Visa Electron - The future of payments
- Using the Visa Card
- Spending limits and fees with Visa Electron
- Account status, currencies
- Security, managment, support
Visa Electron has come to be a very widespread debit card, provided by Visa International Service Association. In contrast to Visa credit cards, which grant the card holder a line of credit, debit cards charge the account balance of the owner directly, similar to bank cards. If the balance on the Visa account is temporarily exhausted, then it also won’t be possible to use the card for the time being.
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Specifying a bank account or bank details is not necessary to receive a Visa Electron card. The Visa Electron card has, following a few small improvements (automatic monthly sales information, the possibility of cancelling a card in the case of loss/theft), been renamed the Visa Electron prepaid card. Prepaid cards have a specified balance at their disposable. With the prepaid card it’s not only possible to make cashless payments at over 10 million accepted locations worldwide, but it can also be used at over one million automated teller machines (ATMs) worldwide to withdraw cash.
Visa Electron trading partners (whether in-store or online) deduct the amount due over online credit card terminals, which rates as a very secure method of payment. The payment authorization from the card holder takes place either with his or her signature or by entering his or her PIN code. During each transaction, the balance of the card holder is checked directly by the issuing bank, so that the prepaid account will not be overdrawn. If the balance is used up, it can be recharged as often as desired. The prepaid account balance can be recharged either by a direct deposit at the bank or by a bank transfer – for example, in the case of a winnings payout at one of many virtual bookmakers. The individual account data required for a bank transfer (account number and bank code) are found on the back side of the Visa Electron Prepaid card. The first deposit onto the Visa Electron Prepaid card account must amount to at least € 100, but may also not be higher than € 10,000. For subsequent recharges, at least € 20 must be deposited / transferred, while, as before, the amount is limited to € 10,000. Following a direct deposit onto the Visa Electron Prepaid account, the money is available immediately, but also after bank transfers it is made available in a short time.
Since Visa Electron card holders don’t have any annual fees, 1.5% of each recharge of the Visa Electron prepaid account is deducted. Within the EU (transactions in Euros) a fee of € 0.29 is charged for every purchase and cash withdrawal. Those who make purchases outside of the European Union (or in a foreign currency) must pay a commission of 1% plus € 1 and for international cash withdrawals, 1.5% (€ 3 minimum) of the amount is deducted. After initially charging the Visa Electron prepaid card, a one-time fee of € 20 will be charged, which is refunded following the conclusion of the contract. The standard limits are set at a maximum of € 2,000/day or € 2,000/week. Cash withdrawals are limited to € 700/day or € 2,000/week.
Following every transaction (at most once a month), the card holder receives a card statement in Euros either by mail or email. Additionally, all Visa Electron card holders have the ability to find out their current balance over the “online balance query” on the Visa Electron website. Despite the successful, worldwide circulation of the Visa Electron prepaid card, it is still only available in Euros. The best thing about this credit card? Over 10 million accepted locations worldwide are immediately recognizable thanks to the Visa Electron logo. Visa Electron is accepted as a method of payment at various online gaming providers such as PokerStars. If you sign up with one of the recommendet casinos or bookmakers (table above) via one of our links, you will be entitled to a special welcome bonus.
In contrast to other prepaid cards, the balance of the Visa Electron prepaid card is not directly saved on the card, rather on a Visa Electron balance account. In case the card is lost or stolen, the account can be cancelled quickly and the balance will not be lost. To enhance security for their customers, Visa has introduced Verified by Visa, a password protected service that checks the identity of card holders during online transactions. The password chosen by the card holder equates to a signature during an in-store purchase and confirms the customer’s identity. During online purchases, customers are also requested only to enter personal details over SSL encrypted connections.
Visa is a collective made up of banks and savings and loan associations. The global network, Visa Inc., is not responsible for the distribution of Visa Electron cards in Europe. As is the case with Visa credit cards, Visa Electron cards are issued by individual banks. In the United Kingdom, at least 45 banks are licensed to issue Visa cards. Among them are the Bank of Scotland, Barclays Bank, Capital One, Halifax, HSBC, the Royal Bank of Scotland, as well as the Wesleyan Savings Bank. A complete listing of all Visa-licensed banks in the United Kingdom can be found on the Visa homepage. In Ireland, Visa cards may be obtained at the AIB Group, First Active, ICS Building Society, MBNA, and Tesco Personal Finance.
Particular questions or problems with Visa Electron cards should be directed to the card issuing bank.
Additionally, a service number is found on the monthly bill.
Australia: 1800 125 440
Austria: 01 7111 1770 Fax: 01 7111 1559
Canada: 1800 847 2911
Germany: 0800 811 8440
Ireland: 0800 55 8002
New Zealand: 0800 44 3019
Switzerland: 0800 89 4732
United Kingdom: 080 089 1725
United States: 1800 847 2911
General enquiries: +44 (0)20 7795 5777
- Email: firstname.lastname@example.org
- Contact address:
Visa Europe Services Inc.
Represented by the Board of Directors
1 Sheldon Square, London W2 6TT