Sacombank Mastercard cards get more protection features - ‘purchase protection’ and ‘ATM protection’. — Photo courtesy of the bank

Sacombank and Mastercard have collaborated to offer ‘purchase protection’ and ‘ATM protection’ features in their payment cards.

Purchase protection offers cardholders protection from theft and accidental damage within 180 days from the date of use, whether shopping online or in person at a store, with a cover of up to VND2.25 million (US$97.15) per claim per year.

ATM protection offers reimbursement if a cardholder is robbed within 30 minutes of withdrawing money at any ATM world-wide, including first-aid costs for 12 hours if they suffer injuries due to the robbery, also with a limit of VND2.25 million per claim per year.

Sacombank Mastercard payment cards will be automatically registered for these two insurance features for free.

They already came with two other features: ‘ID theft protection – alert’ and ‘e-commerce protection,’ and with these four features, cardholders are fully protected both in terms of personal information and card transactions.

To make a claim, cardholders only need to log in and submit a claim with relevant documents at https://vn.mycardbenefits.com/.

From now through December 31 this year, when obtaining a new Sacombank Mastercard payment card or converting from a domestic payment card (magnetic card) to a Sacombank Mastercard payment card (chip card), the annual fee and ATM withdrawal fee are waived for the customer for the first year.

Also waived are fees when transferring money to accounts and domestic cards using Sacombank Pay until July 31.

The Sacombank Mastercard payment card is linked to customers’ current accounts opened at the bank. Using the card they can use the money in the account to make payments at any time anywhere, pay for purchases at POS/mPOS machines, pay online, and withdraw cash at all Sacombank ATMs nationwide, and get up to 50 per cent discounts when dining, shopping, and travelling. — VNS