Prepaid Card Comparison - Canada
Friday, September 25, 2009
Get a closer look at Mastercard and Visa prepaid cards available to you in Canada. We have compared the best and the worst for their features and charges.
Choosing the right card may save you hundreds of dollars in charges and fees. Please make sure to research well before choosing a card.
If you are considering getting one, it helps to understand prepaid cards, as they come with specific features and shortcomings.
Prepaid cards can be used to make online and in-store purchases just like a credit card, however, unlike a bank account, amount held in a prepaid card does not earn any interest.
Charges shown here in percent (%) apply to the total transaction amount.
Bank of Montreal (BMO)
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Your view:
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BMO Prepaid Travel MasterCard:
| Card issue fee |
$9.95 (additional card - $9.95) |
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| Maintenance fee |
Nil |
| Transaction fee |
Canada: Free, Overseas: 2.5% |
| Reload fee |
Bill Pay: Free |
| ATM withdrawal fee |
BMO ATM: $1.50, INTERAC: $2.75, Cirrus US: $3.50, Cirrus Overseas: $4.50 |
| Maximum card balance |
$10,000 |
| Card replacement fee |
Free |
| Balance enquiries |
ATM, Online & Phone: Free |
| Card closure & refund fee |
Cheque refund: $10.00, Electronic transfer: $3.00 |
| Inactivity fee |
$2.50 per month‡ |
| Overdraft fee |
$25.00 |
| Card to card transfer |
Not permitted |
| Features |
1. Maximum card balance $10,000
2. No maintenance fee
3. No transaction fee (Canada)
4. No card replacement fee
5. No ATM balance enquiry fee
‡ after 12 months of inactivity
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CAA Visa Travel Money Card:
| Card issue fee |
$7.95 (members) & $11.95 (non-members) |
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| Maintenance fee |
Nil |
| Transaction fee |
Canada: Free, Overseas: 5% (currency conv.) |
| Reload fee |
Varies with selling agent |
| ATM withdrawal fee |
Canada: $3.00 (max $1,200/day),
Overseas: $3.00 + 5% (currency conv.) |
| Maximum card balance |
$9,000 |
| Card replacement fee |
Free |
| Balance enquiries |
ATM: & Phone: 75¢ |
| Card closure & refund fee |
$22.00 |
| Inactivity fee |
$1.85 per month‡ |
| Overdraft fee |
$18.00 |
| Card to card transfer |
Not permitted |
| Features |
1. Maximum card balance $9,000
2. No maintenance fee
3. No transaction fee (Canada)
4. No card replacement fee
‡ after 12 months of inactivity
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Citizens Bank Reloadable Visa Card:
| Card issue fee |
$14.95 |
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| Maintenance fee |
$4.95 per month |
| Transaction fee |
Canada: Free, Overseas: 2.5% |
| Reload fee |
No charge |
| ATM withdrawal fee |
Canada: $1.00 (max $1,200/day),
Overseas: $2.00 + 5% (currency conv.) |
| Maximum card balance |
$2,500 |
| Card replacement fee |
$20 |
| Balance enquiries |
ATM: & Phone: 75¢ |
| Card closure & refund fee |
$10.00 |
| Inactivity fee |
$1.85 per month‡ |
| Overdraft fee |
$5.00 |
| Card to card transfer |
No charge |
| Features |
1. No transaction fee (Canada)
2. No reload fee
‡ after 12 months of inactivity
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TitaniumPlus Prepaid MasterCard:
| Card issue fee |
Pay as you go: $20.00,
Flat fee: $20.00 |
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| Maintenance fee |
$7.50†/$15.00‡ per month |
| Transaction fee |
Canada: Free, Overseas: 50¢ + 2.75% |
| Reload fee |
Store: $3.95, Bank Account: $2.95,
Direct Credit: $2.00 |
| ATM withdrawal fee |
Canada: $2.00†/Free‡ (max $1,000/day),
Overseas: $3.00 |
| Maximum card balance |
$5,000 |
| Card replacement fee |
Free |
| Balance enquiries |
Email/SMS alerts: Free,
Phone (Agent):$1.50 |
| Card closure & refund fee |
$10.00 |
| Inactivity fee |
None |
| Overdraft fee |
$5.00 |
| Card to card transfer |
$5.00 per $500.00 |
| Features |
1. No transaction fee (Canada)
2. No card replacement fee
3. No inactivity fee
† Pay as you go
‡ Flat fee
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Opus Prepaid MasterCard:
| Card issue fee |
$20.00 |
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| Maintenance fee |
$7.50 per month |
| Transaction fee |
Canada: 50¢, Overseas: 50¢ |
| Reload fee |
$2.00 |
| ATM withdrawal fee |
Canada: $2.00, Overseas: $5.00 |
| Maximum card balance |
$2,500 |
| Card replacement fee |
$10.00 |
| Balance enquiries |
ATM: 50¢,
Phone (Agent):$3.00 |
| Card closure & refund fee |
$10.00 |
| Inactivity fee |
None |
| Overdraft fee |
$5.00 |
| Card to card transfer |
Not permitted |
| Features |
1. No inactivity fee
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HorizonPlus Prepaid MasterCard:
| Card issue fee |
Cirrus Card: $14.95,
MasterCard: $19.95 |
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| Maintenance fee |
$4.95 per month |
| Transaction fee |
Canada: 50¢, Overseas: 50¢ + 2.5% |
| Reload fee |
Store: $3.95, Bank Account: $2.95,
Direct Credit: $2.00 |
| ATM withdrawal fee |
Canada: $2.00 (max $1,000/day),
Overseas: $3.00 |
| Maximum card balance |
$5,000 |
| Card replacement fee |
$10 |
| Balance enquiries |
ATM: & Phone (IVR): 25¢,
Phone (Agent):$1.50 |
| Card closure & refund fee |
$10.00 |
| Inactivity fee |
None |
| Overdraft fee |
$10.00 |
| Card to card transfer |
Not permitted |
| Features |
1. No inactivity fee
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MyCard Prepaid MasterCard:
| Card issue fee |
$39.95† |
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| Maintenance fee |
$5.95 per month |
| Transaction fee |
Canada: 50¢, Overseas: 50¢ + 3.5% |
| Reload fee |
$3.95 |
| ATM withdrawal fee |
Canada: $2.95, Overseas: $4.95 |
| Maximum card balance |
$2,500 |
| Card replacement fee |
$20.00 |
| Balance enquiries |
ATM: 95¢,
Phone (IVR):$2.00 |
| Card closure fee |
$10.00 |
| Inactivity fee |
$1.95 |
| Overdraft fee |
$10.00 |
| Card to card transfer |
$3.00 |
| Features |
†Includes $5.00 initial load
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enviro Reloadable Visa Card:
| Card issue fee |
$14.95 |
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| Maintenance fee |
$4.95 per month |
| Transaction fee |
Canada: Free, Overseas: 2.5% |
| Reload fee |
No charge |
| ATM withdrawal fee |
Canada: $1.00 (max $1,200/day),
Overseas: $2.00 + 5% (currency conv.) |
| Maximum card balance |
$2,500 |
| Card replacement fee |
$20 |
| Balance enquiries |
ATM: & Phone: 75¢ |
| Card closure & refund fee |
$10.00 |
| Inactivity fee |
$1.85 per month‡ |
| Overdraft fee |
$5.00 |
| Card to card transfer |
No charge |
| Features |
1. No reload fee
2. Card-to-card transfer allowed
3. No card-to-card transfer fee
‡ after 12 months of inactivity
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