BMO Prepaid Mastercard Review for 2023

BMO Prepaid Mastercard Review

The BMO Prepaid Mastercard is a popular choice among Canada’s best prepaid cards . Why? Because more and more people are opting for prepaid cards as an accessible alternative to traditional credit cards. The BMO Prepaid Mastercard does just that, offering the convenience of a credit card without the hassle of credit checks, interest rates, or the risk of racking up debt. Instead, you can spend your own money everywhere that Mastercard is accepted. In this review, we’ll examine the BMO Prepaid Mastercard and weigh the pros and cons to gauge if it is worth a try.

What is the BMO Prepaid Mastercard?

Offered by The Bank of Montreal (BMO), the BMO Prepaid Mastercard, sometimes referred to as a BMO Travel Prepaid Mastercard, is one of the most well-known prepaid cards in Canada. Only five banks presently offer a prepaid Mastercard in Canada, which makes this BMO card a great option to have. It’s backed by the country’s fourth-largest bank and is considered a very safe option.

How does the BMO Prepaid Mastercard work?

The BMO Prepaid Mastercard works strikingly similar to your favourite credit card , but with one simple difference: you load it with your own money instead of owing a balance. Consider it a gift card that you give yourself. You can use it and reload it again and again. With a traditional credit card, every purchase is a loan and the card limit is the maximum you can borrow.

But with a prepaid card, you are not borrowing. It must be funded with money you already have before you can make purchases. The amount of every purchase is deducted from the card balance, just like how debit card purchases are deducted from your chequing account.

When you’ve spent the balance, you will need to reload it with more money if you want to continue using it. That’s why it is sometimes called a reloadable card. You will also not be able to withdraw more money than what your card contains as there is no overdraft option with prepaid cards.

So because you are using your own money, not borrowing from a credit card issuer, there is no credit check or minimum income required to qualify. However, it still works like a traditional credit card by allowing you to use it in physical stores, online, at bank machines, and abroad wherever Mastercard is accepted. Simply swipe it or enter the required details to use the card. 

When you get your BMO Prepaid Mastercard it will display your name, the date of issue, the date of expiry, bank name, and a CSV code.

BMO Prepaid Mastercard features

The BMO Prepaid Travel Mastercard comes with several features. Unfortunately, this card does not reward your purchases at all, so if you were hoping for points or cash back, you’ll have to go elsewhere. Having said that, there are some benefits to explore:

Global Acceptance

The BMO Prepaid Mastercard is internationally accepted and will work at any location that accepts a Mastercard including physical and online stores. With this Mastercard, you will be able to shop at more than 30 million locations in Canada and abroad. And it works just like a regular credit card allowing you to book things like flights, hotels, rental cars, etc.

Purchase Protection & Extended Warranty

All BMO Prepaid Travel Mastercard holders enjoy complimentary Purchase Protection & Extended Warranty coverage to a combined lifetime maximum of $60,000. With Purchase Protection, most card purchases are covered against theft and damage for 90 days from the date of purchase. Extended Warranty protection covers most purchases by extending the original manufacturer’s warranty by up to 1 additional year.

No Interest Rates

You don’t have to worry about pesky interest charges because the BMO Prepaid Mastercard doesn’t lend on credit. Since there is no borrowing involved, there’s no interest rate to worry about. You will be able to use this card without having to keep an eye on the money owed and manage payment due dates . You can only use the money that you have deposited into your card.

The Bank of Montreal has a mobile app that can be used to manage your BMO Prepaid Mastercard. The app works on both Android and iOS devices, is very easy to use, and takes up very little storage space. With this app, you will be able to keep an eye on your card balance, payment due dates, transaction history and more.

It comes with BMO’s 100% Electronic Banking Guarantee and is safe to use. The app covers all BMO services and can even be used to pay bills, book appointments, and find nearby bank machines and branches. It is highly beneficial for users who want to manage everything online.

Quick & Easy Approval Process

There is no credit check or minimum income required to qualify. BMO is known to approve applications in only 5-7 business days. If approved, the card will be mailed to you. However, there may be some delays if there are issues with your application so make sure to double-check that all the information is correct before you submit.

Free credit score

This is one of the main features of the BMO Prepaid Mastercard. Once you sign up for a card, you will be able to keep an eye on your credit score through the app. This is a free feature designed to help BMO users understand their financial health and ensure their credit score doesn’t go below a certain point. 

This feature can be of great help since finding your credit score can be quite tricky and involves several steps. As a BMO member, all you’ll have to do is log in into your mobile banking app and go to the Credit Score section. The score updates once a month and you can check it as many times as you want without impacting your score.

Financial insights

In addition to credit scores, BMO also offers valuable financial insights to BMO Prepaid Mastercard holders. You’ll be able to see your spending habits including where you’re spending most of your money. This information can help cardholders make the right call.

The system even sends tips on what you can do to improve your spending habits or what has to be done to boost your credit score . These insights are correct and highly valuable, especially for people struggling to stick to their budgets. They’re updated instantly and can be a great way to create a more reliable budget.

Security Features

It comes with Mastercard’s Zero Liability insurance that protects card owners against any financial loss due to fraudulent card use. In addition to this, there’s also Mastercard Identity Check protection to safeguard users when they shop online.

BMO alerts are sent instantly and are meant to help you confirm that transactions on the card are actually yours or if they’re fraudulent. If your card is lost or stolen, you can quickly lock it from the app. Moreover, there are also add-ons in the form of CREDIT ALERT and InfoProtector 360.

Fees & penalties with the BMO Prepaid Mastercard

The BMO prepaid Mastercard is an affordable alternative to a regular credit card, but it’s not entirely free to own. You will have to pay a variety of fees to ensure your card continues to operate smoothly. Here’s a breakdown of costs, penalties, and fees:

  • Annual fee : $6.95
  • Dishonoured payment : $40.00
  • Copy retrieval request : $5.00
  • Foreign transaction fee: 2.5%
  • Card balance refund by Cheque : $10.00
  • Card balance refund by direct/electronic deposit: $3.00
  • Bill payments, cash advances, and cash-like transactions : $5.00
  • Inactivity fee : $5.00 per month 

These charges are revised every now and then. Have a look at the official site for the latest figures or get in touch with customer service agents to ensure you don’t end up paying more than expected. Also, you might be able to avoid some of these costs by being smart, i.e.: don’t let your card go inactive.

Furthermore, you may even find some prepaid cards in Canada that are more affordable and rewarding to own . These are also backed by reputable companies. Make sure to compare different options to find the best fit and don’t just look at annual charges but other costs as well.

