Bank Accounts - Debit Cards

With the rapid changes in commerce and people's growing reluctance to use cash, Visa launched the 'Electron' card, and Switch (now Maestro) launched 'Solo'.

Solo - www.solocard.co.uk
VisaElectron - www.visa.com
Switch / Maestro - www.switch.co.uk

Frequently Asked Questions

What's the difference between Solo / Electron and conventional debit cards such as Switch and Visa Delta?

There are 2 main differences:

• When you use a debit or credit card, the retailer's PDQ terminal (credit card machine) obtains authorisation from your bank for the amount of the transaction. Certain retailers that do large volumes have a floor limit (such as petrol stations and supermarkets). Any transaction below the floor limit does not require authorisation, meaning people with Visa Delta and Switch cards are sometimes able to spend money that they don't have, or go overdrawn further than their bank would like them to. You may also notice that Solo and Electron cards do not have raised digits on them, the card number is instead printed on the card - this prevents them from being used in the old manual paper-based machines where a roller runs over the card and imprints the card number on a sales voucher.
• Secondly, Solo and Electron cards are 'customer present' cards only, although this is changing. You will struggle to use an Electron or Solo card to pay for goods on the internet or over the phone.

Why were Electon and Solo launched?

They are aimed at higher risk customers, and for those under the age of 18 that cannot go overdrawn. Banks don't like you withdrawing cash from your account, it's expensive for them to maintain the cash machines. Your bank also earns money every time you use a debit card as the retailers pay a fee every time it's used. ...