Main site > MoneySavingExpert.com Forums > Essential Money > Budgeting & Bank Accounts > Basic Bank Account & Debit Card Update (Page 1)

IMPORTANT! This is MoneySavingExpert's open forum - anyone can post

Please exercise caution & report any spam, illegal, offensive, racist, libellous post to forumteam@moneysavingexpert.com

  • Be nice to all MoneySavers
  • All the best tips go in the MoneySavingExpert weekly email

    Plus all the new guides, deals & loopholes

  • No spam/referral links
or Login with Facebook
Basic Bank Account & Debit Card Update
Closed Thread
Views: 29,013
Thread Tools Search this Thread Display Modes
# 1
sgx.saint
Old 26-08-2006, 4:56 PM
Serious MoneySaving Fan
 
Join Date: Jul 2006
Location: UK
Posts: 1,475
Default Basic Bank Account & Debit Card Update

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
sgx.saint is offline
Report Post
The Following 9 Users Say Thank You to sgx.saint For This Useful Post: Show me >>
# 2
Parky
Old 26-08-2006, 5:04 PM
MoneySaving Convert
 
Join Date: Jun 2005
Location: Yorkshire
Posts: 20
Send a message via MSN to Parky
Default

Thankyou. That is great news, so will check it out. (See my Nationwide post...)

xxx
Parky is offline
Report Post
# 3
sgx.saint
Old 26-08-2006, 5:10 PM
Serious MoneySaving Fan
 
Join Date: Jul 2006
Location: UK
Posts: 1,475
Default

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.
sgx.saint is offline
Report Post
# 4
Turning_into_scrooge
Old 26-08-2006, 6:39 PM
Serious MoneySaving Fan
 
Join Date: Mar 2005
Posts: 1,442
Default

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.
Turning_into_scrooge is offline
Report Post
# 5
M Thomson
Old 27-08-2006, 3:06 PM
Serious MoneySaving Fan
 
Join Date: Jun 2003
Posts: 1,566
Default

Quote:
Originally Posted by sgx.saint
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.

Last edited by M Thomson; 27-08-2006 at 3:09 PM.
M Thomson is offline
Report Post
# 6
sgx.saint
Old 27-08-2006, 3:42 PM
Serious MoneySaving Fan
 
Join Date: Jul 2006
Location: UK
Posts: 1,475
Default

Quote:
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 is offline
Report Post
# 7
sgx.saint
Old 27-08-2006, 3:44 PM
Serious MoneySaving Fan
 
Join Date: Jul 2006
Location: UK
Posts: 1,475
Default

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.
sgx.saint is offline
Report Post
# 8
M Thomson
Old 27-08-2006, 3:49 PM
Serious MoneySaving Fan
 
Join Date: Jun 2003
Posts: 1,566
Default

Quote:
Originally Posted by sgx.saint
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.
M Thomson is offline
Report Post
# 9
sgx.saint
Old 27-08-2006, 3:51 PM
Serious MoneySaving Fan
 
Join Date: Jul 2006
Location: UK
Posts: 1,475
Default

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 is offline
Report Post
# 10
sgx.saint
Old 27-08-2006, 3:53 PM
Serious MoneySaving Fan
 
Join Date: Jul 2006
Location: UK
Posts: 1,475
Default

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.
sgx.saint is offline
Report Post
The Following 2 Users Say Thank You to sgx.saint For This Useful Post: Show me >>
# 11
Kilty
Old 27-08-2006, 5:06 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Feb 2006
Posts: 5,738
Default

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!.
Kilty is offline
Report Post
# 12
sgx.saint
Old 27-08-2006, 5:30 PM
Serious MoneySaving Fan
 
Join Date: Jul 2006
Location: UK
Posts: 1,475
Default

Quote:
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!.
Well said. I always keep an eye on my balance daily so the Maestro Card is a welcome upgrade
sgx.saint is offline
Report Post
The Following User Says Thank You to sgx.saint For This Useful Post: Show me >>
# 13
max2002ad
Old 27-08-2006, 5:46 PM
MoneySaving Stalwart
 
Join Date: Apr 2004
Location: Gloucester
Posts: 285
Default

What do you need to open this basic bank account ?
My Motto in Life:

Make Every Penny Count !!!!
max2002ad is offline
Report Post
# 14
Lucymiss
Old 27-08-2006, 7:04 PM
MoneySaving Convert
 
Join Date: Apr 2006
Location: I am a Northern lass
Posts: 43
Default

I too have the Yorkshire Bank's Readycash account and it's certainly a Maestro card!! Can now use it on the Trainline and have used it on National Express (who don't accept Electron) I've used in in Morrison's Supermarket and it comes up as Switch. What a great idea of YB to issue Maestro cards on their basic accounts, I had problems with the Electron card.

