Exciting articles several times a month
8 September 2016
Virtual pre-paid debit cards are a safe and cost-effective way to buy items over the phone or the Internet. You can’t lose your online payment card and you can’t fall to temptation and overspend – everyting is under control! And, contrary to traditional cards issued by banks, a virtual pre-paid Visa or Mastercard won’t require any credit checks and can be delivered to your e-mail address or computer screen immediately.
Virtual pre-paid debit cards – why pre-paid, not simply “debit”?
A virtual pre-paid debit card works the same way as a physical pre-paid card, but it does not have any plastic base, so you can’t use it in a physical store. Basically, it represents a set of sensitive information: a randomly generated card number, its expiration date and CVV code – everything that is required for shopping online. For website owners, virtual debit cards won’t differ from any other debit cards they accept.
Contrary to a classic debit card, a pre-paid debit card doesn’t require a banking account, it can be issued by any eligible financial services provider. All that you need to do is to submit an application online and pre-load funds onto your card. Another difference is that classic debit cards often come with an overdraft option, while pre-paid debit cards don’t allow overspending.
While a bank debit card is considered as a “personal” card linked to your checking/savings account, a virtual pre-paid debit card can become an ideal payment solution for companies working online and wishing to offer their employees a fast and flexible way to receive money without opening them a banking account. They can simply order them a virtual card and fund it using one of the offered methods (digital currencies, wire transfers, etc.).
Virtual payment cards: pros and cons
No matter where you actually live, virtual pre-paid debit cards are accepted all over the world and can be issued in different popular world currencies, like US dollars or euros. In comparison with traditional plasic cards, they charge less service fees: you will typically need to pay a one-time fee for opening a card (around 5-15 EUR or USD) and a fee for topping it up – 1-5% of the transferred amount.
Pre-loaded payment cards help users manage their personal or business finances more efficiently – you can’t spend more money than you have loaded. Depending on the issuer, you can order either a reloadable card that can be funded as many times as you want or a disposable card that can be loaded just once and used until you have money on it.
The biggest drawback of all virtual cards is that you can’t use them in physical locations where you are supposed to swipe a card. Also, if your virtual card has been deactivated, it may be difficult to get money back for damaged or undelivered goods. And, your web card number and other sensitive infomation can still be stolen, so keep it in a safe place and avoid suspicious retailers selling counterfeit products.
Best pre-paid debit cards available online
Here is a collection of the top virtual pre-paid debit cards that won’t require annoying credit checks:
OKPAY Virtual MasterCard Card
Do you need a fast and secure means of moving your funds all over the world? Pay attention to OKPay – the company offers to open a virtual MasterCard card in USD for just $15. All necessary data required to make online payments will be sent to your e-mail address indicated in the application form.
The standard top up fee charged for funding a card is $3 + 1%, but if you want to deposit money on a priority basis, you will need to pay $5 + 1%. The company allows customers to fund virtual cards via e-wallet balances. However, the maximim amount that you can transfer is limited to $3000 per day.
Worldcore Ultimate MasterCard Card
Worldcore, an advanced financial institution based in the Czech Republic and authorized by Czech National Bank, offers to open a virtual pre-paid debit card for just 5 euros. The card can be issued in 3 most popular global currencies – USD, EUR, and GBR and will be a good match for business owners and for individuals looking for an affordable way to pay for goods and services online.
You can load funds onto your virtual Worldcore card via your website balance that in turn can be funded from any bank account or via digital currencies. For example, if your partner transfers money to your website account, you can rapidly fund your virtual card and start shopping! The top up fee is 0.99 EUR.
EntroPay Pre-paid Virtual Visa Card
EntroPay’s pre-loaded Visa cards are a good choice for people who want to apply for a payment card from the comfort of their home, make secure online purchases and control all expenses. It won’t cost you a penny to open a website account or issue a virtual card.
You can deposit funds on your EntroPay card using a standard bank card – in this case, the loading fee is $4.95. If you receive funds from a merchant, you will need to pay $1.95%. The money will become available in a minute, and since your card is Visa branded, it will be difficult to find an online store that won’t accept it.
MoneyPolo Virtual Quick Card
MoneyPolo, a fast growing company working in the Fintech sector, offers to receive an online payment card for $15. You can order either a reusable card that you can fund as many times as you need, or a disposable card that you can fund only once. The top up fee is $3.
You can load up to $6,500 onto your card, but it’s possible to open three online cards at the same time. Please note that if you don’t use your card for 60 days, you will need to pay an adminitration fee – $10 during the first year, $17.50 during the second year, and $25 during the fird year, so this offer is for people who are going to use their card actively.
EcoPayz provides various financial solutions for both individuals and business owners. Their ecoVirtualcard is a one-use secure web card giving its holders additional protection and peace of mind while shopping online. Even if the card number is stolen, it can’t be used for a second time.
The EcoPayz virtual card is offered in EUR, USD, and GBR. The card issuance fee is €1.80, the cash services fee is 4%. The maximum number of web cards that you are allowed to have depends on your system level, for example the lowest Silver status gives you the right to open 3 one-use cards per day, 30 cards per year.
US Unlocked Virtual Visa Card
It’s not a secret that numerous American stores accept cards issued by US banks only. But what to do if you are not a US citizen? US Unlocked knows the solution. The company offers to open a virtual pre-loaded payment card accepted in online US-based stores.
The US Unlocked virtual Visa card is a reusable web payment card with a valid US billing address. The one-time membership fee is $15, the monthly service fee is $3.50. The top up fee can vary depending on the selected method to deposit funds: for example, bank or Western Union transfers will cost you $3 and 3%.
Advanced Cash Virtual MasterCard Card
ADVcash offers customers to open a virtual MasterCard card in US dollars or euros. You can use your web card to receive funds as a freelancer, or, vice versa, to redirect payments to your partners or employees working online. The card issuance fee is just 1 USD or 1 EUR.
The company offers to load money onto your online Advanced Cash cards via your own account balance or via any other ADVcash accounts (up to 3000 euros or dollars per day). The top up fee is 0.99 USD/EUR per transaction.
Some years ago pre-paid payment cards were considered as the only affordable solution for people with a damaged credit history, but the situation has totally changed. Such obvious benefits as a clear fee structure and fast money access make virtual pre-loaded cards an exclellent online payment method for all people. Pre-paid cards can be as good as a wallet full of cash, just choose a reliable issuer and stay away from suspicious websites.
Exciting articles several times a month