How can I get a BMO Prepaid Mastercard?

It is very easy to sign up for a BMO Prepaid Mastercard. The first thing is to ensure you qualify for a BMO Prepaid Mastercard in Canada and meet the eligibility requirements: 

  • You must have a permanent Canadian address
  • You must be of legal age in your province or territory of residence to apply
  • You must not have filed for bankruptcy in the last 7 years

In some cases, you may be able to apply for a card even without a permanent address. In such cases, you will have to visit your nearest branch as applications without a permanent address cannot be filed online. You may be asked to submit certain documents when you visit a branch to get a new BMO Prepaid card.

Fortunately, there are no credit score requirements. Also, you are not required to have or show a source of income to apply for a BMO Prepaid Mastercard.

You can apply for a card even if your credit score is 300, which is the lowest possible score in the country. However, you cannot apply for a card if you have declared bankruptcy in the preceding seven years. You will have to wait for at least seven years to pass since you declared bankruptcy to be eligible for this card.

Assuming you’re eligible, you can go ahead and apply for the card. The process is very easy and only takes a few minutes. You will be asked to provide personal details including your full name, date of birth, and address. Next, you’ll have to provide your financial details and copies of your identification documents.

Acceptable documents include driver’s licences, passports, and resident cards. Moreover, you will also have to submit proof of address such as a utility bill. All documents must be valid and not expired. Also, proof of address must not be older than 90 days.

If everything’s right, the bank will send your card to your mailing address within 5-8 working days. In case there are some issues, you may be asked to submit additional documents that may delay the process. Those without a permanent address will have to visit the branch to receive their card.

Once received, simply follow the instructions that come with the card to activate it. You will have to call the number given on the back of your card and provide the required information to be able to use it. The process will only take a few minutes. Once activated, you will be able to use your card for as long as it has enough balance.

How to load your BMO Prepaid card with money

If you’re an existing BMO client, you can transfer money from your BMO chequing or savings account onto your BMO Prepaid card. To do this, simply sign into your online banking app.

If you’re not a BMO client, you can still load the card with funds from your account at another Canadian financial institution. To do this, you will need to add your BMO Prepaid card as a bill payment payee and treat it like a credit card payment. You will then be able to load the card by making a “bill payment” in the amount you wish to put on the card. The money will then be deposited onto the card in 2-5 business days.

Pros & Cons of the BMO Prepaid Mastercard

BMO Prepaid Mastercards come with several pros and cons. Just like any ordinary credit card, you have to weigh the benefits with the risks. We’ll discuss both here so you can understand why it may be a suitable option for you.

The biggest benefit of this card is the ease it offers. Anyone can apply for a BMO Prepaid Mastercard as it has no credit score requirements . Most users will receive approval within a day and a card will be mailed within a week.

It’s also very safe to use thanks to insurance protection. The company protects cardholders against unauthorized transactions and goes the extra mile to protect against fraudulent use.

Plus, you can shop at both physical and online stores as it’s accepted internationally at more than 30 million stores and over 10 million automated teller machines (ATM) around the world.

The biggest downside is that the money you deposit in your account will not earn you any interest and the card offers no cash back or rewards program. Plus, there’s an annual fee of $6.95 even though you don’t earn rewards or get any special perks.

Since the funds in your BMO prepaid account aren’t CDIC guaranteed, they cannot be used to support pre-authorized recurring payments.

The maximum balance is only $10,000, which can be a problem for users who like to spend lavishly. You may have to keep loading your card, again and again, to ensure it meets your requirements. This can be an issue for some users.

How to add money to your BMO Prepaid Mastercard

It is important to not let your card have little to no balance as it is only as good as the amount it carries. The bank gives several options to deposit money into a card. The easiest method is to use your BMO chequing account . 

BMO allows users to directly transfer money from their BMO account to their prepaid card. You can do this online through the website, through the app, by visiting a branch, or a nearby ATM. The amount will appear on your card within 24-48 hours. The maximum amount for this method is $10,000 and the minimum is only $100.

Another option is to use the bill payment feature. You can register your BMO Prepaid Mastercard as a bill to be paid via mobile banking, telephone, ATM, online or a physical branch. Supported banks include BMO, Scotiabank, BC Royal Bank, CIBC, PC Financial, Laurentian Bank, Alberta Treasury Board, and TelPay. The maximum amount for using this method is $1,000. It can, however, take about 2-5 days for the money to appear in your account.

The bank currently does not support cash transfers. You must have a bank account with BMO or any other financial organization to be able to deposit money into your account. Do not go for this option if you have no bank account at a supported bank.

BMO Prepaid Mastercard expiry

BMO prepaid cards expire after three years of issuance. You will not get a new card automatically. You will have to request a new one before your existing card expires.

If your card has already expired then you will have to apply for a new card by getting in touch with the bank. Any balance remaining on your card when it expires will be refunded to you. You can choose to get the amount transferred to your new card or have BMO use TransUnion Credit Bureaus or Equifax to clear your dues.

The BMO Prepaid Mastercard is among the best prepaid cards in Canada . It is easy to apply for and can be used to shop at any store that supports Mastercard. It works like any other card and can help manage your finances. However, it will not improve your credit score or be helpful in applying for a loan. 

Alternatives to the BMO Prepaid Mastercard

The BMO Prepaid Mastercard, while offering notable features, may not cater to everyone’s needs. For those seeking different advantages or broader functionalities, various alternatives are available. Let’s delve into some other cards that could better align with your preferences.

KOKO Prepaid Mastercard

The KOHO Prepaid Mastercard offers a fresh approach to spending and saving by giving you up to 2% cash back on groceries, dining, and transportation as well as up to 4.5% interest on deposit. The unique app ensures you stay on track with budgeting tools, and automatic savings features. Plus, you can only spend what you load onto the card.

As part of the vast Mastercard network, the KOHO Prepaid Mastercard promises acceptance at millions of locations worldwide, catering to both online and physical store purchases. One standout feature is the Round-Up Savings, where each transaction is automatically rounded up to the nearest dollar, with the difference transferred to your savings—a seamless way to save without even thinking about it. Plus, the real-time notifications ensure you’re always in the know about your spending habits and account balance, enhancing security and awareness.

Neo Money Card

Designed for the modern spender, the Neo Money Card stands out for its digital-first approach. It seamlessly integrates with the Neo app, providing tailored rewards of 2.25% interest on your account balance and an average of 5% cash back based on your spending patterns.

