No USD, no service: Steward Bank restricts MasterCard Debit card limits

   

We seem to be getting more and more alteration notifications from our banks or mobile money platforms; most, if not all bearing bad news.

Just this morning we got a blow from EcoCash, informing us that they have suspended their MasterCard online payments service. Now, here is another ‘MasterCard blow’ from Steward bank…

 

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MasterCard Notice

Dear valued customers

Due to the foreign currency challenges, the bank will be implementing international limit restrictions on Steward Bank MasterCard Debit card. Consequently, with effect from the 16th of August 2017, customers will only be able to access value on the debit card against pre-funding in foreign currency and cash in bond notes, up to the monthly limit of $10,000. Customers can load value on their cards in any of their branches. All local transactions will not be affected.

We sincerely apologise for the inconvenience caused which, unfortunately, is beyond our control. We assure all our valued customers that this position will be under constant review in accordance with prevailing market conditions.

 

In this cash crisis, this likely means stashing your Steward bank MasterCard in the draw since you now strictly need cash to load your card before you can use it.


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