📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

MSE News: Visa protection bonus for Natwest/RBS debit card holders

Former_MSE_Guy
Former_MSE_Guy Posts: 1,650 Forumite
I've been Money Tipped! Newshound! Chutzpah Haggler
in Budgeting & bank accounts
This is the discussion thread for the following MSE News Story:

"Customers will soon have their Maestro cards replaced by Visa, which may help compensation claims if anything goes wrong ..."
Read the full story:
Visa protection bonus for Natwest/RBS debit card holders

OfficialStamp.gif
This topic was already being discussed before the news story was written. Thanks to Det Dawson for the original post
«1

Comments

  • greyster
    greyster Posts: 2,392 Forumite
    With HSBC also doing a migration to Visa Debit, it means the UK won't be seeing many Maestro cards in the near future.

    The banks are clever to put such as positive spin on such changes but in the background it has probably come down to the fact its cheaper for the card issuer to use Visa. Visa is by far the largest card transaction processor.
  • natweststaffmember
    natweststaffmember Posts: 12,063 Forumite
    "Every Natwest and Royal Bank of Scotland (RBS) debit card holder is set to have their Maestro, Solo or Cirrus plastic replaced by a Visa card over the next few weeks"

    very Natwest and Royal Bank of Scotland (RBS) debit card holder is set to have their Maestro, Solo or Cirrus plastic replaced by a Visa card over the next few weeks"

    Guy, I have emailed earlier this morning, can you confirm that every customer is having their card replaced in the next few weeks rather than when their card comes up for renewal that it will be replaced by VISA. The forums here seemed to indicate that it was not every single card in one go but a phased stage, ie that new accounts will now get VISA, replacement cards(either lost or stolen) would get VISA and renewals would get VISA when their card expired and a new one was sent out.
    I would appreciate a clarification, thanks.
    I have not worked for NatWest Bank since February 2009

    This username is no longer active.
  • natweststaffmember
    natweststaffmember Posts: 12,063 Forumite
    greyster wrote: »
    With HSBC also doing a migration to Visa Debit, it means the UK won't be seeing many Maestro cards in the near future.

    The banks are clever to put such as positive spin on such changes but in the background it has probably come down to the fact its cheaper for the card issuer to use Visa. Visa is by far the largest card transaction processor.
    The reasoning behind it is that VISA offered a better deal than MasterCard that owns Maestro ;)
    I have not worked for NatWest Bank since February 2009

    This username is no longer active.
  • Absinthe_Fairy
    Absinthe_Fairy Posts: 635 Forumite
    Part of the Furniture 500 Posts Photogenic Combo Breaker
    natweststaffmember wrote: »
    "Every Natwest and Royal Bank of Scotland (RBS) debit card holder is set to have their Maestro, Solo or Cirrus plastic replaced by a Visa card over the next few weeks"

    very Natwest and Royal Bank of Scotland (RBS) debit card holder is set to have their Maestro, Solo or Cirrus plastic replaced by a Visa card over the next few weeks"

    Guy, I have emailed earlier this morning, can you confirm that every customer is having their card replaced in the next few weeks rather than when their card comes up for renewal that it will be replaced by VISA. The forums here seemed to indicate that it was not every single card in one go but a phased stage, ie that new accounts will now get VISA, replacement cards(either lost or stolen) would get VISA and renewals would get VISA when their card expired and a new one was sent out.
    I would appreciate a clarification, thanks.


    I'd like to know too, my Maestro card isn't due to expire until August next year, I'm going down to Sheffield in a couple of weeks to go to uni but keeping my parents' address on file with the bank, if I'm getting a new debit card in the next couple of weeks I'll have to ask my parents to keep an eye out for it and send it down for me!
    Sealed Pot Challenge Number 1225
    £365 in £365 Days 2013
    No Buying Toiletries 2013
  • greyster
    greyster Posts: 2,392 Forumite
    natweststaffmember wrote: »
    The reasoning behind it is that VISA offered a better deal than MasterCard that owns Maestro ;)

    Yeah I agree with you.
  • chambta
    chambta Posts: 2,770 Forumite
    Part of the Furniture Combo Breaker
    Absinthe_Fairy wrote: »
    I'd like to know too, my Maestro card isn't due to expire until August next year, I'm going down to Sheffield in a couple of weeks to go to uni but keeping my parents' address on file with the bank, if I'm getting a new debit card in the next couple of weeks I'll have to ask my parents to keep an eye out for it and send it down for me!

    You won't automatically get one any time soon. It would be a logistical impossibility to replace literally millions within a few weeks. However, if you want a Visa debit card ring your local branch and tell them that your card is damaged and your replacement will be one.
  • 456789
    456789 Posts: 2,305 Forumite
    1,000 Posts Combo Breaker
    greyster wrote: »
    With HSBC also doing a migration to Visa Debit, it means the UK won't be seeing many Maestro cards in the near future.
    True however one bank is introducing DebitMastercard :p
  • kavomix
    kavomix Posts: 86 Forumite
    edited 5 September 2009 at 10:23PM
    Im a bit confused by some of this, because taking HSBC, they own around 5% of mastercard, so surely using mastercard products..like maestro, and promoting it would earn them more money as a shareholder. Unless, by some crazy mixed up way mastercard doesn't pay dividends to its numerous bank owners (yeah right lol)

    Also I thought RBS also had a share in mastercard....also what does this mean for the mastercard contactless payplus trials that were running in London and in rbs headquarters? Will they switch to the visa standard?
  • greyster
    greyster Posts: 2,392 Forumite
    kavomix wrote: »
    Im a bit confused by some of this, because taking HSBC, they own around 5% of mastercard, so surely using mastercard products..like maestro, and promoting it would earn them more money as a shareholder. Unless, by some crazy mixed up way mastercard doesn't pay dividends to its numerous bank owners (yeah right lol)

    Also I thought RBS also had a share in mastercard....also what does this mean for the mastercard contactless payplus trials that were running in London and in rbs headquarters? Will they switch to the visa standard?

    Both VISA and Mastercard are owned by a group of banks. You'll find HSBC has a share in both.
  • brewerdave
    brewerdave Posts: 8,754 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    There's absolutely nothing about this on NatWest web site -I've just been reissued with a Maestro card!
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.4K Banking & Borrowing
  • 253.3K Reduce Debt & Boost Income
  • 453.8K Spending & Discounts
  • 244.4K Work, Benefits & Business
  • 599.7K Mortgages, Homes & Bills
  • 177.2K Life & Family
  • 258K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture