Credit Cards

Cembra Money Bank began offering credit cards in November 2006 through its cooperation with Migros, the largest retailer in Switzerland. Since then, Cembra Money Bank has added to its range of credit cards and now also runs partner programmes with Conforama and TCS. It also has its own brand credit card which is primarily offered as an additional product through its branches. All credit cards issued by Cembra Money Bank are Mastercard credit cards and the Company holds a Mastercard licence. To differentiate itself from its competitors, Cembra Money Bank has developed its own in-house transaction processing network which allows partner retailers to benefit from reduced processing fees when compared to Mastercard-processed transactions. Cembra Money Bank also offers an e-service platform for its customers to check their account details and activity online.

Cembra Money Bank earns income on its credit card products from interest charges and various fees such as annual fees, foreign exchange fees, cash withdrawal fees, reminder fees, card replacement fees, processing fees from credit card partners using the Company’s network and interchange fees through the Mastercard programme.

As at 31 December 2015, Cembra Money Bank offered four different credit cards and had a total of approximately 655,000 cards in issue.