Why am I receiving a Bank of Ireland MasterCard? I didn’t ask for one.
Following a review of our credit card business, we appointed MasterCard as our strategic partner for all business credit cards. Choosing MasterCard enables us to offer you a wider range of benefits such as contactless functionality and Bank of Ireland CardController.
There are no changes to your existing benefits and the new card will offer you:
- A great cash-flow management tool for your business
- An easy way to track business spend via the monthly statement
- Helps reduce bank charges with no transaction fees for Euro payments
- Up to 37 days’ interest-free credit
- Comprehensive travel insurance. We sent a letter to your company contact in April 2016 who should have advised you that you would be receiving a replacement card.
I don’t want to change my card - can I keep my existing card?
We made a decision to engage MasterCard as our sole credit card scheme. This means we are no longer issuing Visa business credit cards. However, please remember there have been no changes to existing features and the new card has enhanced payment functionality such as contactless functionality and new features such as Bank of Ireland CardController.
- Will the Visa card work in any circumstances after migration after it has been cancelled?
- I got a letter about my cards being replaced but my new cards have not arrived.
- Do I need to register my new card number with service providers?
- Will the old Visa card be linked to the new MasterCard for disputed transactions under investigation with our chargeback team?
- Is MasterCard accepted widely?
- If I have a Gold Card do I need to re-register for Gold Visa Business Online again?
- Do I still have access to Aer Lingus lounges with my new gold card?
- Is there any change to the date the direct debit will come out of my account?
- Will my PIN number change?
- Will my statement date change?
- Will my credit limit change?
- Will I be charged an additional stamp duty for the new MasterCard?
- Will any rates, fees and charges change?
- Do I need to set up my card again on 365 Online/Business on Line?
Do I need to register my new card details for 3D Secure?
Yes, when you receive your new business credit card you will need to register your new card details with MasterCard SecureCode™ when making an online purchase with your new card at a participating retailer. MasterCard SecureCode™ helps protect against card fraud when you make online purchases. You will be prompted to register when you make an online purchase at a participating retailer.
How do contactless payments work?
Contactless enables you to make payments for purchases up to the value of €30 in seconds. There is no need to put your card into the terminal or enter your PIN; all you have to do is hold your credit card against the card reader to complete your transaction.However before you use your card for contactless payments you must have conducted a Chip and PIN transaction which has been sent to us for authorisation before the Contactless feature can be used.
I am concerned that the new Contactless Card will leave me open to fraud? How am I protected?
Once you report your card lost or stolen you are not liable for any loses.
In addition there are a number of fraud prevention measures for example, encryption -unique to every purchase - protects your transaction data. Also your card never leaves your hand, reducing the risk of counterfeiting. Contactless Cards include the latest security features required by the payment card industry.
What is Bank of Ireland CardController?
Bank of Ireland CardController is a new service designed to enable businesses to place additional purchase controls and budget controls on employee cards.
Businesses choose from a number of controls and settings to apply to their cards such as:
- Blocking certain types of transactions on employee credit cards such as online, international or ATM transactions (BOI ATM transactions or offline transactions will not be blocked by CardController)
- Limiting use of the credit card to specific merchant groups such as Travel or Business Services.
- Allowing card spend at certain times e.g. Monday to Friday but not weekends. Customers can register up to 25 business credit cards. This is an optional service which customers can choose to enrol for and there is no charge for the service.
For more details and how to enrol, log on to www.bankofireland.com/cardcontroller.