How is the Virtual Card different from a local card?
The El Dorado Virtual Card and local cards serve different purposes. Local cards are designed for your country, while the Virtual Card is built for international purchases, subscriptions and payments in dollars.
Here are the main differences:
International acceptance
Local card: Depends on the bank and country. Many have restrictions for international purchases or require prior activation.
El Dorado Card: Visa issued in the United States. Works at millions of stores globally without needing any activation.
Currency
Local card: Denominated in your local currency. Every purchase in dollars goes through a currency conversion at the bank's own exchange rate.
El Dorado Card: Denominated in USD. Payments in dollars are processed without currency conversion.
International purchase fees
Local card: Most banks charge between 3% and 8% extra for international transactions (currency spread, taxes and bank fees).
El Dorado Card: Payments in USD have no currency conversion or additional international transaction fees.
Requirements
Local card: Usually requires a bank account, credit history, proof of income and sometimes an in-person visit to the bank.
El Dorado Card: L2 level in El Dorado + quick verification. All from your phone, in minutes.
Cost
Local card: Varies. Many charge monthly or annual maintenance fees, plus charges for additional services.
El Dorado Card: 3.99 USDT, one-time payment. No maintenance or recurring fees.
Phone payments
Local card: Some support it, others don't. Depends on the bank and country.
El Dorado Card: Compatible with Apple Pay and Google Pay.
When should I use each one?
Local card: For purchases in your country, local bill payments and transactions in your currency.
El Dorado Card: For international purchases, digital subscriptions, payments in dollars and when you travel.
It's not about replacing one with the other, but having the right tool for each situation.
📌 Tip: Use your El Dorado Virtual Card for everything in dollars or international. For local payments in your currency, your bank card is still useful. They're complementary.