Is the concept of a VISA debit card completely unknown in Switzerland? (or at least canton Zürich)?

I opened an account with Credit Suisse a few weeks ago and received the standard Maestro card, which is great in Switzerland (and in overseas cash points I hear), but is totally unusable for buying things over the internet.

I had a meeting with my bank manager for my company account today and was asking him how to get a VISA (or similar) debit card for my account, but he had never heard of such a thing, insisting that they were only credit cards.

I showed him my VISA debit cards from the UK and Denmark and he seemed visibly shocked saying "I thought Switzerland was leading the banking world, but I have not even heard of such an advanced concept". I didn't want to destroy the man's pride even more by suggesting that these "cards from the future" had been available for many, many years in these other countries.

So, has news of VISA debit cards really failed to penetrate Switzerland or was my bank manager just a little confused? If not, then is it only the UK and Denmark that enjoy the freedom of paying for things in this way? I find it hard to believe that every Swiss internet/phone purchase is done on credit :S

Russell.

Considering that most Swiss "credit" cards are funded by direct debit from your account, it's really the same thing anyway.

I am having the same problem. A Maestro card is useless to book or pay for anything online and i am having to use my UK Visa card which leaves me out of pocket everytime i transfer money to the UK. I have asked all the major Swiss Banks and have been given to same response...Only Credit Cards in Switzerland carry the visa or mastercard logo. and depending on your permit you can only apply for a credit card if you sumbit 10,000 chf as a holding fee!!...Crazy :-(

But these "credit" cards are real credit cards, right? They have a large limit on them that is not your actual bank balance and payments are made from another account that you then have to pay off (albeit by monthly direct debit) or you incur interest? If so, then that is also the definition of a credit card in other countries.

It isn't really because the balance isn't reconciled in real time, its once a month.

Its mainly psycological, but I just prefer to be able to see all my transactions in one place and only spend what I have in my account. If I need to reach beyond that I can then whip out the dreaded credit card.. but I prefer to keep the balance on that the same every month i.e. 0 CHF

Well I suppose that if you overdraft your normal bank account with a VISA debit card you incur interest as well? Doesn't it boil down to the same thing?

The main difference is that a credit card allows you to spend money you don't have, with the expectation that you will have that money at the end of the month (or some unspecified time in the future ).

With a debit card attached to your bank account you can only spend money that you already have. This means that people who have problems with managing debt can have the convenience that a credit card offers without the problems that easy credit can cause them.

This is a subtle difference if you are good at managing your money and controlling your debts, but a massive difference if you are not.

Oh, you can also get the equivalent to VISA debit cards in Australia. None of the major banks offer this facility, but credit unions/societys have been offering this service for nearly 20 years.

i was amazed as well at the lack of debit cards, and am now the owner of a credit card again for the first time in 10 year (and we're from south africa, you know that 3rd world country with all the problems and backward ways...)
but the balance is reconciled on a monthly basis so its not so bad...
good luck!

Wow. Honestly, I'm perfectly aware of what a debit card is and how it is different to a credit card. I really don't want to spend time debating how they can be looked at as the same thing; they're not, they're entirely different concepts I promise you! It seems as ridiculous as arguing that bread and pasta are just carbohydrates at the end of the day.

I'm sorry if my original post put you in this pedantic mood. Maybe I wrote it like another "what can't every country be like mine" message, but it wasn't meant to be. There are lots of things Switzerland does better than the other places I've lived. I like it here

The only 'outrageous' thing about this is that my bank manager wasn't aware that the concept existed in other parts of the world and I attempted to write my post in a slightly hyped manner to show the humour in this.

Anyway, to avoid further confusion, my questions for debate were simply:

* Is it true that Swiss banks do not offer a VISA (or similar) debit card that I can use for buying things online?
* Is the concept of a VISA debit card widespread in more countries than just the UK and Denmark, or is my bank manager a little sheltered?

I think the first has been answered now, but I'd still be interested to hear how many other places use this and if anyone knows the reasons why Switzerland doesn't.

Russell.

I have got both UK and French debit cards endorsed by Visa (UK) Master Card (FR).

Although I prefer to use a CC card when spending over the net as you have a degree of security if it goes wrong, but that's just my way.

Just as a note, I visit France a lot and it's hit and miss with the Credit Suisse Maestro on acceptance, ATM's in our home village work and some not...

