View Full Version : SOLO v Electron
I have just had my Halifax SOLO card replaced with a new VISA Electron card.
I am a bit perplexed about this as I have a feeling that compared to SOLO, there are far less places that you can use Electron.
I asked the Halifax why they are changing and was told 'It's because of chip and pin, and SOLO doesnt do Chip and pin' funny how Nat West have got chip and pin SOLO cards then???
What are your experiences, should I be concerned?
Both of my bank cards are VISA Electron and I don't have much of a problem. While I do agree that it's not as widely accepted as Switch (or whatever it's called now), it's been quite a while since I've tried to use it anywhere and been told they don't take it.
I also think that Electron's becoming more common as a card anyway - it's used by The Co-op, Abbey and now Halifax so you would assume that they will be pushing for it to be accepted in more places now anyway.
I'm not sure that it is very well accepted on line, something to do with security or payment guarantees i think.
I just find it hard to trust a debit card with no raised numbers on it! :)
i was gonna move to VISA cos my solo doesnt work on amazon? do you have to be 18 before it works or something?
I have just had my Halifax SOLO card replaced with a new VISA Electron card.
I am a bit perplexed about this as I have a feeling that compared to SOLO, there are far less places that you can use Electron.
I asked the Halifax why they are changing and was told 'It's because of chip and pin, and SOLO doesnt do Chip and pin' funny how Nat West have got chip and pin SOLO cards then???
What are your experiences, should I be concerned?
I'm sure I heard that Halifax are changing from switch/solo to visa debit/electron.... that would be why they changed yours I guess.
i was gonna move to VISA cos my solo doesnt work on amazon? do you have to be 18 before it works or something?
You do not need to be 18 to have visa electron as it is specifically aimed at people who either don't want or can't get credit.
Visa Debit requires you to be 18 and is issued subject to status. :)
You cant use a VISA electron on-line, you have to be present for the transaction. SOLO you can use online, but in limited places.
To be fir they a re both cut down versions of their sister cards VISA DELTA and SWITCH, neither can be used to guarantee cheques or pay for things at a non-online till (i.e. the old carbon paper machines)
I detest both sorts and I honestly cant understand why they use such crappy cards, why cant they just remove the cheque guarantee part of the main cards and issue them instead?
As for issue under 18, both electron and solo are available, switch is also available under 18 at the banks discretion but delta isn't.
HTH
:)
my mum uses visa election online at amazon? just works as a visa
my mum uses visa election online at amazon? just works as a visa
Yep, I have as well - it's the same as using it in store. I've used it on Amazon, but I couldn't use it for paying my catalogu bill. At present, some places take it but others don't - as I said earlier, the ability to use Electron is becoming more widespread, but it's still not as popular as Switch.
why the hell doesnt my solo card work then? somethings awry here
squiggs1982
19-08-2004, 14:58
Can't (or rather won't!) say who, but I am very well acquainted with people who work for a large financial services organisation and it is fair to say that either of these cards are treated with contempt. Very low transaction limit set on them and they are the source of around 80% of all frudulent card transactions. Usually used by people with dubious citizenship or crappy credit rating. No offence intended, my brother has a solo and he's a 28 year old lawyer! :D Can't get a switch cause he was a little careless with cedit facilities when at uni! My point being, demand a decent card or go to a bank who will supply you with one! (sorry, I know it's never as black and white as that!)
Can't get a switch cause he was a little careless with cedit facilities when at uni! My point being, demand a decent card or go to a bank who will supply you with one! (sorry, I know it's never as black and white as that!)
How come? Sorry If I'm being thick, but a switch card is a debit card, so the money has to be in your accound for you to use it does it not? So credit rating shouldn't matter? Or am I talking out of my arse and not have a clue how a switch card works.
squiggs1982
19-08-2004, 15:06
How come? Sorry If I'm being thick, but a switch card is a debit card, so the money has to be in your accound for you to use it does it not? So credit rating shouldn't matter? Or am I talking out of my arse and not have a clue how a switch card works.
No, you're quite right. But to open a current account (which usually has some sort of agreed overdraft) you are credit checked and he fails. Also, switch transactions also rarely go through proper authorisation at a PDQ machine if the transaction is under a tenner or 15 quid. Thats one of the ways he managed to get into such a mess in the first place (nip down the off licence, buy a six pack and £10 cash back with no money in his account! :p: )
bob_builder
19-08-2004, 15:09
You cant use a VISA electron on-line, you have to be present for the transaction. SOLO you can use online, but in limited places.
