Credit Cards

Responding to the needs of your company

Banco Económico provides its Corporate clients with a range of credit cards. These cards not only hold recognised value in any part of the world but also come with exclusive around the clock, year round service helplines with services underpinning their exclusivity ​​.

Signing up and using such credit cards requires prior knowledge on the rules and conditions in effect for each card type.

Here, we tell you, before you contract any card from any financial institution, just what you should do to always remain updated about card usage and to carry out the management of your payments.

 

What is a Credit Card?

A credit card is a means of payment that simultaneously attains various of your objectives providing you with access to a pre-defined line of credit whether to pay for your purchases or to access liquidity. In order to access liquidity, this requires the cash withdrawal of this credit line (cash advance) from any Visa network ATM.
And as security and control are important to any situation, every movement carried out with your credit card gets registered in a card account with a monthly statement sent to you detailing every movement made within the respective period of time.

When opting to use your card, you are drawing on a credit that requires subsequent reimbursement (revolving credit), which is subject to interest whenever not fully reimbursed on the date agreed. Hence, should you associate your card with a partial means of repayment, then you incur interest on the outstanding amount left for later payment.

Every time you reimburse part or all of your credit line, this amount again becomes available to you.

Costs

Holding a Credit Card implies that there is a contract in effect between you and your credit institution. This contract contains details about all of the rules for utilisation and, very importantly, the associated costs.

Annual fees

Holding a Credit Card implies the awareness and the acceptance of certain costs. An annual fee is one such potential cost. This corresponds to an annually charged fee in keeping with that stipulated in the contract and its respective charges, incurred on account of holding a credit card.

Commissions

It is important to know that the commissions charged are only eligible when stipulated in the contract. This may make reference to the price list, which should always be available in an updated form for public access.

Some useful indications:

  • Normally, institutions charge commissions for card usage to make withdrawals on credit, also referred to as cash advances
  • International credit card usage commonly incurs commissions deriving from the transaction and the currency exchange required

Consult the Price List of Commissions and Charges before beginning using your Credit Card. 

Interest

Whenever the total amount of credit used is not reimbursed by the date agreed, i.e., the payment deadline, the client is to pay interest on the amount of non-reimbursed credit.

This interest is calculated in accordance with that stipulated by the contract and taking into consideration the nominal annual rate in effect.

Payment

There are various means you may opt for in order to pay the aforementioned reimbursements to clear your card debt. Normally, you may opt to simply pay off a monthly percentage of up to 100%.



Statement

The extract is a document sent to you regularly (monthly) with a register detailing all of the movements made with your credit card, presenting details of your card-account in terms of the transactions and the respective commissions, the places, dates and payment amounts.​



Boas práticas e segurança

Where can I use my Visa card

You may use your Visa card at millions of commercial establishments and in 1.9 million ATMs located in over 200 countries. Every location accepting Visa Cards is duly identified with the following logo: 

When receiving your card, you should

  • Immediately sign the card in the respective space
  • Memorise the secret code and never write it down
  • Never tell your code to  anybody

How should I protect my card ​

  • Protect your card as if it were cash
  • Never allow your card to leave your possession or your sight
  • Never leave your card in your car glove compartment
  • Never let your card be used by anybody, even by family and friends
  • Always take with you only the card you plan to use and leave the others in a safe place
  • Always keep the receipts for your purchases and withdrawals
  • If you discover any incorrect information on your statement, please get immediately into touch with Banco Económico
  • Keep a list with your card number as well as the contact details necessary in case of loss or theft

When I use my card, what procedures should I adopt to protect it

  • Always check the amount indicated on the terminal before authorising the transaction, whether through signing or using your secret PIN number
  • Ensure the cashier returns your card and you get a receipt
  • Whenever keying in your secret PIN number, cover up this act with your hand and check nobody is looking over your shoulder
  • Never give out personal information other than displaying an identification document when requested by the retailer
  • Whenever making a payment, you should never let your card out of sight and check that the card is only passed through a single terminal. On paying, after confirming the amount and carefully keying in your PIN number, do not repeat this operation without the terminal displaying a message that the first attempt was cancelled or unsuccessful. Always demand proof of payment
  • Be prudent when paying over the Internet. Despite not being an absolute guarantee, check that the page contains the contact details for the webmaster or the headquarters. As a general rule, these features mean the page corresponds to an official company website. Only use your card on commercially reputable websites or when the page holds some form of certification and deploys an appropriate security system (for example, a padlock icon in the lower right hand of the screen)

 

When making withdrawals, should you notice the ATM has anything unusual about it or has been vandalised, find another machine.

In case of loss or theft of your card, you should immediately contact: 

Banco Económico: 

In Angola –  (+244) 222 693 610 ou  (+244) 923 166 266*

When abroad – (+244) 222 693 610*

 

Please identify yourself to the operator and provide the following details to cancel your card:

  • Name
  • Card number
  • Location of loss or theft

Your contacts for future requirements.

* Service available around the clock.

