A virtual card is the digital version of your physical one, including your prepaid, credit, or debit cards. Usually, you can request your card issuer for a virtual card that you can use to purchase things online. Therefore, virtual cards are limited to online purchases on websites or online stores that accepts credit cards.
In most instances, it is common to require an existing bank account or physical card to receive virtual Visa cards.
Aside from making online payments, you can use virtual credit cards to transfer funds and get cash from virtual visa cards. Also, you can get money from your digital wallets, such as Cash App, Venmo, and PayPal, through your virtual card. Some virtual card providers allow users to withdraw money from ATMs using their virtual card numbers.
Therefore, virtual Visa cards offer easy and convenient cash transfers while ensuring fraud prevention for the cardholder.
Key Takeaways
· It is possible to withdraw money to your bank account while using a virtual credit card
· Also, you can get money from your virtual card by using your mobile wallet, such as PayPal
· Some virtual cards allow users to withdraw money from ATMs by using cardless ATMs
How to Withdraw Money from a Virtual Card to a Bank Account
You need an existing bank account to withdraw money from your virtual debit card to your bank account. However, a virtual credit card works differently from a debit one when withdrawing money from the card to a bank account. Some virtual credit card providers offer virtual cards without requiring credit checks or bank accounts.
For such cards, you will need to use a third party, such as a digital wallet, for money transfers.
Alternatively, you can link your virtual debit card to another physical card account with a physical means of withdrawal. Hence, use the steps below to transfer funds from any of your virtual credit cards to an existing bank account:
(i) Log in to your mobile banking account
(ii) Follow the authentication protocol if necessary
(iii) Then, navigate to the Settings menu
(iv) Select the Transfer option and select the bank account number and routing number of the account of the other account
(v) Enter your bank account number and the money you want to transfer from your virtual card
(vi) Select the Next button
(vii) Fill in the authentication details, if necessary, and enter the OTP code generated by the mobile banking app
(viii) Click the Confirm button to finish the money transfer
Thus, you can now withdraw money from the bank account you send money to using a physical card. The whole transfer process may take up to two business days before you can withdraw the money from the new account. In case of further issues, you can call your bank for further assistance in transferring funds to the new account.
How to Withdraw Money from a Virtual Card to PayPal
You can use your virtual card to withdraw funds directly from the card to your PayPal wallet. Digital wallets such as Google Pay and Apple Pay allow you to add your virtual card numbers to the account. Before making any transfers, check whether your PayPal account accepts your current virtual card for compatibility reasons.
Once you link your virtual card, you can have an instant transfer option to transfer your funds directly to the e-wallet and use it to purchase things.
If you are wondering, “how can I get cash from my virtual Visa card” then using your PayPal is the best option. Therefore, you can use the following steps to transfer money from your virtual card to your PayPal account:
(i) Log into your PayPal account and click on the Profile option on your homepage, and select Update Card
(ii) Select the Add a Card option, then click on Debit and Credit Cards to link your Visa virtual card
(iii) Select the Choose Card option from the drop-down menu
(iv) Choose the Visa option and add your card information to link the card
(v) Enter a new billing address of your card to match the one on your PayPal account
(vi) Enter the necessary information after filling in the billing address
(vii) Click the Add Card button to finalize the process
(viii) Go back to your PayPal account homepage to verify the new card
(ix) Select the Profile option from the homepage and select My Money from the menu
(x) From the financial products, select My Profile to check the virtual card you have just added
(xi) Choose the Update option and select the Confirm My Card option
(xii) Select Continue or select the Link and Confirm My Card option
(xiii) Select Save and Continue to finalize the process
(xiv) PayPal will send you an activation fee and a four-digit code
(xv) Go to the homepage and select the Update option
(xvi) Select the Enter PayPal Code option and enter the code
(xvii) Select the Confirm Code option to finish the process
Therefore, you can withdraw money to your PayPal account, which ensures you have enough funds in your wallet. You can spend or transfer the money to your bank account through your PayPal wallet.
