Co-op Cashminder and Visa Debit

savagej

Hi

Has anyone else seen their new T&C's valid from 5 December, I got mine in the post yesterday.

The current ones state (if you have a copy or look at the website):

"Terms and Conditions of the Cashminder account and Electron debit card."

The new ones state

"Terms and Conditions of the Cashminder and Debit (Visa or Electron) Card"

"9 Card Issue and pin

9.1 We will issue you with an electron or debit card"


I called up and asked about it, yesterday, and the person I spoke to had not been told about any change. I was asked if it was definitely Cashminder T&C's and it is. Even the old ones in the section inside on card issue make no reference to the card type the only place the electron card is mentioned right on the first page.

Anyone work for the Co-op know about this?

Cheers

James

ShelfStacker_3

Electron is, from what I hear, being phased out and replaced with a Visa Debit with no floor limit (i.e. authorised online for each transaction). The new changes presumably cover them in the eventuality that they change.

Tally-Ho_2

ShelfStacker wrote: »

Electron is, from what I hear, being phased out and replaced with a Visa Debit with no floor limit (i.e. authorised online for each transaction). The new changes presumably cover them in the eventuality that they change.

May I ask how that would then work for 'offline' transactions?.

I am aware you cannot use Electron for offline transactions such as on trains etc, but can use Visa Debit cards.Would there be two classes of Visa Debit card (for online/offline use) and how would a cardholder know which they had?

Also as some banks currently give Electron to under 18's, as it seems to be able to be used 'offline' doesn't that then permit them to go overdrawn?

All very confusing.

Tally

savagej

I spoke to the Co-op today to apply for a regular current account but asked about Visa Debit.

The gentleman I spoke to said they are planning on giving them to customers who have a Cashminder Account but who will get one has not been decided yet. So I assume there will be certain criteria attached to them.

sutton111

thats interesting. its December before the Terms and conditions change.

jsmith9156

I'm very interested to hear this...
If anyone find out what the criteria is then please let us know!

The other James

mattlfc79

I just phoned the Co-op and they are unaware of a Visa Debit being issued on the cashminder account. They say that the Visa Debit is a form of lending and no form of lending is available on the account.

savagej

I have asked a few times and some people seem to know about it and some dont. The change to the T&C's come in to effect on Friday so it will be on or after then before they even have the capability on the computer system to issue them.

zx2011

VISA Europe has a new debit card scheme called V PAY. I wonder if any of the UK banks will be switching to that?

http://www.vpay.com/

jsmith9156

Has anyone Tried the Co-op again since the new T&C's went into force?

The other James

mattlfc79

I phoned them this evening only to be rudely told 'We do not issue Visa Debits on this type of account". A simple sorry no would have done but the bloke was so rude!!