11July

Demystifying Anonymous Prepaid Cards

anonymous-credit-cardIf you're traveling internationally, you want the convenience of using a credit card and also have access to cash when you need it. For those of you who also value your privacy and may not want others knowing where you are going or what you are buying, a Sovereign anonymous prepaid card may be the perfect answer.

When it comes to anonymous debit cards, "anonymous" simply means:

  • The debit card is issued with no name imprinted on it
  • The card holder's name does not appearon the magnetic strip
  • All ATM transactions worldwide are fully anonymous
Be wary of other card sites that claim to have totally "anonymous" cards, because this is not exactly true.

In actuality, every debit card has to be issued and registered under the name of an individual, in accordance with card association regulations, which also requires all issuing banks to verify the applicant's identification. This means the issuing bank knows the person who is the cardholder.

The only way any card could be truly anonymous is if arrangements are made for a "master account holder" to issue subsidiary cards off that same account. In that case, any funds placed into that account would not really be under the control of the card holder, but under the control of the person that holds the account.

Obviously, this is not recommended because there is high risk involved since your funds are controlled by a third party and not you.

Sovereign anonymous prepaid cards are perfect for those who want their privacy.

They're also excellent for international travel when you don't want to have to call your bank to inform them you're going out of the country. Many bank cards will freeze your account if they are not notified due to anti-theft measures. With a Sovereign Gold Card you don't have to worry, because it's always ready to be used.

Sovereign debit cards are, in some instances, superior to your own credit cards or other bank cards.

For instance, nobody can access your money without your PIN. If your card is lost or stolen, it can be replaced once your identity is verified as the authorized cardholder, so your money is safe. 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.

As an added bonus, prepaid cards come with wholesale exchange rates offered by Visa and MasterCard. Plus, you get 24/7 online access and free customer support.

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

You simply order the Visa or MasterCard debit card online, provide copies of the necessary ID documents and, once approved, the card arrives in the mail. You then activate it and load it -- that's all there is to it.

You can conveniently reload your card in a variety of ways such as bank wire, MoneyGram, Western Union, cheque and internal transfer and the daily cash withdrawal limits are typically higher than your own bank card.

Additionally, the cost to load and withdraw your funds as cash is the same as theforeign ATM fee your own bank card charges. In many cases, it's less costly, since many banks now charge an additional surcharge for all foreign currency transactions, as well as the customary 1.5% to 2% cash withdrawal fee.

If you want to learn more, simply contact us with any questions or, if you are ready to get started, you can order your debit card online here.
Sovereign Gold Card provides offshore, international, anonymous prepaid debit cards (imprinted name options also available).
Sovereign Gold Card is a service of Sovereign Management & Legal, a multi-jurisdictional offshore services provider

For more on offshore formation services please go to www.offshore-protection.com