BRAC Bank launches virtual account and virtual debit card for secure, eco-friendly banking

BRAC Bank has launched a Virtual Account and Virtual Debit Card. 

This offers a secure and environmentally friendly alternative to traditional plastic debit cards, according to a media release. 

The card eliminates the risk of theft and enables users to conduct transactions effortlessly via online platforms, QR codes including Bangladesh QR (Bangla QR) and bKash QR, and mobile apps, including ATM cash withdrawals, from any BRAC Bank ATM.

It is particularly beneficial for non-resident Bangladeshis, allowing them to open a Virtual Account remotely through e-KYC and access all necessary banking services instantly through this virtual debit card.

The Virtual Debit Card can be conveniently managed through BRAC Bank’s mobile banking platform, the Astha app, ensuring a seamless digital banking experience. With its array of features, this card appeals to tech-savvy youth who prefer not to carry any physical card, the release says. 

BRAC Bank customers can use the card for multi-currency transactions, enabling international e-commerce payments, provided the card is endorsed by standard banking regulations. It also facilitates international subscriptions from Bangladesh.

Additionally, users can earn reward points based on spending, enhancing their banking experience.

Md. Mahiul Islam, Deputy Managing Director & Head of Retail Banking, at BRAC Bank, commented, “Virtual Account with the Virtual Debit Card will provide more liberty and convenience to the customers. The proposition is packed with all the benefits a regular account and plastic card offer and is bolstered by security features. As a customer-centric bank, BRAC Bank is committed to exploring innovative solutions to ensure a seamless and rewarding experience for all customers.”

New customers can apply for a Virtual Debit Card by opening a Virtual Savings Account through the e-KYC portal. Existing BRAC Bank customers who wish to obtain the card must convert their savings account into a Virtual Savings Account or open a Virtual Account.

Once the account is set up, customers must log in to the Astha app, where the Virtual Debit Card will appear.

The card can then be activated via the app or by contacting the bank’s call centre, the release adds.