Virtual Debit Card : What Is It ?

This term has been making its way around the Internet for a little while now, but it is still a relatively new concept that a lot of consumers simply don’t know about. But with a big increase in online shopping every year, it is a very secure and simple option for all of your online shopping and something to look into.[br]

This term has been making its way around the Internet for a little while now, but it is still a relatively new concept that a lot of consumers simply don’t know about. But with a big increase in online shopping every year, it is a very secure and simple option for all of your online shopping and something to look into.[br]

The term virtual debit card means exactly what it says, the card is a virtual card. A physical debit card will not exist. Instead of receiving a debit card in the mail you will receive all of your card information by email. Of course this does present a few restrictions on how you can use the card. Since you will not have a physical card, this limits the use of it to online purchases only. So, if you as a consumer hardly ever shop online then this kind of debit card is probably not right for you. 

Here is the process for getting and using a virtual debit card. First, you need to choose a company to apply for a card with. There are many reputable companies out there that provide these kinds of online debit card, so be sure to make sure the company you choose is a good company.

Once you have applied and your application is approved and processed then a 16-digit debit card number will be emailed to you. They will also send you a separate email that contains a 3-digit CIV number. This number is used by some merchants to verify the authenticity of the card. Companies usually present two options for providing funding for the card, either you can load money onto the card like a prepaid debit card or link the online account to your checking account. Now you are ready to start making purchases.[br]

There are a few differences between the types of virtual debit card offered by different companies, so you will need to choose which one you prefer. The biggest difference is whether the company provides merely one card number or multiple ones. Usually this is something that is mentioned right up front so that you know what their procedure is. If the company provides one, constant card number then you will need to save the original email somewhere safe until you have the number and CIV number memorized.

More commonly a company will issue you a new card number and CIV for each purchase. All you have to do is sign into your account with the company and request a number, it will be emailed to you in a few moments and that is the number you use for that transaction. Most companies prefer this method because it keeps your account safer since the card number can only be used once.