Debit Mastercard in Switzerland: Questions and Answers

Debit cards are the most popular payment method for settling bills at Swiss shops, restaurants, and cafés. Many Swiss consumers prefer having their bank accounts debited directly. The Debit Mastercard is the most widely used debit card in Switzerland.

Here, moneyland.ch answers the most important questions about the Debit Mastercard:

1. Can I use the Debit Mastercard to pay online?

The Debit Mastercard is a debit card from Mastercard. Unlike classic Mastercard cards, the Debit Mastercard is not a credit card.

The most important features of the Debit Mastercard are:

• All card-based payments and cash withdrawals are debited directly from your bank account.
• You can use it at POS payment terminals – at shops, restaurants, and ticket vending machines, for example – as well as at ATMs, and at online stores.
• You can use it to pay both in Switzerland and in other countries.
• You can use it to withdraw money at ATMs.

2. Can I use a Debit Mastercard to pay online?

Yes, the Debit Mastercard can be used to pay at online stores and in mobile apps, for example. That is one of the main differences between the Debit Mastercard and earlier debit cards like the Maestro and EC Card, which could not be used for online payments.

3. Where can I pay with a Debit Mastercard?

Generally, merchants that accept Mastercard credit cards also accept the Debit Mastercard. But there are exceptions. Some merchants require a credit card for security deposits. That can be the case with rental car companies, airlines, and hotels, for example.

4. Can I use a Debit Mastercard with Apple Pay and Google Pay?

Depending on the card issuer, a Debit Mastercard can be linked to Apple Pay, Samsung Pay or Google Pay just like a credit card. This is beneficial if you use mobile wallets.

5. How is the Debit Mastercard different from a Visa Debit card?

The Debit Mastercard and the Visa Debit card are very similar with regards to the functions they provide. The primary difference is that the Debit Mastercard is a Mastercard product and uses the Mastercard clearing network, while the Visa Debit is a Visa product and uses the Visa clearing network.

6. What are the advantages of the Debit Mastercard over credit cards?

Depending on the bank which issues the Debit Mastercard, card fees can be lower than those of a credit card. For example, you are often charged much less for cash withdrawals both in Switzerland and abroad when you use a Debit Mastercard than when you use Swiss credit cards.

7. What are the disadvantages of the Debit Mastercard compared to credit cards?

Many credit cards come with cardholder benefits like complimentary insurance coverage or rewards programs which generally are not offered with Debit Mastercard cards. Credit cards are also still more widely accepted for car rentals, hotel reservations and some other transactions.

8. Do I need a credit card when I can use a Debit Mastercard to pay online?

If you regularly make car rentals or hotel bookings using a card, you may encounter situations in which a credit card is required. Using a credit card can also make financial sense when the complimentary benefits provided save you money which you would otherwise spend. Carrying a credit card when you travel to foreign countries is recommended because credit cards are more widely accepted.

9. What does a Debit Mastercard cost?

Depending on the bank, annual fees for Debit Mastercard cards can be as high as 50 francs. In the case of bank packages, debit cards are normally covered by the package fee. Some Swiss banks offer Debit Mastercard debit cards with no annual fee in combination with free private accounts.

The fees and charges for using a Debit Mastercard vary between banks. Typical fees include:

• No fees for card-based payments at Swiss merchants
• A foreign transaction fee of 1.50 francs per transaction for card-based payments at foreign merchants.
• Withdrawing money at ATMs from a different bank typically costs 2 francs per withdrawal at Swiss ATMs, and 5 francs per withdrawal at foreign ATMs. 

10. Which banks offer Debit Mastercard debit cards?

Debit Mastercard cards are issued by many Swiss banks, including the Aargauische Kantonalbank, Acrevis, bank Avera, the Berner Kantonalbank, Banque Cantonale de Fribourg, Hypothekarbank Lenzburg, Raiffeisen, the Thurgauer Kantonalbank, UBS, and Valiant.

Postfinance debit cards issued since April 2022 double as a Debit Mastercard. They can be used everywhere that the Debit Mastercard is accepted, in addition to the Postfinance network.

11. How much do stores have to pay to accept Debit Mastercard payments?

In order to accept card-based payments, a merchant has to have a contract with a service provider called a merchant acquirer. Fees for processing payments vary between acquirers, but range between 1.2 and 1.7 percent of the amount you pay. Depending on the acquirer, there may be additional costs. You can find detailed information in the guide to accepting cashless payments in Switzerland.

When you pay with a Debit Mastercard or a Visa Debit card, the bank that issues your debit card receives a part of the fees that the store has to pay. This is known as the interchange fee. That was not the case with the phased out Maestro debit cards, which did not have interchange fees.

More on this topic:
Compare Swiss private accounts and debit cards
Swiss debit cards explained