Virtual Card fees


#1

Hi,

I am thinking of issuing a new virtual card which from what I understand will cost me 6Euros. Is that correct?

What I would also like to know is if there is a charge to top-up the virtual card or can I use it directly with the balance in my account.

I am looking for a way to use a card for online payments with a prepaid amount so that I know for sure that even if it’s compromised online the risk will only be the amount within the card.

Looking forward for your answers!

Best,

G


#2

First virtual card should be free.

No, unless you’re topping up with a credit card.

Yep, :r: cards at the moment are pre-paid debit cards. You can manually ‘freeze’/disable the debit card within the :r: app.


#3

Hey there @idet2 :slight_smile:

Yes, it is :slight_smile:

None! Apart from the FX fee (which is free for the first ~6.000€ each month, 0.5% after those ~6.000€), you’ll pay nothing :money_mouth_face:

The physical card acts also the same way :wink:


#4

I already have a physical card so the virtual is not free.

What I don’t understand is if I have to top-up the virtual card (and use it as a pre-paid card) or can it be used directly from the balance in my account.


#5

Ah right, in which case, you will have to pay the issuance fee for additional virtual cards.


Both cards are linked to your :r: account with the 26 currency accounts. There is no need to top-up each one separately.

If you imagine your :r: account as a bowl of water, your physical debit card would be a cup and your virtual debit card would be a small bowl. Essentially, all your debit cards (whether physical or virtual) draw upon the same source.


#6

So I don’t have to top-up and the balance in my account (the “bowl” that you 've described) is the limit but that means that if the card details leak somehow then I have to freeze the card. Is my understanding correct?


#7

Yes. Every card will draw upon the cash reserves in your :r: currency accounts.

Ideally you won’t be transacting with unscrupulous counter-parties, but if your transactions are non-subscription (e.g. One-off.), what you can do is freeze the card, and every time you want to do an online transaction, you can un-freeze the card temporarily, so the transaction can be authorised.

What you could do is set a spending limit, but I’m not sure whether this limit is limited to a single card or your entire account.


#8

Excellent!

That’s what I had in mind!

Thank you all for your help!


#9

I 've just created the new virtual card and to my surprise is not accepted on an online payment.

Is there a way to cancel it and get back the 6Euros since it’s useless?


#10

Hey there @idet2 :slight_smile:

Where did you try to use it at, if I may ask? :wink:


#11

This place: https://www.writepanda.com/subscribe9/


#12

Hey @idet2 :slight_smile:

I’m not an expert, but these “almost-free-signup-for-an-awesome-gift-and-then-high-as-f**k-hidden-monthly-fee” sites (that’s the actual technical name) refuse prepaid cards because their purpose is to rip people off and prepaid cards are not the best for that :wink:


#13

Also, @idet2, keep this in mind :stuck_out_tongue_winking_eye:


#14

I know about this! Nevertheless I still said to myself why not try your luck and that’s why I wanted to use a pre-paid card that could be stopped as soon as the 1Euro was charged.

In any case now that I am not using the card can it be removed from my account and get refunded or not?


#15

You may have to contact :r: regarding this.

However, given how :r: incurs a fee on card issuance, I’m not too sure whether a refund can be arranged. Best contact :r: regarding this.


#16

OK! I will do it in the morning since support is not now available…unless I can reach them somehow through here…


#17

Hey @idet2 :slight_smile:

It will probably be easier to reach :r: through the in-app support chat, but, just in case, let’s mention @AndreasK and ask him if he’s ok and all good.


#18

If you read properly the website it says: "This offer allows you to benefit for 5.00 € from 3 days trial at ebook service"
Did you really think you can get the iPhone X for 5 EUROS???