The Sovereign debit card is what is known as "stored value" card. Quite simply, that means that you store money and access it by using your card worldwide at a bank machine (ATM, review locations here) or by using it like a bank debit card to make purchases.

There is no individual name printed on it.

Although no name appears on the card or on the magnetic strip and ATM transactions worldwide are totally anonymous, this is not a so called “anonymous” card. Every card has to be issued and registered under the name of a real person which is in accordance with card asssociation regulations which also requires all issuing banks to verify ID.  Therefore you are known to the bank as the holder of the card. The only way any card could be anonymous is if arrangements are made for a “master account holder” to issue subsidiary cards off that same account. In that event, any funds placed into that account would not in reality be under the control of such a card holder but under the control of the person that holds the account. Obviously this is a very risky proposition as your funds are controlled by another party.

Two years from the date of issuance.

Anyone can apply regardless of his or her nationality, country of residence, credit history or status.

Yes and no. All cards function in basically the same way, but they can be put to a number of different uses. Your employer can use a Card as a more convenient and less costly way to pay you. You can send a card to someone as a gift. You can use a card to transfer money to relatives overseas or to a child away at college. An insurance company can use cards to pay claims. In short, the possible uses are virtually endless.

Sovereign Debit Card is more secure than a bank card. Like a bank card, nobody can get at your cash without your Personal Identification Number (PIN). What's more, unlike a bank card, the maximum risk that you face is the amount of money stored on the card. With a normal bank card, someone who steals both your card and PIN may be able to clean out your entire bank account.

When it comes to the question of security, the term "stored value" may be a little misleading. The money is not actually stored on the card but in an account with the issuing bank that is part of the card. Therefore the funds on your card are on deposit under your sole control with a substantial sized European bank.

In reality the funds on your card are on deposit under the cardholder’s sole control with the card issuing bank in Belize or Cyprus.

Your PIN is not stored anywhere on your card, not even on the magnetic stripe. The information on the stripe merely identifies you so that our systems can compare the PIN that you enter to the one that is stored in our secure computers. That way, a thief who steals your card cannot learn your PIN even with a magnetic card reader.

Because your PIN is so critical to the security of your card, it is important that you protect it. Be sure that nobody is looking over your shoulder when you enter your PIN. Even if you aren't aware of anyone watching you, it is still a good idea to shield the keys of the ATM with your other hand when you enter your PIN.

There are lots of ways that Sovereign Debit Card beats cash. To name just three:

1. Sovereign Debit Card is more secure than cash. If cash is lost or stolen it is likely gone forever. If your Sovereign Debit Card is lost or stolen, it can be replaced. No one can get at your money unless they also have your PIN. (We recommend that you do not write down your PIN or, if you do write it down, never keep it in the same place as your card.)

2. A Sovereign Debit Card is a global cash and debit card. When you use cash, you usually have to exchange your money for local currency when you travel out of the country, which can be a costly and time-consuming inconvenience. With Sovereign Debit Card, you can use your card at any worldwide ATM. All cash withdrawals are automatically in the local currency.

3. You can safely send a Sovereign Debit Card in the mail. The post office and courier companies tell you not to use their services to send cash. In the past, if you wanted to send money to friends or relatives across the country or overseas the only alternative was expensive wire services and payment companies like Western Union. Now, you can easily send a Sovereign Debit Card to them in the mail. It is secure because no one can access the cash on the card unless they also have the PIN. (NEVER send a card and its PIN at the same time and wait until your recipient has received the card before loading it).

1. Cash stored on a Sovereign Debit Card is available immediately. If you send a cheque as a gift or to transfer money to relatives "back home", the recipient's bank usually puts the money on hold for at least a few days, and often a few weeks, until the cheque "clears". The wait can be particularly long when sending money out of the country. With a Sovereign Debit Card, you can tell the recipient the PIN over the phone. Then, as soon as the card arrives, the recipient can use it immediately at an ATM.

2. Cards can be refilled quickly and easily. When you use a cheque to send gifts or transfer money, or if you want to send another gift or transfer more cash to the same person, the recipient has to wait for the cheque to arrive and the bank to clear it. With a Sovereign Debit Card you just add more cash to the same card. The recipient then has immediate access to the cash -- the second and subsequent times of course, they don't even have to wait for the card to arrive.

