![]() ![]() What’s a Virtual Debit Card?Ī virtual debit card is one which is linked to your banking account but which is stored on your smartphone. This is due to a rise in the use of virtual debit cards. However, the days of carrying a physical card around in your wallet may themselves be numbered. Please refer to the RBC Royal Bank Virtual Visa Debit Agreement for further details.For decades now, we have become familiar with using a plastic card to pay for items, whether it’s with a signature, a swipe, entering a PIN or, in recent years, a tap.ĭebit cards and credit cards have been around so long now that it is hard to imagine life without them. Should this occur, a credit adjustment in the amount of the original authorization will be credited to your account, followed immediately by a debit adjustment that reflects the final transaction amount. In some cases, merchants may need to adjust the authorization amount. 2) The merchant performs an authorization on your account at the time of the purchase and the charge is immediately debited from that account. This is the account you access with your RBC Royal Bank Client Card when you select the “Chequing” option on a merchant payment terminal or at an automated teller machine.
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