ZENITH BANK VIRTUAL ACCOUNT CARD

Following my last post on the BENEFITS OF AN ACCOUNTLESS NAIRA CARD, Zenith Bank Nigeria PLC offers two types of this card Naira and USD/pounds card.

The Naira card is powered or managed by Mastercard while USD/Pounds card is managed by Visa card.  Both cards can be funded with Naira.    

Conversion is done for the foreign currency card based on how much you are loading and the exchange rate at the time.   

These cards are operated through a virtual account.  Virtual accounts are used by Zenith Bank on transactions which are periodical and can be stopped at any time without informing the bank. 

Such accounts are used for things like salary payments, online payments and the rest.  Usually these accounts are off the book but very much legal.  Off the book in the sense that account cannot be operated as other normal accounts. 
  

Using this method, zenith bank is able to offer a Mastercard or Visa virtual account cards which can be used for online transactions, purchase through POS, mobile money transfer and withdrawal through ATMs.   

This is a better means of using money online, POS and ATM because you are only exposed to the amount loaded to the card only and not your entire bank account.   

Forget not to ask questions or add comments – use the comment box below.   

Next I will let you know how to get this card in less than one hour from any Zenith bank branch.