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Email this10:11 am
May 15, 2007
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I was at a Canada Post office and saw an add for the Cash Passport Mastercard. It reminded me very much of CIBC's AC conversion Visa, except that it has a purchase fee and reload fees.
I'm generally interested in foreign exchange services both personally and for my business, but haven't used either of these prepaid cards before. Has anybody used them? What are their advantages over a no-foreign exchange fee credit card? From what I can see, the main advantages are 1) it's more like a debit card, so you limit your exposure; 2) you might pay at ATM withdrawal fee if you need cash while travelling, but it won't be treated as a cash advance.
10:24 am
December 17, 2016
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Wouldn't ever consider either one;
- Post Office cards are littered with fees
- CIBC AC prepaid cards can only be loaded with foreign currencies through CIBC and I have found CIBC's foreign exchange rates to be VERY uncompetitive.
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I have chosen to go with a CIBC Smart Prepaid Visa (Canadian Funds) as my back-up travel card because it can be used for both ATM withdrawals and CC purchases - reload online as needed. I have already used it for several online purchases in both USD and Euro without incident. To use this card effectively you need to be a CIBC client.
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Lots of folks going with Koho and Stack prepaid cards BUT they have T&C that may not be acceptable to others.
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