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Private Bank Card

Instant Access to Your Private Funds

 

A private bank card is a bank card linked to a private bank account. Private bank cards typically come in the widely recognized brands, such as VISA and MasterCard. While they function essentially the same as a traditional bank and credit cards from a merchant's point of view, the holder of the card typically has the card linked to a private bank account held in a private bank, often in a private financial center.

 

What is the advantage of a private bank card?

 

The primary advantage to the holder of a private bank card is that it provides convenient, direct access to his private bank account. In the past, the time and expense involved in completing private bank wires, and private bank transfers meant retrieving smaller sums of money from a depositor's private bank account was difficult. If the private bank account holder wanted to withdraw funds, he would either pay a disproportionately large percentage of his withdrawal in fees, or be forced to move a larger sum to his or her domestic bank account.

 

How do private bank cards work?

 

Private bank cards work almost identically to domestic bank and credit cards. The cards typically have a Visa, MasterCard or Bank Card label, are accepted at more than 14 million locations worldwide and provide cash advances like domestic atm cards at several hundred thousand automatic teller machines and banking institutions around the world.

 

Despite their similarities, some differences exist between domestic and private bank cards. The vast majority of reputable private bank cards are "secured" cards. They require private investors to provide a security deposit with their application for the card and therefore do not require private investors to go through credit checks. The amount of the security deposit varies between institutions, but normally ranges from 125% to 150% of the credit line requested (e.g. at 150%, a credit line of $20,000 requires a security deposit of $30,000), although some issuing institutions require security deposits as high as 200% of the credit line requested.

 

The Private MC Debit Card

 

The solution that we find superior, especially for those who need higher limits for their private bank card is the MC Debit card.

 

There are two big advantages to this type of card.

  1. First, it gives you access to more of your money. Many secured credit cards necessitate leaving upwards of 200% of your credit line on deposit, while our MC Debit card offerings do not require this.
  2. Secondly, it offers more safety. The MC Debit bank card only allows access to the money that has been physically loaded onto the card. This significantly limits any chance of loss due to theft or loss of the card. You get immediate access to the private funds that you want access to. Meanwhile, the rest of your money remains in your private savings account earning interest.

Click here if you'd like to open a private banking account with your very own high-limit private bank card.

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         Important notice:
         - CCG DOES NOT PROVIDE TAX ADVICE OF ANY KIND. IT IS THE CUSTOMER'S RESPONSIBILITY TO COMPLY WITH THEIR COUNTRY'S TAX LAWS.
           NEITHER CCG NOR ANY CCG SUBSIDIARY IS A REGISTERED BANK. THE CCG ARBITRATION CENTRE IS NASSAU, THE BAHAMAS.

 

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