Here Are The Best Online Bank Accounts With Virtual Debit Cards

With online banking on the rise and fintechs and e-money platforms appealing to a new generation of customers, it should come as no surprise that debit cards, too, are making the shift from physical to virtual.

Just like physical debit cards, virtual debit cards are fully-legitimate cards (issued by Mastercard or Visa) that come with a 16-digit card number associated with your account, an expiry date, and a three-digit CVV number. You can use your virtual debit card the same as your physical one, the only difference being that you won't be able to swipe or insert it at point-of-sales machines, so you'll need to tap your device instead.

In 2023, there are advantages to using a virtual card over a physical one. For one, it's often more convenient, with the multi-channel functionality allowing you to make payments over your mobile phone, tablet, or PC and dodging the need to carry around your wallet. What's more, virtual cards run less risk of being lost or stolen than physical ones, and if they are (for example, if you lose your mobile phone), then you can easily block them online.

Virtual cards also almost always let you set spending limits yourself (unlike most physical cards) while still coming with the same top-notch security and anti-fraud protection.

However, your bank probably won't offer you a virtual debit card in most cases. Instead, if you'd like to use an instant virtual debit card, you'll need to open an account with an online bank or banking fintech. This guide explores the best options to get the job done quickly and cheaply!

Best Online Bank Accounts With Instant Virtual Debit Cards

Sadly, there isn't any one-size-fits-all account and virtual debit card that suits everybody. However, there are two that come pretty close! Below, we explore the accounts offered by Revolut and Wise, which both offer virtual debit cards and associated accounts to users in many countries worldwide:

Revolut

A leading fintech, there's a good chance you've heard of Revolut. By signing up, you'll not only get an instant virtual debit card, but you'll also be able to access a broad range of financial services at no fixed monthly cost. However, partly because it's not yet a bank in the US and UK, we think Revolut is best used as a powerful spending tool next to a main bank account instead of in place of it.

• Account name: Standard
• Monthly fee: USD 0
• Virtual card type: Visa
• Max. number of virtual cards at one time: 20
• Can set spending limits: Yes
• Can block card online: Yes
• Mobile wallet compatibility: Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay.
• More info: See our full Revolut review or visit the website.

Wise

Wise isn't a bank but a money transfer operator well-known for offering some of the cheapest international transfers globally. However, money transfers aren't Wise's only speciality — they also provide the Wise Account, a low-cost foreign currency spending account (that comes with a virtual debit card) that's best in class for foreign currency spending of all kinds, whether it's holidays overseas, online shopping, or international money transfers.

• Account name: Multi-Currency Account
• Monthly fee: USD 0
• Virtual card type: Visa
• Max. number of virtual cards at one time: 3
• Can set spending limits: Yes
• Can block card online: Yes
• Mobile wallet compatibility: Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay.
• More info: See our full Wise review or visit the website.

Best Accounts With Virtual Debit Cards by Country

Which bank or fintech offers the best account and virtual debit card for you will depend on where you live. If you come from the US, Europe, or Asia, you'll probably have access to the full suite of benefits that make virtual debit cards truly unique, including compatibility with Apple Pay, Google Pay, and others. If you're not from these regions, your options might still be more limited.

Below, we go over the leading options in the US, UK, Europe, Canada, Australia, India, and Nigeria. All of the virtual debit cards themselves are very similar, so instead, we compare the accounts below based on what makes them the most unique in general:

United States

In the US, big banks typically don't offer virtual debit cards, and only Citibank, Bank of America, and Capital One offer virtual cards at all (although these offerings are credit cards). We think the following fintechs have the best offerings:

1. Revolut: Best all-around spending app.
2. Wise: Best for foreign currency spending and holidays.
3. Chime®: Best for day-to-day checking.

See our ranking of the best neobanks in the US to learn more.

United Kingdom

UK high-street banks don't typically offer customers virtual debit or credit cards. Fortunately, however, online banks usually do. Here are the best options available to UK residents:

1. Starling Bank: Best overall choice (Starling is a fully-licensed bank).
2. Monzo: Best for savings and interest (also a fully-licensed bank).
3. Revolut: Best secondary account and spending app.
4. Wise: Best for foreign currency spending and holidays.
5. Monese: Best for ease of application and newcomers to the UK.

Separately, another exciting offering in the UK is Curve, which we reviewed here. Though not an online bank account with an instant debit card itself, Curve is a personal finance app that allows you to bundle all your existing bank cards into one platform to be used digitally. This essentially allows you to turn your non-virtual cards into virtual ones in just a few taps!

See our ranking of the best online banks in the UK to learn more.

European Union/EEA

Like in the US and UK, virtual debit cards are generally offered by fintechs and online banks in Europe. Here are the best options for EU/EEA residents:

1. N26: Best all-around (N26 is a fully-licensed bank).
2. bunq: Best virtual credit card.
3. Revolut: Best secondary account and spending app.
4. Wise: Best for foreign currency spending and holidays.

See our ranking of the best online banks in the EU to learn more.

India

If you're from India, you're in luck! Many Indian banks already offer full bank accounts that come linked with virtual debit and credit cards, putting Indian banking ahead of the crowd when it comes to virtual transactions.

Some notable examples of banks offering virtual cards are HDFC, SBI, SBI, ICICI, and many others. We recommend checking directly with your bank to find out if they already support this service.

Nigeria

The most interesting virtual debit cards in Nigeria are the following:

• Barter by Flutterwave: Best card and app overall
• ALAT: Best bank account with instant debit card
• Wallets Africa: Best USD and NGN virtual cards

See our full list of the best virtual dollar cards in Nigeria to learn more.

Canada

1. Revolut: Best personal finances app.
2. KOHO: Best for online chequing and credit building.
3. Wise: Best for foreign currency spending and holidays.

Australia

1. Revolut: Best overall spending app.
2. Wise: Best for foreign currency spending and holidays.

How To Set Up Virtual Debit Card

Setting up a virtual debit card is fast and easy, requiring only an internet connection and a few minutes of your time.

There are two methods to get the job done, depending on what you're after. On the one hand, you could sign up for an online account that comes with an instant virtual debit card (like Revolut or Wise). After registering and being verified (usually in just a few hours), you'll be able to use a virtual debit card while you wait for a physical one to be sent by post.

Here's more about how it works:

On the other hand, you could also opt to add your regular debit (or credit) card or cards onto a mobile payment app or mobile wallet like Google Pay, Apple Pay, Samsung Pay, and others. This option is best if you're looking for the convenience of being able to pay with your smartphone but aren't necessarily looking to sign up for a new app or online bank.

Here's a bit more about how it works: