Savings banks are issuing cards with a new payment function

Savings banks are issuing cards with a new payment function

Just one month after the issuance stop for new Maestro cards, savings bank customers have received around 2.8 million cards with an alternative payment function. The new customer cards combine the familiar Girocard with debit functions from the providers Mastercard or Visa.

The international payment function Maestro, which has not been offered by its provider Mastercard for new cards since July 1, is no longer included because it is not accepted in many online shops. However, Maestro cards that have already been issued remain valid. According to the savings banks, the system will remain active until the end of 2027.

Exchange of all cards in the next three years

The German Savings Banks and Giro Association (DSGV) confirmed that the Savings Banks Finance Group intends to convert all of its around 46 million active Savings Bank cards to the new procedure over the next three years. “The new Sparkasse cards offer the greatest possible acceptance worldwide and can even be used for online payments,” explained DSGV board member Joachim Schmalzl according to a statement.


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