To be fir they a re both cut down versions of their sister cards VISA DELTA and SWITCH, neither can be used to guarantee cheques or pay for things at a non-online till (i.e. the old carbon paper machines)
I detest both sorts and I honestly cant understand why they use such crappy cards, why cant they just remove the cheque guarantee part of the main cards and issue them instead?
As for issue under 18, both electron and solo are available, switch is also available under 18 at the banks discretion but delta isn't.
The main difference between the cards is the way payments are cleared.
Visa Electron and Solo cards clear every payment straight from your bank account and do not allow you to go overdrawn - that is why they are offered to under 18s and only work using electronic tills with a direct connection to the banks. If you have £200 in your account they will let you spend up to £200 wherever the card is accepted but not a penny more.
Visa Delta and Maestro (was Switch) cards only clear large payments (over £250?) straight from your bank account and, hence, could allow you to go overdrawn. Smaller payments are cached by the retailer and processed at the end of the day. So if you have £200 in your account you could spend £100 at Retailer1 and £150 at Retailer2 on the same day, thus going £50 overdrawn.
This is why Maestro and Delta are accepted virtually anywhere but Solo and Electron are not.
How come? Sorry If I'm being thick, but a switch card is a debit card, so the money has to be in your accound for you to use it does it not? So credit rating shouldn't matter? Or am I talking out of my arse and not have a clue how a switch card works.
The point of it is, .... edit ... put far more succinctly by Bob!
bob_builder
19-08-2004, 15:18
I'm sure I heard that Halifax are changing from switch/solo to visa debit/electron.... that would be why they changed yours I guess.
Yes, Halifax announced it was moving from the UK only Switch/Solo cards to the worldwide Visa Delta/Electron cards at the same time Switch announced it was moving over to the wolrdwide Mastercard Maestro cards!
Ah right, I get you now. Thanks
Very low transaction limit set on them
don't think thats quite true, I paid £19,000 for my car using my SOLO card.
orangebird
19-08-2004, 15:44
don't think thats quite true, I paid £19,000 for my car using my SOLO card.
That's right, there's no limit. The difference is, as stated previously, every Solo transaction amount is authorised there and then, as opposed to a Switch card transaction which basically just authorises the card there and then, and the amount later....
More info on Solo (including retailers who accept it) here (http://www.solocard.co.uk/about.asp) :)
More info on Solo (including retailers who accept it) here (http://www.solocard.co.uk/about.asp) :)
Just out of curiosity OB, is there anything like that that shows everywhere that accepts Electron (I've had a quick shufty, but I can't find anything).
Ta
orangebird
19-08-2004, 15:57
Just out of curiosity OB, is there anything like that that shows everywhere that accepts Electron (I've had a quick shufty, but I can't find anything).
Ta
Nothing much really - this (http://www.international.visa.com/ps/products/electron/) is the best I could find. Not half as good as the Solo site...
How come? Sorry If I'm being thick, but a switch card is a debit card, so the money has to be in your accound for you to use it does it not? So credit rating shouldn't matter? Or am I talking out of my arse and not have a clue how a switch card works.
Yes you are switch and visa card holders can usually have a cheque guarantee up to £500 and have a overdraft agreed by the bank.
Making it possible to use the card when you have no money in your account up to the agreed monthly limit mine is 1k p/m as the bank is lending you money short term you have to have a good credit rating. The higher your score the higher you overdraft.
I prefer my visa because the amount spent is moved from your avaialble account balance straight away, unlike with switch/solo which takes 3 days for the amount to be taken from your available balance
SMHarman
19-08-2004, 16:42
No, you're quite right. But to open a current account (which usually has some sort of agreed overdraft) you are credit checked and he fails. Also, switch transactions also rarely go through proper authorisation at a PDQ machine if the transaction is under a tenner or 15 quid. Thats one of the ways he managed to get into such a mess in the first place (nip down the off licence, buy a six pack and £10 cash back with no money in his account! :p: )
28-6=22 normally your credit file holds only 6 years of data, as a lawyer he may have graduated later, but he should be able to clear this mess up now.
Contact Experian and Equifax to find out what is still holding him back (unless he still has a pile of debt to settle).
Yep, I have as well - it's the same as using it in store. I've used it on Amazon, but I couldn't use it for paying my catalogu bill. At present, some places take it but others don't - as I said earlier, the ability to use Electron is becoming more widespread, but it's still not as popular as Switch.
