Three Tips for Avoiding Declined Transaction Fees on Virtual Cards

Three Tips for Avoiding Declined Transaction Fees on Virtual CardsThree Tips for Avoiding Declined Transaction Fees on Virtual Cards

Virtual cards provide a secure and convenient way to make online transactions, which is particularly beneficial in regions where traditional banking infrastructure may be limited. Here at Chipper we know that for many users in Africa, having easy access to a virtual payment card offers both consumers and small businesses quick access to e-commerce, payments and financial transactions. From shopping to streaming, food delivery to rideshares – the online world can be your oyster with a virtual card.

However, just like being stung with a fee should a bank account have insufficient funds, the same thing can happen with virtual cards. While this can be frustrating, there are several ways to avoid decline fees and save money in the long run. Here are three tips for good account management to help you avoid being hit by declined transaction fees on your virtual card:

1. Maintain a minimum balance: a certain way to avoid any unexpected decline fees is to maintain a minimum balance on your account. Having a $10-$20 USD balance on your card will mean unexpected debits can be made hassle-and fee-free. Like physical payment cards, virtual cards require adequate funds in order to successfully complete a transaction. Make sure that your virtual card account is always funded to avoid declines.

2. Be savvy with subscriptions: virtual cards, such as the Chipper Card, can be a game-changer for getting quick and easy access to online services such as Netflix, Apple Music and Spotify. Just be sure to audit your subscriptions regularly, canceling any unwanted services to avoid merchants attempting to charge your card, resulting in multiple declined transaction fees. Setting an alert for when your free subscription is up so you remove your card details in a timely fashion can also help you stay on top of subscriptions.

3. Keep track of your account balance: it is essential to monitor your account  regularly to ensure you have enough money to cover your purchases. Check your online statements often to stay across your transactions and, more importantly, quickly see any decline alerts and charges so you can take immediate action. With the Chipper Cash app, you can instantly check your balance, review transactions and activity – offering an easy way to manage your account. 

In conclusion, card decline fees can be avoided with proactive and good account management – giving you peace of mind so you can effortlessly shop, stream and subscribe to your favorite online services. Looking for a card to match your digital life? You can use the Chipper Card for online purchase anywhere Visa is accepted. Learn more about the Chipper Card here.