Lucy

A REFORMED Credit Addict*
Lucymiss is offline
Report Post
# 15
Penny-Pincher!!
Old 27-08-2006, 7:05 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Apr 2005
Location: Nuthouse!
Posts: 8,232
Unhappy

We dont have one near us:confused: This would be ideal for my sister and SIL.

PP
xx
To repeat what others have said, requires education, to challenge it,
requires brains!
Penny-Pincher!! is offline
Report Post
# 16
sgx.saint
Old 27-08-2006, 9:48 PM
Serious MoneySaving Fan
 
Join Date: Jul 2006
Location: UK
Posts: 1,475
Default

Quote:
What do you need to open this basic bank account ?
A form of photographic ID, i.e. Passport or Driving Licence and proof of address i.e. Council Tax Bill. A basic credit check is then carried out on yourself just basically to confirm who you are and hey presto the account is opened

Quote:
We dont have one near us This would be ideal for my sister and SIL.
Is their a Clydesdale Bank near you? If so they are a sister bank to YB and they offer the same account (different name) and probably offer therefore the Maestro Card too.
sgx.saint is offline
Report Post
The Following User Says Thank You to sgx.saint For This Useful Post: Show me >>
# 17
Turning_into_scrooge
Old 28-08-2006, 11:15 AM
Serious MoneySaving Fan
 
Join Date: Mar 2005
Posts: 1,442
Default

Quote:
Originally Posted by sgx.saint
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
I didn't actually know Yorkshire Bank did a visa electron card, Do they actually advertise this or is it a new area for them? When i was changing banks recently i chose CO OP because they have a debit card, but not many do. Natwest was out of the question but i do know they have a debit card account for poor credit ratings. I found no advertising for Yorkshire bank and a debit card, obviously looking in the wrong place again:confused: .
Turning_into_scrooge is offline
Report Post
# 18
sgx.saint
Old 28-08-2006, 2:56 PM
Serious MoneySaving Fan
 
Join Date: Jul 2006
Location: UK
Posts: 1,475
Default

Quote:
I didn't actually know Yorkshire Bank did a visa electron card, Do they actually advertise this or is it a new area for them? When i was changing banks recently i chose CO OP because they have a debit card, but not many do. Natwest was out of the question but i do know they have a debit card account for poor credit ratings. I found no advertising for Yorkshire bank and a debit card, obviously looking in the wrong place again .

They dont offer a Visa Electron, they now offer a full blown Maestro (i.e. Switch) Debit Card.

sgx.saint is offline
Report Post
# 19
msaquib
Old 28-08-2006, 6:26 PM
MoneySaving Stalwart
 
Join Date: Sep 2005
Posts: 694
Default

Can you apply for an Readycash account over the phone or by post?

SM
msaquib is offline
Report Post
# 20
sgx.saint
Old 28-08-2006, 6:33 PM
Serious MoneySaving Fan
 
Join Date: Jul 2006
Location: UK
Posts: 1,475
Default

Quote:
Can you apply for an Readycash account over the phone or by post?
As far as I am aware, you can only apply in Branch. But as I said before, if there is no YB near you, try looking for your nearest Clydesdale as they will most likely offer the same card on their version of the account.
sgx.saint is offline
Report Post
Closed Thread

Bookmarks
 
 




Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

 Forum Jump  

Contact Us - MoneySavingExpert.com - Archive - Privacy Statement - Top

Powered by vBulletin® Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.

All times are GMT. The time now is 8:09 PM.

 Forum Jump  

Free MoneySaving Email

Top deals: Week of 17 December 2014

Get all this & more in MoneySavingExpert's weekly email full of guides, vouchers and Deals

GET THIS FREE WEEKLY EMAIL Full of deals, guides & it's spam free

Latest News & Blogs

Martin's Twitter Feed

profile

Cheap Travel Money

Find the best online rate for holiday cash with MSE's TravelMoneyMax.

Find the best online rate for your holiday cash with MoneySavingExpert's TravelMoneyMax.

MSE's Twitter Feed

profile