Questions and answers
1. Why does Nordea replace Visa credit cards with MasterCard credit cards?
Nordea wants to clarify its offering of credit cards. This is the reason why Nordea credit cards will be MasterCards in the future.
2. When will customers receive the Nordea credit cards replacing the Visa credit cards?
The bank will begin to send the new Nordea credit cards in May 2014, a process that will continue until the autumn, with the exception of July.
3. When will the Visa credit cards stop functioning?
The Visa credit cards will stop functioning in the autumn after the bank has delivered the new Nordea credit cards to the customers. Detailed information on the new cards and on the termination of the validity of the current Visa credit cards will be provided to the customers in connection with the delivery of the new cards.
4. What will the change mean to a Visa credit card holder?
Customers will receive the Nordea MasterCard credit card with a new appearance. The cards can be used at stores that accept MasterCard. In addition, on 1 May 2014 the terms and conditions of Nordea Visa credit accounts will change to the terms for Nordea cards' credit accounts. As a new feature, customers can link the K-Plussa feature to the new Nordea credit card. The K-Plussa feature makes it possible to pay for purchases and to gain the K-Plussa loyal customer benefits with one and the same card.
5. Do the use and features of the Nordea MasterCard differ from the Visa credit card?
The new Nordea credit cards will be linked to the current credit accounts and combination cards will be linked to current bank accounts. The new credit cards will include the same basic card and credit features and additional services as the current Visa credit cards. For example, the card's PIN, credit limit, repayment percentage and invoicing method and the fees of the card and credit will remain the same. A new feature is that the customers can use a PIN of their choice if they have Nordea's access codes.
Both the MasterCard credit card and the Visa credit card can be used for purchases and ATM use globally. The majority of merchants accept the cards of both card companies. Nordea MasterCard can be used globally at over 34 million points of sale.
6. Will the current insurance benefits also be valid with the new Nordea credit cards?
The Visa credit cards' Product Safety Insurance will also be valid with the new Nordea credit cards in accordance with the terms and conditions of the insurance (insurance is valid during the card's validity). The foreign travel insurance of the Nordea Gold credit card will also be valid with the Nordea credit cards. The terms and conditions of Nordea Gold credit cards' travel insurance will be updated as of 1 April 2014. The insurer is AIG Europe Limited (branch).
7. Will Nordea's product offering include Visa cards in the future?
Nordea's debit cards (card transactions debited to a bank account) will continue to be Visa cards. The product offering includes the Nordea Debit and Nordea Electron cards. Nordea Debit is an excellent choice in addition to the Nordea credit card, for example, when you are travelling abroad.
8. Will customers who already have a MasterCard from Nordea's card offering get another corresponding card to replace the current Visa credit card?
Customers can have several payment cards alongside with the new Nordea credit card, for example, two MasterCards. A second MasterCard can make everyday life easier and give security when travelling abroad, for example. In addition, the MasterCards of Nordea's cooperation partners give customers many benefits.