Payment cards

  • Debit card

    A card issued for the current account, often called "the ATM card". Allows to withdraw cash from an ATM, pay in the shops and points of service, make transactions via the Internet, as well as use cash back service. Making an ATM withdrawal or card payment is instantly booked on the current account. Transactions with the debit card can be made up to the limit of the funds available on the current account. That means the debit card does not allow to make an overdraft - withdraw the amount of money higher than the one available on the current account. 

  • Credit card

    A card that does not use the funds from your current account, but available credit card limit. That means paying by credit card is possible even when there are no funds on the current account. Thanks to a credit card you do not use your own money, which you can allocate for example on savings account or make a deposit. If you pay back the whole sum of the limit used by the date stated on the billing statement (in grace period) the interest on transactions made by credit card is not accrued. 

  • PIN number

    4-digit code, known only by the card owner. It is used for confirming transactions made by payment card. Makes using payment card safe and is essential to withdraw cash from ATM or pay by card in the shop (if the card is a chip-card).

  • Credit card limit

    The amount of money you can spend using the credit card. Limit is given by the bank on the basis of credit analysis.

  • Minimum payment

    The minimum amount that you need to pay into the credit card account by the day set. After paying minimum payment the rest of the credit balance may be paid later.

  • Grace period

    During grace period the interest on non-cash transactions made by credit card is not accrued, if the total sum of debt is paid back in due date. In case of Bank Millennium this period is up to 51 days. In other words, in grace period you use the Bank's money and the Bank charges no interest for this. For example, for all transactions done in April and repaid entirely by the date stated on the billing statement (25th May), no interest is going to be accrued.