Firstly, check out some of my other articles on Canadian prepaid cards, and alternatives for the typical prepaid card user:
- CIBC Has Launched Canada's First Debit Visa Card, which may be an
excellent option instead of a prepaid Visa or prepaid Mastercard.
- But watch out, CIBC's Advantage Debit Visa doesn't seem to work very well online yet.
- More and more prepaid Visa cards and Mastercards are coming out on the Canadian Market. Check out my 2012 Prepaid Card Recommendations here. (Still relevant, but slightly old 2011 Guide to The Top 5 Prepaid Mastercard and Visa Cards in Canada here)
- My article on Secured Credit Cards in Canada, including comparisons to prepaid cards, and how a secured card can help you build your credit rating is now ready for reading.
In theory, these cards should, but don't always, work everywhere. You may have to register an address with the cards online, even if nothing is being shipped. Companies can choose to reject all prepaid cards if they want to. The BMO reloadable prepaid card, which you have to apply for, and is registered with your name/address/etc should have no problem working everywhere, but it can still be an issue, so read some comments! In this article, I'll go over which ones are best.
Necessary Background Information on Prepaid Visa/Master Cards in Canada
- Good for Privacy, those that can't get a credit card, security (while doing online transactions)
- Often not accepted at hotels/motels/rentals (read for more details)
- Should not contribute to your credit rating. Some do check for identity verification, or because you could go into debt with non-instantly processed payments (Request your FREE Credit Reports at least YEARLY!)
- Not a bad way to carry money if you don't have a credit card while travelling
- Accepted most places where a Mastercard or Visa card are accepted
- Many of the prepaid cards available, in a word, suck. Watch out for monthly fees&what happens to expiring balances (sometimes they're lost entirely like with the RBC Prepaid Visa)
- The zero-liability policy that Visa and Mastercard have applies to these prepaid cards just like regular Visa and Mastercards.
- Reloadable cards always require ID and some kind of application process
- Non-Reloadable cards are usually more anonymous, but pricier (probably for the convenience factor).
- Most cards on the market charge fees, usually to load up the card with money, but sometimes also to call and check your balance, inactivity fees, fees when you use it at an ATM, fees when you use it, fees when you don't use it, etc. So I'll go over which card is the best in common situations.
- Even though some cards are non-reloadable, you can make purchases with the remaining balance, and make up the rest of the payment in cash/debit/other credit card at most retail stores.
- Some cards, like the Vanilla card cannot be used at gas pumps, though you can pump and pay inside with them.
- Not CDIC Insured, so watch out for unknown/unheardof financial institutions
The Best Canadian Prepaid Mastercard and Visa Cards
The BMO Mosaik Prepaid Travel Mastercard is the best choice for most people. Check out my (very) short and readable review of the card here. The one-time fee is higher than a lot at $9.95, but the card can always be reloaded for free through on-line bill payment, or by another BMO credit card. Expiry date is 36 months and there are NO charges for each purchase you make, nor with checking your balance online, through an ATM, over the phone or through an agent. So, the customer service is very good, and I think you can trust BMO. There is an inactivity fee if you go more than 12 months without using it. BMO also has a rather decent nationwide presence.
BMO actually charges you if you want a paper statement, so it is a good pseudo-anonymous card, since you will need to formally apply for the card.
Some cards are available for an initial price of $2, but their monthly fees start after the 7th month of issuance, which isn't good for most people, so I won't go into those, but they are available from Vancity credit union.
Royal Bank Visa Gift Card (Best Card for Many Situations)
I've written a summary of the Royal Bank Visa Gift Card here, take a read!
You must buy these cards at an RBC branch, no forms are even required! The cards cost just $3.95 to buy and come in amounts of $25 to $500. Watch out though, if you still have a balance after 6 months, they start charging you $1.50 per month. If the card expires and you have money on it still, they charge a "fee" of whatever you have left, ie: you lose it. I believe these card do NOT have your name attached to them at the get-go, and they are not reloadable. You do have to show 2 pieces of ID to buy one however. I'm not sure to what degree they document your info (or just look at it to verify your age and let you go). You can register the card online so that it does have a name (and address I presume) attached to it and use it for online purchases though, or claim it lost/stolen.
