Switch debit cards to be scrapped

Switch will be ditched over the next five years

Switch debit cards could be phased out if a deal with MasterCard goes ahead next week.

Customers don't need to worry about anything. They will be notified when they get their new card

Tim Green, chief executive of Switch

The US credit card company, which is part owned by European banks, has agreed a licensing arrangement with Switch, which will see most of the cards rebranded under the Maestro logo.

Although there are 21.5m Switch debit cards, the Switch brand is being ditched, because it is only recognised in the UK.

Unlike Switch, Maestro is a globally recognised brand - and there are 445m cards in circulation which carry the logo.

Global brand

All member banks of Switch bar one - HBOS - will switch their logos to Maestro.

HBOS said that it would be moving its 7 million Halifax and Bank of Scotland cards to Visa from next year.

The agreement between Mastercard and Switch will not need to be cleared by the Office of Fair Trading because Switch is simply being rebranded.

Change ahead

All other Switch cards will be gradually phased out over the next five years, under the plans.

Most debit cards, including those carrying the Switch logo, already carry the Maestro logo on the back of them, a spokesman for Mastercard said.

Holders of cards with the Maestro logo are able to withdraw funds from their UK bank accounts while they are abroad.

They are accepted at more than 790,000 ATMs worldwide.

Phased in

When the cards are rebranded, the Maestro logo will be moved to the front of the card.

But this process will be phased in.

From next month, people who are issued new debit cards will get cards with both Switch and Maestro on the front.

Then, in two years time, the Switch logo will disappear altogether.

Tim Green, chief executive of Switch, said: "Customers don't need to worry about anything. They will be notified when they get their new card."