Although many stores now accept virtual cards, cardholders are still concerned that they may need to transfer the funds to another location, like a bank account. Although these cards are extremely useful on their own, it is possible and simple to transfer money from virtual cards to bank accounts.
Because they protect user information better than a physical card, virtual cards are frequently used for online shopping abroad. If the need arises, you can use PayPal, Venmo, Cash App, etc. to transfer funds from the virtual card to a bank account. If doing so makes future purchases easier for you, the card can also be used to buy more gift cards.
To help with this transfer, you must learn how to use a third-party program like PayPal or Cash App. Please keep in mind, before we continue, that the simplest way to use the funds on your virtual card account is to make online purchases for you or another person and ask them to deposit the money into your bank account. Here, the remaining techniques are covered.
Can Money Be Transferred To A Bank Account From A Virtual Card?
As long as you know which third-party sites to utilize for this procedure, sending money from a virtual card to your bank account should be without any problems.
This transfer cannot be made directly, but you can utilize apps like PayPal or Venmo to do it.
Here, in order to prove your ownership, you must enter the card number, a security code, or the expiration date. Simply adhere to the instructions for the various plans I’ve covered below after sharing the necessary information to receive money in your bank account via a virtual card.
PayPal Virtual Card to Bank Account
The safest way to transfer money from a virtual card is using this method. However, you can only do this if your PayPal account has been validated.
- Go to your PayPal account and select “Wallets.”
- select “Add a Card” next.
- Give your card details, then click “Add Card” again.
- By following the instructions displayed on the screen, confirm the virtual card you have added.
- When you’re done entering the necessary data, tap “Update.”
- Then select Wallet > Send Money > Add Money To Balance > Card details > Confirm to transfer money from your virtual card to PayPal.
You should be familiar with the rest of the procedure once the money is in your PayPal account! How to transfer funds from a bank account to PayPal and vice versa has been covered. However, to summarise it for you, select Wallet > Connect a bank account Add Bank Information > Verify the data > Transfer funds Select Instant/Standard under Transfer method.
To Venmo, then to the bank, using a virtual card
Venmo also allows you to transfer money from a virtual card to a bank account.
- Start a Venmo account.
- Select “Add Gift Card.”
- Please enter your bank information along with the transfer amount.
- After that, click “Transfer” to start the procedure.
These transactions are frequently made using Venmo because it integrates effectively with linked bank accounts. In contrast, if you need to transfer money back onto the app for certain transactions, you may also use your bank account to Venmo yourself.
Transfer Funds From A Virtual Gift Card To A Cash App
Another platform that you may use to immediately transfer money from a virtual card to a bank account is Cash app.
Only virtual debit cards can be used for transfers using this method, while some virtual credit cards can also be linked to the Cash app in a similar way. Furthermore, keep in mind that you cannot transfer money from the cash app to a virtual card, whether it be a debit or credit card.
Other Methods Of Fund Transfer From Virtual Cards
Assuming you have a virtual debit card in your possession and want to transfer the funds on it to a bank account that is linked, you should:
- Open your virtual card’s app or official website.
- Use the card information or your password or username to log in.
- Select “Transfer” from the menu.
- Go through the confirmation screen and enter further details if necessary.
- After that, click “Confirm” to complete the transaction.
What Advantages Do Virtual Cards Offer?
A virtual card only exists digitally on your phone, as the name says. It does, however, have a card number and CVC to use for online and in-person purchases, much like traditional cards.
Virtual cards, often known as “disposable cards,” appear to be more practical than conventional ones for a variety of reasons, including:
- You don’t have to worry about losing virtual cards because they are safer than conventional physical cards.
- The cards also impose a limit on the amount per transaction or purchase. This is to limit the amount of money you could lose if the information were to end up in the wrong hands.
- Each transaction creates a one-time payment code that is useless once the transmission is complete since the data is encrypted.
- Additionally, there is no physical card information that hackers may obtain.
- It is possible to manage all of your online subscriptions using virtual cards.
- Through your official account, you can immediately cancel a purchase and keep an eye on your expenditure.
- Additionally, if necessary, the virtual cards can be quickly deactivated or unsubscribed.
Before You Leave!
The preferred method of payment, particularly for international purchases, is virtual cards. They are without a doubt safer to use than actual cards and prevent hacks and frauds in all their forms. However, if the need arises, you can use covert methods to move money from a virtual card to a bank account.
Using PayPal is the most popular way to cash out a virtual card. It is a simple method that doesn’t call for you to go through a lot of difficult stages. As an alternative to sending money to a bank account, you can always add the card to your Venmo wallet, sell it at a gift card Kiosk, or use it to purchase more gift cards.