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Looking for Virtual Credit/Prepaid Cards (in Canada)
abytecurious
Member
in General
Any pointers on getting a cheap virtual credit/pre-paid card in Toronto? I need to make a single online purchase (Paypal not accepted) and hence the "cheap" requirement. There are prepaid Visa & MC cards at 7-eleven/convenience stores, but it costs around 5$ extra to get a $25 card. Plus, there is a 2.5% transaction fee since my purchase is in USD.
I don't need a physical card, which I think adds to the additional charges. (If it is cheaper, a one-time use card also works).
Comments
I would think there's always some charge. But the Bank of Montreal has the best long term deal I've seen anywhere. It's called their Travel Card, and you pre-load it. It's a very low charge per year ($6.96)and it carries all the advantages of any regular MasterCard. I've had one for some years now and use it mostly on-line. See here.
Entropay can be a good option for you.
Thank you @Ole_Juul. The BMO idea seems like a good long term solution.
@SPUZE: Thank you. I didn't know Entropay was available for Canada. It looked like a solution for UK based folks.
@ramesh_vish CIBC prepaid cards work well too. Just link it to your bank account and transfer what you need into the card balance.
You can use them from Canada. Their cards are worldwide supported. But, you may can't use them in GoDaddy or 1&1. ☺
Thanks @doghouch. Do I need to be a CIBC customer? Not keen on opening a new chequing account for getting the prepaid card.
Depends on the card. Their travel card is only available at Toronto Pearson @ a CIBC kiosk for non-CIBC customers. Basically, if you're not a CIBC customer, your only option with them is the "Smart Prepaid" card. (the card is available at any CIBC branch.)
I have a CIBC smart prepaid card and an USD smart prepaid card, works well. I am a customer but they said it's available to everyone, though you can only add funds in person at a branch (that was when they first had the card, could be changed now).
I remember one of them having the ability to be loaded through your bank account.
(with that said, Koho is another option. Initial load of $20 is done by Interac and a soft credit check is performed)
You can deposit cash at an ATM as well
Edit: ATMs at CIBC branches only
Thanks for the Koho direction. I think I'll try this out (no fees is always enticing). I signed up for Mogo (many moons ago, just for the Visa Card), but they declined the application (they try to first check if you qualify for a mortgage and I was a newcomer to Canada)