Will co-op update cashminder visa debit card

stickman

450875 - Co-operative Bank Visa Debit Card (formerly Visa Electron) BIN this from Visa's own web site. AID 32010. So co-op need to change either or both numbers to get rid of the "electron" stigma. Apparently other banks (who previously had electron) have done this and now their "basic a/c" just shows as visa debit card. I am led to believe that they still require authorization but much more accepted as they have lost the electron tag.
If this assumption is correct then why/ when will co-op follow suit as at he moment it's so frustrating not knowing will retailer's machine accept or decline the co-op card.

jackjones01

I told this to the FOS after getting no where with the co op. The final word on the matter from the FOS was that it was an issue with Visa which was being investigated. But I did get £100.00 compo from the co op ;-) I just dont use the account anymore !

stickman

In phasing out Visa Electron Cards - The problem seems to occur from the Cooperative Bank's poor decision to keep the same card number rage (starting 4508-Visa Electron), and instead reclassifying this range of cards as Visa Debit rather than Visa Electron, by a change to its 'bin number type',( how it is classed to retailers:Electron,Debit,Credit etc.) Without really realising the full consequences for existing card holders. The other option - Issuing new card numbers would have caused problems with Annual automatic payments such as the AA.

The whole thing was poor judgement by Co-op and has caused some companies to still classify the card as Electron and some as Visa Debit. So who is at fault, is it co-op for not changing the BIN when they went from electron to visa debit,or is it the retailers for not updating their databases to recognise 4508-75 as a visa debit and not electron as it once was?

Hobbit56

Hi - Ive spent a few months researching this problem. It seems that about 2 years ago, the Co-op decided to change their Electron card to a Visa Debit card and kept the 4508 number. They then formally advised the banking industry giving all the necessary periods of notice. The REAL problem is that one bank that clears electronic payments for the retailers HASNT changed its records - so M&S, Debenhams, John Lewis, Shell to mention just a few are told by the bank that the card is an Electron when it isnt. The bank in question is Lloyds TSB. I have spoken to Lloyds and to the FSA and no one is at all interested. I have now sent my file to the Information Commissioner who is investigating to see if the Data Protection Act has been breached. I am of the opinion that it has!

JuicyJesus

Hobbit56 wrote: »

I have now sent my file to the Information Commissioner who is investigating to see if the Data Protection Act has been breached. I am of the opinion that it has!

I fail to see how any of that breaks the DPA.

Hobbit56

Because they are processing and holding incorrect information which they are aware of.