I use PayPal to be the middle man to protect my credit card information when I purchase items online.
Of course I have grown less fond of PayPal and their scammy behavior (plus the password limit is 20, wtf?)
My question; is there an alternative to paypal to buy things online (without crypto as not all stores take such things), such as privacy.com (but for Europe).
Correct mw if im wrong, but I believe privacy.com is for US, Canada region.
My bank doesn’t offer virtual credit cards sadly.
Thank you for the thoughtful reply! One more question: Can you really manage everything using the website? Just sounds too good to be true!
Checked out the support pages. It does get a bit complex trying to figure out if they charge for adding money via bank transfers. But I got to it! For other people wondering (only valid for EU folks):
Turns out they take the customary 1.75% on using the card to get cash from ATMs (and even take 0.50€ on top after the second time). That makes them slightly worse than established banks for this purpose.
However they offer pretty low fees on transactions with the card. While established banks still take 1.75% on every transaction, Wise currently takes 0.46% on exchanges from EUR to JPY. They don’t seem to skew the exchange rate like PayPal does either. The only drawback is they’re free to change their fee any time, while most normal banks haven’t deviated from 1,75% in forever.
To my great relief adding EUR to your Wise balance is free with a standard SEPA (EU zone) bank transfer. And they automatically convert money to other currencies as needed. Though I wonder whether you can convert in advance to make use of favorable exchange rates.
This makes it seem like Wise is a solid option. Only one data breach so far, too ;)
Yes, for a loading method which takes time to complete the conversion rate will generally be locked in from the time the transfer was initiated. You can always preview the received converted amount. Although the transfer method may vary depending on availability in the recipient account country, the various timeframes and fees (where applicable) have always been previewed accurately.
For myself I have set up MFA for payments via the app, so I will routinely be required to use the app to authenticate a payment. However other MFA methods are available. I can’t think of any other function the website itself doesn’t do.
Given there is no additional fee for converting at a foreign point of sale, I just load up in my home currency as there are free/instant methods available and convert to whichever destination currency at point of sale, ensuring to select not to have the balances converted by visa/master at terminals which have that function.
Hope you enjoy your time in Japan!