1. Sovereign Debit Card can be used to send gifts or transfer money. Since an ordinary bank card and PIN gives the holder access to your full bank account, they are not a good way to send a gift or transfer money to others. A Sovereign Debit Card gives a recipient access to only as much money as you add to the card -- not your whole bank account.

2. Sovereign Debit Cards are more secure. Because a Sovereign Debit Card is not tied to your bank account, in the very worst case, if someone steals both your card and PIN, the most that the thief can get is the money that remains on your card. With a bank card, they may be able to drain your entire account.

You can purchase a card online by clicking here.

It can be used at any ATM machine displaying the Visa or Visa Electron logos or in the case of the Mastercard, wherever you see that logo displayed. Worldwide there are many millions of such ATM locations.  In addition the card can be used at any electronic point-of-sale displaying the Visa, Visa Electron or Mastercard  plus can be used like a credit card for all internet, mail and telephone order transactions.

One per person, therefore one of each if you desire to have more then one card in your own name.  However, you may purchase additional cards for family, friends, employees, agents etc. except they will need to complete the online application(s) and send in copies of their ID in order for them to be able to use it.

Yes, since the 3 digit CCV security code is on the back.

No. A Sovereign Debit Card is what is known as a "stored value" card. This means that you must first add money to the card and then spend or withdraw that money from it. You cannot use the card to spend more than the amount of money that is stored on it.

No. Since you cannot spend more money than you have added to the card, the card issuer does not assume any risk and, therefore, is not concerned with your credit rating.

There is one exception. Companies that make small loans may use a Sovereign Debit Card as a more secure and convenient way to provide you with cash. In this case, a credit check may be required, but it is a credit check for the loan, not the card.

You can transfer money to your card over the Internet or at your bank and the funds can come from you or any third party that can use one of these payment methods. Please see the methods below:

- EUR or USD cheques
- ACH payment between Panama banks
- International Bank Transfer (Wire, Swift, etc.)
- Western Union
- Moneygram

Yes. Nobody can get at your money without your PIN. If your card is lost or stolen, it can be replaced once we verify that you are the authorized cardholder.

Yes. The cardholder is a known account holder because the card is in their name. Cardholders can simply contact Sovereign Debit Card directly and we'll replace the card as soon as possible.

If you have lost or forgotten your PIN number you cannot get a new one or reset the PIN in any way. If you have made 3 or more attempts at an ATM the system will automatically lock your card and disable use for 24 hours.

You can go back to any ATM after the 24 hour lock down period and try again. If you have in fact forgotten or lost your PIN number you must replace your card.

Yes, but depending on the purpose of the card, the issuer may decide to absorb that cost as part of its service. For example, an employer that uses Sovereign Debit Card to pay its employees may cover the cost of the cards rather than passing the cost along to its employees. View transaction fees.

Foreign banks usually send us withdrawals in their local currency. If that is different than the currency of your account we will apply a competitive exchange rate to convert it to your card's currency at the bank’s exchange rate free of any surcharges that are imposed by credit card companies on their credit cards.

You can see your card's balance, along with any transactions applied to your card, on the secure Sovereign Debit Card Web site.

No. You don't need your own computer to have a Sovereign Debit Card. You can use the card just like any other bank debit card. You can use any computer equipped with a current web browser and internet connectivity to monitor your card activity.

Click here to view our fees.

The Visa card may be loaded with up to EUR 80,000 per annum and the Mastercard USD 240,000. There are no other daily, weekly or monthly load limits for the Visa card whereas the Mastercard has a USD 2000 daily load limit. You are limited to how much you can withdraw. These limits are set by each ATM you use but multiple withdrawals could allow you to draw out at an ATM or spend at a merchant point-of-sale as much as EUR 3,000 per day.

Yes. Please visit the section "Contact Us" or click on the Live Chat tab to see if a customer service can assist immediately. Customer service for problems with using the card or disputes with merchants are handled directly by each issuing bank and their hotline numbers are on the back of each card.

The security of your money is of utmost importance to us. The issuing banks take great care to protect it, such as using the highest publicly available level of security on their Web sites.

Yes. You can simply add more money to the same card. They will then have instant access to the cash.