Well you shouldn't , or so the terms and conditions that the banks have with VISA, the problem is because of the status of the cards they should only be sued when the customer is present.
A pointer in this direction is the lack of a security code on the back of the card needed for most Internet transactions.
As squiggs said they are intended for people with poor credit history, I have one. I'm hoping my bank will upgrade mine soon so that I can eventually get around to buying my own train tickets and stuff on line. The reason I have one is because I was working and became ill, was unable to make regular payments on my credit card and stuff and is messed up my credit history.
Now I'm a good customer again and I'm hoping my bank will sort me out, they did say that if I kept my new account right then they would upgrade me again.
The main difference between the cards is the way payments are cleared.
Visa Electron and Solo cards clear every payment straight from your bank account and do not allow you to go overdrawn - that is why they are offered to under 18s and only work using electronic tills with a direct connection to the banks. If you have £200 in your account they will let you spend up to £200 wherever the card is accepted but not a penny more.
The reason i said that they could remove the cheque guarantee part of switch and the offer instead of the crippled cards they offer (especially electron) is because most places you use your cards now don't actually have a floor limit anymore. Nearly everywhere you'd use your card now has machines that check the limit as the transaction occurs, this way they can decline more requests for money that isn't there.
It used to be the case that some shops had floor limits of up to £50 but this has almost been phased out now. :)
I used to work for Natwest and for Abbey and at both places it was a regular occurrence to speak with customers that used to take money out at their local shop the day before they got paid and then all of a sudden they wouldn't let them, this is because they are phasing out floor limits at most places.
Spot on dell, also the card companies can identify unusual spending patterns ( which are a classic sign of fraud ).
I have been phoned on more than one occasion to check that it is me making transactions if I happen to be away from home, or if I make a series of expensive purchases. It can seem like a pain but if it might stop someone using one of my cards fraudulently then :tu: :)
SMHarman
19-08-2004, 17:29
Spot on dell, also the card companies can identify unusual spending patterns ( which are a classic sign of fraud ).
I have been phoned on more than one occasion to check that it is me making transactions if I happen to be away from home, or if I make a series of expensive purchases. It can seem like a pain but if it might stop someone using one of my cards fraudulently then :tu: :)
It's a massive pain when the RBS Card Centre cards (a big chunk of UK card processing) automatically declines transactions they percieve as risky and all the buyer gets is declined and first response you get is well there is sufficient credit :mad:
Happens a lot on transactions of over £500 these days, used to think it was embarassing, just realise now it is a more common fraud prevention approach.
Sorry to multiple post guys.
The higher your score the higher you overdraft
This is a common misconception, you don't have an overall credit score. The banks go on your past spending/repayment history and your salary, as well as payment history obtained from your credit file held at Experian or Equifax. There is NO score, the banks computer has an algorithm that judges this information and gives a yes no answer, not a figure.
Some banks set the levels of miss-payment/bad spending lower than others, generally if a company is adverting on telly a lot then they have a reduced requirement.
When I was at work there were several cases where people with LOTS of money in their account and good repayment history on their credit file were declined credit cards with the bank. This was down to the fact that they had always repaid their other cards each month avoiding paying interest to the banks. The computer that "scored" (if you prefer that phrase) the application saw this and declined the account as it knew the bank wouldn't make any money on the account - in this case the bank overrode the decision when the customer threatened to take his large wad of cash else where!
As for limits on solo and electron, there shouldn't be a spending limit (like any other debit card) apart from the limit of available funds in your account (taking into account any authorised overdraft). Saying that payments for large (or even small sometimes) payments are refereed or declined on the basis that they are not your normal payment pattern to prevent fraud.
A good article is here:
http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1045407603,23112,
You've probably guessed I hate these retarded cards as I find them a despicable way of preventing those with no or poor credit history spending what money they have.
I also hate the way that you need credit to get credit, this chicken and egg scenario has never been solved but prevents good honest people getting credit.
Another thing I hate about the way the system is arranged is that if you manage to get credit and screw it up (perhaps through no fault of your own, like me) you just cant rebuild your credit as there are currently no products on the market to help you do this.
