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Email this4:49 pm
January 3, 2013
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This might be interesting. https://vibrantdreamer.com/best-prepaid-credit-cards-can/
It would be even more amazing if the card doesn’t charge ATM and foreign transaction fees. The only two cards that match these conditions are Wealthsimple Cash Mastercard and EQ Bank Mastercard.
A backup card can be the CIBC Air Canada Conversion Visa Prepaid Card which conditionally matches all the conditions if preloaded and used in one of the 10 supported currencies.
All other cards come with different fees which I won’t apply for myself and recommend you to avoid them as well. Those tiny fees will add up.
5:04 pm
January 3, 2013
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moveyourmoney said
Does anyone have experience with the Wise prepaid debit card?
You will lose money! Get either Wealthsimple or EQ cards. Both are better. No FX. No ATM withdrawal fees. Conversion is based on Mastercard.
Wise has fees and limitation on its free tier.
2:28 am
November 18, 2017
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This looks like another time to point folks directly to CBC's MARKETPLACE stories about secret fees and lies about pricing:
http://www.cbc.ca/player/play/.....1301443539
RetirEd
I couldn't find a direct link last time I looked. Bad web design, CBC!
RetirEd
6:39 am
December 21, 2022
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Kinda got that feeling about Wise early on. Glad I reached out and appreciate the great info. It looks like EQ will be the back up card that makes better sense for me. One of the features that got me interested in Wise was that you could convert CDN to other currencies at any time before your travels, try to take advantage of a better exchange rate. Of course, that is an unknown and the fees would reduce the gains, even if you were fortunate to exchange at a higher rate.
8:08 am
September 30, 2017
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The term "Prepaid credit card" is a misnomer! There is no "credit" whatsoever in its working, is there?
9:16 am
January 3, 2013
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RetirEd said
This looks like another time to point folks directly to CBC's MARKETPLACE stories about secret fees and lies about pricing:http://www.cbc.ca/player/play/.....1301443539
RetirEd
I couldn't find a direct link last time I looked. Bad web design, CBC!
Indeed but EQ and WS Prepaid cards are transparent. No hidden fees. I don't work for neither just saying they are not Wise, or any other crap with a table full of fees. EQ even reimburse ATM fees charged by other banks in Canada. They don't charge ATM fees or FX fees themselves.
8:39 am
September 30, 2017
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hwyc said
The term "Prepaid credit card" is a misnomer! There is no "credit" whatsoever in its working, is there?
There is afterall. Tried at a local grocery self-checkout with my EQ Bank Card, the transaction was rejected if I pick "debit card" network. It went thru when I selected the "credit card" network, ... no PIN asked.
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