RBC isn't forthcoming with what their expiry date is on their website, but rest assured, the cards do have an expiry date.
Vanilla Prepaid Mastercard - The Privacy-filled "Gift-box" Cards
These cards do NOT require you to sign up, so they're pretty much 100% anonymous (though things like what you use to pay for it and/or which computer you used to check your balance online might be trackable). You will still have to sign the actual card and sign receipts at merchants.
For good reason, they "recommend that you write down the Card number and the customer service number on a separate piece of paper in case the Card is lost or stolen."
The Vanilla Prepaid Mastercard Customer Service Number is 1-800-652-9174.
Shoppers Drug Mart sells the "Vanilla" Prepaid Mastercard, as do tons of other retailers. This is actually the People's Trust Mastercard, so it's really a product of a financial institution, not Shoppers themselves. They're not reloadable, and they start charging a monthly fee after 6 months. The initial cost is only $3-$6, but when the monthly fee kicks in, it's $2.50 per month, and the whole card expires after 12 months. Boo-urns!
Visa Prepaid Card Options
Citizens Bank offers a Prepaid Visa Gift Card.
They don't provide too much info on there website at https://www.citizensbank.ca/Personal/Products/VISACards/VISAGiftCard/ but their load fee is just $2, but then they nickel and dime you a bit. For an automated balance inquiry over the phone, they charge $0.50. I'm not sure of any monthly or inactivity fees, you'll have to call them at 1-800-611-8472.
Canadian Prepaid Visa Card&Prepaid Mastercard Conclusions
I think the BMO option is the cheapest and best prepaid option for those that want a cheap card for themselves with their name attached to it. Certainly, you should try applying for a real credit card if you can get one, such as the Studentawards Credit Card application here. Apply today! No annual fee beats monthly fees! For those that want a bit more anonymity and need a card now, without filling out an application and all that, the Royal Bank Visa Gift Card seems like the way to go, just make sure you spend your money quickly, or you'll start paying monthly fees. For most people, a real credit card is the best option, but it all depends on your circumstances. I'd say that dealing with your own regular credit card company will be easier to deal with than one of these prepaid cards if your card gets compromised, but for some things, these cards are a good option. I will say that internet credit card fraud is rather rare, and that you're usually also vulnerable when you shop at a regular retail store as well, since they often process transactions over the very same networks.
Don't buy Vanilla Visa card
DON'T BUY OR USE THIS VISA CARD !! They put "up-lift" charges (as they call them) on them. You do get the money credited back to your account but you can't use the card for the full amount. Say you are in a restaurant with a $75 card. If you try to buy a meal (including tip) for $70, you won't be able to. The $75 CAN NOT BE USED as you wish (like a normal visa card). DON'T USE VANILLA !!!!!
I agree this card is the
I agree this card is the biggest piece of garbage I have ever seen. Took it to the store only to be told there is no money on the card imagine the embarrassment with a queue of other customer looking at you like you are crazy. Then top that off with trying to call the company the wait is outrageous to get through to customer service only to be told after faxing in copies of the card and receipt that you have to wait for a period of 30 days for them to investigate.
When asked why so long was told there are alot of situation like this for replacement card.
I would really like to know if this is the fix that vanilla visa have to solve the problem by issuing a replacement card make absolutely no sense.
This company needs to come up with a better solution to resolve the problem and maybe possibly try to reward the customer for the poor service that they are providing.
Agreed - Vanilla Visa is very
Agreed - Vanilla Visa is very difficult to use, however, i have had very good luck with Vanilla Master Card. Fees are too high, though.
