Switch Cards and Teenagers

Change bank.

No - though you can always them (in advance) when you are about to open the account.

Personally, out of the "big 4" I suggest HSBC - they tend to be rated highest out of them and have a reputation for basing decisions such as getting Switch cards on account conduct...

If possible, our daughter could try for a First Direct account - they are even more highly rated than their parent (HSBC) but are stricter re: who they accept as customers

Not really, but do let Natwest know why your daughter/you are moving your accounts...

Regards Sunil

Seems odd, a few years ago when I started uni they issues me a switch card and a credit card even though I had no income. Anyway I thought switch and solo were the same in that you cant spend money you don't have so I see no extra risk for the bank. Does she have a student account or a normal account? In my experience Natwest bend over backwards for me on the student (graduate) account but couldnt give a toss about anything to do with my current account.

This is the bizarre thing! They want her to apply for a credit card - again because any "risk" is taken elsewhere. As she will not start uni until September, they will not class her as a student until then.

Stony

Yeah I think it was the same for me. If possible she should wait until she has enrolled on the course and then join the four hour queue along with everyone else at the local natwest branch. I think the standard student package contains a credit card/switch card and cheque book as well as some sort of incentive.

This is her total balance with Natwest - some of it is in savings vehicles - I am just trying to show that she is not just dealing with "pocket money" here.

Stoney

Without a hint of irony, "Mr Bean" astounded uk.finance on

They'll throw them at you if you're a student. Barclaycard actually gave me a second card whilst I was still paying off the arrears on my cancelled first card.

AFAIK (BICBW) Solo cards are electronic transactions only, along with Electron (they're not even embossed). This means every transaction has to be swiped and authorised. Switch cards can also be used manually (key entry or imprinter) and can be authorised offline.

The risk in issuing a Switch card is that the account can go overdrawn. This is not possible with an electronic-only card.

Solo cards can be used for mail order (cardholder not present) transactions with some retailers. Most Electron cannot, although with HBOS changing from Switch/Solo to Delta/Electron I believe that some Electron cards will be usable for CNP transactions.

The main feature of Solo/Electron cards is that they have a nil floor limit and all transactions have to be authorised at the time of purchase.

Alan

Don't reply to this e-mail address - messages will be deleted unread. To reply to me take away the news and substitute alanc

Then I wonder what makes retailers not accept them as the risk must be lower if each and every transaction is authorised.

Not all tills are on-line, and do real time authorisation of cards, especially Esso. Unless their system is live, they cannot accept Solo/electron.

The system some places are using are really old. They send all the credit card purchases down the line at midnight, and only update during the day for stolen cards.

Gaz