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Moscow Credit Bank
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A Cautionary Tale: Why I Won't Be Inviting Friends to MCB's 'Invite a Friend' Promotion
summarizeEditor's Summary
I'm not one to shy away from trying new things, but my experience with MCB's 'Invite a Friend' promotion was a total disaster. The whole process was a mess, and the fine print was laughable. I was excited about the cashback offer, but it wasn't worth the hassle. I've had my fair share of banking experiences, and this one was definitely a low point. If you're thinking of joining, I'd say think twice - trust me, you don't want to go through what I did.
settingsSpecifications
KararKötü
HizmetKalite2/10
ParaYöntemi4/10
KrediKartıSistemi3/10
MüşteriDostluğu1/10
KrediKartıFiyatları2/10
KrediKartıHizmetleri2/10
ParaYöntemiFiyatları2/10
I still remember the day I stumbled upon MCB, and it wasn't a pleasant experience. The whole process was a bit of a mess.
My friend from back home had sent me a link to order the free Moskarta, and then I had to go to the office, pick up the personalized card, and get the welcome bonus as part of the 'Invite a Friend' promotion.
They promised a decent cashback, even on utility bills, 1% I was told, which sounded pretty good at the time.
I was skeptical, to say the least, since the fine print was a bit of a joke.
I set it up nicely, so it wouldn't obstruct my view, but then I cursed the whole thing.
That was ages ago, spring 2021. It feels like a lifetime ago.
As soon as the lockdown was lifted, I was off to paradise, but I ended up in the corridors of the retrograde MCB. It was like stepping back into the stone age.
This was my first experience with this bank, and let me tell you, it was a doozy.
I've had extensive experience with banks, so I was a bit surprised by the lack of professionalism.
I rarely visit a bank without checking out their credit card or deposit rates, but MCB was a whole different story.
Luckily, my mortgage needs are no longer relevant - the mortgage is long closed, and I've moved on to other financial priorities.
I do have some experience with mortgage repayments, though, and I've got to say, MCB's system was a bit of a headache.
And I've also got a history of insurance payouts, which is a whole other story - will I get my money back or not?
I used to rely on credit cards, and my credit history is spotless, so I was a bit miffed when MCB's system didn't deliver.
I'm always on top of my game, paying off my balance before the interest-free period ends, and I've got a good grasp of bank fees and rates.
But when it comes to cashback credit cards, I'm a bit of a sports enthusiast - I don't really bother with the usual stuff, like clothes and shoes, perfumes and accessories, but bank cards are a different story.
I open new ones all the time, like I'm trying to cure boredom, and then I get lost in the sea of fees and rates.
If I don't find any hidden pitfalls, I start 'promoting' the card to my friends.
So, the whole family ends up being clients of the same banks, and with friends and distant relatives, it's like a never-ending cycle.
I wouldn't recommend it, to be honest.
So, MCB is a pass - we're moving along, not hanging around, and there's nothing to gain.
Ignore it, dear readers - not even the welcome bonus from the 'Invite a Friend' promotion should get you excited about signing up for the product.
And please, God forbid, don't even think about the credit offer from MCB.
Remember my words - I came for the 'Friend Bonus' promotion, but it was a disaster from start to finish.
The bonus was supposed to be paid out after a month, but it never arrived.
I started chatting with customer support, and they told me to wait until June 20th, but it still didn't arrive.
And that's always how it is with MCB - they promise the world, but deliver nothing.
But back then, I was a newbie, didn't know anything about MCB, and was comparing it to similar promotions from other banks - TBank, OzON, Alfa, and more.
TBank and OzON were spot on, but Alfa even showed you a list of your invited friends, tracks the history in real-time, which was a nice touch.
Rayff unfortunately cancelled their 'Invite a Friend' program in 2022, but VTB, SKB-Sinara, UBRiR, and others all had similar promotions.
And since this isn't exactly new, banks have been doing this for ages, so you don't even need to ask for the welcome bonus - it just comes automatically.
I'm a debit client, not a credit one, and I'm constantly stuck in a loop, begging for what's rightfully mine - no charity, donations, or handouts, just what I'm entitled to.
