Why do I need a CVC code and what advantages does it give?
Bank cards are actively included in the daily lives of millions of people around the world. And this is not surprising: they are convenient and easy to use, give a lot of advantages and discounts for their holders and give status to the owner. There are two main types of bank cards - debit and credit. The distinction between these two types is very simple and straightforward: debit cards are used to carry out operations with their own funds, and credit ones - to carry out operations with bank money at a certain interest on a loan. However, you should not forget about the safety of using cards, for the purposes of which they have a CVC code. This code is located on the back of the card next to the tape. According to the rules of payment systems, it is prohibited to seal or try to remove.
What is code?CVC?
It's no secret that you can make purchases of goods and pay for services on the Internet. So for these operations this code is necessary.It is used to confirm the operation on the Internet to make sure that it is actually made by the card holder. In addition to it, when paying online, you need to enter the card number, the name and surname of the holder and its validity period.
Types of codeCVC
The CVC code is divided into two types: CVC1 and CVC2. The first one is designed to pay for goods in regular stores, to make payments and transfers at ATMs, as well as to withdraw cash. And CVC2 allows not only to make operations available to CVC1, but also to make payments on the global Internet.
What types of cards are supported?CVC?
CVC1 codes have low-level cards - MC Maestro, Visa Electron. These cards are often used to pay for utilities and purchases in regular stores. However, online payment for such cards is not available. The CVC code of the second type - CVC2 - supports high-level cards, ranging from MasterCard Standart and Visa Classic to Gold and Platinum cards.
Does the presence of a CVC code-Visa somehow affect the choice of a bank? No, cards are issued by single payment systems - MasterCard and Visa. However, some banks admit the presence of CVC2 on Visa Electron cards, but even in this case such a card cannot be compared with Visa Classic, since payment on the Internet will be available on a very limited number of resources.Therefore, it is obviously not worthwhile to consider such cards as an alternative to high-level cards, especially since many banks offer cards with full-fledged functionality for very cheap annual services.
Do you need a CVC-code ?
So, to answer this question, it is necessary to understand which functions of a bank card you need, what is important to you and what is not. In particular, if you plan to use the card for settlement in regular stores, but not for online payment, an entry-level card is sufficient. If, among other things, you plan to buy goods on the Internet, pay for services on third-party sites, you must get a higher level card with a full CVC2 code.
In fact, CVC code is a pin code used on the Internet.