Basic Bank Account & Debit Card Update

sgx.saint
sgx.saint Posts: 1,615 Forumite
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in Budgeting & bank accounts
Hey All.

Just thought I would share this information with you.

I just opened a Yorkshire Bank - ReadyCash Account (Basic Bank Account) and I was told by the lady who opened my account that all new ReadyCash accounts now come supplied with a Dual Function Card, in this case a Switch/Maestro.

Which to me is absolutely fantastic news as there are only a small handful of banks which offer basic banking facilities and supply a debit card. I hope this information helps people who are desperately after a debit card function and are unable to open accounts with other providers for whatever reasons.

Thanks

SGX
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Comments

  • Parky
    Parky Posts: 20 Forumite
    Thankyou. That is great news, so will check it out. (See my Nationwide post...)

    xxx
  • sgx.saint
    sgx.saint Posts: 1,615 Forumite
    First Post First Anniversary Combo Breaker
    No problem :)

    Its nice to see banks are becoming more open and flexible to the needs of all their customers, even those with poor credit ratings.
  • Turning_into_scrooge
    Turning_into_scrooge Posts: 1,492 Forumite
    Combo Breaker First Post
    I got a debit card with the Co Op cash minder account, their cust serv. is quite good as well, well compared to Nationwide it is. I'm moving everything over to CO OP, thing is though I've been without a debit card for so long i keep drawing cash out and forgetting i can use the card. :)
  • M_Thomson
    M_Thomson Posts: 1,596 Forumite
    First Anniversary
    sgx.saint wrote:
    Hey All.

    Just thought I would share this information with you.

    I just opened a Yorkshire Bank - ReadyCash Account (Basic Bank Account) and I was told by the lady who opened my account that all new ReadyCash accounts now come supplied with a Dual Function Card, in this case a Switch/Maestro.

    Which to me is absolutely fantastic news as there are only a small handful of banks which offer basic banking facilities and supply a debit card. I hope this information helps people who are desperately after a debit card function and are unable to open accounts with other providers for whatever reasons.

    Thanks

    SGX

    Are you sure this is not Solo/Maestro? Normal Maestro cards will allow you to go overdrawn.

    Just looked at the Yorkshire bank website,
    The person you spoke to has made a mistake,

    Readycash

    If you do not require overdraft facilities and simply wish to operate your account in credit ask about our basic bank account, Yorkshire Bank Readycash.

    You will receive a Dual Function MiniBank card which will allow you to check your balance, withdraw up to £350† a day from thousands of cash machines or the Post Office and higher amounts from any Yorkshire Bank branch counter.
  • sgx.saint
    sgx.saint Posts: 1,615 Forumite
    First Post First Anniversary Combo Breaker
    Are you sure this is not Solo/Maestro? Normal Maestro cards will allow you to go overdrawn.

    Just looked at the Yorkshire bank website,
    The person you spoke to has made a mistake,

    Readycash

    If you do not require overdraft facilities and simply wish to operate your account in credit ask about our basic bank account, Yorkshire Bank Readycash.

    You will receive a Dual Function MiniBank card which will allow you to check your balance, withdraw up to £350† a day from thousands of cash machines or the Post Office and higher amounts from any Yorkshire Bank branch counter.

    Yes, the dual function card is a Maestro Card, which means it is a debit card and can be accepted anywhere with the Maestro Logo, which I believe used to be called Switch.

    My point was that previously Yorkshire Bank had not offered a "debit card" with their basic account. Now they do offer a debit card in the form of a Maestro Card. Of course this card does not offer cheque guarantee and such like, but that goes without saying.

    There has been no mistake. The card now issued by YB for their ReadyCash account is a Debit Card. Information which I hope helps others who are unable to get a basic account with debit card elsewhere i.e. Nationwide/Co-Op etc.
  • sgx.saint
    sgx.saint Posts: 1,615 Forumite
    First Post First Anniversary Combo Breaker
    Oh, its not the "Maestro Card" that allows you to go overdrawn. Its all electroniclly communicated now-a-days. Its your account which will let you go overdrawn. So if you have an overdraft you can overdrawn using your Maestro, if you do not have an overdraft again the Maestro will not let you go overdrawn.
  • M_Thomson
    M_Thomson Posts: 1,596 Forumite
    First Anniversary
    sgx.saint wrote:
    Oh, its not the "Maestro Card" that allows you to go overdrawn. Its all electroniclly communicated now-a-days. Its your account which will let you go overdrawn. So if you have an overdraft you can overdrawn using your Maestro, if you do not have an overdraft again the Maestro will not let you go overdrawn.

    I think the card you get maybe a Solo Card with Maestro functionality. The maestro functionality bit means you can use it in ATM's worldwide and shops which take Maestro. It is not the same as the full facility Maestro card which will allow you to go overdrawn.
  • sgx.saint
    sgx.saint Posts: 1,615 Forumite
    First Post First Anniversary Combo Breaker
    Hmm. I am not 100% sure.

    I can tell you that the Solo Logo is no where to be seen on the card as I have just received mine :)

    Also, there is no mention of Solo anywhere in the documentation.

    Yes, the Maestro is the method/function which does make the card a debit card. This was my original point, YB now offer a Maestro Debit Card :)
  • sgx.saint
    sgx.saint Posts: 1,615 Forumite
    First Post First Anniversary Combo Breaker
    Just queried this with YB Telephone Banking ( I was on the phone to them whilst posting lol)

    The card is a 100% Maestro, with no link to Solo etc.

    The card is the same as the ones issued to other customers apart from it does not bear the "cheque guarantee" logo.

    The details on overdrafts etc are handled at an electronic level, so as I mentioned previously when you use the card, YB determines if you have an overdraft or not and will allow/or not allow you to go overdrawn.
  • Kilty_2
    Kilty_2 Posts: 5,818 Forumite
    Difference is (or so I am lead to believe) that Maestro can allow you to go overdrawn without an authorised overdraft.

    Maestro/Switch/Visa Debit cards are not always checked by the retailer to see if you have sufficient funds, until transactions reach a certain amount. This means that you can go overdrawn, authorised or not and would mean you'd incur bank charges.

    Solo/Electron cards require authorisation by the issuing bank for ANY transaction and are refused if there is not enough funds in the account.

    Looks like a bad idea for a basic account to me, but its just what Clydesdale/Yorkshire Bank is doing. I've been told my Clydesdale Bank account's card is being changed to Maestro, where I'd have previously been inelegible for one since I'm under 18. (although they still say that their student account does not come with a a dual function card if the applicant is under 18, and they are now making me change my account to a student/current account :confused:)

    Summary of my rant: Maestro is good because of wide acceptance, but always ensure you have enough in your account to cover purchases as there's a chance the money will be taken anyway, leaving you in the red, overdraft facility or not!.
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