7 Reasons to Consider Switching to a Virtual Debit Card
It’s estimated that the average American adult may have around 22 credit, debit, or prepaid cards. There’s no shortage of cards that you could choose from, but what is the best option? Virtual cards are easy to use, safe, and won’t weigh you down.
Not sure about the benefits of a virtual debit card? Read on to learn more!
1. Added Security
Almost half of all Americans have had a fraudulent charge on their debit or credit card. Physical cards are easily misplaced or stolen, making them more susceptible to criminals. Virtual cards are almost impossible to have stolen or copied.
2. Quick and Easy
A physical card could take days to weeks to arrive in the mail. There is also a chance that it could get lost in the process. Alternatively, virtual debit cards will be available to you as soon as your application is completed without the hassle of a long wait.
3. Easy Cancellation
There are some circumstances in which you only want to make one or a few purchases on a card. This might include something you don’t want on your normal bank statement, a trip abroad, or from a site that you aren’t sure about. A virtual payment card allows you to cancel after you’ve made your purchases.
4. Set Spending Limits
People who want control over their spending could benefit from a virtual card. Parents, businesses, and certain professions are able to easily enforce money management through these types of cards.
5. Multiple Cards at Once
Most virtual banking options will give you the option to have multiple cards at once. This is perfect for businesses that want to track and control employee spending. You will be able to see who spends what, give them limits, and eliminate the fear of someone losing the company card.
This type of management is terrific for families as well. Similarly, you’ll be able to track everyone’s spending while setting limits.
6. Great for International Payments
Anyone who makes frequent international payments likely knows the pain of the international transaction fees. These can add up rather quickly. In contrast to a high street bank, you should be able to pay in local currency and experience lower fees. These are wonderful options for those who are planning to take a trip abroad.
7. Environmentally Friendly
There are more than 7 billion payment cards in circulation in the U.S. alone. Most of these cards are made of plastic which continues to be an issue for protecting our planet. Every day these cards expire and need to be thrown out. You can reduce your carbon footprint by eliminating a physical plastic card that has to be sent via mail.
Virtual Debit Card: Safe and Easy
A virtual debit card is safe and easy for everyone. They offer a wide range of benefits that span past even what we have covered here in this article. As our entire world becomes increasingly virtual, there’s no doubt that these useful cards will become more common.
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