What is the Virtual Card?
The Virtual Card issued by Parex bank is a prepaid credit card for Internet shopping ensuring high security standards. The Virtual Card's number is separated within special card group eliminating the fraud risk for your everyday-use card account where the major portion of your funds is located.
What are the major features of this card?
This card really is virtual - no plastic. The customer has card's number and expiry date only. Prepaid Internet shopping credit card could be used for buying goods and services in Internet shops and catalogs.
Where can I shop online?
You can shop online at most merchants who accept MasterCardŽ or VISAŽ (depending on the brand you choose). It can't be used at traditional "bricks and mortar" merchants or for withdrawing the cash at ATMs.
What about fraud and theft?
Your card is essentially the same as cash, so you should treat it that way. Keep on your card account only the funds you are planning to spend shortly. Guard your Virtual card information associated with your card. If you lost your number or believe it's been stolen you should contact the bank immediately.
How does it work when I need to return merchandise?
You will of course return it to the online merchant who you bought it from. The merchant should credit the amount of your return to your card account.
How can I check my card's balance?
There is the secure website on the Internet that allows cardholders to check their card balances and statements using the login name and password. Also you can call the bank by phone.
How much is the issuing/renewal fee?
Annual / renewal fee is USD 25.
How much I am charged when shopping?
When you pay for the goods or services on the Internet - the 1% purchase fee is applied.
How can I fund my Virtual Card?
You can fund your card by international SWIFT transfer (wire transfer or telegraphic transfer) as well as by sending check to the bank.