Plus, you’ll get up to 15% cash back on every first purchase you make across a network of over 10,000 partner merchants. Cash back offers near you can be found within the app ensuring you always get the best deals from your favourite brands and local stores. Enjoy instant transaction notifications so that you’re always updated about your expenditures and account balance.

EQ Bank Card

The EQ Bank Card redefines the traditional banking experience allowing you to quickly access the money in your EQ Savings Plus Account. Simply move money from this high-interest savings account to your EQ Bank Card account at the tap of a button.

Not only does it serve as a gateway to a competitive 2.50% interest rate for your savings, but it also offers 0.5% cash back on all your card purchases, no foreign transactions, and all Canadian ATM fees reimbursed to you. The app offers robust online banking features too, helping you manage your money on the go.

What makes the EQ Bank Card even more enticing is its fee-free structure. Like the account, the card comes with no monthly or annual fees or transactional charges. It’s an ideal choice for those who want their money to work harder for them, without any of the traditional banking hassles.

What is the Bank of Montreal

The Bank of Montreal has a very rich history. It was founded in 1817 and has been going strong since then with its head office located in Montreal. The bank, however, opened its operational headquarters in Toronto in 1977.

The bank is globally recognized and made it to the Forbes Global 2000 List, ranking at number 131. It is looked at as a reputable bank as it hasn’t missed a dividend payment in nearly two centuries , since 1829. This makes it a good option for people who are looking to get a prepaid card.

Owned by The BMO Financial Group, the bank provides a variety of services including debit and credit cards, trusts, insurance, securities, deposits, investments, and loans. It is a member of a variety of national and international organizations including the Canadian Bankers Association, Interac, the Canada Deposit Insurance Corporation (CDIC) , Air Miles, Cirrus for Mastercard card users, ATM Industry Association, Mastercard International, and Diners Club North America.

This is very important because these memberships make the BMO Prepaid Mastercard more reliable. Thanks to such partnerships, users can enjoy greater benefits and usage. We’ll look at this and several other aspects of owning a BMO prepaid card in 2022.

FAQs about the BMO Prepaid Mastercard

Still have questions about the BMO Prepaid Mastercard? We’ve got you covered. Checked below for some of the most commonly asked questions:

It’s a card that can be used to pay for things and services online or offline; however, it comes with a specific amount of money that it carries and you cannot go above that amount. Once the balance goes zero or under your required amount, you will have to deposit money into the card to be able to continue to use it.

A prepaid card offers a variety of benefits including ease and fewer worries. Anyone can apply for a prepaid card without worrying about credit scores. These cards offer financial security as there is no risk of spending more than what you can afford to spend. Also, it protects your money as even if the card gets stolen, you will only lose the money that’s stored on it and nothing more. Moreover, some cards even come with protection to protect against unauthorized use.

No, the BMO Travel Prepaid Mastercard is also known as the BMO Prepaid Mastercard. It is not only for travellers and can be used by locals as well. It’s considered a good fit for travellers since it supports international stores and ATMs. However, like most providers, BMO charges a 2.5 percent conversion fee. Using Hardbacon’s Currency Conversion Calculator , you can see how much your dollar is worth in an alternate currency. 

Don’t wait and quickly get your card locked by getting in touch with BMO. You can call 1-800-361-3661 if you are within Canada and the US or 1-514-877-0330 if you are outside North America. The bank will block your card and issue you a new card after verifying your details.

No, the BMO prepaid Mastercard is not a scam. BMO is a well-recognized name in the country and has been offering credit and debit cards including prepaid cards for years. It’s registered, well-established, and secure. Plus, it even comes with guarantees.

avatar

Michael Wight

LinkedIn

Get top content in our free newsletter.

Thousands benefit from our email every week. Join here.

BMO Prepaid Mastercard review

bmo prepaid travel mastercard renewal

  • Rates & Fees

N/A There are no rewards with the BMO Prepaid Mastercard

$6.95 Annual Fee

0.00% Purchase APR N/A

2.50% Foreign Transaction Fee

Fair Recommended Credit Score

$0 Required Annual Personal Income

$0 Required Annual Household Income

Author: Tyler Wade

By Tyler Wade

Updated: December 27, 2023

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Please be aware that some (or all) products and services linked in this article are from our sponsors.

   min read

Compare other BMO credit cards

  • Best BMO credit cards
  • BMO Ascend™ World Elite®* Mastercard®*
  • BMO CashBack® Mastercard®*
  • BMO CashBack® World Elite®* Mastercard®*

Compare other Mastercard credit cards

  • Best Mastercard credit cards in Canada
  • Tangerine Money-Back Credit Card
  • PC® World Elite Mastercard®
  • MBNA True Line® Gold Mastercard®

Compare other prepaid credit cards

  • An in-depth look at the top prepaid cards in Canada
  • KOHO Prepaid Mastercard®
  • Home Trust Secured Visa

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Please be aware this post may contain links to products from our partners. We may receive a commission for products or services you sign up for through partner links.

Quick overview

The BMO Prepaid Mastercard, also known as the BMO Prepaid Travel Mastercard, is a popular choice among Canadians looking for an alternative to traditional credit cards. 

You get the convenience of a credit card without the need for credit checks, interest rates, or the risk of accumulating debt. Instead, you spend your own money wherever Mastercard is accepted (30 million locations in North America). 

This prepaid card does have an annual fee of $6.95, which is a bare bones cost for using the credit card network. There is no interest rate on purchases because you’re using your own money anyway. Unfortunately, this also means you’re not building your credit history and therefore not improving your credit score. 

Who is the BMO Prepaid Mastercard best suited for?

If you’re looking for a credit card’s convenience (e.g. international travel, dining at restaurants) without a credit check and you want to avoid overspending, this card is a great option. 

Pros and cons of the BMO Prepaid Mastercard

No credit check or minimum income requirements for approval.

Accepted internationally at over 30 million locations.

Offers Purchase Protection and Extended Warranty coverage.

No interest rates since it's not a credit card.

Enhanced security features, including Mastercard’s Zero Liability insurance.

No rewards or cash back program.

Annual fee of $6.95.

Various fees, including foreign transaction fee and inactivity fee.

Maximum balance limit of $10,000.

Welcome bonus

There is currently no welcome bonus for the BMO Prepaid Mastercard. 

The BMO Prepaid Mastercard does not offer any points accumulation or cashback rewards.

