The BMO Prepaid Travel Mastercard is a great option for those who want to travel without worrying about carrying cash or credit cards. This card allows you to load money onto it before you travel, which means you can only spend what you have on the card. This makes it a great option for those who want to stay within a budget while traveling.
This prepaid card is offered by the Bank of Montreal, one of Canada’s largest banks. The card is designed for those who are 18 years or older, have a valid Canadian address, and have a Canadian bank account.
One of the key features of the BMO Prepaid Travel Mastercard is that it can be loaded with up to 10 different currencies. This makes it an excellent option for those who are traveling to multiple countries on their trip. The currencies that can be loaded onto the card include the US dollar, Euro, British pound, Australian dollar, Japanese yen, Hong Kong dollar, Mexican peso, Swiss franc, New Zealand dollar, and Singapore dollar.
Loading money onto the BMO Prepaid Travel Mastercard is easy. You can do it online or at a BMO branch. The minimum load amount is $100 CAD, and the maximum is $10,000 CAD. It’s important to note that there is a fee of 2.5% of the amount being loaded, up to a maximum fee of $10 CAD. This fee can add up if you are loading large amounts of money onto the card, so it’s important to factor it into your budget.
Using the BMO Prepaid Travel Mastercard is easy. You can use it anywhere Mastercard is accepted, which means you can use it at millions of locations around the world. The card can also be used to withdraw cash from ATMs that display the Mastercard, Cirrus, or Maestro logos. It’s important to note that there is a fee of $2 CAD for each ATM withdrawal, in addition to any fees charged by the ATM owner.
One of the benefits of using a prepaid travel card like the BMO Prepaid Travel Mastercard is that it can help you stick to a budget. Since you can only spend the amount of money you have loaded onto the card, you won’t be able to overspend. This can be especially helpful for those who are traveling on a tight budget.
Another benefit of using a prepaid travel card is that it can help protect you against fraud. If your card is lost or stolen, you can report it to BMO and have it cancelled. You can then transfer the remaining balance to a new card. This is much easier than dealing with fraudulent charges on a credit card, which can take months to resolve.
The BMO Prepaid Travel Mastercard also comes with travel insurance. This insurance includes emergency medical coverage, trip cancellation and interruption insurance, and more. The specific coverage varies depending on the plan you choose, so it’s important to review the details carefully before selecting a plan.
It’s important to note that there are some fees associated with using the BMO Prepaid Travel Mastercard. In addition to the loading fee and ATM withdrawal fee mentioned earlier, there is also an inactivity fee of $5 CAD per month if the card has not been used for 12 months. There is also a foreign exchange fee of 2.5% for transactions in currencies other than those loaded onto the card. These fees can add up, so it’s important to factor them into your budget when using the card.
Overall, the BMO Prepaid Travel Mastercard is a great option for those who want to travel without worrying about carrying cash or credit cards. It’s easy to load, easy to use, and can help you stay within a budget while traveling.
BMO Prepaid Travel Mastercard comes with zero liability protection in case of unauthorized use. It allows you to pay for purchases for amounts ranging from 100 to $10,000 CAD