Do I need a debit card?
Most lenders required both borrowers and guarantors to have valid UK debit cards.
- This could be either a Visa Debit, Visa Electron or Debit MasterCard
- They do not accept prepaid debit cards
- A debit card is needed as loan repayments are collected from the card using a Continuous Payment Authority (CPA).
- The Debit Card provides lenders with suitable identification
Also see: Do guarantors need to have a debit card?