduction of new card services in the future that are not currently available to customers.
Both retail and corporate clients could be affected by these changes, which have been confirmed by major banking institutions including Erste Bank and Raiffeisen Bank.
MagNet Bank is also making adjustments, opting to limit its offerings exclusively to Visa cards moving forward.
Starting June 30, 2025, MagNet Bank will cease to issue MasterCard Basic and MasterCard Embossed debit cards.
Existing cards will remain valid until their expiration date or until replacement is necessary, meaning cardholders will not need to take any immediate action.
From July 1, 2025, the only card available will be the MasterCard Standard.
New cards will be produced using laser engraving technology.
Raiffeisen Bank will replace its MasterCard and Visa Gold debit cards with new Visa debit cards beginning June 1, 2025. The card replacement process will incur no charges, and the existing fees and costs associated with the cards will not change unfavorably, according to the bank’s announcements.
Some changes in fees associated with the Visa Platinum card may even be more beneficial than those linked to the current MasterCard Platinum offerings.
After June 25, 2025, the bank will no longer issue MasterCard debit cards for personal or business accounts.
Customers will receive new Visa debit cards when their current cards require renewal or when a replacement is requested due to loss or damage.
Erste Bank is also transitioning its retail and business debit and credit cards to Visa in stages.
Initially, the affected cards include the MasterCard Start, MasterCard George, and MasterCard Standard, which will be replaced by Visa Debit and Visa Classic cards respectively.
The transition will not impact fees or services associated with these cards, such as the automatic travel insurance tied to the Visa Classic.
However, key card data will change, including the card number, expiration date, and CVV/CVC code.
New cards will not require signatures and consequently will not have a signature panel.
Customers will need to activate their new cards before use, and those utilizing mobile payment options must add the new cards to their digital wallets, such as Google Pay, Apple Pay, Garmin Pay, and Xiaomi Pay.
As card data will update, it is required to refresh card information for online subscriptions, including platforms such as Netflix, Spotify, and Wolt, for which the bank will provide assistance by offering a list of existing subscriptions through mobile and online banking platforms.
Erste Bank has indicated that it has already implemented a single-card model in several countries, including the Czech Republic and Slovakia.
This transition facilitates the modernization of card and related services while allowing for a broader range of offerings at unchanged fee levels.
Streamlined processes will enable the introduction of new card services in the future that are not currently available to customers.
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