Like people can use a physical card to transfer money to another account, it is also possible to do the same with a virtual card. Yet the question remains how to transfer money from a virtual card? There are quite a few steps that we would guide you on to ensure a successful attempt at money transfer using a virtual card.
Suggested read: Find Out How to Transfer Money from Direct Express to Cash App?
How to transfer money from a virtual card?
Follow the steps given below to transfer money from a virtual card:
1. Find a suitable platform: The first step is to find a service provider or platform that accepts virtual card payments and also allows money transfers. The options include online payment systems, digital wallets, and peer-to-peer payment applications. Some popular platforms are Venmo, PayPal, Skrill, and Cash App.
2. Create an account: Sign up with your chosen platform if you do not already have an account with them. Log in and provide the required information. You may need to enter your details like name, email address, etc. There might be additional verification steps that you need to complete if required.
3. Link the virtual card: As soon as the account is set up, search for the option to add or link a payment method. Choose your virtual card as your payment source. Then as per the prompts fill in the information. They would ask for details such as the name of the account holder, card number, CVV, expiration date, and billing address.
4. Verify the card: To prove that you are the actual owner of the card, you may need to verify the same. It also depends on the platform you use. Some platforms may not ask you to verify the card. This is done generally by charging a small authorization fee.
Watch this YouTube video:
The platform can also verify the card by sending an OTP or unique code to the associated email address, phone number, or billing statement of the card. Follow the process as specified by the platform to complete the verification process.
5. Transfer money: Now that the virtual card is linked and verified, you can initiate a money transfer. Feed in the details of the recipient like the mobile number, email address, amount to be transferred, note if any, etc.
6. Confirm and complete the transfer: Verify if required the recipient information, the amount, any applicable fees, etc. Review everything once again before finalizing the transfer. Confirm the transaction once you have double-checked and are satisfied to initiate the transfer process.
Also read: Learn How to Transfer Money from Apple Pay to Cash App in 2023
7. Check the transfer status: Look out for notifications or keep an eye on the platform to track the progress of the transaction. You would be kept notified about the transfer status and confirmation of receipt by the service provider.
8. Check with the recipient: Last, but not least, check with the recipient whether or not they have received the funds in their account. Many a time even after a confirmation from the money transfer platform, the recipient fails to receive payment. Thus, it is very important to check with the recipient for complete assurance of an effective money transfer.
Check out this YouTube video:
The options and steps may vary depending on the platform you use. Always follow the instructions given by the payment transfer platform to ensure success. If you have any further questions about how to transfer money from a virtual card ask us in the comment section below. Share this article with others if you found it useful.
