Create a virtual card in any currency with DiviPay and pay no exchange fee. Great for online shopping or booking with overseas merchants.
- DiviPay is currently free during the beta period. Thereinafter the fee will be 2%.
$0 Foreign Currency Exchange Fees - Make Purchases in 15+ Currencies Online with Divipay Virtual Card and Pay Zero Exchange Fee
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AssociatedLericfingle on 21/06/2017 - 16:06 divipay.com (536 clicks)
Last edited 21/06/2017 - 16:09 by 2 other users
Last edited 21/06/2017 - 16:09 by 2 other users
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You deposit in AUD. You then pay the converted amount from USD to AUD.
Ahhhhh thanks. Howabout the conversion? Will we be using interbank rates ?
Hi,
Currently, cards can only be loaded in AUD and then converted to USD. We are working on providing a real-time rate check. The exchange is based on the Mastercard Market Rate.
What are the currency conversion rates? Is it just the Mastercard prevailing rate?
E.G.
$1 USD will cost $1.32 AUD via Mastercard
Market rate is $1.32
Paypal 1 $USD is $1.26 (weirdly below market rate)
Amazon 1 $USD is $1.366The exchange rate used to convert the currency used in an international transaction into the billing currency, shall, in each instance, be either a rate selected by Mastercard from the rates available in wholesale currency markets for the applicable processing date and may vary from the rate Mastercard itself receives, or the government-mandated rate in effect for the applicable processing date, plus any fees as outlined in this Agreement.
The limit of $2000 per month is not enough for my spending, is there any way to increase the limit?
Limits can be increased ($20,000 per month) however it does require a further ID verification check.
I just read your site and it's not really clear what you're on about with foreign exchange rates - I can't see anything on the whole site about it?? Might need to elaborate here and on your site if you want anyone to use it.
Will be testing it out tonight, seems like a good way to sign up for trials. (Got billed for Foxtel after I forgot to cancel a trial >.>)
I've read in the FAQ that "DiviPay virtual cards are single use cards, the card will be deactivated after a single payment.", is there any plans on making it reloadable so it doesn't disappear after 1 purchase?
Edit: Deposited a dollar to test, the BIN comes up as issued by Lufthansa?
Hmm, just tried to buy an Amazon Gift Card to test the rate.
Got this from Amazon:
We're writing to let you know that we are having difficulty processing your payment for the above order.
To protect your security and privacy, your issuing bank cannot provide us with information regarding why your payment was declined.
Do you know which bank their issuer is? What is the first 6 number of their card?
Mine comes up as Lufthansa Airplus Corp Credit, 5281 77 (It shouldn't matter that I share the BIN, it's not a private part of the card anyway)
Same 5281 77.
OK, I'm dumb. I loaded $1 AUD to buy a $1 USD gift card which is why it didn't work. Loaded it again and worked.
I'll update it with the rate when Divipay updates the account.
OK, just got the transaction back.
For a $1 USD gift card, it charged the Mastercard $1.33 so 1c over market rate and 3c cheaper than using Amazon. All funded via Paypal via my Amex. + from me.
@Holysmoke: Currently all cards need to be preloaded however maintaining a balance/ pulling from your account will be available soon.
There is no deal here….
Maybe op can update? otherwise this should be neg'dThe deal is, buying stuff overseas without any fees and being able to use whatever credit card you want. So for example, you can buy something from Amazon without fees just like 28 Degrees or Citibank but also for those with an Amex, can collect points.
It's also can be useful for paying off Australian stores/bills. For example, my health insurance doesn't take Amex. If I can load up the amount I need onto this virtual Mastercard again earning points.
Just waiting to see what the conversion rate to see if it's a truly good option for international purchases.
So not a deal, more of a forum post…..
Well, there is a 0% fee (like Citibank Plus) for now and 2% when they come out of beta according to them. I'd say that's a deal (assuming the currency rate is confirmed good).
So its only a short term deal with no overseas transaction fee, pretty much useless then when you can get a 28Degrees credit card Citibank Plus Debit card to do the same thing with no fees either.
No spread during the beta period? Does that mean we use direct interbank rates?
Also how do I directly deposit USD in?