Solo (debit card)
Encyclopedia
.png)
Debit card
A debit card is a plastic card that provides the cardholder electronic access to his or her bank account/s at a financial institution...
in the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
. It is a sister to the UK Maestro
Maestro (debit card)
Maestro is a multi-national debit card service owned by MasterCard, and was founded in 1990. Maestro cards are obtained from associate banks and can be linked to the card holder's current account, or they can be prepaid cards...
debit card. Solo was launched on 1 July 1997 by the Switch Card Scheme for use on deposit account
Deposit account
A deposit account is a current account, savings account, or other type of bank account, at a banking institution that allows money to be deposited and withdrawn by the account holder. These transactions are recorded on the bank's books, and the resulting balance is recorded as a liability for the...
s, as well as by customers who did not qualify for a Maestro
Maestro (debit card)
Maestro is a multi-national debit card service owned by MasterCard, and was founded in 1990. Maestro cards are obtained from associate banks and can be linked to the card holder's current account, or they can be prepaid cards...
(formerly Switch
Switch (debit card)
Switch is a debit card in the United Kingdom. It is a sister to the Solo debit card.Switch was launched in 1988 by Midland Bank, National Westminster Bank and the Royal Bank of Scotland as a multifunction cheque guarantee and cash card. The brand was merged with Maestro, an international debit card...
) card on current accounts.
Solo was formerly issued as a multifunction cash card
Automated teller machine
An automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...
by NatWest
National Westminster Bank
National Westminster Bank Plc, commonly known as NatWest, is the largest retail and commercial bank in the United Kingdom and has been part of The Royal Bank of Scotland Group Plc since 2000. The Royal Bank of Scotland Group is ranked as the second largest bank in the world by assets...
and The Royal Bank of Scotland
Royal Bank of Scotland
The Royal Bank of Scotland Group is a British banking and insurance holding company in which the UK Government holds an 84% stake. This stake is held and managed through UK Financial Investments Limited, whose voting rights are limited to 75% in order for the bank to retain its listing on the...
to customers over the age of 11 and by HSBC Bank
HSBC Bank
HSBC Bank may refer to any one of the following principal local banks for HSBC Group:- Americas :* HSBC Bank Argentina* HSBC Bank Brazil* HSBC Bank Canada* HSBC Bank Chile* HSBC Bank Costa Rica* HSBC Bank El Salvador* HSBC Bank Honduras...
(formerly Midland Bank
Midland Bank
Midland Bank Plc was one of the Big Four banking groups in the United Kingdom for most of the 20th century. It is now part of HSBC. The bank was founded as the Birmingham and Midland Bank in Union Street, Birmingham, England in August 1836...
) to customers over the age of 13; however, the RBS Group and HSBC both now issue Visa Debit
Visa Debit
Visa Debit is a major debit card issued by Visa in the United Kingdom, the Republic of Ireland and other nations of the European Union. Prior to October 2004, the debit card was known as Visa Delta. Since June 2009, the major banks in the UK have begun issuing Visa Debit. Barclays, Bank of...
cards in place of Solo.
Like its main rival, Visa Electron
Visa Electron
Visa Electron is a debit card available across most of the world, with the exception of Canada, Australia, Ireland and the United States. The card was introduced by VISA in the 1980s and is a sister card to the Visa Debit card...
, Solo cards required all transactions receive electronic authorisation from the issuing bank. Such authorisation would not be given if there were insufficient cleared funds in the cardholder's account.
Solo cards were linked to the Switch
Switch (debit card)
Switch is a debit card in the United Kingdom. It is a sister to the Solo debit card.Switch was launched in 1988 by Midland Bank, National Westminster Bank and the Royal Bank of Scotland as a multifunction cheque guarantee and cash card. The brand was merged with Maestro, an international debit card...
processing system (now re-branded as Maestro
Maestro (debit card)
Maestro is a multi-national debit card service owned by MasterCard, and was founded in 1990. Maestro cards are obtained from associate banks and can be linked to the card holder's current account, or they can be prepaid cards...
); however, some merchants differentiated between Solo and Switch through their numbering scheme to prevent under 18s from purchasing online. Due to their availability to minors, they could be used as a simple age-vetting mechanism; for example, when online grocers Ocado
Ocado
Ocado is a British Internet retailer specialising in groceries, headquartered in Hatfield, Hertfordshire, England. The limited company was founded in January 2002 by Jonathan Faiman, Jason Gissing and Tim Steiner, former Goldman Sachs merchant bankers....
accepted Solo, they refused to sell razor blades or alcoholic beverages to those paying with the card )
Solo cards were also issued to people with a bad credit history to reduce the liability for the issuing bank.
The Solo card scheme was decommissioned permanently on 31 March 2011.