However for those of you who have no credit history or poor credit history there is going to be a new product from Capitol One (boo hiss, I know :rolleyes: ) that will allow even those with a very poor credit history to get a credit card and build their history again. It's not available until Oct/Nov time and you will need to pay a deposit on it, but it will allow people to get a foot on the ladder either for the first time or again. Its called the guaranteed credit card and the limit is apparently gong to be £200, not a large limit by any means but will allow people to do their shopping each month on it and then pay it off. After 7 months they will be able to look at the limit again. The deposits depend on your credit history, but they are either £49.99, £99.99 or £199.99 .
Its currently being tested by invitation only but the number to call when it is available, or to check its availability is 08009525252
Hope this helps some one
:)
It's a massive pain when the RBS Card Centre cards (a big chunk of UK card processing) automatically declines transactions they percieve as risky and all the buyer gets is declined and first response you get is well there is sufficient credit :mad:
Normally unless your bank has put a block on your card (Co-op did this to me once because they thought the card was being used by someone else) the transaction shouldn't be declined, it should be referred.
If the shop/company get this message they should (but many don't bother) ring their machine operators number (either streamline(is that part of RBS cards now??), PDQ, RBS card centre, HSBC card centre) and ask for a referral, and normally the bank will ask to speak with the customer to confirm some security details and pass the transaction.
I think many shops and company's don't bother because the staff don't know what to do, they're just ignorant of the process they should go through. This was a big thing at the bank too, people thinking we were declining their transaction when the merchant services were just asking for confirmation.
Dell did this to me when I tried to order my last computer, even after a three way call to our credit card company they wouldn't believe that they needed to refer it. I sent a cheque in the end!
squiggs1982
19-08-2004, 18:42
don't think thats quite true, I paid £19,000 for my car using my SOLO card.
Sorry, I meant an internal work policy not to accept transactions over £350. As far as I know, you can take as much as you have in the bank, we just won't due to the risk of chargebacks.
@SMHarman: Yeah, I think he's lookin into it. Think it's just the bank being awkward. I told him to move bank!
My Solo card was issued to me before switch switched to maestro and it has the maestro logo on the back so does this mean that I can use my solo card as a switch/maestro?
My Solo card was issued to me before switch switched to maestro and it has the maestro logo on the back so does this mean that I can use my solo card as a switch/maestro?
AFAIK the switch over to maestro will not affect the way customers use their cards here in the UK, so the short answer is no. It'll still act as a solo card
HTH
Can someone tell me why there is a 4/5 day gap between making a payment, (which leaves your account straight away) to reach it's destination ?
Lets assume this is made with a solo card so as not to be off topic.
Can someone tell me why there is a 4/5 day gap between making a payment, (which leaves your account straight away) to reach it's destination ?
Lets assume this is made with a solo card so as not to be off topic.
For the same reason it takes 3/4 days for a cheque to clear, so the bank can make money out of you. :)
Thanks Dell, you confirmed my suspicions !!!!
greencreeper
20-08-2004, 05:13
Electron cards :disturbd: They're the doley's card, designed for those with no money or no (good) credit history. Quite a few websites claim that to use Electron the person has to be present. I had an Electron card years ago and had untold problems in shops: waiting, after my card was swiped, whilst the shop assistant got the manager or some other assistant. Apparantly some sort of authorisation code was needed. Totally embarrassing - I felt like a fraudster. A few places, including M&S, that supposedly accepted the card, rejected the card, forcing me to leave my purchases whilst I found a cash machine. Exceptionally embarrassing. I have a Visa Delta card now - much more reliable. Things might have changed but I wouldn't risk an Electron card these days :no: There is one snag with Visa though - about 24 hrs before the money is due to be removed from my account, it will be deducted but not appear on my online bank statement (the available balance goes down, that's all). Then the money will be refunded, maybe for a day, then it will be deducted and show on my bank statement. :spin:
SMHarman
20-08-2004, 09:19
Electron can be used like any other card, except it requires authorisation for all transactions (no floor limit - as mentioned earlier) and no manual (ironed) transactions, if you cannot swipe the card, you cannot take money from it (in a shop), obviously it can be used on line as you don't swipe and authorisation exists.
[QUOTE=dellwear]Sorry to multiple post guys.
This is a common misconception, you don't have an overall credit score.
You do i work for a loan & mortgage company that use equifax explorer www.loan.co.uk at work and it generates a overall credit score our company also use its own credit scoring which we set out terms that award points to certain info on credit files. like if you a homeowner we add 30 points to your overall score council tenants lose 10 considered more of a risk. if you have lived at more than 1 address if the last 3 years you lose 20 for each address. After your file has been assessed you are rate with a overall score and the bracket you fall into depends on the limits we can set which is made of our own credit scoring Procedure and that of the credit ref / fraud agencys
bob_builder
20-08-2004, 10:18
My Solo card was issued to me before switch switched to maestro and it has the maestro logo on the back so does this mean that I can use my solo card as a switch/maestro?
