Visa Electron is one of the payment systems on the famous Visa network that runs in nearly every country around the world. Visa Electron functions as a debit card, and it is offered in every jurisdiction across the globe except the United States, Australia, Canada, and Ireland. Even though Visa Electron falls under the category of debit cards, its functionality is slightly different from that of Visa Debit. The Electron card does draw funds from the user’s bank account, but only available funds can be used. This is unlike Debit cards that allow one to exceed their bank balance by a set limit.
In most cases, Visa Electron is given to clients with poor credit or young consumers that are just starting out on the banking journey. In recent years, this card has been on the decline with nearly all physical stores banning its use since it cannot be used to check the availability of funds. Even so, it is still being issued, and here are eight surprising ways it can be used.
- Engage in casino gameplay
The casino business is one of the thriving online niches that offer real money entertainment. When looking to gambling online, punters are required to deposit funds into their casino accounts for games to be launched. Visa Electron is listed in some gambling dens as one of the ways these transfers can be made. Once gamblers register on a gaming site, they can begin by claiming slot catalog bonuses, if any are offered. They can then proceed to key in their banking information in the cashier section, which is sometimes placed under My Account. The transfer allows gamers to claim even more incentives and collect credit payouts that can be cashed out as real money.
- Online shopping
The internet has done much more than just bringing real money casinos to players’ fingertips. The platform also allows access to a vast range of online shopping stores that serve similar functions as physical ones with the only difference being that they are virtual. The lack of physical interaction when dealing on the web makes it impossible to make payments using cash. This is where options like Visa Electron come in. All that is demanded is the entry of card details in the respective store they are shopping in, enter the amount they would like to transfer, and confirm the transaction.
- Online payments
Aside from online shopping, Visa Electron can also be used to pay bills online. In recent years, a lot of utility firms have directed their focus into making online payments easier by accommodating web transactions. Therefore, once the company has the user’s card information, all they have to do is cut the corresponding amount per month or annum depending on the terms of payment. This approach eliminates the stress accompanied by sending invoices physically through the mail, which comes with the risk of them getting lost or delayed payments from forgetting to make the transfers.
- Purchase Bitcoin
The financial world is continuously evolving like all other industries, and one of the significant steps that have been taken in the past decade in the niche is the introduction of digital currencies. Cryptocurrencies function like conventional money with the only difference being that they exist entirely online without a physical form. Bitcoin, which is the leading cryptocurrency in the world, can be purchased using Visa Electron. The price of one BTC varies according to market trends, and it is currently selling for about 8500 dollars. The purchases can be made entirely online with the help of Visa Electron.
- Stay on a budget
One of the most significant upsides Visa Electron has over other Visa cards is that it allows the user to stay well within a budget. Unlike with other card options, Visa Electron can only be used to make payments with cash that is in the account. Therefore, it is impossible to exceed the limit and step into the realm of debt.
- Donate to charity
One can choose to use their Visa Electron card to improve the lives of others through donations. The charity funds do not have to come directly from your account, but rather from the points you have accrued with its use.
- Go to exclusive parties
Like with donations, the points collected by using the Visa Electron card can be used to gain access to private parties that would otherwise cost a fortune to pay for. A lot of hotels accept payments in the form of card points, and some people have even gained access to events like the Grammys using the same.
- Make international payments
When travelling to another country, you are sure to use a different currency from the one at home. Visa Electron comes in handy to make payments without having to worry about exchanging cash.
Visa Electron exposes card users to a lot of opportunities to make payments more manageable. Even so, caution is advised to avoid falling victim to hackers and fraudsters that could transfer funds illegally from your account.