I'm gathering evidence, screenshots, and confirming my knowledge of the promotion rules, tariff, and cashback.
So, to sum it up, the 'Invite a Friend' promotion at MCB was a hit-or-miss affair - some people got their bonuses, but I didn't.
Fast forward, the MCB tariff had become utterly ruined just a few months in, the one that was meant to hook new customers.
Cashback for utilities was quickly scrapped, and the '10% for supermarkets' deal with a maximum payout of 1000r was only available to some - more hassle, emails, back-and-forth, the usual.
Okay, the card was free, so we won't be closing it just yet, especially since MCB invited me to the branch to close my account - that's strange, since other banks were already doing it online back then.
Banks often do this - they ruin a tariff, get a backlash, then start taking it back, giving back perks, adding nice options and features to win back customer activity.
We've been through this with many banks, so I won't point fingers now.
Decided to hold off on parting ways with MCB, let them 'mold' their way back to better times.
Here are the rules for exchanging kashback for cash on the MCB Moscow card: you can collect up to 1500 bonus points, then you can exchange them for rubles, compensating for your purchase.
But not just any purchase - in true MCB style, they've made the rules so complicated that no one understands them, but don't give the customer's money back.
When closing your account, kashback will expire, of course, if you haven't converted it - I want to convert it, but the MCB cabinet has been writing to me for 3 months in a row: 'NO OPERATIONS AVAILABLE FOR CONVERSION'.
And then when you go back... voila, kashback has expired!
It only lives for a year in MCB - you haven't had a chance to exchange it, and now you're in trouble, and I'm left wondering what's the point of it all.
For the sake of fairness, I'll say that by 2025, MCB made some changes to their cashback conversion rules, making it easier to exchange it for rubles, but it doesn't change my verdict on the 💩 and the 'not worth it'.
Need I mention that cashback for utilities hasn't been around for a while?
I want to highlight one unique aspect of MCB's cashback compared to all other banks: the only bank that doesn't pay cashback on checks under 300 rubles - that's them.
MKB is for the wealthy, in general - this is a problem for us, the not-so-well-off, who make a lot of purchases under 300 rubles, from which some banks pay cashback without rounding, even down to the last kopek.
MKB doesn't apply to these.
Cashback categories in MCB change not every month, but every quarter - and if the selection of categories isn't great, you're stuck waiting for three months for the next change.
Also, MCB is all about changing the rules of the tariff/cashback without notice - customers play by the old rules they learned to remember, but in MCB, it's a different story, and their excuse is: all changes are published on our website.
Yeah, I'm a client of 15 banks, and every morning, I check the websites of all 15, just in case they've published any changes - there's nothing else to do.
MKB is not like normal banks - 'Might as well just pass by, friends, no need to bother'.
I could add more minor complaints about MCB, but I'm too lazy - what I did promise in chats is to give them a piece of my mind about their deceptive activities on personal offers - that was the final straw for my royal patience since for MCB, it's become normal to not pay out on personal offers, or even to refuse payment altogether, and their reasoning is just ridiculous.
I've got to admit, I've been burned by MBK's promotions before, and it's not the first time I've fallen for their 'exclusive offers'.
But this time, I decided to take a different approach.
First, I made sure to write about my experience with MBK on a public platform, not just in the closed chat within the app - and guess what? I discovered that it's now possible to cancel your account with MBK remotely!
It's not exactly a straightforward process, but at least you don't have to fly to Moscow to get it done.
Have you noticed that MBK has been gradually shutting down its regional offices and closing down branches for the past three years?
Everything is handled from their main office in Moscow, and they seem to take great pleasure in inviting regional clients to travel to the nearest city where MBK still has a presence.
Anyway, I've attached a step-by-step guide on how to close your accounts and cards with MBK from the comfort of your own home.
So long, MBK. Time to learn some customer respect.
I've got a whole collection of awesome cards in my wallet, so I'm not exactly short on options.
And then when you go back... voila, kashback has expired!
It only lives for a year in MCB.
You haven't had a chance to exchange it, and now you're in trouble, and I'm left wondering what's the point of it all.
