Virtual Visa Debit Card

What Do You Mean Virtual?

A virtual Visa debit card is just that, it is virtual. The physical card does not exist. You will not receive this debit card in the mail; instead, you receive all of your card information through e-mail. Here's how they work.

• Once your application is processed, a 16-digit debit card number is e-mailed to you.
• A three-digit CVV or verification code is also e-mailed to you. This number is used by online merchants for card verification purposes.
• You load it. These cards are loaded either through your bank account or another credit card.
• Use the virtual card to make online purchases. This card works just as any other debit or credit card. You make a purchase, enter your card number and verification code and you're done!

About the Virtual Visa Debit Card

If you are looking for information about Visa's virtual debit card, take note that it is sometimes called a virtual Visa pre-paid credit card or a virtual Visa gift card. These cards are attractive to those who have bad credit, no credit, students and those who are self-employed. The cards have the following features:

• No income verification
• No credit checks
• No worries about your card being lost or stolen
• You can only spend the amount you have in your account. This means:
  • No over limit fees
  • No late payment fees
  • No non-sufficient funds fees (NSF fees)

Where to get the Card

E-gold

The E-gold virtual Visa pre-paid credit card comes with the following fees and options:

• $39.95 one time processing fee
• Used for Internet purchases only
• Your card can be funded through the following methods: your E-Gold account, check, money order, bank wire, Moneygram or Western Union.
• 3-5% load fee – You will be charged 3-5% of the dollar amount you are loading onto your card.
• $35 fee to send and receive bank wires to and from your card
• $25 fee to send and receive Western Union and Moneygram transfers
• $25 fee for loading your card through money orders

ePassporte

The ePassporte virtual Visa card comes with the following fees and options:

• $25 minimum load requirement
• $5 fee for every $100 loaded onto your card
• $5 annual fee
• $500 maximum load amount per 24-hour period
• $500 limit on a single transaction
• Ten maximum transactions per 24-hour period
• Five maximum load transactions per 24-hour period

ePassporte Select

In order to upgrade your ePassporte account to a Select account you must have two verified load methods or an open account with them for at least three months that has been loaded at least five times.

• $5 charge to upgrade to ePassporte Select account
• $1,000 maximum load amount per 24-hour period
• $1,000 limit on single transactions
• Ten maximum transactions per 24-hour period
• Five maximum load transactions 24-hour period

Hints, Tips and Advice

If a virtual Visa debit card sounds like your kind of debit card, keep a few things in mind before you purchase one.

• Choose a reputable issuer – E-gold and ePassporte have both been around for a long time. They are established and well-known companies. Avoid lesser-known "fly-by-night" companies offering this card to avoid being scammed.
• Virtual cards are used for Internet purchase only – This is a great feature if you make a lot of Internet purchases. If you don't, consider getting a traditional debit card linked to your checking or savings account or a prepaid, reloadable credit card.
• Keep your information safe – Once you have received the e-mail with your card number and verification code, write them down and put them in a safe place. Then, delete your e-mail and clean out your web cache. This will ensure that hackers and phishers will not steal your information.
• Steer clear of individuals selling virtual Visa cards – You don't know how they got the cards or why they are selling them. Think about it this way, this person is selling you a virtual card and sending you a card number and verification code. What's to stop them from using your card fraudulently? Nothing.

Final Thoughts

Virtual debit cards have perks like no credit checks or income verification; but, they have their downfalls as well. Really, the only major perk to the card being "virtual" is that it is not likely that the card will be lost or stolen since you are not carrying it around in your wallet. That being said, your virtual card number can be stolen in cyberspace. So, it is a good idea to think twice before choosing a virtual debit or credit card.