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visa debit card???
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joolee_2
Posts: 291 Forumite
in Credit cards
hi can anyone tell me what the differnce is between a switch card and a visa debit card please
The quickest way for a parent to get a child's attention is to sit down and look comfortable. :eek:
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Switch is now run by Maestro, whilst Visa debit is run by Visa. In use they are pretty similar0
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There isn't really a difference - well not for the consumer anyway! Maestro debit cards are basically the debit system of MasterCard (its a mastercard brand), and Visa/Delta is the debit system of Visa.
The Switch card and brand was a UK only debit card. Switch used to be a problem, because you couldn't use it to buy things off foreign websites outside the UK (for example USA) since no where other than the UK actually accepted it! Hence, Switch "changed" its name to Maestro (moved to mastercard) in a effort to increse its worldwide acceptance (although arguably even with the name Maestro its still not obvious it should have worldwide acceptance, compared to a debit card with the VISA logo on it!)
I think you will find that Visa debit still has more acceptance around the world simply because its Visa, and although Maestro is accepted worldwide I think Maestro is still more popular in Europe than the rest of the world. Visa debit is accepted everywhere Visa is, and although Mastro should be accepted everywhere Mastercard is i'm not sure in practice it is!
In the UK it really makes no difference what you carry because of the way card payments are processed; but some locations around the world will accept either Visa or Masercard; but not both.0 -
The only point I'd make about Visa (Visa Delta as was) is that they offer protection under the Consumer Credit Act (I think it is) when you buy something on debit card (in a similar way that you are covered when you use a credit card). I think it's the old loss, theft, etc for 30 days. I read it in the Telegraph I think, so it must be true.
CP0 -
Under the consumer credit act you are only protected on credit cards, NOT debit cards:
http://www.oft.gov.uk/NR/rdonlyres/3CF60F0A-48B9-42C9-9EF4-3731220114A3/0/oft360.pdf
http://www.financial-ombudsman.org.uk/publications/ombudsman-news/31/creditcards-31.htm"An eye for an eye leaves the whole world blind" - Mahatma Gandhi0 -
pin wrote:Under the consumer credit act you are only protected on credit cards, NOT debit cards:
http://www.oft.gov.uk/NR/rdonlyres/3CF60F0A-48B9-42C9-9EF4-3731220114A3/0/oft360.pdf
http://www.financial-ombudsman.org.uk/publications/ombudsman-news/31/creditcards-31.htm
Evidently my mistake...
The exception to the above, I would point out, is the Cahoot current account which provides the same cover policy as a credit card.0 -
CopperPlate wrote:Evidently my mistake...
The exception to the above, I would point out, is the Cahoot current account which provides the same cover policy as a credit card.
However that is a contractual agreement between Cahoot and its customers, rather than a statutory provision.
Though, thanks for the info, useful to know."An eye for an eye leaves the whole world blind" - Mahatma Gandhi0 -
CopperPlate wrote:I think it's the old loss, theft, etc for 30 days.
CP
I dont think this is covered under consumer credit law - these were extras on some cards - eg barclaycard (now withdrawn). The CC act covers things like recovering your money from the card company on non-delivery of goods etc.0 -
Yes, point taken. I was wrong. Thank you.0
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As has already been pointed out, this isn't cover under the Consumer Credit Act... but to a degree you are in fact right. Customers of ALL Visa/Delta issuing banks are indeed protected more than Switch/Maestro, as was recently demonstrated when Allders and Courts went into administration. Those who had paid for goods on their Visa debit cards were protected under Visa's own rules; not the Consumer Credit Act. Those who paid with Switch/Maestro were not protected.... and of course all those who paid by credit card were protected under the Consumer Credit Act anyway.CopperPlate wrote:The only point I'd make about Visa (Visa Delta as was) is that they offer protection under the Consumer Credit Act (I think it is) when you buy something on debit card (in a similar way that you are covered when you use a credit card). I think it's the old loss, theft, etc for 30 days. I read it in the Telegraph I think, so it must be true.0 -
Thanks Newfoundglory.
As I said in my original post when I mentioned the CCA I did put in brackets afterwards - "I think, etc." - which was an indication that I wasn't sure and was only making an observation about something I had read somewhere.
Newfoundglory seems to have cleared up where I got that idea from.
Ta
CP0
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