 

Or alternatively:

Visa International: 

 00 1 303 967 1090*

 

Please identify yourself to the operator and provide the following details to cancel your card:

  • Place of occurrence
  • Name on Credit Card
  • Card Issuing Entity (Banco Económico)

 

Corporate Gold  

CORPORATE GOLD is a credit card designed to meet the financial needs of your company, with a particular vocation for the senior ranks of your organisation, especially directors and general directors. 

More than just a card, this is a business partnership providing ease of usage and exclusivity to your company’s executives.

 

Card operations

Taking into account how your CORPORATE GOLD card is a credit card, the transactions made are debited from the respective credit account. Thus, your card enables the following transactions on credit, whether in Angola or internationally:

  • Payment for products and services in commercial establishments that are members of the VISA network
  • Cash withdrawals (cash advances) in VISA network ATMs and bank branches (in the respective national currency)


 

Benefits

Accepted worldwide
  • Purchases in the millions of commercial establishments belonging to the VISA network
  • Withdrawals from 1.9 million ATMs in over 200 countries
  • ​Consult your Card Balance (in countries with this function available)

 

Credit limit per card

Definition of individual credit limits for each card

Free credit

Free credit for up to 50 days. A “Revolving” Line of Credit that gets re-established following each respective payment

Security

Security
  • Pay in safety – your card has a VISA chip with wide reaching security and protection built in to ensure your convenience when making transactions with the card
Consult and check your movements

Sending of a monthly credit card statement detailing every operation carried out by that card over the respective month. After verification by the cardholder, the statement should be sent to the respective company department responsible in conjunction with the receipts corresponding to the respective expenditure.

Statement and card payments

You receive a monthly statement of your card account that includes all of the movements made by the cards associated with that account for the respective period covered by the statement, the total outstanding balance owed and the deadline for payment. Each statement also includes the following, among other information:

  • Total of expenditure made by each card and registered by Banco Económico in the period covered by the extract
  • Amount, date and commercial establishment of each respective operation (with indication of the currency and the original cost of the transactions)
  • Interest and any other costs
Card services

The CORPORATE GOLD Card service is available 24 hours per day/365 days per year.

CORPORATE GOLD cardholders have available a vast world of services and privileged opportunities that they may benefit from with every ease:

  • VISA Call Center Service
  • Card Information Service
  • Emergency Card Replacement
  • Emergency Cash Advances

Corporate Silver

The CORPORATE SILVER Card is designed for companies that wish to find a convenient and safe response to their financial needs. The CORPORATE SILVER Card makes the life of your company easier, safer and simpler. 

 

Card operations

Taking into account that the CORPORATE SILVER Card is a credit card, the transactions made are debited against the respective credit account. Thus the card enables the following credit transactions whether in Angola or internationally: 

​​​• Payments for products and services from commercial establishments belonging to the VISA network

​​• Cash withdrawals on credit (cash advances) from ATMs and bank branches belonging to the VISA network (in the respective national currency) 

 

Benefits

Accepted worldwide
  • Purchases from the millions of commercial establishments belonging to the VISA network
  • Withdrawals from 1.9 million ATMs in over 200 countries
  • Consult your card balance (in countries with this function available)
Credit limits per card

Definition of individual credit limits for each card.

Free credit

Free credit of up to 50 days. A “Revolving” Line de Credit that gets restored in keeping with the payments made in the meanwhile.

Security

Pay in safety – your card contains a VISA chip that provides wide reaching security and protection ensuring your every convenience when making transactions with your card

Consult and check your movements

Sending of a monthly credit card statement detailing all of the operations made with the card during that month. After due verification, the extract should be handed in to the respective company department responsible in conjunction with the receipts for the respective expenditure.

Statement and card payment

Monthly, on the date of the card statement, you receive access to the card account statement detailing all of the movements made by the cards associated with the account, covering the respective statement period and detailing the total outstanding debt and the deadline for payment. 

Each statement details, among other information: 

  • ​​​The total of expenditure made with the card and registered by Banco Económico in the period covered by the statement
  • Amount, date and location of each operation (also indicating the currency and the original amount of the transactions)
  • Interest and other expenditure
Card services
  • Payment in commercial establishments belonging to the VISA network in Angola and internationally
  • Cash withdrawals on credit (cash advances) from ATMs and bank branches belonging to the VISA network (in the respective national currency) in Angola and internationally
  • Statements to monitor the balance and card payments
  • VISA Call Center Service 24h per day
  • Card Information Service
  • Emergency Card Replacement
  • Emergency Cash Advances

Given the current economic situation, which generates a situation of scarcity of foreign currency in Angola, the issuance of new credit cards is currently carried out restrictively.

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Contacts

Rua 1º Congresso do MPLA nº 8,

Ingombota - Luanda

Attendancee: Monday to Friday from 08:00 to 18:00

directo@bancoeconomico.ao

(+244) 222 693 600

(+244) 222 693 610 

(+244) 923 166 266 

 

Price List
Useful Information
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