 How
secure is my money with Global Visa Electron Card?
Is
Global Visa Electron Card better than using cheques?
How
is Global Visa Electron Card better than using a bank card?
Where
can I get a card?
Where
can I use my card?
How many cards can I purchase?
Can my card be used for purchases on the internet?
Can
I use my Global Visa Electron Card like a credit card before I add
money to the card?
Do
I need a good credit record to get a card?
How
do I add money to my card?
Is
my money protected if my card is lost or stolen?
If
I give a Global Visa Electron Card as a gift, can the recipient
replace the card if it is lost or stolen card or do I have
to do that?
What
happens if I forget my Personal Identification Number (PIN)?
Are
there any transaction fees?
How
is the currency exchange rate calculated when the card is
used outside of my Country?
Can
I find out how much money is in my Global Visa Electron Card account?
Or do I have to keep track of that myself?
I'm
looking at this on a friend's computer and I don't have one
of my own. Do I need a computer to use a Global Visa Electron Card?
How
much does it cost to get a Global Visa Electron Card?
Are
there any limits to how much money I can store or spend on my card?
Is
there someone who I can talk to if I am having a problem?
Why
should I trust Global Visa Electron Card?
I
used a Global Visa Electron Card to transfer money to relatives
back home. When I want to send more money to them, can I add
money to the same card or do I have to get a new card?
Answers:
What is a Global Visa Electron Card?
Global Visa Electron Card offers what is known as "stored
value" card. Quite simply, that means that you store
money and access it by using your card worldwide at a bank
machine (ATM, review locations here) or by using it like a
bank debit card to make purchases
What name will be printed
on the card?
There is no individual name printed on it.
Is the Global Visa Electron Card an anonymous card?
Although no name appears on the card and ATM transactions worldwide are totally anonymous, this is not a so called “anonymous” card. Every card has to be issued and registered under the name of a real person which is in accordance with card asssociation regulations which also requires all issuing banks to verify ID. The only way any card could be anonymous is if arrangements are made for a “master account holder” to issue subsidiary cards off that same account. In that event, any funds placed into that account would not in reality be under the control of such a card holder but under the control of the person that holds the account. Obviously this is a very risky proposition as your funds are controlled by another party.
Does your Global Visa Electron Card expire?
Two years from the date of issuance.
Who can apply for a Global Visa Electron Card?
Anyone can apply regardless of his or her nationality, country
of residence, credit history or status.
Are there different types
of cards?
Yes and no. All cards function in basically the same way, but they can be put to a number of different uses. Your employer can use a Sovereign Gold Card as a more convenient and less costly way to pay you. You can send a card to someone as a gift. You can use a card to transfer money to relatives overseas or to a child away at college. An insurance company can use cards to pay claims. In short, the possible uses are virtually endless.
How secure is my money with Global Visa Electron Card?
Global Visa Electron Card is more secure than a bank card. Like
a bank card, nobody can get at your cash without your Personal
Identification Number (PIN). What's more, unlike a bank card,
the maximum risk that you face is the amount of money stored
on the card. With a normal bank card, someone who steals both
your card and PIN may be able to clean out your entire bank
account.
When it comes to the question of security, the term "stored value" may be a little misleading. The money is not actually stored on the card but in an account with the issuing bank that is part of the card. Therefore the funds on your card are on deposit under your sole control with a substantial sized European bank.
In reality the funds on your card are on deposit under the cardholder’s sole control with a major international non-U.S. bank.
Your PIN is not stored anywhere on your card, not even on
the magnetic stripe. The information on the stripe merely
identifies you so that our systems can compare the PIN that
you enter to the one that is stored in our secure computers.
That way, a thief who steals your card cannot learn your PIN
even with a magnetic card reader.
Because your PIN is so critical to the security of your
card, it is important that you protect it. Be sure that nobody
is looking over your shoulder when you enter your PIN. Even
if you aren't aware of anyone watching you, it is still a
good idea to shield the keys of the ATM with your other hand
when you enter your PIN.
How is Global Visa Electron Card better than cash?
There are lots of ways that Global Visa Electron Card beats cash.
To name just three:
1. Global Visa Electron Card is more secure than cash. If cash
is lost or stolen it is likely gone forever. If your Global Visa Electron Card is lost or stolen, it can be replaced. No one can
get at your money unless they also have your PIN. (We recommend
that you do not write down your PIN or, if you do write it
down, never keep it in the same place as your card.)
2. A Global Visa Electron Card is a global cash and debit card.
When you use cash, you usually have to exchange your money
for local currency when you travel out of the country, which
can be a costly and time-consuming inconvenience. With Global Visa Electron Card, you can use your card at any worldwide ATM. All
cash withdrawals are automatically in the local currency.
3. You can safely send a Global Visa Electron Card in the mail.
The post office and courier companies tell you not to use
their services to send cash. In the past, if you wanted to
send money to friends or relatives across the country or overseas
the only alternative was expensive wire services and payment
companies like Western Union. Now, you can easily send a Global Visa Electron Card to them in the mail. It is secure because no one
can access the cash on the card unless they also have the
PIN. (NEVER send a card and its PIN at the same time and wait
until your recipient has received the card before loading
it).
Is Global Visa Electron Card better than using cheques?
1. Cash stored on a Global Visa Electron Card is available immediately.
If you send a cheque as a gift or to transfer money to relatives
"back home", the recipient's bank usually puts the
money on hold for at least a few days, and often a few weeks,
until the cheque "clears". The wait can be particularly
long when sending money out of the country. With a Global Visa Electron Card, you can tell the recipient the PIN over the phone.