Key benefits

  • Global acceptance : Accepted at over 30 million locations in Canada and abroad.
  • Purchase protection and extended warranty : Offers coverage against theft and damage for 90 days from the date of purchase and extends the original manufacturer’s warranty by up to one additional year.
  • No interest rates : No borrowing involved, so no interest rates to worry about.
  • Mobile app : Allows users to load funds, manage their card, view transaction history and more.

Insurance coverage

  • Purchase protection : Most card purchases are covered against theft and damage for 90 days from the date of purchase.
  • Extended warranty : Extends the original manufacturer’s warranty by up to one additional year, with a combined lifetime maximum of $60,000.

The BMO Prepaid Mastercard offers additional features such as free credit score monitoring, financial insights to help users understand their spending habits and security features like Mastercard’s Zero Liability insurance and Mastercard Identity Check protection.

How the BMO Prepaid Mastercard compares

The BMO Prepaid Mastercard is a prepaid card. Let’s look at some comparables and other factors to take into consideration when shopping for a credit card like fees, rewards, and additional benefits.

BMO Prepaid Mastercard vs. KOHO Easy Prepaid Mastercard

The KOHO Easy Prepaid Mastercard  is free and you can earn 0.5% interest on your balance, please earn 1% cash back on groceries and transportation. You can also use their Round-Up Savings option to start an automatic savings account. Koho has four plans—Easy is free, Essential is $4 per month but has a credit building feature and you earn more cashback. The Extra plan is $9/month but charges no foreign transaction fees and Everything is $19/month and allows for real-time e-transfers. KOHO is a neo bank and so the card comes with an app to manage all your money including saving up for bigger purchases and helping you budget. 

If you’re looking at the BMO card because you bank with BMO, it may be worthwhile looking at KOHO and shifting all your banking to them to access their full features. 

BMO Prepaid Mastercard vs. Neo Money Card

The Neo Money Card gives you a minimum of 0.5% cash back from 10,000+ partners, including Netflix, Sport Chek and LCBO. According to NEO, on average you’ll earn about 4% cash back every month and there is no limit or maximum you can earn. You also earn 2.25% interest on every dollar in your account. Just like the BMO Prepaid Mastercard, it’s a prepaid credit card, but it also gives you access to the funds in your savings account, similar to the KOHO card. For $4.99 per month, you get 3% cashback on gas and groceries, exclusive offers from Neo’s partners and credit score monitoring. Again, to benefit from the Neo Money Card, you’re better off switching banks entirely to unlock the full features of the card. 

BMO Prepaid Mastercard vs. EQ Bank Card

The EQ Bank Card offers a competitive 2.50% interest rate on savings and 0.5% cash back on all card purchases. It also provides no foreign transaction fees and reimburses all Canadian ATM fees. 

Again, to get the EQ Bank Card, you need to open a savings account first. Then, from your savings account, you can load up your card. BMO does offer a savings account with no monthly fee and a 1.9% interest rate. And as you now know, there is no cash back on their Prepaid Mastercard. For some, the brand name is everything. However,  keep in mind EQ is CDIC insured, they just don’t have brick and mortar branches you can walk into. 

Is the BMO Prepaid Mastercard worth it?

Considering its features, the BMO Prepaid Mastercard is a solid choice for those looking for a prepaid card option. It offers the convenience of a credit card and the assurance of a big bank. 

But its lack of rewards or cashback, and the annual fee and foreign exchange fee hurts a bit given its competitors. 

If you want security, global acceptance, and no interest rates, this card is worth considering (not that the competitors listed above don’t offer similar things).

What is a prepaid card?

A prepaid card is like a gift card that you load with your own money. It allows you to spend up to the amount you've loaded onto the card. Once the balance is depleted, you need to reload it to continue using it.

What are the benefits of owning a prepaid card?

Prepaid cards offer ease of use, financial security, and protection against unauthorized use. They allow users to manage their spending and avoid the risks associated with credit checks and accumulating debt.

Is the BMO Prepaid Travel Mastercard only for travellers?

No, the BMO prepaid card is good for travel because it’s a Mastercard and therefore accepted around the world. Any Mastercard, Visa and most Amex cards are accepted globally, just be mindful of foreign exchange fees.

About our author

Tyler Wade

Tyler Wade has worked in personal finance for over 5 years writing for brands like Ratehub, Forbes, KOHO, and now Money.ca. He was the host and producer of the Real Money Talk podcast. He's the father of two, husband to one, and loves all things tiny.

Latest Articles

The Canadian Chamber of Commerce says women leaders in the corporate world still face barriers, with significant gaps in business ownership, representation and compensation. Women walk in the

Canada lags behind peer countries on female representation in management: report

Greater Toronto home sales and listings were up in February from last year, but adjusted sales were down from a month earlier, the region's real estate board said Tuesday. A west-end Toronto

Toronto home sales up in February from last year as consumers eye rate cuts

Equifax logos are shown on paper in Toronto on Oct.17, 2019. Equifax Canada says Ontario and British Columbia saw mortgage delinquency rates soar in the fourth quarter of 2023, surpassing pre

B.C., Ontario mortgage-holders increasingly missed payments in Q4, Equifax says

Canada's financial intelligence agency says it has been hit by a cyber attack. A man uses a computer keyboard in Toronto in this Sunday, Oct. 9 photo illustration.

Financial watchdog Fintrac hit by cyberattack, classified systems not involved

A Lynx Air Boeing 737 jet sits at a gate at the international airport in Calgary on Friday, February 23, 2024. Flair Airlines CEO Stephen Jones says he still hopes to add several Lynx Air pla

Flair Airlines hopes to get some Lynx planes, even after shutdown scuttles deal

An advertisement for bitcoin, one of the cryptocurrencies, is displayed on a building in Hong Kong, on Nov. 18, 2021. Bitcoin briefly touched an all-time high Tuesday of more than US$69,000 b

Bitcoin briefly touches all-time high before retreat

The content provided on Money.ca is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.

Your browser is out of date.

We highly encourage you to update your browser to the latest version of Internet Explorer, or use another browser such as Google Chrome or Mozilla Firefox.

bmo prepaid travel mastercard renewal

BMO® Prepaid Travel Mastercard®

Spend with confidence with a reloadable, secured credit card, and use it wherever Mastercard is accepted.

  • Get cash or make purchases anywhere Mastercard is accepted while receiving protection against unauthorized use — making it safer than carrying cash.
  • Use your prepaid card at any of the 30 million locations Mastercard is accepted, and get cash at over a million ATMs.
  • Extended Warranty

BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information

Last updated 10/14/2022. Check with the credit card issuer for the most up-to-date information before applying.