Visa Titanium
I would NOT recommend this card to my worse enemy, I have registered it twice, I had nothing but a problem putting money on it and I still have NOT been able to use it, What a piece of garbage this card is, Save yourself a headache and STAY AWAY from Visa Titanium. GARBAGE and a big waste of time and money. :(
BMO prepaid in Europe
hi i am travelling to europe in a few weeks and i was just wondering if anyone had used this card while in europe and if it was alright to withdraw money from atms ?
The comments just a little
The comments just a little bit below suggest that the card should work fine for purchases in Europe. I'm not sure about ATMs, but it shouldn't be an issue. Just be sure that the ATM shows the Mastercard symbol on it (sometimes they're only on Visa's system). Also, make sure you choose a 4-digit PIN, sometimes you can choose longer ones in Canada, but Euro ATMs will only accept 4-digit ones. You'll get dinged $4.50 + 2.5% currency conversion + whatever fee the ATM charges, so make each withdrawal count!
Also, call BMO before leaving to let them know you'll be travelling and where, they can open up a "window" to permit card usage rather than flagging it as fraud.
Your Interac debit card may work at ATMs in Europe. Again, call your bank ahead of time. If you're a Scotiabank customer, they have a deal with some banks in foreign countries to not charge any transaction fees when using that bank's ATMs with their debit cards.
Iridium?
Is anybody familiar with Iridium? Good / bad experiences? Where it could be purchased?
Thank you!
I had the card, it worked
I had the card, it worked very well, but their service charges are out rages, espeically since I used the card over in Russia for most of the time. Lost a lot of money each time I used the ATM, with all their end of day batch processing, reload fees, etc.
Rather cheap for an anonymous
Rather cheap for an anonymous card, if you use it quickly. Watch out for the fees after 6 months, and watch out for the per-use charges of 39 cents too. If you need something long term and don't need anonymity, get the BMO Prepaid Travel Mosaik. If you need to do one or two transactions, try the 3v prepaid "card". If you need something mostly anonymous, get the RBC Visa Gift card, just be sure you have nothing left on the card once it expires, because you lose whatever is left.
BMO travel credit card
Hi I'm just wondering what are the qualification for getting a BMO travel credit card?can I book hotels with this? I'm traveling with kids and I cannot arrive at a hotel and be turned away because they don't accept this card.Any suggestions?thx
Your prepaid mastercard
Your prepaid mastercard should work anywhere you go
I travel often to Western Europe, use for hotels and rests all the time, have never ever had an issue
A great card, easy to transfer funds with online banking as you need
Anyone can get a prepaid card, you load it from your bank account
Bmo mc prepaid cuba?
Will my bmo prepaid mc be accepted in cuba? Holguin area?
I suspect it would work as
I suspect it would work as well as any other Canadian-issued credit card. Keep in mind that credit cards are probably nearly useless in Cuba except for tourist-type services.
hi ive never owned a credit
hi ive never owned a credit card yet and so im not sure what the name of it and where to find the one im looking for i would like to find one that comes with money on it already so i can use it write away and then after so much i pay a percentage back i have applied for one at my bank but did not get accepted because i have no credit but would like to get a credit card to be able to build my credit.. anyone know where i can go and what the name of any is??? thanks
You don't "own" a credit card
You don't "own" a credit card - the bank does ... and then the bank "owns" you.
Capital one has a pretty good
Capital one has a pretty good program for someone building there credit.
Indeed. Take a look at my
Indeed. Take a look at my guide on Secured Credit Cards in Canada
Any other alternatives for a non-permanent resdient?
This seems to be the best pre-paid reloadable card on the market by a mile.
Unfortuantely, being a "temporary" residant of Canada (Haven't got my permanent residency yet), I am unable to get one.
Any suggestions for the next best thing for someone who has no credit history and just wants to do some online shopping?
