![]() ![]() The card doesn’t need to be physically ‘made’ – you simply view the card details in a matter of minutes. And if you order the card before a long weekend or from abroad, you could end up waiting the best part of a week before you can start spending.īy contrast, virtual cards usually arrive immediately after your application is complete. Besides creating the card itself, the issuing company may also need a couple of days to verify your identity. Physical debit cards will typically take at least a couple of days to arrive on your doormat in the post. This simply would not be possible with virtual debit cards because there’s no way criminals could make a physical copy of the card itself. For example, account theft is the third most common form of e-commerce fraud whereby criminals steal your debit card and make online purchases without your knowledge. Unlike traditional debit cards which criminals can steal or clone, virtual debit cards are almost impossible to interfere with. One of the most attractive features of virtual debit cards is that they are virtually impossible to steal or copy. Here are seven reasons to use one: Safety and security for payments 7 reasons people use virtual debit cardsĪ virtual debit card can be used whenever you shop online or for payments using your mobile. Then, with accounts like Xace, you can log in to manage your money from your computer or smartphone.īut why would you use a virtual debit card? Here are some of the most common reasons that people choose them. When you apply for a virtual debit card, you will receive an email containing the card details. And of course, you can’t withdraw cash from an ATM using a virtual card. You aren’t, however, able to use a virtual debit card for certain kinds of in-store purchases that require chip and pin. You get a 16-digit card number, an expiry date and card security code and these can all be used to make purchases online (and in some cases, using your mobile). It provides you with an account where you can add money and it allows you to pay for many services in much the same way as a plastic debit card. Why would you want to use a virtual debit card, and how can you go about ordering one? What is a virtual debit card?Ī virtual debit card is essentially a digital version of a traditional plastic debit card. Unlike the plastic rectangles you carry in your purse or wallet, virtual debit cards exist only in a digital form on your phone or online portal. However, the finance industry is continually innovating and in recent years we have seen the emergence of ‘virtual’ debit cards. One site reported that between 20, the number of payment cards active in Europe increased by almost 85 million.ĭebit cards were first introduced in the 1980s and have gone from strength to strength. Member FDIC.Debit cards are by far and away the most popular way of spending money in Europe. Deposit products and related services are offered by JPMorgan Chase Bank, N.A. Products not available in all states.īank deposit accounts, such as checking and savings, may be subject to approval. JPMS, CIA and JPMCB are affiliated companies under the common control of JPMorgan Chase & Co. Certain custody and other services are provided by JPMorgan Chase Bank, N.A. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. Insurance products are made available through Chase Insurance Agency, Inc. Morgan Securities LLC (JPMS), a registered broker-dealer and investment adviser, member FINRA and SIPC. Morgan Wealth Management is a business of JPMorgan Chase & Co., which offers investment products and services through J.P. Past performance is not a guarantee of future results. ![]() Investing involves market risk, including possible loss of principal, and there is no guarantee that investment objectives will be achieved. "Chase Private Client" is the brand name for a banking and investment product and service offering, requiring a Chase Private Client Checking℠ account. is a wholly-owned subsidiary of JPMorgan Chase & Co. “Chase,” “JPMorgan,” “JPMorgan Chase,” the JPMorgan Chase logo and the Octagon Symbol are trademarks of JPMorgan Chase Bank, N.A. ![]()
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