What is a virtual card?
A virtual card is a digital card which you can use to shop online and make payments for services online. Think of your regular debit card but in this case, a digital card instead of a physical card.
Why do you need a Bitnob virtual dollar card?
Bitnob’s Virtual Dollar Card opens your options to a broader range of global merchants and websites to make payments on, without being limited by unfavourable government policies. With the Bitnob Virtual Card, you can shop and pay for subscriptions on thousands of Visa card-supported platforms across the globe. Enjoy a seamless online shopping experience on platforms such as Amazon, H&M, Shein, and AliExpress. Subscribe to online services like Netflix, Amazon Prime, iTunes, Spotify, and even make donations to your favourite religious apps like Youversion. There is literally no limit to where you can shop, and how much you can spend.
This article answers the questions you may have about the Bitnob virtual card.
How much does it cost to create a virtual card on Bitnob?
Creating a virtual card on Bitnob costs $2 only.
What is the minimum amount I can top up my card with?
You can top up your virtual card with a minimum of $3.
What is the fee for funding my virtual card on Bitnob?
It costs $1 to top up your virtual dollar card with up to $100
It costs 1% to top up your card with any amount above $100.
How much is the maximum I can add to my card at a time?
The maximum top-up amount is $5,000.
Is there a maximum amount my card can hold per time?
Yes. Each card has an all-time hold amount of $50,000. This means your card cannot have more than a $50,000 balance at a time.
Is there a Card maintenance fee for my virtual dollar card on Bitnob?
No, there is no maintenance fee attached to your virtual dollar card.
What other fee do I need to pay for the card?
Our virtual cards are denominated in United States Dollars (USD). This explains why a Cross Border(FX) Fee is charged when payments are made in currencies other than the USD.
The fee is 3% and $0.5 per transaction.
Why am I paying a Cross Border Fee if the card is denominated in United States Dollars?
Kindly note that a payment can be to a US company and be in USD, yet incur Cross Border (FX) Fees. This is because the company likely settles the payment outside of the US and eventually moves it back to the US.
For this, they charge us a Cross Border(FX) Fee. As a company, we have no control over this and in cases like this, we only charge, if we are charged.
An example is with Facebook Ad payments. While Facebook is a US company and payment is charged in USD, based on the reason above, they still sometimes charge Cross Border (FX) Fees.
Is there a limit for withdrawal on the card?
Yes. You need to leave at least $1 on your card when initiating a withdrawal to keep your card active.
How long does a card withdrawal take?
Card withdrawals take a maximum of 24 hours to be successfully processed.
How long does card termination take?
Card termination takes 5 - 10 minutes to be successfully processed. Kindly note that this process may take longer than the timeframe provided especially if the card has authorised payments that are pending deduction.
Why is a Minimum Balance needed on my card?
A minimum balance of $1 is needed to keep your card active.
To take your balance to 0, you will need to terminate the card. Note that doing this means you will be charged afresh when creating a new card.
In addition, you can only terminate a maximum of 5 cards, after which you would be unable to create a new card automatically.
Therefore, if you plan to keep using your card for payments, you must keep the card active with a minimum balance.
What happens if my card declines due to insufficient funds?
If your card declines 4 consecutive times due to insufficient funds, you will be charged a $1 penalty fee and your card will be terminated. We advise that you ensure you have enough funds when making a purchase or set a reminder for recurring purchases.
Kindly check out the article below for more information on card termination
How many cards can I create?
You can only create and own 1 card at a time. However, you can only terminate and create 5 cards in your lifeline.
As a general note, if you are experiencing any error using the card, kindly change your billing address to the address in your card details.
To learn how to create a virtual card on Bitnob, tap on this link.