How to Withdraw Money from a Virtual Card to a Virtual Gift Card
A Visa gift card is a card that allows you to load funds to the card for payments, even in grocery stores. However, you cannot reload any more funds to the card once the funds are already spent. You can use the virtual Visa gift card across multiple online stores that accept Visa cards as payment. There are various Visa gift cards, including the vanilla Visa gift card, with more specifications for its use.
Another example is the Amazon gift card, that only works for purchasing goods on the Amazon website.
Purchasing a gift card using your virtual credit card is the most suitable way of getting money from a virtual credit card. Use the following steps to purchase a gift card using your virtual credit card:
(i) Go to the website of the gift card you would like to purchase
(ii) Select the type of gift card with the spending limit you desire
(iii) Then, go to the check-out section of the website
(iv) Select the payment method you require to use for making the payment
(v) In this case, select the Card option
(vi) Then, fill in the card details of your virtual credit card; thus, fill in your virtual card numbers
(vii) Include the amount you would like to transfer to your gift card to finalize the transaction
Alternative Methods of Getting Money from Your Virtual Card through Your Virtual Gift Card
You can link your virtual gift card to your digital wallets, such as Venmo and PayPal, to turn Visa gift cards to cash. Alternatively, you can exchange your gift card for money through a gift card exchange kiosk and get cash-back offers. After paying transaction fees, you can receive gift card deals that allow you to have more money from the card.
Your Visa gift card balance will improve or reduce the value of Visa gift cards. Check your card balance to maximize the money you receive before exchanging the Visa gift cards.
Others prefer selling their Visa gift cards for money through applications or merchants who buy the card depending on its worth. Thus, you can choose to directly exchange the gift card for money or transfer funds from your Visa gift cards. However, some applications or merchants will charge high commissions for your gift card.
Also, you can apply for a money order for your Visa gift cards online from some grocery stores like Walmart.
How to Withdraw Money from a Virtual Card at ATMs
Withdrawing money from ATMs only works with virtual debit cards since they link to your existing bank account. However, it will only work if the ATM allows cardless withdrawals, allowing users to use virtual card numbers. Virtual credit cards cannot allow users to withdraw money from an ATM because they lack a physical card.
You can transfer the money to your bank account through digital wallets before using a card to withdraw at an ATM.
Use the steps below to navigate how you can withdraw money from an ATM using a virtual card:
(i) Log in to your online banking account belonging to your virtual card
(ii) Follow the verification or authentication protocol, depending on the ATM you use
(iii) Go to the menu and select the Banking option
(iv) Select the Cardless Cash Withdrawal option
(v) Then, choose the Self Withdrawal option from the drop-down menu on your screen
(vi) Enter a four-pin code generated by the bank as per the instructions on your phone
(vii) The passcode may last for a few hours, depending on your bank, allowing you to make multiple ATM withdrawals
(viii) You can also scan the QR code found on the reader, allowing you to continue with the process
(ix) Choose Withdrawal as the transaction when the banking account accepts the PIN
(x) Enter the amount you wish to withdraw to finalize the transaction process
How to Get Cash from a Virtual Debit Card
A virtual Visa debit card is directly linked to an existing bank account; thus, you can withdraw money from your bank account. However, it is only possible if you use a bank account with a physical debit card to withdraw money. The virtual debit card offers fraud protection when using your virtual Visa card for shopping as you pay online.
Therefore, you can withdraw money from your bank account or a cardless ATM using your virtual debit card.
You can either link your digital wallet to your virtual debit card or transfer funds to another bank account. Use the following steps to learn how to get cash from your virtual debit card:
(i) Since your virtual card links to your bank account, go to your mobile banking account
(ii) Search for the Transfer option and fill in the account details, including your virtual card number
(iii) Then, add the account details of the bank account you wish to transfer your money
(iv) Enter the amount of money you wish to transfer
(v) Follow the verification process to finalize the process
(vi) Confirm the transfer and complete the transfer process
How to Get Money off a Visa Virtual Credit Card
Unlike many other virtual credit cards, Visa virtual credit cards allow users to reload money on the card. The card will then work as a prepaid card, which you can use across all online stores accepting Visa. You will need an existing credit card account to apply for a Visa virtual credit card.
