Question 1

Is a MasterMoney® card like a credit card?

Mike Robertson · Accepted Answer

No. With a credit card, you are actually borrowing money against an established line of credit, which you must repay, either all at once or in the form of extended payments.

A MasterMoney® Card is another way to make your share draft account more flexible. When you make purchases or take an ATM cash withdrawal with your MasterMoney® Card, you are accessing funds available in your share draft account. Transactions are automatically deducted from your share draft balance, so you must ensure that sufficient funds are available in your share draft account for purchases are paid on MasterMoney® Card transactions.

Question 2

Is a MasterMoney® card like a credit card?

Mike Robertson · Accepted Answer

No. With a credit card, you are actually borrowing money against an established line of credit, which you must repay, either all at once or in the form of extended payments.

A MasterMoney® Card is another way to make your share draft account more flexible. When you make purchases or take an ATM cash withdrawal with your MasterMoney® Card, you are accessing funds available in your share draft account. Transactions are automatically deducted from your share draft balance, so you must ensure that sufficient funds are available in your share draft account for purchases are paid on MasterMoney® Card transactions.