What are the Net+ Mastercard® fees? (Brazil)
This article specifically applies for the Net+ 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+ 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+ Mastercard® is completely free of charge.
Do you charge for currency conversion?
The currency of the Net+ 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+ 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.
Are there other fees applicable for the physical Net+ Mastercard®?
The following charges apply when using physical card only:
- 1.75% fee for ATM withdrawals
- 10 USD annual card maintenance fee
Your physical card may get suspended upon failure to cover the annual fee. Should this happen, simply ensure you have enough money in your primary account balance. Our system will automatically debit the fee and enable your card within 24 hours.
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.