Therefore, through third-party platforms, you can transfer funds from the virtual card to your bank account.
You cannot use a Visa virtual credit card to withdraw money from the ATM because you lack a physical card. Hence, you can only link your Visa virtual card to digital wallets such as PayPal and transfer your money. That way, you can transfer money to your bank account from the digital wallet.
Withdrawing money from a Visa virtual credit card works differently from other virtual credit cards, as shown in the steps above. If you are wondering how to get money off virtual prepaid card, linking it to your PayPal is the best way to go.
How to Get Money off a Virtual MasterCard Credit Card
Just like a Visa virtual credit card, a MasterCard virtual credit card has different ways of getting money off it. You can transfer money from your MasterCard virtual credit card to your bank account using third-party platforms. However, you cannot withdraw through the ATM using the card since you do not have a physical card or bank account.
If you have a MasterCard gift card, you can use your MoneyGram or PayPal account for bank account transfer.
Alternatively, you can place a money order for your virtual MasterCard credit card to get money. Postal money orders are certificates the bank issues that allow an individual to receive money on demand. Money orders work as checks, but you must pay for the certificate before the bank issues you.
Therefore, you can purchase a money order and endorse it to yourself, allowing you to transfer funds from your card.
There are significant differences between Visa and MasterCard virtual cards and how to withdraw money from them. MoneyGram is a third-party platform that allows only MasterCard users to transfer money using the application. You can access money orders for MasterCard virtual cards faster than for Visa virtual cards.
However, Visa virtual cards are more popular on online stores and websites than MasterCard virtual cards.
Conclusion
Many people now embrace virtual cards for day-to-day online transactions and shopping online. Aside from getting enough money from your digital card, you can also set spending limits on the card. Getting money from your virtual credit card may seem like an uphill task for many, but it is a simple process.
However, it is important to note the different places you can use or not use your virtual Visa card, including in store shops. Thus, you will know to navigate your funds from your virtual card to your bank account.
You can use your virtual debit cards in many ways to make contactless payments, including a virtual prepaid debit card. Although some steps differ from getting money from a virtual card or virtual prepaid cards, the process is not hard. Unlike a virtual credit card, you will need an existing bank account while withdrawing money from a virtual debit card.
Also, money orders are applicable for use, especially for virtual MasterCard credit cards.
FAQs
What information is required to withdraw money from a virtual credit card?
Knowing your virtual credit card type before making online payments and transactions is important. You will require third-party options, such as digital wallets, when you transfer money to your bank account. You cannot withdraw money from an ATM using a virtual credit card since it requires a physical card to work.
Money orders can work when you transfer money from a virtual MasterCard credit card. Ensure you use your virtual card number for making money transfers or an online payment.
What is the procedure for transferring money from a virtual credit card?
You cannot transfer money using a virtual credit card directly to your bank account. You must link your virtual credit card to your digital wallet and transfer the funds. You can follow these short steps to learn how to transfer your money from a virtual credit card:
(i) Open your PayPal account and navigate to the Add Card option
(ii) Follow the on-screen instructions and fill in the required information
(iii) Ensure you fill in your virtual card details, including the security code and expiry date
(iv) Verify the new card from the Profile option on the homepage
(v) Pay the activation fee to complete the process to link your virtual credit card to PayPal
How to withdraw money from your virtual card to your Venmo account.
Use the following short steps to transfer money from your virtual card to your Venmo account:
(i) Open the Venmo application and go to the Menu
(ii) Then, select the Settings option
(iii) Select the Preference option, then tap on Payment Methods
(iv) Then, choose the Add Bank or Card option and tap on Card
(v) Type in your virtual card’s information, including the expiry date and security code
(vi) Then, select Add to add your virtual credit card to your Venmo account