Find errors in the information for this credit card? Report this listing.

Other cards you may be interested in

TD Business Cash Back Visa* Card

Report Credit Card Listing

  • Describe the issue:

Report this listing

MILESOPEDIA logo winter

BMO Prepaid Mastercard ® *   🇨🇦

  • Prepaid card
  • Purchase Insurance
  • Accepted at Costco

bmo prepaid travel mastercard renewal

Fees & Conditions

Travel insurance.

There may be a daily maximum amount depending on the type of fees paid

Other Insurance

  • Best BMO Credit Cards - Bank of Montreal - March 2024
  • Canada's Best Credit Card Offers - March 2024

*Terms and conditions apply

BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information

Money, Eh?

Build Your Wealth in Canada

  • BMO Prepaid Mastercard Review
  • Credit Cards

Up to 5% cashback, rewards, travel perks and more.

Learn More at Neo Financial

In Canada, the use of prepaid cards is on the rise. Many people prefer using prepaid credit cards over regular credit cards for a variety of reasons. The most obvious is that traditional credit cards can trap you in an infinite loop of overspending and debt. On the other hand, prepaid credit cards are imbued with a feeling of financial security; since you can’t spend what you haven’t earned, you won’t have to worry about any debt payments. Prepaid cards are also quite popular among the masses due to the simplicity they offer. There are no hidden interest rates, late payment charges, fears of crossing the credit limit, or other dues that might catch you off guard. All you need to do is to load up your card, and you can withdraw your funds anytime, anywhere – without incurring any extra charges.

BMO Prepaid Mastercard – A Brief Overview

The Bank of Montreal is the only bank out of the top 5 Canadian banks offering a prepaid Mastercard. So if you are looking for a prepaid Mastercard backed by a reputable company, BMO Prepaid Mastercard is your best bet. With this product offered by the Bank of Montreal, enjoy a secure and reliable payment  method that is essentially as convenient as a regular credit card. All you need to do is load up your card using online banking or the BMO Mobile app, and you can use this Mastercard to shop across 30 million locations. 

BMO Prepaid Mastercard offers a variety of features to its users. Here is a list of the most notable features you’ll get by signing up for this prepaid Mastercard.

Interest rate

The BMO Prepaid card comes without any interest rate. However, all prepaid cards boast this feature. Since users are not borrowing money from the bank while using a prepaid card, there are no interest rates or charges that you’ll have to deal with.

Approval Time

As one of the instant-approval credit cards in Canada , getting your Mastercard request approved is quick and easy. Once you’ve applied, it usually takes 5-7 business days to receive the card.

Reward Rates

With a BMO Prepaid Mastercard, you won’t be offered any reward rates. If you are looking for reward rates , consider using BMO Eclipse Visa Card, but this card comes at a hefty annual fee of $120.

Load Limits on BMO Prepaid Travel Mastercard

You can load your prepaid card with funds ranging from $100-$10,000. However, the maximum amount you can load at one time is $10,000 (using Bank of Canada). Using other modes, such as online banking or mobile app, this load limit comes to $1000.

How To Load Money

There are two ways you can load money in your prepaid Mastercard.

  • Using your BMO Chequing Account. If you have a BMO savings or chequing account, you can transfer funds directly from your account to your prepaid card using BMO Mobile banking. You will get the funds on your prepaid card within a day.
  • If you do not have a BMO account, register your BMO prepaid card as a ‘bill payment’ with your financial institution. You can transfer funds from your financial institution to your prepaid card up to $1000 through any ATM, telephone, or online mode of payment.

BMO Prepaid Mastercard expires after three years. You won’t be automatically offered a new card, even if your card is active. If you plan to renew your card, it is better to ask for renewal before the expiry date. When your card expires, you will have to apply for a new card by calling customer care.

Balance Refund

If any balance remains on your card when the card expires, it will be refunded. In addition, you can opt for it to be transferred to your new account, or BMO will use Equifax or Transunion Credit Bureaus to clear your dues.

Security Policy

BMO doesn’t allow anyone else to use your card. Your card is personalized for you, and unless you share your banking credentials with anyone else, no one can use your BMO prepaid card for unauthorized purchases.

In case of a lost or stolen credit card, you can temporarily lock or reset your PIN to prevent any other person from using it.

A Breakdown of Rates and Fees

Here is a complete breakdown of all of the significant fees charged by BMO for their flagship prepaid card.

Foreign currency conversion

BMO offers an exchange rate dictated by Mastercard International. These are the percentage conversions BMO will provide you on foreign currency.

For purchase: +2.5%

For refund: -2.5%

Annual Card Fee

The BMO Mastercard comes at a reasonable annual card fee of about $6.95. This fee will be deducted from your bank account on the first of every month.

Inactivity Fee

When your card balance reaches the $0.00 mark, or in case your card expires, you will also be charged an inactivity fee. This inactivity fee comes at $5.00 per month.

Dishonoured Payment/ Transaction

A dishonoured payment is a fee that you will be charged when attempting to make a payment using your debit card but do not have enough funds to complete the payment. You will be charged $40.00 in case of a dishonoured payment or transaction.

Cash Balance Refund Processing Fee

A cash balance refund via direct or electronic deposit will cost you $3. However, doing so while using a cheque will see the charges balloon up to $10.

Am I Eligible for a BMO Prepaid Mastercard?

There are no harsh eligibility criteria for a BMO Prepaid Mastercard. However, you need the following to be eligible for a BMO Prepaid Mastercard.

  • You need to be a Canadian citizen.
  • Be of legal age in your province.
  • A permanent Canadian address.

Unlike applying for a credit card, you are not required to have any fixed income or credit history while using a prepaid Mastercard. Therefore, you also don’t need to worry about any minimum credit rating or any income threshold.

Another criterion that might make you ineligible for a Prepaid Mastercard is if you’ve declared bankruptcy in the last seven years.

How to Apply for BMO Prepaid Mastercard

If you’ve made up your mind about purchasing a BMO Prepaid Mastercard, here is what you need to do to sign up.

  • Confirm your eligibility for a BMO Prepaid Mastercard on BMO’s website.
  • Enter your personal information, including date of Birth, Name, Address, etc.
  • The third step requires you to enter your financial information.
  • BMO will carefully go over your application. If everything pans out, BMO will mail you your Mastercard within 5-8 business days.
  • Once you receive your Mastercard, activate it by calling the number on the back of your card.

Who Should Opt for the BMO Prepaid Mastercard?