Money mart Visa does the job just fine
I've read everyone's comments and to be honest you get what you pay for. I have been using the Money Mart Titanium Visa pre-paid card for the past 3 years and it works everywhere. Hotels, rental, online purchase without a hitch. Yes, it may have the .05 charge per purchase but honestly there is a reason why we use a pre-paid Visa and nothing in this life is for free. If you want to a credit card that get's the job done without hastle then here is where its at. Just use the Money Mart card and stop your whyning already!
i have been using the visa
i have been using the visa prepaid titanium card from moneymart for the past 14 months and have had a 2 problems . i was buying a gift online and the order would not go through,as the company's system would not accept prepaid cards. also once when i had to get a refund the money would not go back on my card -the company said it was done and the money should be there-visa said the company never put the money back on after 2 days of back and forth a rep from the company who worked with me over the 2 days discovered that she had to contact money mart and things were faxed back and forth and money mart had the money put back on my card -when i went to money nart and asked about it they said that could happen and the company your getting a refund fund has to contact them if your money does not go back on your card. also you have to go directly to money mart in person to upload your card with money,it would be much more convient to load it via your online banking.overall it is has been a good card and ive only run into the 2 problems
Money Mart Titanium Card
This card like others that don't have raised numbers are fine for online purchases, but many hotels won't accept them.
I completely agree! Just
I completely agree! Just tried to use one without the raised numbers and got rejected. So it is a hassle and can't be used everywhere.
RE:
just wondering about the titanium, i have run my initial balance down and want to reload it online. Is the NextWave Prepaid Visa incompatible with Soctiabank?? It isn't registered as a payee... thanks for your help :)
canada post re-loadable prepaid credit card
Is there any hardship stories that happen with it so far .... am thinking ab. getting 1 ; flyer says first deposit on it can be up to $500. then u can load up to $10,000
Activation fee $15.00
monthly service fee $ 3.00
Reload fee $3.00
Negative balance fee $5.00
ATM & cash advances $ 2.00
Customer service calls $1.00
Replacement card $20.00
Foreign currency conversion 2.5%
it says perfect for transfering funds between cardholders
the permanent card expires 2 y. after issuance.
the expiry date on the front probably does not coincide with issuance ...
www.myprepaidcard.ca is where one monitors the money dissolving process , if one calls customer service $1.00 off the total ...
Any one has any good or not good experience to share ....
i called if i get my card today Aug. 31 they will take $3.00 monthly fee then on Sept first again take $3.00 monthly fee , the employee said that she cannot change that rule .
Nextwave Titanium + pre paid visa card
I just wanted to post cause im so pissed right off at this card. Do not use this card. It's crap and they suck you dry of your money. I went to make a purchase online, and for what ever reason, it went through, and then the MErchant cancelled it. The way i understand it is the visa company takes the amount of the purchase and holds it for the merchant to collect, the merchant has 15 days to collect. it my case the MERCHANT cancelled and after calling long distance said that they notified ViSa that the traction was cancelled. Visa said i can get my funds released early IF the merchant filled out this form sent to me via email and faxed back in. Well the merchant wont do this. But they did offer to do a conference calll with visa. NOPE. They need this form. IT's the ONLY way to get MY MONEY back! Well _uck these guys, got pissed off cut the card up and tossed it in the trash where it belongs. So phoned up visa again pissed right off said fine send me a bloody in the mail on the 28th of Aug when my funds will be released. Np sir, but there is a 10.00 charge if we mail a cheque out. Like wtf! moany mart and Visa can both go thumb _uck them selves. Just warning you, Keep your money or improve your credit rating and avoid these and other generic pre paid credit cards in general!!!!!!!!!!!!
YOU CAL ALSO CONSIDER OPENING
YOU CAL ALSO CONSIDER OPENING A BANK ACCOUNT WITH CIBS WHICH HAS A VISA DEBIT CARD AND INTERAC DEBIT CARD IN ONE CARD. IT'S LIKE IN THE US, IT IS THE ONLY BANK IN CANADA THAT OFFER A VISA BRANDED DEBIT CARD. YOU CAN USE ANYWHERE WHERE VISA IS ACCEPTED.
