November 22, 2019
In a world where data breaches are all too common, using a Virtual Account can help protect you from fraudulent charges when you shop online or by phone. If you’re familiar with digital wallets, Virtual Accounts are similar in that they use a digital account number. However, they provide an added level of protection because a Virtual Account is temporary and doesn’t use your main Netspend Card Account number. In fact, not only is the 16-digit card number different, so is the expiration date and 3-digit security code.
What is a Virtual Account?
It’s a unique, Virtual Account number that’s linked to your main Netspend Prepaid Card Account. Because of that, Virtual Accounts are perfect for online and phone transactions when you’d prefer not to use your prepaid card number.
How to Use a Virtual Account
Virtual accounts are great to use when signing up for free trials that require a card. After the free trial expires, the company offering it will begin charging your card unless you remember to cancel. But if you use a Virtual Account number when you sign up, you can immediately cancel the Virtual Account number without the company knowing or it affecting your regular Card Account, then you won’t have to worry about being charged once the free trial ends.
The OAC will allow you to generate up to six Virtual Account numbers at a time.
Why Use a Virtual Account
The main benefit is that a Virtual Account should give you some peace of mind when making purchases online or over the phone. You can even specify a spending limit or that the account number can only be used at a single merchant. If for some reason it ever gets compromised, you can delete or lock it in the OAC and continue using your main Netspend card.
The Bottom Line
If you’re worried about using an unsecure website or having your account information exposed due to fraud or a security breach, then Virtual Accounts will give you that extra level of protection you’re looking for.