As the name implies, a virtual card is not a physical card that you can hold with your bare hands. Virtual cards are made up of numbers and information exactly as it is on a real debit/credit card. The GTBank virtual card was created to protect online shoppers from online frauds. This is another First-In-Nigeria from GTBank.
While shopping online, you only need to type in your card number, CVV, name of card and expiry date right? The GTBank virtual card comes with all this information. The card can be used to shop on any website where MasterCard is accepted.
How does it work?
When a customer requests for the virtual card, the request is granted immediately. The customer will be sent a 16 digits card number, a card holder name (your name), a card expiry date and a CVV code. These are the exact information required to buy things online. When this virtual card details are provided on any shopping website, the card will be debited instantly.
You can fund this card with the money in your GTBank account through internet banking.
Benefits of the GTBank Virtual Card
This card comes with a lot of benefits for online shoppers. Below are some of the benefits you cannot just ignore;
- The virtual MasterCard card can be used on any website that accepts MasterCard.
- You can apply for it and get it instantly.
- It protects the customer from online fraud. That’s because you can decide to only load funds into it when you want to shop online. If a hacker has access to it (a rare case scenario); the hacker only has access to the money in the card and not your real bank account.
- The Virtual card is valid for two years.
- Customers can transfer money seamlessly into it at any time of the day.
- It can be converted into a physical debit card on request.
- The card cannot be stolen as far as the information is kept hidden.
Transaction Limits on the GTBank Virtual Card
Just like a real debit card, this card comes with transaction limits. The transaction limits as the time of publishing can be seen below;
- The card cannot be funded with more than 100,000 Naira daily.
- A maximum card balance of 250,000 Naira.
- Local Web transactions to a tune of 250,000 Naira.
- International Web transactions to a tune of 100$ monthly.
How to request for the Virtual Card
Customers can request for the virtual card through the GTBank internet banking platform.
- Log in to GTBank internet banking platform.
- Select cards at the left-hand side of the dashboard. Click on “Virtual Card Request”.
- Click on new request to initiate the process.
- Customers will be charged 525 Naira for the virtual card. Select the account to be debited for the charges and select the card to be linked to the card. When you link your account to the card; the card will only be funded from the account you linked it with.
- Click on the “Account to Link” and agree to the Terms and conditions by clicking the appropriate check boxes.
- Answer your secrete question and click on the continue button to proceed.
- A confirmation button is shown on the screen.
- Press your hardware token to generate a six digit code. Enter the code in the space provided and submit.
- Once the request is successful, you will see the details of the virtual prepaid card on the screen; the details contain the card number, CVV code, expiry date and activation code.
Finally, anytime you want to view the card details, click view card details and enter your GTBank hardware toke code.
How to convert the Virtual Card to Physical Card
In addition, if you want to convert the virtual card to a physical card, you can do that with the steps herein;
- Click on Covert to Physical card as it is shown at the right hand side.
- You will be charged to convert this card into physical card. Select the card to be debited.
- Select a preferred pickup branch; a place where you can go to collect your ATM card.
- Answer your secrete question and click on the continue button.
- A notification showing that the transaction was successful will be displayed on the screen.
Immediately this is done, the card is no longer on your internet banking dashboard as a virtual card.
Have you used the GTBank virtual card to shop online before? You can share your experience with us.