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Features at a glance of MBL VISA Credit Cards
01. MBL Platinum Credit card:
MBL introduce an advanced product of VISA named VISA Platinum Credit Card by which customers get higher status than existing Gold product.
02. Priority Pass:
MBL Platinum Cardholders can avail priority pass by which the cardholder with accompanying guest can enjoy the following facilities:
Enjoy access to over 700 VIP lounges at Airport in more than 120 countries and 400 cities Worldwide.
Complementary refreshment and snacks.
Email, internet and conference space.
03. Credit facility:
Mercantile Bank Ltd. VISA Credit card offers maximum 45 days credit facilities free of interest and minimum payment is 5% of outstanding billing amount for easy repayment and convenience of the customers.
04. Dual Card (Two in one):
Single Card with double benefits. No hassle to carry two cards (local and international). A single Credit Card can be used both locally and internationally to withdraw cash from ATM and for POS transaction. This is the special feature of MBL Visa card.
05. Debit Card:
VISA debit card is mainly tagged with deposit account (CD/SB/STD) that is automatically debited from the A/C having available balance. Debit card also be used for purchasing goods, services, payment of utility bills etc as well as withdrawal of cash from ATM.
06. Prepaid Card:
Those who have no account with MBL may avail Pre-Paid card facilities. Pre-Paid card may be equally used at home and abroad. The Pre-Paid cardholders pay first buy later. Pre-paid card offers the convenience and security of electronic payment in situations where one might otherwise use cash, such as a birthday gift or a monthly allowance for a young adult. Example includes gift cards and salary payment etc.
07. Acceptability:
International / Dual credit card is accepted all over the world at millions of outlates and ATMs. A dual/local card is also accepted in most of the cities like Dhaka, Chittagong, Khulna, Rajshahi, Sylhet, Bogra at ATMs and POS (Point of Sales). It covers various types of merchants like hotels, restaurants, airline & travel agents, shopping malls and departmental stores, hospitals and diagnostic centers, jewelers, electronics & computer shops, leather goods and shoe stores, mobile phone and internet service providers, fuel station and what not having VISA logo! This number is progressively on the rise.
08. Supplementary Card:
MBL Credit Card gives its cardholder the opportunity to share the benefits of his card with his dear ones by providing his supplementary cards completely free of cost for 1st one. One can provide more than one card to his dear ones. Being a primary cardholder, he has the option to set a spending limit for each of his supplementary cards.
09. No cash advance fee:
For withdrawal of cash from MBL ATM by MBL cardholders no cash advance fee and from any other Q-cash ATM the fee is Tk.10 only. Moreover, our VISA cardholders can also withdraw cash from any Visa logo ATM locally and internationally.
10. Advance against Credit card:
MBL Cardholder can withdraw cash up to 50% of your total credit limit 24-hours a day from any MBL ATM or any Q-Cash ATM or any VISA logo ATMs across the country; or from any VISA ATMs worldwide. You do not need to worry of carrying cash anywhere – not even on a foreign trip when there is no one to give you hard cash at time of need. MBL Credit Cards shall always be with you.
11. Card Cheque facility:
MBL Cardholders can enjoy card cheque facilities by which they can enjoy a full-fledged cheque book facility .A cardholder can make payment (account payee only) to any person or organization of his choice. This cheque book is useful with situation where you cannot use your credit card (e.g. tuition fees, rent, or any other purpose). Cardholders can enjoy this interest free facility upto 45 days. Hence only 1.50% processing fee will be charged on total credit amount for one time.
12. Credit shield facility:
MBL introduced double benefit Insurance program for its cardholders by paying a nominal premium by the cardholder. In the event of death or permanent disability of the cardholders the entire Card dues (of the Cardholders) shall be adjusted and the cardholders or his / her family will get equal amount to meet immediate expenses from insurance company.
13. Lost or stolen of Card:
If card is lost or stolen, just make a call to our customer service center, at Head Office, Card Division which is open to receive the call for 24 hours a day 365 days in a year. We shall stop operation of your card instantly at the call. But for replacement of card customer should apply in writing.
14. SMS Alert
MBL cardholders are notified about their monthly outstanding balance every month through SMS alert so that he never forgets his outstanding amount and payment due date.