This card would be best for teenagers with an over-spending habit. However, since this card only allows you to spend what you’ve already credited, it comes with spending limits. Interestingly enough, teenagers are the most likely demographic to buy a prepaid card; since they are the ones who usually get in trouble for not putting a stop to their monthly spending.

If you want to purchase a debit card without opening a bank account, a BMO Prepaid Mastercard is the way to go. Unlike credit cards, prepaid cards do not require you to open an account in any financial institution. As a result, you can use this card as your very own ‘budgeting tool.’ This card’s purchase fee/ monthly service fee is also quite reasonable, and you won’t have to break the bank to get this prepaid card.

Several consumers refrain from using their debit or credit card in certain situations due to privacy and security reasons. If you are one of those fellows, then this prepaid card is for you. Prepaid cards confer an additional layer of security to their users.

What Are Some Drawbacks of Using a BMO Prepaid Mastercard?

One of the significant drawbacks of using a BMO Prepaid Mastercard is that the funds in your prepaid account are not CDIC guaranteed. As a result, this card cannot be used for pre-authorized recurring payments. Unfortunately, this means that you can’t rent a car using this card or benefit from loans.

You won’t earn any interest on your deposited funds, and there are no rewards or cashback options provided on this prepaid card. Furthermore, there is no purchase protection or purchase protection insurance for prepaid users. As mentioned before, there is a maximum card balance limit of $10,000 on this card, and this might be a problem for those who are planning to spend big. This reloadable card is best for small-scale online purchases or bill payments.

The Final Verdict

Not all cards are created equal. Similarly, what might work for you might not work for others. In short, this card is best for those who wish to use it for bill payments, small expenditures, and those looking to purchase a card without opening a chequing or savings account. In addition, this card suits those who regularly travel across Canada and need a reloadable or secure credit card. A BMO Prepaid Mastercard is also quite different from gift cards and store-bought cards since it has much greater functionality.

On the other hand, if you plan to take a loan, earn bonus rewards on your deposits, or benefit from insurance policies, this card won’t be a good fit for you. However, you can explore other BMO cards for these benefits.

The Best BMO Credit Cards

Best cash back credit cards in Canada

Best Credit Card For Dining Out

BMO Prepaid Mastercard

If you do not have a credit or debit card, you can make online purchases with a prepaid card. A regular credit card to qualify requires a credit check. If you have a bad credit rating or no credit history, you may not be eligible. There is no credit check with a prepaid credit card , but you can get it at a drugstore, an office supply store, a gas station or a supermarket and use it immediately.

If nobody is willing to add you to their credit card as an authorized user, a prepaid credit card is an alternative. Prepaid credit cards use cards from payment networks such as Visa, Mastercard and American Express, generally accepted online.

The main advantages of prepaid cards are convenience and better money management. With a reloadable prepaid card, you can easily make cashless payments, simplify the management of personal expenses and avoid credit checks. Cheap Prepaid Cards are a safe and convenient way to manage money for those who wish to avoid credit but can not qualify for a checking account through ChexSystems.

Like your bank card, you can use rechargeable Prepaid Cards to access cash at an ATM, pay bills, make online purchases, and send money to friends and family. In addition, you can set a monthly budget and spending limits with a prepaid card to ensure you don’t spend too much. Prepaid cards are the right choice if you want to limit impulse spending and reduce your access to easy credit and debt.

The only advantage of a prepaid travel card is that you never pay interest from a cost point of view. If you use it at an ATM, you pay $1.50 for each BMO-AMV machine in Canada and $4.50 per machine outside of Canada and the United States if you use it there. This seems like a way for travellers to get a check without paying a fee, but you have to pay the $9.95 for the MasterCard.

All amounts apply to the entire BMO Prepaid Travel Mastercard account, including any additional cards in the account. The new Mastercard prepaid travel card , launched yesterday by the Bank of Montreal, does not incur fees or service charges.

If your financial institution does not provide billing on your BMO Prepaid Travel Card, please visit your local BMO office to open a deposit account. If you have a BMO savings account or check account, you can transfer funds from that account via BMO Online Banking to your card. Please see BMO’s Prepaid Travel Mastercard Card Card Agreement with the cardholder accompanying your card for full details of card usage and fees.

KOHO Prepaid Visa Card is a prepaid card for cash lovers. Use it as a prepaid option if you want to stick to your budget and earn rewards. It works like a debit card, but it connects with your KOHO Prepaid Visa Card spending account. The amount you spend on the card is determined by your balance, which acts as a reward card so that you can earn 0.5% cash on purchases over $2 or $3 in each category with the card at an additional cost. You can also obtain up to 12% interest on your balance if you choose to have the card in an account and move it from an issue account to a savings account, but you need to ensure that you set up a direct deposit.

You will receive an interest rate of only 0% on initial purchases for six months from the date of opening the account. Earn 2% cashback on every dollar spent on eligible gas and groceries up to $2,500 spent. Enjoy an introductory 0% APR for the first 12 months you open your account and no annual fee.

The prepaid credit card is Canada’s secure credit card alternative. Several pre-paid Visa cards are issued by the major banks, including CIBC and Scotiabank, but the best deals are the new financial technology companies.

Prepaid credit cards are issued by banks, retailers and other financial institutions using the payment networks Visa, Mastercard and American Express. They resemble gift cards, but instead of being preloaded with money, use them to make payments as with a credit card.

This is a big question because it highlights how confusing the different credit and debit cards can be. The short answer is that prepaid debit cards don’t help you build up your credit history.

Regular credit cards allow you to pay off debts and how you pay them off is an essential factor in your credit rating. If you use a debit card, the transaction costs are deducted from your checking account. As you do not borrow money, prepaid card accounts are not reported to credit agencies and affect your credit rating.

BMO Prepaid Travel Mastercard’s positive reviews have focused on card reliability and security. There have not been many negative comments other than the usual about prepaid cards and the fact that they do not increase your credit rating and occasionally have problems when misused. Capital One’s Secured Mastercard (r) is designed for those looking to rebuild their credit.

The Mogo Visa Platinum Prepaid Card is an excellent alternative to Canada’s prepaid Visa cards. The BMO Prepaid Mastercard Review 2021 will focus on low-fee, interest-free prepaid options and their pros and cons, fees and features.

