Verve Card Information – Types, Charges, Transactions Limits
With several card types used in transacting business in various financial arena, little or no knowledge is known about the advantages of usage of a particular card type. Customers just randomly fill in the card type they want without really knowing what they can use those cards for apart from withdrawing from ATMs. This article seeks to provide information on the Verve card.
This is a card that allows you to have unrestricted access to your money on the go. Verve card comes in different variants such as the Verve Prepaid, the Verve Debit and the Master Card Verve. Running on the Quickteller platform, which in itself is very versatile and made available by InterSwitch, Verve card allows so much flexibility in its usage and deployment.
Some Benefits of Verve Card
Among some of the benefits of using Verve card is the ease of usage such as the transfer of funds to other accounts through QuickTeller; the easy purchase of air time whenever you are out of call credit and also, the payment of bills and subscriptions such as DSTV, PHCN among a wide variety of other bills.
Acceptable only within Nigeria, Verve card gives so much flexibility to its users as they can use their cards for POS purchases, bill payments, and all other services available on InterSwitch.
Where to Get a Verve Card
At the moment, fifteen Nigerian banks offer Verve card services to its customers. Among these banks are Access, Fidelity, First bank, Jaiz, FCMB, Enterprise Bank, Heritage Bank, Keystone bank, Wema, Skye bank, UBA, Unity bank, Sterling, Mainstreet bank, and Ecobank. These financial institutions are the current issuers of Verve card to its customers.
Types of Verve Cards
Transiting from the old InterSwitch Debit card, it has metamorphosed into a more secure and convenient Verve card. There are mainly 3 types of Verve cards; Verve Prepaid, Verve Debit and Master Card Verve.
– Verve Prepaid: This is a pre-funded and also reloadable card having restrictions to only the naira. However, the Verve prepaid card can be used in all Visa acceptance points across the globe.
– Verve Debit: Linked to your savings and current accounts, you can make purchases online and pay directly from your bank account through your debit card. This eliminates the risks associated with holding cash.
– MasterCard Verve: This card gives you the freedom of making online purchases anywhere the Maestro or MasterCard Logo is displayed. You can also make withdrawals at MasterCard ATMs worldwide.
How Secure is Verve Card?
The level of security accompanying Verve cards is commendable. Allowing you to provide a unique secure pin known only to you, it allows you manage your account without stress. Plus, whenever your card is stolen or lost, simply call your issuing bank to report the theft or loss immediately so that the card will immediately be de-activated, thereby rendering it useless and in the process protecting your account.
Transaction Limits of Verve Card
Transaction limits are caps set to how much you can use on your card for specific day. This however varies with banks. Some banks have higher transaction limits while some have slightly lower transaction limits.
However, there is a general transaction limit set by the apex regulatory bank which is the CBN and banks are not allowed to exceed this limit. There are also limits set for POS transactions and transactions over the internet.
Verve Card Charges
By using a verve card, you have agreed that certain deductions be made on your account for the servicing and maintenance of your card. Such charges might include; issuance of new cards, replacement of expired or damaged cards, annual services charges among other charges that may arise depending on your card issuer.
These charges are periodic. And for card replacements, it usually takes typically 3 years before your card expires and charges for a new one are due.
The Verve Card Convenience
The verve experience is so satisfying! Giving you the power to control how you spend, you do not have to move about with tons of cash. Simply enter wherever you want to shop or get a service and pay conveniently through the POS!
This is hassle-free shopping as you are saved the stress of having to look over your shoulder to ensure no one is following you. With verve, the control is in your hands over how your account is managed.
Keep Track of Your Spending
A commendable feature that Verve card has is the ability to keep track with spending. Here, detailed records of transactions are kept including the dates these transactions were carried out and also the time of transaction. The name of the Merchant is also included in the transaction history, enabling you to keep track and to raise alarm whenever there’s a red flag.
How to Obtain a Verve Card?
It is easy! If your bank falls among those mentioned above then you qualify for a Verve card. Hence, simply walk into your bank and request for a Verve card. This process should not be more than a week or two.
For some banks, such as First Bank, they are able to issue the cards the same day! After getting your Verve card, the next step to take is to immediately activate it, and changing the pin to any number combinations known ONLY TO YOU!!!
Verve card has come to stay and with the cutting edge service it provides, it is only logical that many will flock to benefit from its vast array of services. This information is aimed solely at educating users on what they can do with their Verve cards and how the card is maintained. It is hoped that with the knowledge gained here, you will go on to apply it for better satisfaction.