Then, as soon as the card arrives, the recipient can use it
immediately at an ATM.
2. Cards can be refilled quickly and easily. When you use
a cheque to send gifts or transfer money, or if you want to
send another gift or transfer more cash to the same person,
the recipient has to wait for the cheque to arrive and the
bank to clear it. With a Global Visa Electron Card you just add
more cash to the same card. The recipient then has immediate
access to the cash -- the second and subsequent times of course,
they don't even have to wait for the card to arrive.
How is Global Visa Electron Card better than using a bank card?
1. Global Visa Electron Card can be used to send gifts or transfer
money. Since an ordinary bank card and PIN gives the holder
access to your full bank account, they are not a good way
to send a gift or transfer money to others. A Global Visa Electron Card gives a recipient access to only as much money as you
add to the card -- not your whole bank account.
2. Global Visa Electron Cards are more secure. Because a Global Visa Electron Card is not tied to your bank account, in the very worst
case, if someone steals both your card and PIN, the most that
the thief can get is the money that remains on your card.
With a bank card, they may be able to drain your entire account.
Where can I get a card?
You can purchase a card online by clicking here.
Where can I use my card?
It can be used at any ATM machine displaying the Visa or Visa Electron logos. Worldwide there many millions of such ATM locations. Click here for a list of ATM locations. In addition the card can be used at any electronic point-of-sale displaying the Visa or Visa Electron logo as well as plus can be used like a credit card for all internet, mail and telephone order transactions.
How many cards can I purchase?
A maximum of 2 cards can be applied for and activated under the same name.
Can my card be used for purchases on the internet?
Yes, since the 3 digit CCV security code is on the back.
Can I use my Global Visa Electron Card like a credit card before I add money
to the card?
No. A Global Visa Electron Card is what is known as a "stored
value" card. This means that you must first add money
to the card and then spend or withdraw that money from it.
You cannot use the card to spend more than the amount of money
that is stored on it.
Do I need a good credit
record to get a card?
No. Since you cannot spend more money than you have added
to the card, the card issuer does not assume any risk and,
therefore, is not concerned with your credit rating.
There is one exception. Companies that make small loans may
use a Global Visa Electron Card as a more secure and convenient
way to provide you with cash. In this case, a credit check
may be required, but it is a credit check for the loan, not
the card.
How do I add money to my
card?
You can transfer money to your card over the Internet or
at your bank. Please see the methods below:
- EUR or USD cheques
- ACH payment between Panama banks
- International Bank Transfer (Wire, Swift, etc.)
- Western Union
- Moneygram
- Directly from your bank account to the card (certain participating banks only).
Is my money protected if
my card is lost or stolen?
Yes. Nobody can get at your money without your PIN. If your
card is lost or stolen, it can be replaced once we verify
that you are the authorized cardholder.
If I give a Global Visa Electron Card as a gift, can the recipient replace
the card if it is lost or stolen card or do I have to do that?
Yes. The cardholder is a known account holder because the
card is in their name. Cardholders can simply contact Global Visa Electron Card directly and we'll replace the card as soon as possible.
What happens if I forget
my Personal Identification Number (PIN)?
If you have lost or forgotten your PIN number you cannot
get a new one or reset the PIN in any way. If you have made
3 or more attempts at an ATM the system will automatically
lock your card and disable use for 24 hours.
You can go back to any ATM after the 24 hour lock down period
and try again. If you have in fact forgotten or lost your
PIN number you must replace your card.
Are there any transaction
fees?
Yes, but depending on the purpose of the card, the issuer
may decide to absorb that cost as part of its service. For
example, an employer that uses Global Visa Electron Card to pay
its employees may cover the cost of the cards rather than
passing the cost along to its employees. View
transaction fees.
How is the currency exchange
rate calculated when the card is used outside of my Country?
Foreign banks usually send us withdrawals in their local
currency. If that is different than the currency of your account
we will apply a competitive exchange rate to convert it to
your card's currency at the bank’s exchange rate free
of any surcharges that are imposed by credit card companies
on their credit cards.
Can I find out how much
money is in my Global Visa Electron Card account? Or do I have to keep track of that myself?
You can see your card's balance, along with any transactions
applied to your card, on the secure Global Visa Electron Card Web
site.
I'm looking at this on a
friend's computer and I don't have one of my own. Do I need
a computer to use a Global Visa Electron Card?
No. You don't need your own computer to have a Global Visa Electron Card. You can use the card just like any other bank debit
card. You can use any computer equipped with a current web
browser and internet connectivity to monitor your card activity.
How much does it cost to
get a Global Visa Electron Card?
Click here to view our fees.
Are there any limits to
how much money I can store or spend on my card?
Each card may be loaded with up to EUR 80,000 per annum. There are no other daily, weekly or monthly load limits. You are limited to how much you can withdraw. These limits are set by each ATM you use but multiple withdrawals could allow you to draw out at an ATM or spend at a merchant point-of-sale as much as EUR 3,000 per day.
Is there someone who I can
talk to if I am having a problem?
Yes. Please visit the section "Contact Us" or click on the Live Chat tab to see if a customer service can assist immediately.
Why should I trust Global Visa Electron Card?
The security of your money is of utmost importance at Sovereign Gold Card. The issuing bank takes great care to protect it, such as using the highest publicly available level of security on their Web site.
I used a Global Visa Electron Card to transfer money to relatives back
home. When I want to send more money to them, can I add money
to the same card or do I have to get a new card?
Yes. You can simply add more money to the same card. They
will then have instant access to the cash.
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