Visa

tru

Just a quickie. Does a visa debit card have the same protection as a visa credit card?

desiman

No, a debit card is just like giving cash away, no protection whatsoever

Rafter

No, although some do offer the same protection as a different benefit.

There is also a 'grey' area if you use your debit card but it takes you into overdraft. Because effectively a 'credit agreement' is then created then the consumer credit act might apply.

There is a reason why travel agents and certain retailers charge for use of credit cards and it is the protection, the cost of which is passed onto them by the banks.

If you are already buying something that is insured already (through your travel insurance or house insurance) then no point in paying twice.

R.

tru

Great, thanks both :T

pin

Rafter wrote:

No, although some do offer the same protection as a different benefit.

There is also a 'grey' area if you use your debit card but it takes you into overdraft. Because effectively a 'credit agreement' is then created then the consumer credit act might apply.

There is a reason why travel agents and certain retailers charge for use of credit cards and it is the protection, the cost of which is passed onto them by the banks.

If you are already buying something that is insured already (through your travel insurance or house insurance) then no point in paying twice.

R.

Are you sure about the overdraft bit? An overdraft is an "on demand" debt. While I understand a credit card debt is a regulated debt (protected by the CCA).

Also goverment guidance says that debit cards are excluded from the Consumer Credit Act.

However, apparantly, Visa do match their credit card protections onto their debit cards. I've not seen anything in writing about this though.

tru

pin wrote:

However, apparantly, Visa do match their credit card protections onto their debit cards. I've not seen anything in writing about this though.

I thought I'd heard that too, though I was starting to think I'd imagined it LOL.

King_Of_Fools

pin wrote:

However, apparantly, Visa do match their credit card protections onto their debit cards. I've not seen anything in writing about this though.

I think this is Visa offering the benefit for good-will and its not set by law as for a credit card so I would not rely on it being honoured.

pin

King_Of_Fools wrote:

I think this is Visa offering the benefit for good-will and its not set by law as for a credit card so I would not rely on it being honoured.

Thing is, i have never seen it mentioned in any visa debit card terms and conditions.

grumbler

A couple of threads with further links inside:

Good ol' US of A
Visa Debit Card Claim

Visa debit card has some protection indeed.