Co-op Cashminder debit card changes to VISA Debit from June

book12 · 5 May 2009 at 12:11PM

Not sure how often you guys read the 'basic bank account' thread.

Anyway, according to this poster, he/she claims that the CA on the phone told her that Co-op will stop offering VISA Electron cards from June, and replace them with VISA debit like Barclays Cash Card Account and LTSB Cash Account. http://forums.moneysavingexpert.com/showpost.html?p=21271879&postcount=842

In addition to this, other banks are doing the same in a few months time,notably Natwest/RBS. They are switiching from Solo/Maestro to VISA debit.

This is good news! Banks are waking up on how Electron is not as good as other debit systems. Hopefully, other countries whoever have Electron cards will abolish them one day, and replace them with VISA or other popular debit systems.

the_annoyed_customer · 5 May 2009 at 12:14PM

Hopefully someone will get rid of Irish maestro, its a load of !!!! when ever someone with that card wants to use it over here it never works

7sefton · 5 May 2009 at 12:44PM

I imagine this isn't great news for some - lots of people on here have opened a Co-op cashminder specifically to get an Electron card to pay for flights cheaply etc. Having a Visa Debit will mean they will now have to pay Ryanair's terribly high debit card fees.

book12 · 5 May 2009 at 1:07PM

7sefton wrote: »

I imagine this isn't great news for some - lots of people on here have opened a Co-op cashminder specifically to get an Electron card to pay for flights cheaply etc. Having a Visa Debit will mean they will now have to pay Ryanair's terribly high debit card fees.

Halifax Easycash will be another alternative, as it offers an Electron card. It is the only bank left to offer this type of card. I think they will change to VISA debit in the future just like the others, but not now obviously.

I wonder who prompted the decision to abolish Electron cards for the Cashminder account. The bank or customer feedback?...

There are other cheap flights besides Ryanair anyway, who will not have extra when using other types of debit systems. A transaction fee without using Electron on Ryanair is not much anyway.

savagej · 5 May 2009 at 2:04PM

Over time though the LTSB in Scotland is going to change its name to Bank of Scotland probably at the same time dropping Visa Electron in favour of its "superior" Visa Deibt card.

Tally-Ho_2 · 5 May 2009 at 2:53PM

So, if as and when the Cashminder changes to Visa debit, does that mean we will be able to use the card like other visa debit card holders at such as Railway Stations and on trains/flights etc?

Just I thought the idea of Electron was it always checks to see if there is money in the account before authorising the sale, hence one could not easily overdraw.

Thanks

Tally

MickW_3 · 5 May 2009 at 3:41PM

Tally-Ho wrote: »

So, if as and when the Cashminder changes to Visa debit, does that mean we will be able to use the card like other visa debit card holders at such as Railway Stations and on trains/flights etc?

Just I thought the idea of Electron was it always checks to see if there is money in the account before authorising the sale, hence one could not easily overdraw.

Thanks

Tally

This is the $64,000 dollar question, at present there's no mention of this on the Co-op's website, they still list the Electron card as standard. However the CA I spoke with while I was applying for the account told me otherwise and confirmed it with some of his colleagues. Which is why I thought I'd better mention it on the forums.

Personally, I can't afford to book a filght with Ryanair so this shouldn't affect me much, but it does beg the question about how and where you can use your Co-op debit card. Hopefully someone will be able to clarify this and post their findings here on MSE.

Cheers,

MickW

Nine_Bob_Note · 5 May 2009 at 6:48PM

If co-op do offer visa debit insted of electron then it will still be the same card and work in the same way but will just say visa debit on it insted
I doubt co-op will give full auth debit cards as standard, i would imagine they would be the same as a&l and lloyds visa debit cards, some are full auth and the others will work the same way as electron.
personally i wish rbs/natwest wouldnt change to visa as i think its handy to have a few types of cards. i like my maestro!

Bosie · 5 May 2009 at 10:25PM

I know the Post Office do a travel card with electron and I'm sure Travelex do an Electron card. Even with fees to these cards probably still cheaper than Ryanair's £5 each way on a debit/credit card.

kev1980_2 · 5 May 2009 at 11:00PM

Hi folks,

Have just updated the basic bank account thread then noticed this one.

I confirmed with the Cooperative Bank tonight that there definately going to start issuing Visa Debit Cards to Cashminder account customers from June 2009.

Nice One!!!

Tally-Ho_2 · 6 May 2009 at 3:00PM

Nine_Bob_Note wrote: »

If co-op do offer visa debit insted of electron then it will still be the same card and work in the same way but will just say visa debit on it insted
I doubt co-op will give full auth debit cards as standard, i would imagine they would be the same as a&l and lloyds visa debit cards, some are full auth and the others will work the same way as electron.
personally i wish rbs/natwest wouldnt change to visa as i think its handy to have a few types of cards. i like my maestro!

Hi,

But surely a Visa Debit Card is a Visa Debit card and can be used at all outlets (including Railway Stations, machines etc) that display the visa debit sign?

How is one to know whether they have a 'ful authority' one or not?.

Thanks

Tally

Co-op Cashminder debit card changes to VISA Debit from June

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