Visa Alerts (Mini Deposit)" typically refers to a small, temporary transaction that a financial institution or service provider uses to verify that a credit card account is valid and active. This practice is common for various purposes, including:
- Card Verification: To confirm that the card is active and can be used for future transactions.
- Authentication: Often used during the setup of services like direct deposits or recurring payments, ensuring that the provided card details are accurate.
- Fraud Prevention: To ensure that the cardholder is aware of the activity on their account and to prevent unauthorized use.
These mini deposits are usually very small amounts (e.g., a few cents or dollars) that may temporarily appear on your account statement. They are often reversed or credited back to your account shortly after verification is complete. If you see this on your statement and do not recognize the transaction, it is advisable to contact your card issuer for so the card with Visa Alerts (Mini Deposit)