Virtual card on business trips: pros and cons

When traveling abroad, it is impossible to do without financial transactions. Paying for accommodation, transportation, and food requires employees to have cash or a valid credit card. But often, different countries accept only certain types of cards, which take a long time to obtain from local banks. One way to solve this problem is to apply for a virtual card in advance for payment abroad. We will tell you about the pros and cons of such a solution.

Why is a virtual card better than a regular one?

Virtual card security

The list of advantages of a virtual card should start with the main one - security. It is impossible to lose or steal it, since there is no physical medium. All data is stored in the application on the phone, which can be protected with a password.

Ease of use

Their functionality is wide: you can pay in establishments, retail outlets, online stores, withdraw cash from an ATM or transfer money to another account. You can easily open a service for searching for airline tickets and pay for a reservation with a virtual card.

Quick checkout

Don't know what the benefit of a virtual card is for a client? It is much easier to get one than a regular one. The details of registration may differ in different banks, but the standard procedure comes down to a couple of actions in the user's personal account in the application on the phone. No need to visit the branch and sit in line to see an employee.

Possibility of use abroad

Banks offer a large number of card options, many of which are valid in other countries. Apply for it in advance to save time and effort and to be able to pay for services and goods immediately upon arrival. With its help, you can book a hotel abroad with prepayment or buy a plane ticket .

What is the disadvantage of a virtual card?

The need for internet access

Comparison of cards is not complete without discussing the terms of their use. To pay with a virtual card, you need the Internet, and it is not always available and not everywhere. It is important to remember this when planning business trips.

Transaction amount limits

Banks often impose limits on transaction amounts and the number of transactions for virtual credit cards. Limits can be set for both a day and a month. Keep this in mind if you want to open a hotel booking service and pay for the entire stay at once. Also keep in mind that amounts can be changed in mobile banking.

Features of use

Despite the widespread use of virtual cards, not all countries have the ability to pay for purchases in regular stores. It is also impossible to withdraw cash from outdated ATMs.

We have listed the pros and cons of virtual cards, and it is up to you to decide whether to use them or not. TravelHub will help you with everything else in organizing corporate business trips . Contact our specialists to save time and money.