AFAIK the switch over to maestro will not affect the way customers use their cards here in the UK, so the short answer is no. It'll still act as a solo card
Interesting, I would guess this is a strange oddity from the old system when Switch was a different brand from Maestro. If your Switch card had a Maestro logo on the back you could use it abroad as a Maestro card but in the UK it would be used as a Switch card even if the retailer accepted Maestro (there were not that many).
I guess in neel2k's case he could use his card abroad as Maesto but as Solo in the UK.
The system is now complicated by the fact that Switch is changing to Maestro. I used my Switch card (pre change to Maestro and pre change to Switch/Maestro) the other day and it appeared on the receipt as a Maestro transaction - whether that means my card is now a Maestro card or the retailer had just changed the text description I am unsure.
In theory, if a UK retailer has the Maesto logo displayed they should accept all Maestro cards (including ones from abroad). If neel2k's Solo card would be accepted abroad by a Maestro retailer then in theory it should be accepted in the UK. Whether you could convivce a UK retailer to try to use a Solo card if they did not accept them would remains to be seen.
However, I expect that when neel2k's Solo card is reissued it will lose the Maestro logo as that is now the equivalent of Switch.
SMHarman
20-08-2004, 12:09
[QUOTE=dellwear]Sorry to multiple post guys.
This is a common misconception, you don't have an overall credit score.
You do i work for a loan & mortgage company that use equifax explorer www.loan.co.uk at work and it generates a overall credit score our company
You are both right. There is no overall credit score, but there is such a thing as a credit score.
Equifax provide the data and the different loan providers decide how to score it. They also (as you not) offer an application to do the scoring, but your company sets the parameterss (+30 for homeowner -10 for council tennant). Another company could set that as +20 and 0 and work with different points ranges at the end of the process.
So you don't have an overall credit score, but a database of credit information, this is used by companies to generate a credit score, but that score will vary from company to company depending on how it assesses the different elements of the information in the credit database.
You are both right. There is no overall credit score, but there is such a thing as a credit score.
Equifax provide the data and the different loan providers decide how to score it. They also (as you not) offer an application to do the scoring, but your company sets the parameterss (+30 for homeowner -10 for council tennant). Another company could set that as +20 and 0 and work with different points ranges at the end of the process.
So you don't have an overall credit score, but a database of credit information, this is used by companies to generate a credit score, but that score will vary from company to company depending on how it assesses the different elements of the information in the credit database.
Perfectly put SMHarman thats settled that cheers
[QUOTE=dellwear]Sorry to multiple post guys.
This is a common misconception, you don't have an overall credit score.
You do i work for a loan & mortgage company that use equifax explorer www.loan.co.uk at work and it generates a overall credit score our company also use its own credit scoring which we set out terms that award points to certain info on credit files. like if you a homeowner we add 30 points to your overall score council tenants lose 10 considered more of a risk. if you have lived at more than 1 address if the last 3 years you lose 20 for each address. After your file has been assessed you are rate with a overall score and the bracket you fall into depends on the limits we can set which is made of our own credit scoring Procedure and that of the credit ref / fraud agencys
Thats exactly my point, you assess the credit file, not the agency, so each company has different rules and different thresholds. There is no overall credit score held on you.
It also doesn't hold that the higher your "score" (god I hate that word) the higher your limit, like I told earlier in the thread that just doesn't hold true.
I guess in neel2k's case he could use his card abroad as Maesto but as Solo in the UK.
Only if it has the maestro sign on it, some do some don't. As far as I can remember Natwest solo cards only have the Cirrus symbol allowing use of over seas cash machines!
You are both right. There is no overall credit score, but there is such a thing as a credit score.
Equifax provide the data and the different loan providers decide how to score it. They also (as you not) offer an application to do the scoring, but your company sets the parameterss (+30 for homeowner -10 for council tennant). Another company could set that as +20 and 0 and work with different points ranges at the end of the process.
So you don't have an overall credit score, but a database of credit information, this is used by companies to generate a credit score, but that score will vary from company to company depending on how it assesses the different elements of the information in the credit database.
:tu:
vBulletin® v3.8.11, Copyright ©2000-2024, vBulletin Solutions Inc.