visa debit card???

lipidicman

newfoundglory wrote:

As has already been pointed out, this isn't cover under the Consumer Credit Act... but to a degree you are in fact right. Customers of ALL Visa/Delta issuing banks are indeed protected more than Switch/Maestro, as was recently demonstrated when Allders and Courts went into administration. Those who had paid for goods on their Visa debit cards were protected under Visa's own rules; not the Consumer Credit Act. Those who paid with Switch/Maestro were not protected.... and of course all those who paid by credit card were protected under the Consumer Credit Act anyway.

I didnt know that! Useful information there.

We bought a TV (since returned) from Alders in late december and paid by credit card, declining the store card offer as 'Visa protects me in case you go bust like Courts'. I wonder if the manager we were talking to knew that the company were in trouble at the time? He didnt think our comments were funny!

newfoundglory

*searches the web*

Here we go:

http://news.bbc.co.uk/1/hi/programmes/working_lunch/4082599.stm

http://news.bbc.co.uk/1/hi/programmes/working_lunch/3957903.stm

some of the most interesting parts of those articles include:

But any debit card that operates within the VISA scheme also carries cover. Visa says it has strong rules in place to protect cardholders, and you should contact the card issuer.

Visa has strong rules in place to protect cardholders, for example when a retailer fails to deliver something that's already been paid for. The first point of call for cardholders is their card issuer who can explain the details.

Unless it's a debit card run by Maestro, Switch or Solo you should be all right.

However, if Mr Morrisey had used a Mastercard (Maestro/Switch) debit card he would not have been covered for this.

All my cards have always been visa (whether debit or credit). But Switch/Solo/Maestro card holders should clearly take note of this (esp when making large purchases!)

CopperPlate_2

Ah, I knew that I wasn't imagining things...

redseven

I have a VISA debit card on a Nationwide account, it was fraudently used a few months ago (for under £10). Because it was VISA I was able to claim the money back with very little fuss, although this could have been due to the value of the claim.

hornblower

I was on a P&O Ferry a couple of months ago (The Pride of Le Havre) and in the main on-board shop the only form of plastic they accepted were Visa cards and not Switch/Maestro/Amex. Unfortunately, the lady in front of me in the queue had a Switch card and didn't have sufficient cash on her, so she had to call her husband over for some money.

Newway

still confused, since I never had a switch/visa debit before:
are you all saying that the visa debit is actually a "cash card"?
so when I buy sth. , is the money debited right away?

and please forgive me, what does 100 cheque guarrantee mean?

CopperPlate_2

Visa debit and Maestro debit (formerly known as Visa Delta and Switch respectively) are debit cards and without going into the legal and technical workings of them are payment cards that, when you hand them over to pay for goods/services, the money is taken from your bank account within a few days of you signing the till slip in the shop or keying in your ID number to the keypad machine there.

Visa Electron and Solo cards are used in the same way as the above cards except you can only spend what you've got in your account whereas with Visa and Maestro debit cards you can withdraw more money than you have in your account (and go overdrawn incurring various Draconian financial penalties from your bank!).

"Cashcards" are cards that you use at the 'hole in the wall' to withdraw money and, depending on which bank you use, the money you take out will come straight off the balance you have left in your account available to withdraw.

A £100 cheque guarantee card is used when you write cheques. It's basically the banks way of telling retailers that they will guarantee to pay them the value of the cheque, up to the value of £100, if it subsequently turns out that you don't have enough money in your account and the cheque "bounces" and isn't paid and the retailer (for example) doesn't get their money due to them from you. £100 cards are the norm - there are still banks that issue £50 cards which is exactly the same principle but the bank is only guaranteeing that it will pay up to £50 if the cheque isn't honoured. Royal Bank of Scotland is the only bank I know that issues £250 cards but with most people preferring to pay by debit or credit card these days there is very little point in cheque cards I think.

You'll find that most cards today are 'multi-function' in that they act as debit cards, cheque guarantee cards and 'hole in the wall' cards all in one.

Hope that helps.

CP