“Visa cards” for zero euros in a competition between Algerian banks! – Al-Shorouk Online

“Contactless” and secured cards, focusing on deadlines and costs to win customers
New collections and diversification between classic, gold, platinum and signature cards

Algerian banks entered an unprecedented race to attract travelers abroad, after the introduction of the new system to benefit from the tourist exchange right of 750 euros for adults and 300 euros for minors. They rushed to launch new international bank cards, while providing unprecedented facilities, most notably canceling the requirement to deposit amounts in hard currency, reducing the deadlines for issuing cards, and expanding customers’ options between “Visa” and “MasterCard” cards.
Banks are now competing to attract the largest number of customers through promotional offers and additional services, in an attempt to enhance their presence in the electronic payment market, taking advantage of the significant increase in demand for the right to exchange coinciding with the summer holiday season and the frequent movement of Algerians abroad.
Abandoning the requirement to deposit euros to obtain the card is the most prominent competitive advantage among banks, as the customer can now obtain an international card designated to benefit from the right to exchange without freezing any amount in hard currency, which constitutes a major gain for citizens, especially since cards previously required opening an account in foreign currency and depositing a balance in euros or dollars, which prevented a large number of travelers from benefiting from them, due to their high cost.
In this context, the Algerian Popular Credit announced the launch of the classic “Visa” card designated for the right to exchange and travel, which is distinguished by not requiring any minimum deposit in hard currency, with an annual subscription of only three thousand dinars, and only maintaining a balance of no less than ten thousand dinars in the account in dinars to cover management expenses. The bank also explained that the card is issued within a maximum period of twenty-one days, with the possibility of using it for electronic payment and cash withdrawal outside the country, while customers holding previous international cards continue to benefit from the right to spend on their current cards without any change.
For its part, Algeria Gulf Bank raised the level of competition by launching a wide promotional campaign for the “Golden” Visa card “Golden” under the slogan “Zero Euro Deposit,” stressing that obtaining the card does not require any deposit in hard currency, while reducing the issuance deadline to between one day and five days only, which is one of the fastest currently announced deadlines. The bank also promotes the contactless payment service inside and outside Algeria, and the possibility of using the card at various merchants and via international websites, in addition to organizing incentive campaigns. Incentive draws for Visa card users.
As for the National Bank of Algeria, it has launched the “Signature” Visa card, directed to individuals, which provides higher transaction limits compared to classic cards, in addition to distinguished banking services and easy use of the right to exchange, with the possibility of using it for electronic payment, hotel reservations, purchasing travel tickets, and withdrawing from ATMs outside the country.
In turn, the Foreign Bank of Algeria continues to promote “MasterCard” cards designated for benefiting from the tourist grant, which allow their holders to make payments at merchants and withdraw cash from ATMs outside the country, within the framework of the new exchange right system.
Al Salam Algeria Bank also joined the competition by offering the “Visa” platinum card, which is one of the international cards intended for individuals wishing to benefit from advanced banking services inside and outside the country, as it allows electronic payments and withdrawals to be made across international networks, while providing an instant alert service via SMS to notify the customer of every transaction that takes place on the card, moment by moment, thus enhancing the level of security in its use, as well as providing high-end banking services suitable for travelers who move frequently.
Other banks also offer various solutions, including “Visa Classic,” “Visa” Gold, “Visa” Platinum, “Visa” Signature, and “MasterCard.” These cards differ in usage limits and accompanying services, but they share in enabling the customer to make international electronic payments, shop online, book hotels, rent cars, and pay various expenses while traveling, while providing varying levels of insurance and services according to the card category.
These measures came after the directives of the Governor of the Bank of Algeria, Mohamed Lamine Labou, who stressed the necessity of providing all facilities to those wishing to benefit from the right of exchange. Competition between banks is no longer limited to issuing cards, but has extended to reducing delivery times, abolishing the requirement to deposit hard currency, reducing fees, improving digital services, making contactless payments available, providing instant alerts, and simplifying administrative procedures, in light of the increasing demand for international cards after they were adopted as a means of benefiting from the right of exchange.
Banking circles expect these offers to expand during the coming period, with other banks entering the competition line and launching new cards with additional benefits, which will enhance the culture of electronic payment and give Algerian travelers wider options to benefit from the right to exchange and use it safely and easily outside the country.