BMO Prepaid MasterCard Travel Card Review:

I've been using the BMO Prepaid MasterCard Travel Card for years now as a regular use card, and for some in province travel. Overall I've been very happy with it, and frankly it's hard to find any prepaid card capable of competing with it. Transfers can easily be done from your BMO bank account via online banking. The transfers are instant, but the balance information in your card's account does take some time to update. You can view your card details through BMO online banking (eg: website, or app). It is possible to transfer funds from the card back to your bank account, but there's fees for this! The card unfortunately lacks important modern security features like chip, and contactless payment. So, you'll have to swipe when making in-store purchases. Cashiers are often thrown by this since most people have chips these days, but it’s not a problem since swipe is still supported. This is probably the biggest drawback of the card. The main advantage of this card over other cards is spending limits. Most other prepaid cards on the market have a cap of $2500-$3000 for any purchase, but this card supposedly caps at the full balance of the card ($10,000 CAD is the maximum you can load on it) which, makes it suitable for larger purchases beyond the day-to-day stuff. It's nice having that extra breathing room, just in case. The card is a bit ugly compared to other prepaid cards on the market, but who cares so long as it works, right? The renewal process is weird. Sometimes they'll renew your card, and other times they'll issue a totally new card. Not all places which accept credit cards will accept prepaid cards, but in my experience with this card, most do. With prepaids becoming increasingly common, I suspect support will only grow in years to come. I've been able to use this card online, at gas stations (I've had one not accept prepaids at the pump), in stores, with vending machines (I've enountered some that didn't accept prepaids), etc. If you're interested in getting a prepaid card, the BMO Prepaid MasterCard Travel Card is an option worth comparing, especially if you already bank with BMO.

Authors:James Daniel Marrs Ritchey
Date Created:August 7, 2021