Re: debt in uk
 

Debit cards take your own money from your own account. They *debit* your account.

A credit card gives you money on credit. It's not your money at that point.

Some people use credit cards when they have nowt in the bank so a debit card would be as much use as a chocolate teapot:D

If it aint in there, you can't have it...so a debit card is no good:D

Re: debt in uk
 

The bank I worked for wouldn't provide Debit cards in Queensland as they wanted people to use Credit cards instead:mad:

It was only when a competitor bank brought a debit card here to Qld this bank was worried about losing customers that it offered a debit card to Qld customers. And this was one of the better banks:rolleyes:

Re: debt in uk
 

The point I was replying to was: without carrying cash, not having no cash!!!

For some reason the banks have this reputation of being untouchable, able to do as they please, but in UK people are slowly starting to see they can ask questions on their highly illegal policies and procedures and in some cases (most) get their money back.

The point of a bank is to make money, we all know this and most accept this when lending off them. I agree if you can't afford the repayments, don't get the loan, however no-one can see in the future and I feel the banks show no sympathy or offer help when people are at their worst. If they are making a billion £ a day on charges and people are having to go without heating or unable to pay rent because of the charges they have just added to the account. I disagree with the fact the bank can just take out money from your account whenever they want. If you haven't noticed I dislike UK banks :)

When I visited Australia last year (my trial run) I queued to pay for some groceries with my partner, but she wanted to go somewhere so left me with her card and pin number to pay at the check out. This was fine until I got there and the checkout girl asked me what account on the card I wanted to pay from. They don't do that in England! plus I hear bank transfers and cheques all come out quicker in Oz too (I don't know if that's true).

Re: debt in uk
 

We have an three accounts with the ANZ.

The first is our everyday account where we can use eftpos facilities
The second is our savings account which is where the bulk of our money is
The third is a Visa Debit card account.

the visa card debit account works the same as a Vias card, except without the debt. We keep that account topped up with a few thousand $$$ so we can use it for internet transactions and places where we can not use the eftpos facilities and the good thing abvout it is that you can only use what you have put into it. Excellent idea as you cannot go into the red :D

Re: debt in uk
 

Agree. Debit cards are an excellent idea as they don't let you go into the red, but that's why banks don't like them, they don't earn the banks the same amount of money they get from credit cards.

To complicate matters further, you can in fact get debit cards that do have credit facilities. Normally the credit card faclities on these cards is only a small amount. In essence debit cards are designed to only debit your own money from your account so you only use your own cash, and like you say, you can't get into debt:)

Re: debt in uk
 

You can ;)

I have one and went overdrawn by $50 while waiting for some cash to transfer, got charged $35 for the privilege :rolleyes:

Re: debt in uk
 

Yup debit cards are not authorised by the bank below the low floor limit in the UK. A fact thats exploited by card thieves since they nick a card and realising that its going to be reported stolen and wont be authorised keep the spending below 50.00 for example.

A certain high street bank approached me some years ago with a list of transactions in London made by stolen debit cards wanting me to try to track down the people and recover the cards. The debt list for that card list ran over million and it was less than 100 cards involved.

I believe EFPOS in australia is different since it makes an authorisation request no matter what the amount.

Re: debt in uk
 

Yes, it makes the request - which is turned down (by HSBC) if the amount exceeds IIRC $1000!

I'm always getting caught out by that, and having to pull out my CC.

Re: debt in uk
 

Yep...you're right Wendy. In my comment above I said this but maybe not clearly. What I meant was unlike C.Cards you can't get into large amount of debt, just the small amount they generally allow on Debit cards:)

BTW...if they charged you $35 for being overdrawn, you could ask them for a refund if it was your first offence:D

Re: debt in uk
 

Will try that :D

Re: debt in uk
 

Aye.....tha's a good Yorkshire lass.

Dont let side darn will thee:D

Re: debt in uk
 

anyone with debt worries in the uk should check out a site called confidentialaccess.com
you are not subject to anyones status.
peace and prosperity to you all,
kieron.

Re: debt in uk
 

Whippet breeders the lot of you! :)

Re: debt in uk
 

Aye...better than being inter-breeders:p :eek: :D

Re: debt in uk
 

I am new to this forum and this is only my second post.

I have to agree with some of the comments regarding the banks and credit card companies in the UK, they do make credit to easy and tempting for people to obtain.

Most financial institutions have to budget for bad debts, they write millions off each year but still make an healthy profit.

I recently closed a credit card account which had $19500 limit on it :scared: It was orriginally a £2k card but other 6/7 yrs the limit grew (as a good customer who paid his bill) and the cheques would regularly arrive before christmas and holiday time.

I think anyone who can shaft the man and get away with deserves a pat on the back,,,if a few paople can beat the system good luck to them.

and before i get shouted down, i plan to pay any outstanding debts,,,,under the wifes orders :rolleyes:

mick