Monobank blocks MasterCard cards

In early 2025, Monobank initiated a transition from MasterCard to VISA cards, citing more favourable cooperation terms offered by VISA for the next five years. 

As part of this process, an information campaign was conducted among customers, inviting them to voluntarily switch to the new cards. Those who did not manage to do so had their MasterCard cards blocked, and VISA cards were automatically issued in their place. However, this approach caused dissatisfaction among some users.

One of the bank's customers told the "Minfin" portal that she encountered a card block. "I tried to understand the reason for the block and found out that Monobank had reissued my card without my consent. I filed a complaint, and shortly after, the bank reissued all my foreign currency cards, without prior notification," she said.

In response, Monobank representatives reminded that the transition from MasterCard to VISA is already underway. The bank had offered customers to switch to new VISA cards, and a new card had already been created for the customer in question. Meanwhile, cashback on MasterCard cards was discontinued on 25 November 2024, and the MasterCard itself will cease to function during 2025.

"Your MasterCard continues to function so that you can have time to order a VISA card and update your payment details on all necessary resources," Monobank explained in response to the complaint.