  • https://www.theglobeandmail.com/globe-investor/investment-ideas/travelling-bmo-card-option-not-the-best-choice/article18139905/
  • https://www.greedyrates.ca/blog/prepaid-cards-canada/
  • https://www.bestcards.com/credit-cards/bmo-harris-bank-cash-back-mastercard/
  • https://docplayer.net/12818561-Benefits-guide-bmo-prepaid-travel-mastercard-your-travel-payment-card.html
  • https://www.doughroller.net/credit-cards/prepaid-cards-build-credit/
  • https://www.experian.com/blogs/ask-experian/do-prepaid-credit-cards-help-credit-scores/
  • https://reviewlution.ca/reviews/credit-cards/bmo-prepaid-mastercard/
  • https://www.savvynewcanadians.com/prepaid-credit-cards-canada/

Recent Posts

404 Not found

  • Locations Find
  • International
  • At a Glance
  • Our Strategy
  • Our Stories
  • Investor Relations

bmo prepaid travel mastercard renewal

BMO Harris Bank expands availability of True Name™ for Mastercard

June 8, 2020 | Diversity, equity and inclusion

BMO Harris Bank has now expanded the availability of Mastercard’s True Name feature to additional payment card types. Members of the transgender and non-binary communities now have the ability to use their true first name on BMO Harris Bank consumer credit cards and small business debit and credit cards without the requirement of a legal name change.

BMO remains the only company globally to offer this option to our customers.

Mastercard developed the True Name initiative in 2019 in response to the need for banking cards to reflect the true identities of our transgender and non-binary customers, and alleviate misrepresentation and discrimination for the transgender and non-binary communities. In December 2019, BMO Harris Bank became the first issuer globally to implement True Name on the bank’s personal Debit Mastercard cards and ATM cards.

True Name is one example of how BMO is fulfilling its bold commitment to zero barriers to inclusion in the financial system.

“Breaking down barriers to inclusion and supporting our customers requires a commitment to creating products that not only represent our BMO values but also serve the needs of our customers,” said Denise Press , head of retail and small business payments for BMO Harris Bank. “That is why we are proud to work alongside Mastercard to expand the availability of True Name to BMO Harris consumer credit and business debit and credit customers, enabling them to feel at ease when using their cards that reflect their true names. It is an absolute privilege to create products that make a difference in the everyday lives of our customers.”

One customer recently shared their experience with True Name – watch the customer’s perspective here .

Current and new cardholders across the U.S. can request a True Name card by calling 1-888-340-2265 or by visiting one of our branch locations. Information on BMO’s True Name for personal and business credit, debit and ATM cards can be found at BMOHarris.com/TrueName.

This launch comes just in time as we celebrate LGBT2Q+ individuals in our community during Pride Month and our commitment to zero barriers on inclusion.  Even though we are unable to celebrate the way we usually do, there are still ways that we can come together to show our pride .

Related Insights

Scholarship recipients on stage at event

Breaking barriers: supporting the next generation of Black lawyers

On February 17, six future Black law professionals received scholarships at the BMO-sponsored 33rd Annual Black Law Students’ Association of Canada (BLSA Canada) National Conference and Gala in downtown Toronto. …… Read more

Diversity, equity and inclusion

A selfie of Tina Hobbs

How Tina Hobbs is helping first-time homebuyers realize their dream

Home ownership is a significant wealth-building tool that sets future generations up for success. Tina Hobbs, CRA Mortgage Manager – Homebuyer Specialist, recently shared her family’s experience with historical barriers…… Read more

Diversity, equity and inclusion , Financial inclusion

Shanelle McKenzie and Kim Knight of The Villij

BMO celebrates barrier-breaking Black-led businesses

“When we started in 2017, we didn’t see anybody like us doing this,” says Shanelle McKenzie, Cofounder and Director of Community at The Villij. “One of the barriers we faced…… Read more

IMAGES

  1. Prepaid Travel Mosaik MasterCard

    bmo prepaid travel mastercard renewal

  2. BMO Prepaid Travel Mastercard rewards and benefits review Jan, 2024

    bmo prepaid travel mastercard renewal

  3. Mastercard

    bmo prepaid travel mastercard renewal

  4. AIR MILES, CashBack, Travel, No Fee, Student: BMO MasterCard

    bmo prepaid travel mastercard renewal

  5. BMO CashBack World Elite Mastercard

    bmo prepaid travel mastercard renewal

  6. BMO World Elite Mastercard

    bmo prepaid travel mastercard renewal

VIDEO

  1. uboa and mado leave las vegas

  2. DAILY MIDNIGHT PRAYER ALTAR II 14 FEBRUARY 2024 II 100 DAYS OF SPIRITUAL WARFARE (DAY 45)

  3. New Dawn Camp

  4. TP Link LTE Router: So überwachst du dein Balkonkraftwerk auch ohne Internet

  5. 5BB Broadband

COMMENTS

  1. Prepaid Mastercard

    New to CanadaBuild your credit history. Pre-paidA reloadable, secure Mastercard. BusinessEarn rewards, AIR MILES, and more. Digital Wallet & Tools. BMO PowerSwitchTransfer your pre-authorized payments. Google PayPay securely using Google Pay. BMO PaySmartPay your credit card off in interest-free instalments.

  2. PDF Important information about BMO Prepaid Travel Mastercard

    By Electronic Deposit or Direct Deposit $3.00 Cash advance fees — Automated teller machine (ATM) or Mastercard accepted Financial Institution: Cash advances, cash-like transactions and bill payments* in Canada $5.00. Cash advances and cash-like transactions outside of Canada $5.00 Inactive fee: After card expiry date or until card balance has ...

  3. PDF BMO Prepaid Mastercard

    Your BMO Prepaid Mastercard is personalized with your . name, just like a regular credit card, and will be valid for 3 years. 1. Making purchases. ... You may renew your card prior to it expiring by calling our Customer Contact Centre at 1-800-263-2263. If your card expires, the account will be closed and ...

  4. PDF BMO Prepaid Travel Card

    Customer Contact Centre. 1-800-263-2263 8:00 am - 11:00 pm (local time), 7 days a week For clients who are deaf or hard of hearing, BMO supports calls (24/7) from third party relay service providers trained to relay communications through message relays (MRS) or video relays (VRS).

  5. BMO Prepaid Mastercard: the full review 2024

    All BMO Prepaid Travel Mastercard holders enjoy complimentary Purchase Protection & Extended Warranty coverage to a combined lifetime maximum of $60,000. With Purchase Protection, most card purchases are covered against theft and damage for 90 days from the date of purchase. Extended Warranty protection covers most purchases by extending the ...

  6. Manage Your Credit Card Account Online

    Finding your eStatement through the account summary section of BMO Digital Banking: Select your credit card account from the Account Summary section. Select View Statements. Make your statement selection. Statement downloads and eStatement notifications gives you the freedom to simplify and go paperless! Simply click on "going paperless" from ...