They are also notified about their transactions make at pos or ATMs and deposit message payment of card bills.
15. E-Mail Service:
MBL cardholders can receive monthly statements via e-mail, completely free of cost. This is a fast, reliable and efficient service, which will minimize your paperwork and maximize convenience.
16. Auto debit facility:
MBL cardholders who have the account (SB, CD, SOD, STD A/C etc.) with any branches of MBL have the option to make the payment of their monthly credit card bill (either the minimum amount due or the total amount due) through direct auto debit standing instruction from their A/C. It helps our customers not to stand in long queues to pay their monthly bills and save valuable time.
17. 24 Hour Customer Service Centre
MBL Card Division Customer Service Center is open 24 hours in a day, 7 days in a week, 365 days in a year to ensure customers queries regarding MBL VISA Credit Cards/Debit cards being handled efficiently and promptly by our officers.
18. Card Up-gradation
After a specific period of time of having a good transaction profile with MBL Visa Credit Card, cardholders can upgrade their product group to a higher product category and increase their credit limit accordingly.
19. Card Limit:
BDT 10,000.00 to BDT 10,00,000.00 (unsecured)
20. EMV:
We have introduced EMV chip-based Card. EMV is the global standard for chip-based Card. This new technology can reduce the chances of your Card information being cloned and used by fraud syndicates for fraudulent transactions.
21. Verified by Visa:
Verified by Visa is a global solution designed to make online purchases more secure by helping ensure payments are made by the rightful owner of the Visa account. Verified by Visa works behind the scenes when you're shopping online, confirming the purchase and fraud protection. This adds an extra layer of security when customer enter credit card information online This helps make certain that you’re the only person using your card online.
22. Balaka Lounge:
Complimentary Access to Balaka Lounge at Hazrat Shah Jalal International Airport round the year for you and your companion (Gold & Platinum International/Dual Card Only).
Repayment:
I. Credit Card account statement is generated on monthly basis if there is any outstanding in the cardholder account.
If the cardholder repay the entire amount within due date of payment no interest will be charged and thereby cardholders enjoy maximum 45 days credit facilities without interest for POS transactions.
If the cardholder repay the minimum payment amount as show in the credit card account statement within the payment due date then no late payment penalty will be charged.
Calculation of minimum payment:
When the outstanding in the statement is less than or equal to the credit limit, the minimum payment for the current month is as under:
a) For international card: 5% of the billing amount or USD 25 whichever is higher. If the billing amount is less than USD 25, it should be paid in full.
b) For local card: 5% of the billing amount or Tk. 500 whichever is higher. If the billing amount is less than Tk.500, it should be paid in full.
When the billing amount in the card account statement is more than the credit limit, the minimum payment is 5% of the credit limit plus excess amount of credit limit.
If the cardholder fails to pay the minimum of the current month bill then in the next month the minimum payable amount plus previous month’s minimum amount.
Interest:
In case of POS transactions, if entire amount is not paid within the payment due date, interest will be charged @2.25% per month on daily basis from the date of transaction.
In case of cash withdrawal, interest will be charged @ 2.25% per month on daily basis from the date of transaction irrespective of payment due date.
Cash advance fee:
a) MBL Card to MBL ATM : No cash advance fee
b) MBL Card to other Q-cash ATM : Tk. 10 per transaction
c) NPSB Network : Tk. 15 per transaction
d) MBL Card to other VISA ATM : Tk.40 per transaction
e) For international Card : USD 3 or 2% of transaction amount Whichever is higher.
Deposits
Current Deposit Account
Savings Bank Account
Special Noticed Deposit Account
Fixed Deposit Account
Double Benefit Deposit Scheme
Family Maintenance Deposit
Monthly Savings Scheme (MSS)
Quarterly Benefit Deposit Scheme
1.5 Times Benefit Deposit Scheme
School Banking
Education Planning Deposit Scheme
Super Benefit Deposit Scheme
Loans
Home Loan
Cottage Loan
Car Loan
Personal Loan
House Furnishing Loan
Doctor's Loan
Education Loan
Secured Over Draft (SOD)
Refinance Scheme for Green Product/Initiatives
Krishi / Polli Loan
Credit Cards
Platinum Card
Gold Card
Classic Card
Fees & Charges
Debit Cards
MBL VISA Debit Card