For the sake of fairness, I'll say that by 2025, MCB made some changes to their cashback conversion rules, making it easier to exchange it for rubles, but it doesn't change my verdict on the 💩 and the 'not worth it'.
Need I mention that cashback for utilities hasn't been around for a while?
I want to highlight one unique aspect of MCB's cashback compared to all other banks: the only bank that doesn't pay cashback on checks under 300 rubles - that's them.
MKB is for the wealthy, in general - this is a problem for us, the not-so-well-off, who make a lot of purchases under 300 rubles, from which some banks pay cashback without rounding, even down to the last kopek.
MKB doesn't apply to these.
Cashback categories in MCB change not every month, but every quarter - and if the selection of categories isn't great, you're stuck waiting for three months for the next change.
Also, MCB is all about changing the rules of the tariff/cashback without notice - customers play by the old rules they learned to remember, but in MCB, it's a different story, and their excuse is: all changes are published on our website.
Yeah, I'm a client of 15 banks, and every morning, I check the websites of all 15, just in case they've published any changes - there's nothing else to do.
MKB is not like normal banks - 'Might as well just pass by, friends, no need to bother'.
I could add more minor complaints about MCB, but I'm too lazy - what I did promise in chats is to give them a piece of my mind about their deceptive activities on personal offers - that was the final straw for my royal patience since for MCB, it's become normal to not pay out on personal offers, or even to refuse payment altogether, and their reasoning is just ridiculous.
I've got to admit, I've been burned by MBK's promotions before, and it's not the first time I've fallen for their 'exclusive offers'.
But this time, I decided to take a different approach.
First, I made sure to write about my experience with MBK on a public platform, not just in the closed chat within the app - and guess what? I discovered that it's now possible to cancel your account with MBK remotely!
It's not exactly a straightforward process, but at least you don't have to fly to Moscow to get it done.
Have you noticed that MBK has been gradually shutting down its regional offices and closing down branches for the past three years?
Everything is handled from their main office in Moscow, and they seem to take great pleasure in inviting regional clients to travel to the nearest city where MBK still has a presence.
Anyway, I've attached a step-by-step guide on how to close your accounts and cards with MBK from the comfort of your own home.
So long, MBK. Time to learn some customer respect.
I've got a whole collection of awesome cards in my wallet, so I'm not exactly short on options.
live_helpFeatured FAQ
What's the point of the 'Invite a Friend' promotion?
The promotion seems to be designed to get you to invite your friends to join MCB, but the process is so convoluted that it's not worth the trouble.
Is the cashback offer any good?
The cashback offer sounds good on paper, but it's not worth the hassle you'll go through to get it.
What's the deal with the fine print?
The fine print is a real joke, and it's a good idea to read it carefully before signing up.
Is the customer service any good?
The customer service is friendly, but utterly useless. They'll try to help, but they won't be able to fix the problems you're having.
What about the interest rates on their credit cards?
The interest rates on their credit cards are laughable. You'd be better off with a different bank.
What about the deposit rates?
The deposit rates are even worse than the interest rates on their credit cards. Avoid MCB like the plague.
Is the Moskarta any good?
The Moskarta is free, which is nice, but it's not enough to make up for the rest of the experience.
What's the deal with the welcome bonus?
The welcome bonus is a small consolation, but it's better than nothing.
check_circlePros
- •The cashback offer sounded good on paper, but it wasn't worth the trouble I went through to get it.
- •The personalized card was a nice touch, but it wasn't enough to make up for the rest of the experience.
- •I did get a decent welcome bonus, but it was a small consolation.
- •The Moskarta was free, which was a nice surprise.
- •The customer service was friendly, even if they were useless in helping me.
- •The interest rates on their credit cards were laughable, but I guess that's not entirely unexpected from MCB.
cancelCons
- •The whole process was a mess, from start to finish.
- •The customer service was friendly, but utterly useless.
- •The interest rates on their credit cards were laughable.
- •The deposit rates were even worse.
- •The 'Invite a Friend' promotion was a total scam.
- •I felt like I was being taken advantage of from the very beginning.
- •The fine print was a real joke, and it's a good idea to read it carefully before signing up.
- •The welcome bonus was a small consolation, but it wasn't enough to make up for the rest of the experience.
