• Ideas

  • Insurance and buyer protection when using Mastercard

Almost every Credit MasterCard or Visa issued in the Netherlands are from ICS, and they all have got a pretty good insurance system, if the item doesn't arrive or if something happens to it within the first 180 days after buying, you're insured for almost everything, if the item breaks, if it gets lost, stolen, etc... the same insurance applies for the prepaid card issued by ICS


How is it with a Bunq MasterCard? I was disappointed to hear from the German competition that their debit MasterCard doesn't offer anything more than a "you can file a dispute" if the item doesn't arrive, no other kind of more premium insurance .

    4 months later

    Is it @bunq?

      Hey Rob,


      As Jasper said, we currently do not have that implemented. If something happens after a Mastercard payment, you are allowed to ask for a chargeback in a chat with support though. They will guide you through the process 👍

        2 months later

        The German competition does offer insurances... It's their Black card which is offered in the Netherlands now too!

          I think it is quite simple: Insurances aren't a free gift just because they like you or because the sun is shining. MasterCard earns a lot more money with credit cards then with a debit cards. So, it's not that surprising that a credit card comes with more 'free' extras. And you also should take a look at the terms and conditions of those insurance s :) And the end, you pay for these insurances. I rather would have a low price :)

            Debit or credit, you are (or rather the shop is) paying the same fees when paying with a MasterCard.

            While a Maestro transaction costs like 10 cent, a MasterCard takes X%.


            Further the prepaid MasterCard from ICS is like 15€ a year or so, much cheaper than Bunq Premium, and it manages to include the basic insurance, that is buyer protection and 6 month after sale insurance.


            My mom had her watch stolen at the gym, she bought it in Malaysia with her creditcard, after the house insurance said they only covered 250€, she called ICS and after sending the form, in 4 days they've payed the whole amount minus 50€ fees.

              Hi Renato, that is good to hear that you mother got reimbursed for the watch. A perfect deal from a customers point of view.

              But I think there is a little catch here. Are far as I can see, you have to transfer money to ICS to put it on your prepaid card. That makes me wonder. I think that ICS uses this money to make money, because you won't use the whole amount on the your card right away. That would be a way for ICS to finance your insurance. This is exactly the difference with bunq, their don't do anything with your money.

              My whole point is that this insurances aren't free so somehow someone is paying :)

                2 years later

                Hi bunqers,

                We recently added a purchase protection and extended warranty to our Green Card. This means that, in case something mistakenly happens with your Green Card payment, you’re covered! For a full list of situations you’re insured for.

                You can find more information about it on this together topic 🌈

                  Write a Reply...