Are you looking for a card that can offer you a convenient way to shop, dine, and transfer funds at the click of a button? The Philippine Savings Bank’s (PSBank) Mastercard might just be your answer.
The PSBank Mastercard is primarily a debit card that is accepted in over 43.3 million establishments worldwide. You can use your card to withdraw cash, pay for purchases, services, and your bills.
We’ve researched online to save you some time and hassle so you can get all the info about the features of this card. Up next, we’ve got all the information you need to determine if this card is for you, and how to apply.
PSBank Mastercard’s Features
The PSBank Mastercard enables you to shop and dine at over 40 million Mastercard-affiliated merchants worldwide. That’s not all; you can also enjoy the perks of online shopping and pay once-off and recurring bills hassle-free.
While the card allows you to withdraw cash from any ATM all across the Philippines, you can also use it worldwide at any Mastercard/Maestro/Cirrus ATM. This makes it unnecessary to travel with cash. What’s more;
The PSBank Debit Mastercard is an interest-bearing account, which means that deposits of up to P 500,000 are insured by the Philippine Deposit Insurance Corporation (PDIC).
You cannot only view your account statement in detail but also check your available account balance via ATM, online banking, and mobile banking from the comfort of your home.
You can even use your card to download songs, apps, and games and order books and gadgets from Amazon.
Pros and Cons of the PSBank Mastercard
You can get approved on your personalized card within 30 minutes or less and get 24/7 access to ATMs and online services.
PSBank also offers worldwide customer service with round the clock support from resolution specialists. Another pro is the bank’s Zero Lost Card Liability.
This means that if your card ever gets lost or stolen, you are protected against fraudulent purchase transactions from the moment you report the loss.
There is a daily purchase limit for point-of-sale (POS) purchases, and online shopping is set at PHP 25,000. The limit applies to individual and joint accounts. However, you can apply to adjust the limits.
PSBank Mastercard’s Fees and Rates
- Annual membership fee: Perpetually waived
- Retail monthly effective interest rate: 3.54%
- Cash advance monthly effective interest rate: 3.96%
- Cash advance fee: PhP500 or 3% of the cash advance amount availed, whichever is higher. Additional PhP500 if transacted over-the-counter
- Card replacement fee: PhP400
- Over limit fee: PhP700 per occurrence
- Late charges: PhP700 or 7.5% of the minimum amount due, whichever is higher
- Installment pre-termination fee: 5% of the remaining principal balance of PhP500 whichever is higher
- Returned check fee: PhP1,000 for every returned check
- Account maintenance fee: PhP200 or an amount equivalent to the credit balance, whichever is lower (for closed accounts)
- Gaming services transaction fee: 5% of the amount transacted
- Statement reprinting fee: PhP100 per request for printing and delivery of a monthly statement
- Multiple payment fee: PhP50 each payment made over two within a calendar month
Eligibility and How to Apply
The bank will need at least a valid ID, proof of income (at least PhP180,000 per annum), signed PSBank Credit Mastercard Application Form, and proof of identification.
They will consider applications from employed and self-employed individuals. Under certain conditions, applications from foreigners can also be reviewed.
To apply for your PSBank Mastercard go to any PSBank branch or call its Customer Experience hotline at 632 8845-8888.
PSBank’s Address and Contact
The street address of PSBank head office: Ground Level PSBank Center, 777 Paseo de Roxas Avenue corner Sedeño Street, Makati City 1200, Paseo Center – Sedeno Pedestrian Underpass, Makati, Metro Manila, Philippines.
If you want to phone you can reach them on +63 2 885 8208
Because of the PSBank Debit Mastercard’s features and affordable fees, this could be a worthy option for you. But remember to check out all your credit card options before applying.
Disclaimer: There are risks involved when applying for and using credit products. Ensure you consult PSBank Mastercard’s terms and conditions before agreeing on anything.