I have it and it's not worth
I have it and it's not worth a lick. I have tried using it everywhere and no one wants to accept it. Not hotels, car rental companies eMerchants that only accept credit cards NO WHERE!
I want to buy something
I want to buy something online, can I get like a $300 mastercard giftcard or something?
BMO Prepaid Not Accepted @ Budget & AVIS
I've had the BMO prepaid MC for almost 3 years. It has been accepted everywhere I have used it, online as well (air line companies, ebay, paypal, etc…). Just recently, while attempting to rent a car, I was told by the counter agent @ Budget, that they (along with AVIS, and another rental company that I don't recall its name) don't accept prepaid/travel-type credit cards. The agent said they only accept "Major Bank" credit cards. I argued that BMO is a major bank that issues MCs. But, still, the agent wouldn't take my MC. Something about, they are not allowed to charge your card in the event of an accident. I guess not having funds on the card would also be a reason. I need to call up both Budget and BMO to get more details on this. Regardless, just a heads up to everyone. I also don't know whether other car rental agencies do accept the BMO travel MC, or not.
Loading BMO Prepaid.
I have no problems loading my card via my own bank. I bank with TD Canada Trust. i just set it up as a bill payment option, and the transfer takes usually about a day or two. though i do admit I do not know if they took out that option on the application. But I am happy with it. :)
BMO Prepaid Travel Card
I tried to get a prepaid card this morning for my 16 year old son, as we are travelling this summer and I wanted to give him a chance to spend his own money, without getting into trouble spending too much, as he could do with an actual credit card. Be aware, these cards are not available for anyone under the age of majority in your province. So even though it sounds like the perfect option for us, it won't work!
RBC Prepaid is an Option
You could still buy an RBC Prepaid Card and give it to him, they won't know the age of the person using it :)
Or just give him cash, then he's always aware of how much he's spending and how much he has left. He just needs to be more secure with it, which isn't a bad skill to learn.
HELP
Hi, I am going to buy something on ebay, I need to get a card that you can just buy at the store, like the vanilla card, but with the closest price range to $55!
PLEASE HELP
prepaid cards.
i went and bought a prepaid vanilla to purchase stuff off ebay and wasnt able to . cuz its not personalizedmit doesnt have the security with ur name and address. it was useless for me i ended up having to just spend all the cash at the grocery store. i bought a canada post prepaid card for my ebay shopping and it works well. no hassles..yes theres fees but nothing free in life. i dont mind paying the fees so i can shop online its not outrages. good luck.happy shopping.
Vanillia Pre paid credit card
I registered it on line by going to www.vaniliamastercard.com and entered a postal code then you can add it to pay pal
$75 Vanilla Visa Prepaid Card
$75 Vanilla Visa Prepaid Card
Vanilla Prepaid Visa Card
I received this card as a gift and have been unable to use it as it may not be activated. The businesses where I tried told me that they have had problems with these cards as they cannot process anything on them. I have called the company but its only voice activated and cannot choose to speak to someone. They have a website where I was able to log on and find that almost half the value is gone in monthly fees (2.50/mth). The site has an area where you can leave a message and someone will respond - I have asked for my card to be reset to full value and activated - but hey guess what no one responds to your message. Looks like these cards are another BIG SCAM.
help with vanilla prepaid
Hi, I've been using vanilla visas online for a while, and i had the same problem as you at the beginning... The problem is, you HAVE TO go the website on the back of the card (not necessarily vanillavisa.com) and register your card. You can put your name, address...etc, then even paypal can verify them and it'll be accepted everywhere. I know they are a bit hard to get to on the phone, just dial the number, select your language, and don't bother listening to other options, just press 0 for operator. Hope it all works out.
