Bank plastic cards have firmly entered our daily lives and are actively crowding out paper money. First of all, it is a convenient financial tool for cashless payments both in the service sector and in ordinary stores, and online on Internet sites. At the same time, you can always withdraw cash from the card - directly at the bank or through an ATM. Cards are divided into debit and credit cards.
To understand what a virtual debit card means and how it differs from a credit card, let’s define the main characteristics of these financial instruments. If to explain in simple words what a debit card is, then, this is a card where the client’s own funds are stored. More precisely, on the bank account that is attached to it. The bank’s money is on the credit card, which it lends to its client, that is, it gives the right to use it for a period of time. This is a paid service for which the bank charges a certain percentage.
The so-called salary card - a type of debit card - is opened for the client as part of a salary project. The employer transfers the salary of his employee to it. Banks charge a fee for servicing debit cards and conducting transactions on them. This is usually a small amount. Its size depends on the package of services and privileges. For servicing virtual debit cards, payment is most often not charged.
What Is a Virtual Debit Card For?
This payment tool has many advantages:
- Convenience. This is the first reason why you need this card. Any amount, even quite large, you can always have at hand;
- Freedom of Settlement. Almost any calculations and purchases become possible, whether you visit the store in person or prefer to make purchases on the site. To pay utility bills, fines and taxes, you do not even need to leave the house. Is it possible to pay with a debit card in small retail outlets, should be clarified with the seller.
- Reliability. The bank card is equipped with a modern reliable chip. In addition, you can connect an alert system to it, which means that you can control all operations on it at any time, which gives additional confidence. In case of detection of suspicious activity or loss of a card, you should immediately block it by calling the bank hotline.
- Benefit. Debit bonus cards allow you to benefit from the bonus programs of the bank and its partners.
- Worldwide coverage. Using cards of large foreign banks is also beneficial abroad - for example, withdrawing cash from a debit card at any ATM can be completely free, and an additional account can be opened in one of 10 world currencies.
- Simplicity of design. Leave a request on the bank website, and specialists will advise you by phone about how to get a virtual debit card, and will also answer your questions.
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