BMO Prepaid Travel Mastercard®

BMO Prepaid Travel Mastercard®: interest rates, available limits, cashback and bonuses. Full conditions for obtaining a credit card online. The procedure for registration and receipt online or at a bank branch. Features.


About BMO Prepaid Travel Mastercard®

A BMO Prepaid Travel Mastercard® card is a reloadable card that involves zero interest on purchases and cash advances. This is not a credit card in the classic sense because to make purchases, you must already have funds on your balance loaded by you in advance.

BMO Prepaid Travel Mastercard® features

A BMO Prepaid Travel Mastercard® card requires you to have a credit balance before using it for purchases. To have a credit balance, you need to load funds on your BMO Prepaid Travel Mastercard® card. Once you do, you can make purchases at any merchant accepting Mastercard.

There is no interest on purchases and cash advances made with your BMO Prepaid Travel Mastercard® card since you load it with your own funds and hence don’t own BMO any balance. 

The annual fee for using a BMO Prepaid Travel Mastercard® card is just $6.95.

When making purchases in foreign currencies with your BMO Prepaid Travel Mastercard® card, the BMO foreign exchange rate applies.

Insurance coverages included in a BMO Prepaid Travel Mastercard® card are up to 90-day purchase protection and extended warranty coverage increasing the original manufacturer’s warranty period by up to 1 year. Optionally, you can add the CREDIT ALERT service notifying you about changes to your credit record or the InfoProtector 360™ service protecting all the important cards, documents, and devices that you carry with you.

Pros and cons

Here are the benefits of a BMO Prepaid Travel Mastercard® card:

  • A low annual fee

  • No interest applied on purchases and cash advances

  • No yearly minimum income requirements to apply

  • Contactless payment through digital wallets

  • Credit card protection capabilities (the Mastercard Zero Liability Protection policy and ID Theft Protection™)

The drawbacks are:

  • Few insurance coverages included

  • No insurance protection by CDIC for funds loaded into the account balance

How to apply for a BMO Prepaid Travel Mastercard®

To apply for a BMO Prepaid Travel Mastercard® card, click the “Apply now” button on the credit card description page. Then, specify if you have a BMO debit card already and whether you have a Canadian address. 

If you already have a BMO debit card, sign in to your online banking account to proceed with a shorter version of an online application.

If you don’t have a BMO debit card yet, proceed with an online application and provide the following details:

  • Your first name

  • Your middle name (optional)

  • Your last name

  • Your date of birth

  • Your phone number

  • Your address

  • Your social insurance number (optional)

  • Whether you are a tax resident of Canada, the United States, or anywhere else

  • Your employment status

  • Your occupation category

  • Your position

  • The company name

  • Month and year since you work there

  • Work phone number

  • Your sources of income

There are no minimum annual income requirements to apply for a BMO Prepaid Travel Mastercard® card.

How to load funds on my BMO Prepaid Travel Mastercard®?

There are two ways to load funds on your BMO Prepaid Travel Mastercard® card:

  • By transferring funds from your BMO bank account to your BMO Prepaid Travel Mastercard® credit card through online or mobile banking

  • By making a bill payment from your bank account opened at another Canadian financial institution (up to $1,000), with your BMO Prepaid Travel Mastercard® card being a bill payee

How do I report a lost or stolen BMO Prepaid Travel Mastercard®?

If you suspect a lost or stolen BMO Prepaid Travel Mastercard® card, let BMO know about it asap by calling them at 1-800-361-3661 (if you are in Canada or the U.S.) or 1-514-877-0330 (if you are outside North America).

Will BMO automatically reissue my BMO Prepaid Travel Mastercard® after it expires?

A BMO Prepaid Travel Mastercard® is valid for three years from the issuance date. BMO doesn’t reissue these cards automatically, so you will have to order another card once or before the existing one expires. 

Company documents

Terms of Use Show
Privacy Code Show
20.11.2022
-
Last update 01.12.2022