prepaid card
i would like to have a form for a prepaid card credit
VISA
Dear Sir, I would like to contact with you
Courier Service
Hi! I just want to know if this is a legal process. I have a friend who is sending me money. But instead, his bank came up with the idea that they will have to send me an international ATM card which works as a debit and credit card as well. It has already been recharged with money of course. My question is that, they send me a mail and they will be sending the card through a courier service. Now the bank is asking me money. I would like to know if that is a legal act by the bank. My friend told me that it will be for the courier service to pay for insurance fee. Shall I pay for that or the bank who will send me the card? Before I send the money to them with the promise that the card will be delivered to me in 24 hours, I need to know if I have to pay the insurance fee or is it the bank who will send the card.
I wouldn't recommend this.
I wouldn't recommend this. Couldn't he send a money order? Which country is your friend in?
CanadaPost Reloadable Prepaid Visa
I just find that Canada Post has lunched a Prepaid Reloadable Visa card.
Acording to Canada Post website http://www.canadapost.ca/cpo/mc/personal/productsservices/visagiftcard.jsf
•No credit check or bank account required.
•Available for use immediately—no waiting required.
•Prefunded and controlled by you.
•Track your transactions online
To buy it :
•Visit a participating Canada Post outlet.
•Bring government-issued photo ID.
•Pay with cash or debit.
How does it work?
1.Buy your card at any participating Canada Post location. Load up to $500 on it. Start using your temporary card immediately.
2.Receive your permanent card in the mail. Activate it and the funds from your temporary card are transferred automatically to your new card.
3.Use your card anywhere Visa is accepted.
4.Reload your permanent card: ◦At participating Canada Post locations using cash or debit (funds available instantly) or
◦Using the bill payment option from your bank account (funds available in 1-3 days).*
MOre info and full details and fees you can find here:
http://www.canadapost.ca/cpo/mc/personal/productsservices/visagiftcard.jsf
Easy to get it and the Reload options of this card seems more advantageous than BMO Mosaik Prepaid. On the down side maybe some fees could be a problem.
Very expensive, I've order a
Very expensive, I've order a MASTER PREPAID CARD from BMO, they open a account and you can transfer find instantly, It only cost 9.99$ for 3yrs.
The only problem with BMO, it's like all they other bank, a bunch of liar, that will without any problem over charge you, of simply close the account
if you're in negative, after closing they account they put more charge and come saying you own us this much.....
How can you deal with these thief, liar.
So much corruption make me sic.
*Not for use for online
*Not for use for online gambling. Online acceptance at all websites cannot be guaranteed due to varying security levels.
High dollar amount/promotional
I am looking for a card to put $1000 - $5000 on for sales promotions and employee bonuses. Is there any cards that are anonymous that I can put this much onto?
prepaid Mastercard or Visa
I need to pay a fee of $ 578.00 online, where can I purchase a prepaid Mastercard or Visa card, preferrably re-loadable but not necessary, that will suit this need ? I can only find gift cards with a maximum of $200.00 and the service I need will only accept one submission, please advise asap. Thank-you for your time and trouble.
Donald
Hi Dylan, i work for a
Hi Dylan, i work for a company that offers prepaid cards that you can use for employee rewards. Plus on all our cards you can have the employee recieve reward points for everytime they use it. I can also brand your company name and/or logo on to it so you have your own company branded visa or mastercard. contact me at mark.hoyle@trucash.com if you would like some more information.
hi yes i am looking for a
hi yes i am looking for a prepaid card
prepaid master card
I have a BMO prepaid mastercard, you can order it online and it takes a few weeks to get but it is great...........I have used mine to make purchases online, to pay for airline tickets and I have used it in several different stores and it works like a gem. I haven't had any charges for using it as I put the money on it and use it like a credit card I don't take cash from an ATM with it. I don't have a BMO bank account therfore it may take 24-48 hours to reload it as I just go into my President's Choice bank account online and pay it like I am paying a bill, I love it, I haven't tried any of the other cards I don't need to this one works just fine.
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