Perfect card for young people (Solo Card Services)

Member Name: jord121290

Product:	Solo Card Services
Date:	10/11/05 (7856 review reads)
Rating:

Advantages: Easy to use, widely accepted in the UK and online

Disadvantages: Less widely accepted abroad

The Solo card was launched by the Switch Card Scheme in July 1997 (hence the Switch and Solo logos been very similar).
In many ways the Solo card works identically to the Switch (or now Maestro) card, it is a fully electronic debit card that can be used in thousands of retail outlets in the high street as well as most major online shops.
The Solo card is differnet to Switch/Maestro however, in its level of financial control.
Before a payment is processed, the card has to be authroised (we're talking a matter of seconds here, so there's no big wait) and you'll never be allowed to spend more than you have in your account.

Solo is designed to appeal mostly to people getting their first debit card, and is therefore often given out with young saver accounts, in particular from HSBC and NatWest's Card Plus account. As long as the retailer accepts the card, and you have enough money, there are no restrictions on usage of the card and therefore allows young people to easily manage their money and gain experience of the financial world, while at the same time been guarunteed safety and financial security that no other card is able to offer.

The Solo card has adopted the Chip and Pin scheme like all other card providers, adding to the levels of security provided by Solo.
The card looks exactly like all other debit cards. It features a 16-digit card number and all the various other codes and dates found on cards, including the 3-digit security code on the back which is more and more frequently been needed to process online and mail orders.

99% of shops that accept any other card will also accept Solo, so there's no worries about limited usage of the card, this is of course unless venture outside the UK where, despite the card featuring the Cirrus and Maestro logos, you may find there are many shops which will refuse the card.
Online usage of the card is also growing; with more and more shops and payment systems accepting debit cards.
Many major online reatailers like Play.com, Amazon.co.uk and HMV all accept the card with no problems.
PayPal also accept the Solo card, so that's good news for all you eBay addicts!

For those of you who don't already know about Maestro and Cirrus, here's my best attempt to explain:
The two systems are allowing a much wider use of UK debit cards abroad.
Maestro allows you to use your debit card just like normal in any retail outlet abroad that's willing to accept the card.
Cirrus, which works on the same principal as Maestro, allows you to use your UK debit card to withdraw cash from ATMs abroad.
It should be mentioned that usage of both the Cirrus and Maestro functions of a card carry fairly high fees; some fixed rate and others depending on how much you spend/withdraw.

In conclusion, the Solo card is a great card for newcomers to the plastic world and with its greatly enhanced security and safety features compared to other cards, it is great card for use with young saver accounts.

The following websites may be useful if you need more info:
www.solocard.co.uk - The Solo Card Website
www.natwest.co.uk and www.hsbc.co.uk - Both banks offer Solo cards with some of their accounts.

Summary: A great, secure and safe card. Perfect for newcomers to debit cards.