There are some 7.1 million people in the United States—or 5.4%—who don’t have a bank or credit union account, according to the most recent data from the Federal Deposit Insurance Corporation (FDIC). Also, India currently stands at the second position in terms of unbanked population in the country.
Throughout this article, we will understand how to get a Visa Card Without a Bank account.
Can you get a Visa Card Without a Bank
Yes, you can get a Visa Card Without a Bank account. The use of Visa cards has revolutionized both online and offline payment methods. Visa cards are available to everyone and may be used for any purchase that would typically need cash. A bank account is not necessary.
Although it helps facilitate the procedure, a bank account is not necessary in order to apply for a credit card. In fact, those who choose other financial solutions can now obtain a credit card without having a bank account, which makes it more easy.
See the Different Visa Cards.
You will only be required to provide a bank account in order to send the cash deposit to the bank. This payment is also simply made in cash. Numerous banks provide this service.
Understanding Visa Cards without a Bank Account
In order to obtain a Visa card without a bank account, an applicant must first meet certain eligibility requirements.
Selecting a bank or other financial institution that provides debit card accounts, deciding on the kind of account you want, opening and maintaining the account with the bank or financial institution are the steps involved in obtaining a standard debit/credit card.
However, with prepaid debit card, you can buy them at a variety of stores.
Prepaid debit cards, particularly those targeted at underprivileged populations, are provided by a few banks and other financial services firms. For the most part, Visa card issuers will use your income, work status, and credit score alone to assess your eligibility for a credit card.
It has advantages of its own if you have a Visa card without a bank account.
Among other things, they can be utilized for fancy dining, traveling, shopping, and covering unexpected medical costs. Furthermore, it’s simpler to make repayments on these credit card accounts without tying them to a bank account.