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Mr. Loonie

BMO Prepaid Mastercard®

Best for: Travellers who want a reloadable card for trips that is not linked to a bank account

Cost to keep it for a year
$10
$0.83 a month
Monthly fee
$0.83
Apply now on BMO’s site (opens in a new tab)
We may get paid if you apply through this link. It never changes our score.

Have this card?

Details from BMO’s site. Banks can update terms at any time, so give them a quick look before you apply. Source

Can I get it? Perks Fees Similar cards
From the numbers

The good and the bad

Watch for

  • Watch for: $9.99 a year
  • Watch for: 2.5% on foreign purchases Use a no foreign fee card when you travel.

Worked out from the card’s rates and fees.

Before you apply

Can I get it?

  • Where you live Canada
  • Work permit holders Yes
  • Study permit holders Yes

Mr. Loonie’s tip Most prepaid cards don’t build credit. If that matters to you, check whether the card reports to the credit bureaus.

What cardholders say

Ratings from people with this card

No ratings yet. If you have this card, tell others what it’s like.

Applied and weren’t approved?

Insurance and perks

What comes with it

  • Mastercard Identity Check
  • Extended Warranty
  • Purchase Protection
  • Save up to 20% on National Car Rental® and Alamo Rent A Car® and up to 5% on Enterprise Rent-A-Car® at locations worldwide using the Car Rental Booking tool
  • Mobile wallets Apple Pay, Google Pay, Samsung Pay
Coverage limits

We haven’t recorded the coverage limits for this card yet. Read BMO’s insurance certificate before you count on any coverage.

Fees and interest

What it costs

Monthly fee
$0.83
Card price
None
Foreign currency fee
2.5%
All fees and rates

Fees

Annual fee
$9.99

Prepaid fees and limits

Activation fee
None
Inactivity fee, per month
$5 Per month after card expiry date until card balance has been reduced to $0.00
Currencies held
CAD
Source
Issuer page
Before you decide

Similar cards

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Some of these links pay us when you apply, at no extra cost to you. Most don’t, and pay never changes our score. How we make money

Common questions

Questions people ask

What is the annual fee on the BMO Prepaid Mastercard®?

$9.99 a year.

Does it charge a foreign transaction fee?

Yes, 2.5% on purchases in other currencies.

Does it include insurance?

It lists extended warranty and purchase protection. Read the insurance certificate for the limits.

Rates, fees and offers come from the card issuers and change often. We work to keep this page accurate and current, but it may contain mistakes, so always check the issuer’s terms before you apply. This page is general information and isn’t financial advice.

Spot something wrong? We’ll check it with the bank. Suggest a correction

Card names, logos and trademarks belong to their owners. No issuer wrote, paid for or approved what we say about this card. Our scores and opinions are our own.

Mr. Loonie is independent and supported by affiliate links. We may earn a commission when you apply through some links, at no cost to you. How we make money

$10
a year to keep
Apply now on BMO’s site (opens in a new tab)
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