NAB Debit Card vs NAB 'VISA' Debit Card - What is the difference?

[hello12345]

Hi guys, im not sure if this is in the right forum as technically it is not a credit card i am asking about but i am hoping to get some information.

What is the difference between NAB's ordinary debit card compared to NAB's 'VISA' debit card? The ordinary debit card we currently have only has either cheque or savings options when paying for items using eftpos. We are able to swap our current card to a 'VISA' debit card that is apparently exactly the same, except we have more purchase protection through visa or something.

can anyone explain to me the advantages of having a visa debit card over an ordinary debit card? I have heard you can choose the 'credit' option to pay for items with the visa debit card, is that correct? if so how does it work? and if you use the 'credit' option at a store that charges to pay on credit card e.g. 1% fee charged to pay using visa, do you still get charged this fee, even though you are not technically paying from a credit card?

Any information you can give would be greatly appreciated! I am very confused at the moment!

Thank you

 

[thewinchester]

Hi, happy to chime in and answer this one.

Payment choices

Yes - having a Visa Debit card will allow you to access the available funds in your savings account using the Credit option on any merchant terminal.

In terms of the merchant fees paid by the company, these differ between banks, merchants, and the type/volume of business conducted. Having said that, fees for Visa/MasterCard debit cards (known as scheme debit cards) are generally lower than those levied against full credit cards.

What if any surcharge is passed onto the customer for using a Visa Debit card is entirelly at the discresion of the individual merchant - and you'd be wise to review any material on their counters to determine if they pass on such fees to debit card holders.

Differences between standard ATM/Eftpos & Visa/Mastercard Debit

• Access to your funds using the credit option at any merchant accepting credit cards.
• Access special offers on shows, events, experiences and movies from Visa Entertainment.
• Shop online more safely with Verified by Visa.
• Chip technology to help keep your card secure.

Paywave was previously available only to Gold Debit Card holders, but I note this is now also offered to holders of the standard debit card.

Protection offerings

Across all of the card products, regardless if ATM/EFT only or Visa Debit cards, you still have the 'protection' of NAB Defence - which is the banks risk management and auditing platform used to monitor and identify potentially fraudulent transactions.

This is not related to purchase protection, which I cover below.

Useless knowledge: NAB uses the same software platform for this as ANZ Falcon, which is a product from specialist global bank software company Fair Isaacs.

Gold differences

The insurance inclusions you were alluding to are only available on the Visa Debit Gold card, which was included with the NAB Gold Banking account and is no longer offered to new customers. Those insurance offerings included;

• NAB Gold Overseas Travel Insurance
• NAB Gold Purchase Protection Insurance
• NAB Gold Extended Warranty Insurance
• NAB Gold Visa Debit Price Protection Insurance
• NAB Gold Visa Debit Interstate Flight Inconvenience Insurance
• NAB Gold Visa Debit Transport Accident Insurance
• NAB Gold Visa Debit Domestic Hotel Burglary Insurance

Further, Gold Debit card holders previously did not have to pay fees such as scheme-levied Foreign ATM transactions, currency conversion and the like - a benefit recently withdrawn by the bank as part of withdrawing the gold banking product from sale.

I hope that's answered your questions, feel free to post more here if you need to know anything else.

 

[hello12345]

Thanks so much for the detailed reply and all of your information it was a great help and i think i understand it a bit more now

 

[greenfrog86]

Thanks so much for the detailed reply and all of your information it was a great help and i think i understand it a bit more now

Also have a look at the Visa website - this is the Australian website for Visa Debit...

Visa Australia | Like EFTPOS? but with more go