What are the Net+ Virtual Mastercard® fees? (Brazil)
This article specifically applies for the Net+ Virtual Mastercard® offered in Brazil. For inquiries regarding the Net+ Prepaid Mastercard® offered in the European Economic Area (EEA) and the UK, please refer to the appropriate section.
The following services available with your Net+ Virtual Mastercard® are offered free of charge:
- Online payments
- Online statements
- Card management – including balance check, card maintenance, details retrieval, lock/unlock feature, limits management, cancellation
Is there an application fee?
The application for a Net+ Virtual Mastercard® is completely free of charge.
Do you charge for currency conversion?
The currency of the Net+ Virtual Mastercard® is BRL by default regardless of your NETELLER account’s primary currency and cannot be changed. When a card payment involves currency conversion, we use the NETELLER exchange rate and apply a foreign exchange fee. Transactions in currency other than BRL will first be converted to the card currency as per Mastercard’s rate.
What is IOF and does it apply for payments with the Net+ Virtual Mastercard®?
Card transactions involving foreign currency conversion are subject to IOF (Imposto sobre Operações Financeiras) in Brazil. IOF is payable upon transaction settlement and applies to payments made with Brazilian cards abroad or on foreign websites. IOF is not applicable for payments to Brazilian merchants.
The IOF rate for 2023 is 5.38% and is automatically added to the billing amount. As per Presidential Decree 10.997/2022, the tax rate will gradually decrease by 1% each year until it reaches zero in 2028.
Note: Fees may differ depending on a customer's VIP status. You can see a full list of our charges in the Net+ Card section of the NETELLER website.