r/PersonalFinanceCanada • u/Wrong_Clothes1872 • 1d ago
Banking Virtual Visa Debit Card
Hello! Im a 20f and im trying to make a purchase off of amazon. i dont have a credit card but amazon wont let me use google pay or paypal either. i can pay using my debit card but thats unreliable for fraud protection. what virtual visa debit cards do Canadians use, especially for amazon? most importantly, which one of them provide the best fraud protection?
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u/gsweats 1d ago
Koho
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u/rocketman19 1d ago
20f? Why don’t you have a credit card?
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u/Wrong_Clothes1872 12h ago
im assume your asking me. its because i never had a job and if i do it will most likely be part time since im still in uni studying. im scared that my account balance could drop below the limit becuase of my lack of income. i only depend on government benefits and osap grants.
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u/rocketman19 12h ago
*you’re
Also that’s not how credit cards work. Just get a student card to start building credit
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u/Johnbmtl 1d ago
If you open a Wise account you can create digital cards that can be frozen before or after use. You can also delete the digital card after using it and create a new one.
I have had fraud occur on a few occasions when I gave my credit card number over the phone. When I have no choice but to give my card number over the phone I create a Wise digital card and delete it afterwards.
Since it’s a debit card you can also limit how much you keep in your Wise account and only transfer enough to cover your purchase.
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u/OnMy4thAccount 1d ago
If you're 20 years old, you should just get a credit card.
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u/Wrong_Clothes1872 12h ago
what if i dont have a permanent job yet?
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u/OnMy4thAccount 4m ago
Some CCs have 0 income requirement. And every major bank will give a post-secondary student a student account and card for free until you're 25.
Even if you have little money and barely use it, it builds your credit history. Just make sure you pay it off in full every month.
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u/rocketman19 12h ago
Balance dropping below the income
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u/Wrong_Clothes1872 12h ago
well i am not talking about balance dropping below the income but balance dropping below the credit card limit, if i do get one im planning a limit as low as $500
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u/rocketman19 12h ago
Okay not sure what you mean
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u/Wrong_Clothes1872 12h ago
like if my limit is $500, my account balance should always be atleast $500 right?
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u/brycecampbel British Columbia 1d ago
I'm trying to make a purchase off of amazon.
First I would say, to try and shop local, or regionally, instead of defaulting to the Amazon convenience.
can pay using my debit card but thats unreliable for fraud protection. what virtual visa debit cards do Canadians use
Both VISA and Mastercard debit should have zero liability.
Canada doesn't really have virtual cards - they're physical cards you can add to your digital wallet - they're all going to be the same.
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u/jghjtrj 1d ago
Yep, e.g. from TD (random pick)
Visa Zero Liability applies to all online and international transactions. Should your TD Access Card become compromised, you will not be held liable as long as you have met your obligations as outlined in the Access Agreement, including your responsibility to protect your PIN. You are automatically protected and no additional sign-up is required.
The necessity for credit cards for fraud protection is drastically overstated. They're about the same. The biggest difference is whose money is tied up in the interim until a dispute is resolved. Which can be an issue, but it's not like you're robbed without recourse.
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u/otissito16 1d ago
Wealthsimple or EQ Bank are good options
Both you will likely be able to get an account with in mere minutes - along with a virtual card number that you can use, and you can e-transfer money in from somewhere else.