Visa Debit Card

Product Description

  • A debit card is a plastic that allows the holder to withdraw cash and it can also act as payment card that can be used instead of cash when making purchases.
  • The card can be used at any VISA branded ATM to withdraw cash and POINT of SALE (POS) machine to make payments for purchases
  • Unlike a credit card, with a debit card, the money comes directly from the user’s bank account when performing a transaction

Transaction Monitoring

  • NBM account card holders, if need be, will have online access to transactions over our Internet Banking (BankNet Online) and Mo626ice email and SMS Alerts for those with bank accounts with NBM. Additional details will be collected to enable access to these platforms. 
  • In case the customer would like to monitor transactions (in such cases where cardholders are to account for every transactions or for specific common corporate cards), the customer will be given access to monitor such accounts through BankNet Online at a fee.

Benefits

  • You can withdraw cash at any ATM displaying the VISA symbol
  • No need to carry cash, You can pay for your purchases or services on any POS machine at the shop.
  • You can use you card worldwide
  • If lost it can be replaced as opposed to cash

Security

  • Your card is PIN protected
  • You are required to enter your PIN to authorize any transaction on both ATM and POS. Customers with contactless card, may not always be required to enter PIN for low value transactions
  • The card will be BLOCKED if a wrong PIN has been entered three times and you will need to contact the Bank to.

New Card

Debit cards Cost of card  & Annual Fee

Classic card MK 5,500  - Annual Fee MK 3,300

Instant Card MK 6,600  

Gold MK 9,500 - Annual Fee MK 4,400

Platinum MK 15,200 - Annual Fee MK 5,000

Transaction Charges

  • There are no transaction charges if a card is used on a POS device worldwide.
  • There is an interchange-based transaction charge if used to access cash at a non-NBM ATM and on a manual cash counter in the country andworldwide.
  • This charge is normally a pass-on charge from the acquiring bank.
  • Transactions on an NBM ATM are free.

Card Daily Limits

Debit card ATM Withdraw Purchase on POS

Visa Classic card MK 250,000 - Withdraw Purchase on POS MK 1,200,000

Visa Gold card MK 350,000 - Withdraw Purchase on POSMK 2,000,000

Visa Platinum card MK 450,000 - Withdraw Purchase on POS MK 3,000,000

Preapproved Forex limits

Card Product Forex Limit

Classic USD1,500 - E-Commerce Limit (Online) USD 250

Gold USD2,500  - E-Commerce Limit (Online) USD 1,000

Platinum USD4,000 - E-Commerce Limit (Online) USD 2,000

mission-vision

 Vision

To be the most successful financial institution in Malawi with international visible presence.

Mission Statement

To provide the best financial services in Malawi and internationally, distinguished by outstanding service, product innovation and sustained earning.