Are you in search of an instant virtual debit card in Australia? It is actually no doubt because Australia is a great country with amazing cultures and probably the most interesting area in the Oceania. This country has been rated as an amazing place to be by many foreigners and expats who have travelled to the country.
Aside from its cultures and topography, Australia makes it simple for you to manage finances within the territory. It is quite simple for a foreigner or expat to open a bank account in the country as a non resident, therefore making it easy to get bank cards in the country to withdraw cash and eases financial managements.
Even though most of the banks in Australia offer the greater part of financial services, there are only a few that offer virtual debit cards.
Some of the best financial institutions such as Revolut, Wise, are registered in Australia and are authorized to carry out virtual activities within the territory. This means that you can make use of the virtual card providers to obtain an instant virtual debit card in Australia.
So with that said, I have compiled the best instant virtual debit card providers in Australia which will help you get and instant virtual card in the country so as to ease your transactions and purchases within and outside Australia.
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What is a Virtual Debit Card and How Does it Work?
A virtual debit card is also referred to as a digital debit card bank that operates in the same way as a physical debit card but differ in appearance. A virtual card as the name implies, it is in a digital form and can be accessed only by mobile devices while a physical card is a plastic card which you can move along with.
You can use a virtual debit card for secure online transactions since it lets you control the way your card spends and keeps your real card info safe from the hands of malicious sites.
You get full control over a virtual card since you can freeze, or delete the card incase you think it has been accessed by an unauthorized user even without you visiting the bank branch.
Best Instant Virtual Debit Card Providers in Australia
There are several card providers in Australia but there are just are few that are international virtual debit card providers in the country. The importance of obtaining an international virtual debit card in Australia is to allow you easily spend cash in various currencies other than the Australian Dollar (AUD).
Below are some of the best instant virtual debit card providers you will find in Australia.
1. Revolut Instant Virtual Debit Card in Australia
Revolut ia actually one of the best if not the best instant virtual debit card provider in Australia. It does not only focus in Australia since it is a London based digital bank. It is also one of the best providers that offer instant virtual debit card in just a few minutes.
Revolut has been rated for its top class virtual banking services as it allows your hold digital banks in most European nations and with a virtual debit card linked to it to ease your spending online.
Revolut was fully launched in Australia not long ago in the year 2020 and they have an Australian Financial Services License under a different bank, and are regulated by the Australian Securities and Investment Commisision (ASIC). Australians are able to obtain the most out of Revolut's services including the Virtual debit cards.
Below is how to order and obtain an instant Virtual debit card on Revolut:
- Move to the "Cards" tab in the app
- Choose "Add Card"
- Choose "Virtual debit card" and complete your order.
Once you this correctly, the virtual card will appear instantly in your account and you can immediately start using the card for online purchases without any more activation. It is necessary you know that you will not receive any physical copy of this card since it is a virtual card.
In order to see the details of the virtual card, (CVV, Card number, expiration date), you will first of all need to find the card in the "Card" section and then click on the "eye" icon visible in the upper left corner of the card. Select whether you want to copy the map or view the details. You will have to authorize this action by providing the password to the application.
2. Wise Instant Virtual Debit Card in Australia
Formally referred to as Transferwise, Wise borderless stands as one of the best options you have to get and instant virtual debit card in Australia. Once you get a Wise borderless account, you will get a virtual debit card linked to it which you can use for multi-currency transactions worldwide. With Wise, you are also offered a physical debit card which you can use to withdraw money from ATMs around the world including Australia.
Wise offers a virtual debit card called the "Wise digital card" which allows you spend online, in e-shops and abroad while saving extra money that would have been deducted for currency conversion.
Similar to Revolut, Wise is a London based financial technology company that has been providing banking solutions to residents of UK and countries found in EU and EEA.
Since Wise offers its customers with Multicurrency account, it is great for expats and foreigners travelling to Australia to easy access their funds online and withdraw at the Australia local banks without any problem.
International banking becomes very easy with a Wise borderless debit card and it is great for non residents of Australia to get banking solutions within the territory.
You should consider checking out the best bank account with instant virtual debit card providers.
Benefits of Using Virtual Debit Cards
There are several advantages that comes with using virtual debit cards and this makes them more convenient to use at any online merchant or store. They let you manage subscriptions, set spending limits and much more.
Find out below some of the major advantages that comes with using virtual debit cards.
It is of no doubt that virtual cards are convenient to use than physical cards. You can easily make quick payments directly from your phone without having to use your local bank card. With virtual card, you will never find yourself searching for a misplaced virtual debit card because it is in your phone unlike physical cards that can either be misplaced or even stolen.
2. Spending Controls
With Virtual card, you can set a spending limit to your card by limiting the amount you can spend monthly and thus it saves you extra money. This feature can be very important for companies who want to set a spending limit on a card for their employees to use the company's funds wisely. This also keeps your account safe in case it gets into the hands of hackers or phishing sites.
3. Subscription Management
Several virtual card providers like Revolut, Privacy.com and many more let you manage your subscriptions for each service. You are able to block your card from being charged after a free trial and this helps you safe extra cash. This also helps you keep your card safe from the hands of companies that supercharge customers.
ALSO READ: How To Cancel Subscriptions On Cash App?
4. Fraud Protection
With virtual cards, your personal information is kept safe and private during your transactions online. Virtual debit cards tokenizes the transaction data, encrypting your account numbers and creating a randomized sequence or token that will be used for one time payments. This sequence is repeated for all other transactions, so as to keep your personally Identifiable information (PII) safe and secure.
How to Get an Instant Virtual Debit Card in Australia
Now that you already know the best instant virtual debit card providers in Australia, you will now have to make a choice that best matches your need. However, it is necessary you pick one that works for your current status. In case you are a resident, you should choose the best digital banks in Australia if they do offer digital bank cards or better still, you can use Revolut if you are an expat or a non resident, then pick the best virtual debit card providers for foreigners such as Revolut or Wise.
How to Get an Instant Virtual Debit Card in Australia as a Resident
- Go to Revolut or any digital bank
- Gather the paperwork needed to get a virtual card
- In Revolut, order for a card or simply apply for a card from the digital bank
- Your virtual debit card will then apply instantly in your account dashboard.
How to Get and Instant Virtual Debit Card in Australia as a Non Resident or Expat
- Go to Revolut or Wise
- Signup for an account and verify the account
- Go to the "Cards" section
- Select Virtual card
- Order One
- You will get your virtual card instantly in your account dashboard and you can start spending.
Final Thoughts on Instant Virtual Debit Cards in Australia
The Australian banking system makes it easy for foreigners, non-residents and expats to open a bank account without encountering any problem in the nation. However, it is good you know that not all these banks offer virtual debit cards and some few online banks do offer this service.
You have Revolut and Wise which are both London based companies that provide virtual debit cards that are accepted and used in Australia.
Above in this article I have outline the best Instant Virtual Debit card providers in Australia, hope you found this article helpful? lets us know in the comment section.
Frequently Asked Questions
What banks give you an instant virtual card Australia?
In Australia, providers offering virtual credit cards include Bankwest, Bendigo Bank, Latitude Financial Services, MoneyMe and Westpac.
Which bank gives virtual debit card instantly?
Some notable examples of banks offering virtual cards are HDFC, SBI, SBI, ICICI, and many others.