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US Virtual Bank Account – As per the present scenario, globalization is already in a boom. This has led to money transactions at the global level apart from the conventional things including idea exchanges, working in multinational companies, and education from foreign universities and so on. The online transactions that happen at the global level, especially from the United States origins, require an account to be present in the State itself to avoid incurring additional international transactions. However, US has put some restrictions on opening accounts by individuals who are not the residents of United States. In such cases, the US virtual bank accounts come to the rescue. This virtual account can be used to receive payments at the global level without having to let the international transaction charges drill a hole through the pockets. The best part of opening a virtual account is that it can be done free of cost.
THE NEED FOR A US VIRTUAL BANK ACCOUNT
The following section highlights the need to create a US Virtual account online:
- A BOOST TO THE ONLINE INCOMES
The current generation is packed with freelancers and blogger who work for international clients and need to receive payments on a regular basis. There are also people who sell their products on the international market and hence need to receive the payments. While the conventional methods of receiving checks take a great amount of time, affiliations with companies like Amazon, ClickBank, GoDaddy etc. and creating a US Virtual Account can actually speed up the process. The money can be withdrawn at any of the local ATMs using Payoneer Cards.
- VIRTUAL ACCOUNT AS A SUBSTITUTE TO PAYPAL
A person who has a US virtual account does not need to worry about the withdrawal failure that is most common on PayPal in certain regions. Most of the US Virtual Accounts can be used to withdraw the money at the local ATMs which support MasterCard transactions. However, one should also note that these accounts cannot be linked to PayPal.
- RECEIVE MONEY FROM US BANKS
If anyone has his family members staying in the US and who send money frequently, US Virtual account can be used to receive these payments and the cash can be withdrawn instantly or within one working day from the day of deposit at any of the local ATM machines. This offers a greater advantage over all the conventional methods.
BEST METHODS TO GET A US VIRTUAL ACCOUNT ONLINE FREE OF COST
One no longer needs to be a US resident if he desires to open a Virtual account and receive payments. However, the creation of every US Virtual Account online requires the person to give a detailed explanation stating the cause of the same which might be trading, payment receipts etc. much in prior to the account opening.
Certain organizations help people in opening a US Virtual Account and provide them prepaid cards that can be utilized to withdraw money at any local ATM. These accounts work in collaboration with big companies and can also be used to receive payments from Google Adsense, Amazon or PayPal as well. The welcome kit for each of these bank accounts consists of a VISA or Master Card along with an account number.
Some of the websites that can be utilized to get sorted with a US Virtual Bank account are as follows:
- PAYONEER
This company allows the users to transfer money into and from their accounts. The transactions can be carried out using the e-Wallet system of Payoneer or even the pre-paid Master Cards that the account holders are provided with at ATMs or retail stores. The service has gathered much fame owing to its cross-border transactions carried out in a jiffy. However, people in India cannot use Payoneer. Payoneer has been as one of the top companies that facilitates payments for business purposes and has a global presence except for some exceptions.
Users and account holders need to pay an annual charge of 30 dollars for their account.
- NETSPEND
Registering with this site provides the users with a free US Virtual Online account. This account can be used by the account holders to receive the payments directly. The company provides prepaid cards but with a limitation that the cards are shipped only within the USA. Getting an account at Netspend does not require any monthly fees and the account can also be used to receive the payments from the PayPal accounts as well. The major drawback of having an account with Netspend is that the company has put restrictions on the use of the virtual accounts for business purposes. So, this is a great option only for personal users like freelancers, bloggers etc.
- PEX CARD
This transaction service has fans all over the world owing to its flawless cross-border cash transactions. The major fact to be noted regarding this card is that the usage of this card is limited to business purposes only. The account holders need to pay some amount of fees for keeping the account activated, although the opening of the account is free of cost. It is a great option for all those people looking to crack international business deals.
Read : How to Receive Amazon U.S. Affiliate Payment Using Payoneer?
- WORLDCORE
Worldcore helps people to send and receive payments from and into the virtual bank account that they get while registration. The account holders can get an Ultimate Prepaid Card through courier delivery which can be used for cash withdrawals and point-of-sale transactions. The virtual account also facilitates payments to any Visa, Master Card or Union Pay card worldwide. The money transfer takes place without the account holder having to pay any additional fees. The virtual account with Worldcore can be used for both business and personal level transactions.
- LEUPAY
Leupay is one of the most common names in the segment of cross border money transactions. Opening a virtual account online at Leupay has got many perks including multi device access, free VISA card that can be utilized to draw cash at local ATMs, affordable charges and much more. The account does not charge any additional fees for international payments.
Getting a US Virtual Bank account has got a lot of associated perks and advantages. However people opening a US Virtual Bank account should always go through all the terms and conditions of these accounts carefully and note the fees that need to pay to carry out transactions or avail any of the services. These virtual bank accounts are sure to give a boost to your international online money earnings and transactions without much expense.
