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Debit Card Dilemma
CountDrakma
Posts: 63 Forumite
in Credit cards
Hello all.
Just read a magazine article which caused me some concern. I'll quote what's been written:
"She had used a Maestro debit card which is issued by Mastercard and the bank refused a refund as this card did not have the same level of protection as a Visa debit card" And......"wherever possible use a credit or debit card such as Visa Debit that does offer protection when buying online".
No explanation was given as to why Mastercards debit cards have lesser protection. Do they?
Cheers
Count Drakma
Just read a magazine article which caused me some concern. I'll quote what's been written:
"She had used a Maestro debit card which is issued by Mastercard and the bank refused a refund as this card did not have the same level of protection as a Visa debit card" And......"wherever possible use a credit or debit card such as Visa Debit that does offer protection when buying online".
No explanation was given as to why Mastercards debit cards have lesser protection. Do they?
Cheers
Count Drakma
0
Comments
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Yes. It's misleading to say that MasterCard debit cards have less protection than Visa debit cards; they both have as much protection as is required by law. However, Visa debit cards are additionally covered under the Visa Debit Chargeback scheme.0
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Yes. It's misleading to say that MasterCard debit cards have less protection than Visa debit cards; they both have as much protection as is required by law. However, Visa debit cards are additionally covered under the Visa Debit Chargeback scheme.
But it's true, not misleading as Mastercard DEBIT cards offer no protection whatsoever, wheras VISA Debit cards do with the VISA Chargeback Scheme.
Neither have any protection under the law, only CREDIT cards do.0 -
Mastercard Debit, Credit and Prepay have EXACTLY the same level of protections as Visa Debit, Credit, Electron, Prepay, V-Pay, and Visa Interlink (it is the USA's version of Visa Electron)
All in terms of the chargeback, only Maestro is restricted.0 -
Thanks for those replies folks but I'm still confused.
So, is a Maestro Debit card inferior to a Visa Debit card in terms of protection? And what's this Visa Debit Chargeback Scheme about?
For any purchases over 100 quid I always use a Visa credit card but anything under is generally paid for with a Maestro debit card. What are the advantages of a Visa debit card over a Maestro debit card if, say, something goes pear shaped with a retailer or a purchase?
Ta
CountDrakma0 -
Mastercard (Maestro) Debit cards offer no protection. There is no protection scheme attached to them.
VISA Debit cards offer protection under the VISA Chargeback Scheme (VISA's own scheme, not regulated and absolutely nothing to do with Government leglislation/law or the Consumer Credit Act).
How does Chargeback work?
Complain to your bank not more than 120 days after realising there’s a problem, and ask to dispute the transaction. Your bank can then put the procedure in motion to claim the money back from the supplier’s bank.
At this point, the onus is on it to get the money back if a transaction hasn't been adequately completed and you should get a refund. Importantly, as it’s asking for money back from the supplier's bank, not the supplier itself, that means the money should come even if the supplier itself has gone bust.
It's worth noting most bank staff really won't know about this procedure, so you may need to explain it to them.
The advantage is clear when it comes to using VISA.
Mastercard (Maestro) are not popular with banks for debit cards, hence why a number have already dropped them and RBS group is in the process of dropping them in favour of using VISA.0 -
Mastercard, in any form, Debit, Credit, Prepaid offers the same protections as Visa in any form, Debit, Credit, or Prepaid.
Maestro does not, but some people seems to be mixing things up.0 -
Mastercard, in any form, Debit, Credit, Prepaid offers the same protections as Visa in any form, Debit, Credit, or Prepaid.
Maestro does not, but some people seems to be mixing things up.
No it does not, Maestro is a brand name for Mastercard debit cards (you seem to think they are different) and the CCA does not apply, nor does the VISA Chargeback system.
If you think there is protection then please do tell us what exactly it is.0 -
If someone steals money out of your debit (Maestro, EasyCash etc) card then they're taking your money. If they steal money out of your credit card then it's the bank's money.
Doesn't mean you have no hope of getting your money back if you use a debit card but I think I've used mine once in 10 years on the Internet. I just don't do it. I did get a Bank of Scotland EasyCash card which is empty always and I load it when I need it (ie to save CC charges). So, yeah, use it if you have no choice but I'd recommend you keep your main 'current' account much more private.0 -
Thanks very much folks. The fog is clearing now. Visa it is then.
All your helps really appreciated!
Ta
CountDrakma0 -
No it does not, Maestro is a brand name for Mastercard debit cards (you seem to think they are different) and the CCA does not apply, nor does the VISA Chargeback system.
If you think there is protection then please do tell us what exactly it is.
They are very different, if you dont beleive me Google it and if you dont beleive that I will post the procedure all retailers have to accept to take the card.
You are right Mastero is run through the Mastercard system
Mastercard as in Credit cards, debit cards, and prepay cards that do not hold the Maestro card symbol are not Maestro cards of any sort and offer the same protection as all Visa card!.
Would you like me to prove it to you with the 150 odd pages documents of merchant rules.
Maestro and Mastercard are two completely different product, with different rules albeit run by the same company.0
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