Credit Cards - Virtual Account Numbers (VAN) Archived From: Finance |
Citibank credit cards offer a Virtual Account Number option which makes it safer to make a credit card purchase without the aid of Paypal. The virtual number generated then automatically expires at the end of the following month.
What other credit cards offer a similar benefit?
Virtual card numbers are offered by:
Citi
BofA
Discover
FIA (MBNA/Chase) - Fidelity Investment Rewards Visa
Articles:
Bankrate (08/15/2006)
BofA
Citi
BofA
Fia (MBNA)
Discover
Note that with BofA, a number, once used, only good at the same merchant, even within expiration date. You can set up a VAN to last 12 month and schedule repeated payments though
discover does not have a user selected expiration date.
Economist said:Citi
BofA
Fia (MBNA)
Discover
Note that with BofA, a number, once used, only good at the same merchant, even within expiration date. You can set up a VAN to last 12 month and schedule repeated payments though
What FIA card can you do this on? I have the ML+ visa and I don't see the option anywhere.
Fidelity Investment Rewards VISA, at least.
Does anyone know if the same Citi VAN can be used for different purchases with PP or GCO? They both add the name of the merchant in the transaction description (like "PAYPAL *username" or "GOOGLE *merchant google.com"). Since Citi VANs are limited for use at only one merchant, I'm curious if it works for multiple different purchases.
Office Depot won't refund me because i used a virtual account number....
dorkiedoode said:Office Depot won't refund me because i used a virtual account number....
How would they even know its a VAN?
akhan7 said:dorkiedoode said:Office Depot won't refund me because i used a virtual account number....How would they even know its a VAN?Probably because it expired.
You need to provide another card. Or generate VANs that don't expire so soon.
scripta said:akhan7 said:dorkiedoode said:Office Depot won't refund me because i used a virtual account number....How would they even know its a VAN?Probably because it expired.
You need to provide another card. Or generate VANs that don't expire so soon.
I don't know about other banks, but I've had refunds post to closed VANs with BoA. I believe they still have a record of what account the number was linked to after it's closed.
I closed a virtual number with my MBNA/BofA card, and a charge still came through. The only thing that has worked consistently thus far is the CL feature which has prevented any charge above the CL from coming through.
akhan7 said:BofA
Except BofA in WA and Idaho 
What's the deal with that anyway? I always see the "*Except WA and ID" disclaimer on most pages on the BoA website. They even have a separate number for you guys to call for customer support. Is there some banking regulation that requires this? I've always wondered...
scripta said:Does anyone know if the same Citi VAN can be used for different purchases with PP or GCO? They both add the name of the merchant in the transaction description (like "PAYPAL *username" or "GOOGLE *merchant google.com"). Since Citi VANs are limited for use at only one merchant, I'm curious if it works for multiple different purchases.In my experience, it can only be used for multiple purchases with the same Paypal merchant (due to what you described). Unless a different Paypal merchant uses the same CC tag, in which case it may work.
poohbie said:scripta said:Does anyone know if the same Citi VAN can be used for different purchases with PP or GCO? They both add the name of the merchant in the transaction description (like "PAYPAL *username" or "GOOGLE *merchant google.com"). Since Citi VANs are limited for use at only one merchant, I'm curious if it works for multiple different purchases.In my experience, it can only be used for multiple purchases with the same Paypal merchant (due to what you described). Unless a different Paypal merchant uses the same CC tag, in which case it may work.What's the symptom? Payment can't be processed immediately, or does it bite a few days later?
akhan7 said:What's the deal with that anyway? I always see the "*Except WA and ID" disclaimer on most pages on the BoA website. They even have a separate number for you guys to call for customer support. Is there some banking regulation that requires this? I've always wondered...
I believe that WA and ID branches were acquired from some other bank that they took over. They haven't been able or willing to integrate those bank branches into their computer network.
scripta said:poohbie said:scripta said:Does anyone know if the same Citi VAN can be used for different purchases with PP or GCO? They both add the name of the merchant in the transaction description (like "PAYPAL *username" or "GOOGLE *merchant google.com"). Since Citi VANs are limited for use at only one merchant, I'm curious if it works for multiple different purchases.In my experience, it can only be used for multiple purchases with the same Paypal merchant (due to what you described). Unless a different Paypal merchant uses the same CC tag, in which case it may work.What's the symptom? Payment can't be processed immediately, or does it bite a few days later?
Payment can't be processed immediately.
Paypal actually suspended my account once for adding/removing too many of those CitiVAN numbers on my account. Took about a week for my account to be restored, and they went on about how my actual CC number would be safe with them (that's what they all say, right?). I did cave and no longer use virtual numbers with Paypal.
Although VAN's can appear to be useful, I've had more headaches with them then they're worth. I just use my AMEX Plat for everything I can and deal with them directly if I ever have a problem. Chargebacks are so easy with AMEX, especially with Internet merchant's because they don't have a leg to stand on. Most Internet merchants don't even get the opportunity to dispute a chargeback with AMEX thanks to their strict merchant policies. I know this because I am one of them. haha. It can suck at times on the receiving end of it.
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