Let's go SOLO (Solo Card Services)

Member Name: robertliu84

Product:	Solo Card Services
Date:	29/06/01 (4140 review reads)
Rating:

Advantages: Good for Under 21s, Widely accepted, better than Electron

Disadvantages: Not accepted everywhere, Switch is better

SOLO, this is a debit card, launched by the Switch Card Scheme in 1997 (I?ve done my research). I currently have one with Natwest?s Card Plus account aimed at people aged 11-21, so my experiences of SOLO will be tailored towards NatWest, but I?m sure the services offered by the SOLO card are similar all round.

SOLO is a debit card. What is good about this is that you can use it to pay for goods at shops, online or over the phone (or anything else you can think of) using this card where it is accepted. The limit with this is you can spend the as much as you want, as long as the money exists in your bank account that is associated with this card. This is a good thing as this card is mainly aimed at the younger generation of people, like I was and still am, who would like to attain some independence on their finances, but also have some authority over it.

With NatWest, should someone?s SOLO account go overdrawn, they will write a letter to their parents informing them of this, and also stop any other transaction to make the account overdrawn, so to save the poor soul from getting into debt. I think this is for all who are under 16 though, but this is also a reason for the parents to let their children open a bank account.

SOLO can be used just like the Switch card or like a credit card, except that you have to type in the issue number and sometimes a valid from date. I said ?type? because I have used the SOLO card for a lot of online purchases. I shall describe some experiences later. The SOLO is now widely accepted, and the website (www.solocard.co.uk) says there are now 5.02 million SOLO users. I don?t think it is as widely accepted as the Switch, or even better VISA or MasterCard. However, shops and services are slowly adapting.

At the shop, that accepts SOLO, which is usually displayed at the till or shop window with a unique ?S? logo: You pay for the goods or service, give the cashier the card, they will swipe it and then as
k you to sign a slip if security checks are OK. Nice and quick. I?ve used it once at a shop buying some memory for my computer, and it was a breeze.

This card can also be used abroad in some countries that display the 'Maestro' or 'Cirrus' symbol, however Natwest charge a percentage of what you pay for using this, as it does cost them money to exchange money abroad.

Online: Well there have been endless places which I have used this card, dabs.com, amazon.co.uk, firebox.com, to name just a few. It has been very easy to use, and I have experienced no security issues or problems in using this card. Each time it works, and I?ve even had refunds transferred through my card.

The SOLO card can also be used as a cash card, to withdraw cash from cash machines by entering a 4 digit pin number. I?m not quite sure whether you can use it for cash back services as well, but I don?t quite need it.

What NatWest?s Card Plus account offers the SOLO card, where they give monthly postal statements to show you what has happened to your account in the last month. I also have a cheque book, and should I find a job, can upgrade from SOLO to Switch, but that?s not what I?m writing about. The paying in book is simple to use, and the best feature of all is NatWest?s Online banking facilities. I might write an opinion on this if there is a category, but it works quite well, and updates quite regularly (within 24hrs), however is a bit slow.

Personally, I quite like the service myself, and it has been very useful. One drawback about it is that I wish I won?t spend so much. Since there is this extra way of purchasing goods, it has made decisions like should I get it or not, go the get it way, because I can pay without having to ask my dad for a credit card. I?ve managed to spend way over £750 in about 2 years, but that?s my problem, and I hope you?ll have less (or more in some cases) money in your account to tempt you into buying g
oods. The major plus, is that it is easy, useful and well good way of controlling your finances without getting overdrawn on a credit card.

Highly recommended for under 21s. Check other banks as well, because I don?t know what they might offer that NatWest doesn?t. Thanks for reading :)

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