Hmm.. I know the concept, but even a quick search (sorry no more time, still working) did not reveal anything. I'm sure it does exist somewhere though. No brownie points for the banker though, he should know his business

I can offer a reason though, as why debit cards have not made it into the daily life here yet: most stuff (from Swiss companies, sorry) ordered online *usually* comes with an invoice, you don't pay in advance. This might be a setback, if you try to keep a lid on the spending. It's nice though and limits the use of the credit cards here. Just make sure you pay your invoices!

Yes, that's true about credit cards being better when things do go wrong with internet purchases. Thanks for adding France to the list

They have them in the US as well. Most banks would rather give you a debit card rather than a regular ATM/Maestro card since it gives them another avenue to earn fees when you use it for purchases.

I prefer to have separate cash/ATM and credit cards because if my wallet is lost or stolen and the credit cards are used fraudulently, my bank is the one on the hook for the loss immediately (assuming I report it in due time, of course) rather than me having to try to get cash back into my account which could happen with a debit card.

You are right ... I believe the idea of the debit card that can be used at MC/VISA locations is not known here.

Instead they use the check card with a Maestro function which is similar but limited to store purchases, not usable online.

Why not try to get a credit card instead? Migros and Coop both have a Mastercard with no annual fee ...

I was also amazed that the Swiss banks don't offer debit cards and for years used a Mastercard from UK. However, for the last 2 years GE Money bank offers this service and you can pick up an application form from MIGROS. Also the COOP offers a similar service and you have to enquire and pick up a form from the COOP.

I have applied for a credit card now from Credit Suisse, but thanks for the information Enaj!

Note - the Coop Mastercard is issued by Swisscard (just like the Credit Suisse card is). Coop card is free, Credit Suisse charges an annual fee.

Ahem. Those were credit cards, not debit cards, last time I checked.

Coop

>>> http://www.supercardplus.ch/
>>> "Kreditkarte"

Migros
>>> http://www.mmastercard.ch/de/index.html
>>> "Kreditkarte"

Application can be completed online, then printed & mailed.

Hi All
Not wishing to sound holier than thou, but considering the terrible mess most of my countrymen in the UK have got themselves into with ridiculously easy access to credit, (£19,000 average household debt, that does not include the car!), perhaps the Swiss have their heads screwed on.
I have a UK VISA that I use for Internet purchases and rare one-off big ticket items, which I pay off within a month or two. I was astonished last year, when on the basis of a quick phone call to the bank asking for a temporary increase in my VISA limit by £2,000, they offered me an increase of £20,000! Talk about a Siren-Call to come and live on the "Never-never".
On the other hand, trying to make big purchases abroad using this card has become close to impossible. I remember a few years back, sweating under the shop assistant's gaze in a diamond shop in Antwerp, in May, trying to buy my wife's engagement ring, while some spotty teenager asked the security questions:

1. Date of Birth, Yep, know that one.
2. Mother's maiden name, Ditto above.
3. Current balance of account, Zero..
Now for the million dollar question (Drum roll please maestro...):
4. I see you made a purchase in November, could you tell me the amount you spent, and which country you made this purchase in? EH!! YOU WHAT!! How the #@##'% am I supposed to know that!?

I'm very sorry Sir, I cannot authorise this transaction as you did not answer all the questions correctly.

Luckily the shop owner took pity on me and took a carbon copy of the card for me to sign.

Cheers

Jim

I think the lack of Visa debit cards needs to viewed together with the recent history of Swiss retail banking and consumer habits.

Both the banks, by fixing a high commission they take from retailers/merchants, and the Swiss consumers' preference for cash, meant the use and spread of credit and thus debit cards was not as widespread as in many other modern societies.

I remember within the last 20 years when the filling station at the Glarnerland services on the A3 autobahn (Zurich bound) did not accept credit cards!

Eurocard, later replaced by Maestro, had chip and pin capability years before the UK.

I daresay that the lack of a Visa debit card has much to do with the banks here not getting a big enough cut of the action.

Another Swiss banking gripe is that cross-bank cash machines attract a fee. This was introduced some 15 years as I recall.
I am a ZKB (Zurich Kantonalbank) customer and if I wander into nearby Schwiez or Zug, although their Kantonalbanks have nearly the same logos and give the impression of being the same company, the blighters charge me for removing my cash. So in fact I cannot get cash without charge from and ATM except at ZKB ones which are only in the canton of Zurich.

On the plus side, I have the direct number of my personal adviser and I don't have to talk to a call centre in India as I do with LloydsTSB...