There are several advantages that a Maestro card provides, including:
1. The card provides instant Access to cash, without having to wait for funds to be verified and approved by a bank. This can save up to 3 weeks in some parts of the world. 2. The card provides a secure way for individuals to have fast, easy access to cash without the risk inherent with carrying cash. 3. The use of a Personal Identification Number makes the card secure in the case of loss or theft, and the individual using the card will not have the inconvenience of producing identification to complete every transaction. 4. The card can be used anywhere you see a Maestro logo and to shop online. 5. Accessing cash abroad can be done at more favorable exchange rates than if going through other traditional methods of accessing cash overseas.
Over the past several years, the number of people shopping online with debit and credit cards has increased dramatically. More good can be purchased on the Internet with each passing day, and while there are some valid security concerns when it comes to shopping online, Maestro card holders need not worry about the security of their transactions. This is because the Maestro card is tied into Mastercard's Secure Card system, which authenticates a user trying to spend money from a Maestro card online. In other words, if your card falls into the wrong hands, it will be very difficult for the funds to be accessed without permission.
The security is based on the safety of Mastercard, and not on the steps taken by the online merchant to ensure security, which can be hit and miss on the Internet. A PIN number is assigned to authorize online transactions, yet another reason that the Maestro card is one of the most secure ways that money can be sent and accessed.
Perhaps the biggest benefit of the Maestro card is the accessibility of funds. The largest ATM network in the world is the Mastercard ATM network, and Maestro card funds can be accessed anywhere on this network. There is a website that has a tool to help card users locate ATM machines anywhere in the world, and there is a toll free number (1-800-4Cirrus) that will provide ATM locations for card users in the US and Canada. Outside of North America, most financial institutions will be able to tell you where you might find an ATM that will allow you to access funds from your Maestro card.
