Although the Maestro logo will disappear from the Girocard from July 2023, that is not the end of the most widely used bank card in Germany. As announced by the Federal Association of German Banks, the Girocard is to receive new functions in the future. Among other things, it should soon be possible to deposit deposits with the Girocard.
The Girocard is to receive additional functions. This was announced by the Federal Association of German Banks (BdB) as the current leader of the German banking industry. “For example, it is about the possibility of depositing a deposit, for example when reserving a hotel room or a rental car,” said the deputy of the BdB general manager, Henriette Peucker, of the German Press Agency in Frankfurt. “And also about consistently bringing the Girocard to the smartphone and opening it up for in-app payments.”
The aim is to close gaps in the Girocard in competition with other payment methods, explained Peucker. The Girocard, which is still called the “EC card” by many, is by far the most used bank card in Germany with 100 million copies issued. Peucker emphasized: “The termination of the Maestro function may have given the public the wrong feeling that the Girocard can no longer be used as it was before. But the opposite is true.”
The abolition of the Maestro function – an offer from Mastercard – will take effect on July 1, 2023. The credit card provider Mastercard justified the step, among other things, by the fact that cards with the Maestro function are not compatible with many online portals. So far, owners of giro cards with a blue and red Maestro logo have been able to use this card to pay and withdraw money abroad without any problems. According to the DK, banks and savings banks are now choosing new partners for using the Girocard abroad or have already replaced the function.