  7. BMO Prepaid Mastercard Review and Alternatives in 2024

    The BMO Prepaid Mastercard has a $6.95 annual fee. While this is a low fee, you could waive fees entirely on your prepaid card by opting for the Neo Money card instead. Other fees that may apply include: Supplemental card: $6.95 each. Dishonoured payment: $40. Foreign currency conversion: 2.50%.

  8. Mastercard Online Banking

    BMO Prepaid Travel Mastercard ® Travel insurance. Compare Travel Insurance Plans ; Single Trip Plans ; Multi - Trip Plans ; BMO Mastercard ® Travel Insurance ; Get started. Call travel services at 1-877-225-5266; Call travel insurance at 1-800-661-9060; Get a travel insurance quote; Back

  9. PDF 50382032 ENG BMO Cardholder Agreement

    to your prepaid credit card and BMO will refund the payment to the originating account. The maximum amount you can load into the account is CDN$10,000. The maximum credit balance on the account, including any additional cards, is CDN$10,000. You can use your card to make a purchase wherever your card's network provider is accepted.

  10. PDF BMO® Mastercard Travel Protection with Trip Cancellation

    Mastercard . means a Mastercard card issued by BMO and . for which BMO has received and approved the Primary Cardholder's request to include this insurance as a feature of the card. Medical Condition . means any Sickness, Injury or symptom. Mysterious Disappearance . means when the article of . personal property in question cannot be located ...

  11. BMO Prepaid Mastercard Review 2024

    BMO Prepaid Mastercard vs. Neo Money Card. The Neo Money Card gives you a minimum of 0.5% cash back from 10,000+ partners, including Netflix, Sport Chek and LCBO. According to NEO, on average you ...

  12. Travel is back and the BMO AscendTM World Elite Mastercard is soaring

    Offers the highest rewards points for travel on any premium flexible travel card in Canada * ; TORONTO, May 10, 2022 /CNW/ - As many Canadians head back to the airport for a long-awaited vacation, BMO Financial Group has announced changes to the BMO Ascend World Elite Mastercard - helping Canadians go further. The card, formerly the BMO World Elite Mastercard, now offers the highest rewards ...

  13. BMO® Prepaid Travel Mastercard®

    BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information. Last updated 10/14/2022. Check with the credit card issuer for the most up-to-date information before applying. Find errors in the information for this credit card? Report this listing.

  14. BMO Prepaid Travel Mastercard

    Included. Amount. Duration. Extended Warranty. Purchase Protection. Mobile Device Insurance. Price Protection. The BMO Prepaid Travel Mastercard is the best prepaid card for your international purchases. Get more information here.

  15. Tired of Travellers Cheques?

    "This card provides a secure and convenient way to carry funds, help manage a budget and still enjoy many of the same benefits of BMO's Mosaik MasterCard." To promote the Prepaid Travel Mosaik MasterCard, BMO Bank of Montreal is holding a Purchase, Load & Win Contest with a grand prize of 50,000 AIR MILES reward miles and $1,000 loaded onto the ...

  16. BMO Prepaid Mastercard Review

    Load Limits on BMO Prepaid Travel Mastercard. You can load your prepaid card with funds ranging from $100-$10,000. However, the maximum amount you can load at one time is $10,000 (using Bank of Canada). Using other modes, such as online banking or mobile app, this load limit comes to $1000.

  17. BMO among Select U.S. Banks to Offer Digital Accounts ...

    Renew my mortgage ; Home refinancing options ; Buy my next property ; Get in touch with us; ... BMO Prepaid Travel Mastercard® ... Multi - Trip Plans ; BMO Mastercard® Travel Insurance ; Get started; Call travel services at 1-877-225-5266; Call travel insurance at 1-800-661-9060; Get a travel insurance quote;

  18. BMO Named One of the World's Most Ethical Companies by Ethisphere

    BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.3 trillion as of January 31, 2024.Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers ...

  19. Travel

    Book travel any way you like using your BMO credit card at time of purchase. Select the Pay with Points tab above, and from the 'Eligible for Redemption' section, choose any travel purchase you made within the last 90 days that you want to redeem for. 28. Select the number of points you want to apply to your transaction.

  20. BMO Launches Mobile Wallet for Virtual Cards with Mastercard and Extend

    CHICAGO and TORONTO, Aug. 28, 2023 /CNW/ - BMO Commercial Bank clients in the U.S. and Canada now have access to even greater payment management functionality with the launch of Extend for BMO app. The app features new functionality that will give cardholders the power to create and push virtual cards to their employees' mobile wallets ...

  21. BMO Harris Bank first to offer True Name feature for debit cards

    November 8, 2019 | Customers. Mastercard and BMO have announced that BMO will be the first bank globally to implement True Name TM on BMO Harris Mastercard Debit Cards in the U.S. The new offering will allow BMO Harris customers to use their chosen name on the front of their cards, without the requirement of a legal name change.

  22. Frequently Asked Questions (FAQs)

    What is Mastercard doings to alleviate that limited supply of BINs? To expand supply, Mastercard is rolling from an additional 50,000 six-digit BINs (222100-272099). To will well double the exits supply of Mastercard BINs - make distributor to accept mill more transactions and our issuers to continue to support business growth.

  23. BMO Harris Bank Refreshes Cash Back Mastercard with More Value and

    CHICAGO, March 15, 2022 /CNW/ - BMO Harris Bank today announced the refresh of its BMO Harris Bank Cash Back Mastercard with greater cardholder value and new benefits. The refresh provides richer cash back rewards for customers' everyday spending without them having to make any changes. BMO cardholders can now earn 5% cash back on streaming ...

  24. Banking with integrity: an interview with BMO's Chief Ethics Officer

    Renew my mortgage ; Home refinancing options ; Buy my next property ; Get in touch with us; ... BMO Prepaid Travel Mastercard® ... Multi - Trip Plans ; BMO Mastercard® Travel Insurance ; Get started; Call travel services at 1-877-225-5266; Call travel insurance at 1-800-661-9060; Get a travel insurance quote;

  25. BMO Harris Bank expands availability of True Name™ for Mastercard

    BMO Harris Bank has now expanded the availability of Mastercard's True Name feature to additional payment card types. Members of the transgender and non-binary communities now have the ability to use their true first name on BMO Harris Bank consumer credit cards and small business debit and credit cards without the requirement of a legal name change.