- Jun 5, 2018
Ha ha ****ing No Banking failed
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Shyft is Shyte though... https://mybroadband.co.za/forum/threads/standard-bank-shyft-be-aware.1108722/#post-26313830Funny all this woohaa when Standard Bank had this a year ago for Zar Virtual Cards and Shyft for $ etc cards
Hopefully these cards will work, since many virtual cards don't work on well known sites ex. Google.My views on this.
It's super useful.
1. For online subscription services where you get the first month free. Yet they need to verify your credit card. That means you create a virtual card and then you cancel the card immediately after you created your account. You never have to remember to cancel your subscription after a month since the card doesn't exist anymore.
2. For small online shops that you don't trust. You create a virtual card for the exact amount and don't delete it in case you need to claim for a refund, then you set the limit to R0. That way you still have the card if you want a refund.
Hopefully you can get a refund on virtual cards.
3. This is an assumption. But hopefully virtual cards don't have as strict security. I was prevented on buying on niche overseas websites and they don't support the additional security SMS verification the bank requests. If this card has less security it would allow me to buy on those sites.
Also, often the fraud departments of banks prevent transactions that is not your normal buying behavior. It is a pain to phone the bank and ask them to allow it. Now that the bank knows I created a virtual card they won't flag it as fraudulent.
When I went into the app the virtual card's image looks different with the words VIRTUAL on it so it cannot be confused with a normal card if you screenshot it. There is some circumstance where you have to make a copy of your physical card and send it to someone if they request it.
Hmmm. There might be some hack way to get around it by putting your virtual card details on a normal screenshot and then use that.
Don't see the problem. On a debit card the authorization is done as a separate charge that'll get refunded after a few days.I tested the Capitec virtual card. From what I see you can only have one card active at a time. That is a pity. But at least you can change the limits of it like you can do with your normal card.
I bought something from facebook pay with the virtual card and asked for refund.
That worked no problem. Not sure what happens if you cancel the card before you get the refund.
I then used it on Amazon but that is where I got issue.
Amazon only takes payment when they ship. Amazon does an authorization amount for the full amount on order date. Then on shipping date do they take the reserved authorization monies from the bank.
Capitec doesn't seem to understand Amazon's aurhorization. In my Capitec app I have two amounts showing deducted. My balance shows incorrect in the android app with the amount deducted twice.
I also have two sms's with my balance being deducted twice for the full amount. Once on order date and once on shipping date. So they SMS me my wrong balance on shipping date with the amount deducted twice.
So if you rely solely on the app you would think Amazon deducted the monies twice
Only on my laptop's browser on internet banking does it show two balances.
- An available balance with the order amount deducted twice
- An actual balance where it only deducted once.
And there is a tab called unprocessed transaction. This is the transaction that was supposed to be processed on shipping date after Amazon put a hold on it. But Capitec simply created a brand-new transaction and kept the unprocessed transaction.
I am not sure if this is limited to virtual cards or what.
Just a warning to Capitec users who use Amazon.