Best prepaid travel cards in Canada in 2026

Looking for the best prepaid travel cards in Canada? This guide compares five options for spending abroad, including their currency conversion costs, account fees, rewards and ATM charges.

The best choice depends on how you travel. You might prioritise holding foreign currencies, avoiding card foreign transaction fees, earning cashback or keeping your travel budget separate from your everyday spending.

We've included the Wise debit card alongside four prepaid cards because it offers a similar way to spend money you already hold. Compare each option’s total costs rather than assuming a prepaid card is always the cheapest choice.

Quick summary: Prepaid travel cards in Canada

Best prepaid travel cards in Canada

A prepaid card lets you spend from money loaded onto the card rather than a credit limit. It can help you manage a travel budget, although fees, acceptance restrictions and merchant holds still matter.

While many travellers consider a no foreign transaction fee credit card, prepaid and debit cards are alternatives if you prefer spending your own funds. Application requirements vary: for example, BMO says its prepaid card requires a soft credit check that does not affect your credit score.

Here is how the cards compare for international spending.

Card acceptance is not guaranteed at every merchant or ATM. Check current terms, destination restrictions and any fees shown before confirming a transaction.

Subscription charges, card FX fees and international transfer fees are separate costs. A card with no foreign transaction fee can still involve currency conversion, ATM or account charges.

Wise

• Hold and exchange multiple currencies.
• Spend directly from a sufficient balance in the purchase currency.
• Use automatic conversion when needed, with the applicable rate and fee.
• Send international transfers and receive payments using supported account details.

Open a Wise account online or in the app and order a card for spending from your account balance.

Wise supports holding 40+ currencies. You can convert money before travelling or let the card convert when you pay. Automatic conversion does not let you choose any exchange rate you want: the applicable rate and conversion fee still apply.

Standard card ordering is free in Canada, and there is no monthly account subscription. Optional express delivery, replacement cards and certain transactions can incur charges.

Wise’s Canadian pricing page currently lists conversion fees from 0.19%, depending on the currency and transaction. Check the quote for your actual cost. Receiving fees also vary by currency and payment method.

Canada Post Cash Passport – preloaded travel currencies

• Supports seven currencies, including USD, EUR, GBP and MXN.
• Prepaid Mastercard for spending where accepted.
• Available to purchase through post offices, subject to availability.
• No card purchase fee abroad when you have enough of the transaction currency.

Canada Post Cash Passport can suit travellers who want to set aside a budget in supported currencies before departure. Confirm availability with your chosen post office rather than assuming immediate pickup is guaranteed.

The card costs CAD 15 to purchase, and reloading costs CAD 3. Loading and converting funds can involve an exchange-rate margin.

A 3.25% foreign exchange fee applies when conversion is required, including where the required currency is unavailable or its balance is insufficient. Canadian merchant transactions incur a 1.5% fee.

A CAD 2.80 monthly inactivity charge may apply after 12 months without use or reloading, subject to the terms and applicable law. No balance means no inactivity fee. ATM withdrawals have separate charges.

BMO Prepaid Mastercard – a separate spending balance

• Load funds before making purchases.
• Top up through BMO online or mobile banking.
• Use where prepaid Mastercard is accepted.
• A soft credit check is required, without affecting your credit score.

The BMO Prepaid Mastercard can suit customers who want a separate balance for purchases and travel. BMO also describes loading options for customers of other financial institutions.

The annual fee is CAD 9.99. Foreign-currency purchases use Mastercard’s exchange rate plus 2.5%, and cash withdrawals carry a CAD 5 charge. Other fees can apply.

This is a purchase card rather than a credit card, and it does not charge or pay interest. However, that does not mean cash withdrawals or all other transactions are free.

KOHO – cashback and international transfers on every plan

• Core is free and includes access to international money transfers.
• Extra and Everything have no card foreign transaction fees.
• Cashback and interest vary by plan.
• Transfers to 190+ countries are available on Core, Extra and Everything.

KOHO offers a CAD account and prepaid Mastercard with three personal plans: Core, Extra and Everything.

Core costs $0/month and charges a 1.5% foreign transaction fee on foreign-currency card spending. Extra costs $18/month or $144/year, and Everything costs $22/month or $177/year. Both paid plans have no foreign transaction fees.

All prices are in CAD. Annual subscriptions are alternatives to monthly billing. Core also offers up to 6.5% additional cashback at selected merchants. Rewards and interest are subject to current product terms.

KOHO says international transfers can arrive within 30 minutes, with competitive exchange rates and no hidden fees. Actual timing varies. Review the transfer quote before confirming: access on a free plan does not mean every transfer is free.

Extra and Everything also offer reimbursement for one eligible international ATM withdrawal fee per month. Contact KOHO support to claim and check the current conditions. Operator charges vary rather than being universally fixed at $2–$3.

Loading charges can depend on the method and plan, so check the app before adding money rather than assuming every top-up is free.

Neo Money card – cashback and optional memberships

• Available with Neo Chequing and existing Neo Everyday accounts.
• Free Essentials membership.
• Eligible gas, grocery and partner cashback.
• Additional benefits through paid memberships.

The Neo Money card spends funds from an eligible account and is separate from Neo’s credit cards. You can request it through the Neo app or website.

The card earns 1% cashback on eligible gas and grocery spending, subject to monthly spending limits. Partner offers have their own conditions.

Neo’s current memberships include free Essentials, Build at CAD 9.99/month and Grow at CAD 14.99/month. Neo Start is advertised as coming soon, so check availability before relying on its benefits.

The Money card’s standard foreign transaction fee is 2.5%. Grow provides eligible FX-fee rebates on the first CAD 10,000 of foreign spending per month. The fee is charged initially and returned after the transaction posts.

Upcoming ATM change: From January 1, 2027, Neo has announced a CAD 1.50 Money card cash-withdrawal fee, waived with Start, Build or Grow. ATM operator charges can apply separately.

Is it worth getting a prepaid travel card?

A prepaid travel card can help you budget and manage spending abroad. You load money before spending, making it easier to track your travel budget without borrowing on a credit card.

Some cards have no subscription fee, while others charge monthly or annual fees in exchange for additional benefits. Whether a card saves you money depends on its exchange rates, currency conversion charges and withdrawal fees.

Multi-currency options can also let you convert money before travelling. However, converting in advance doesn’t guarantee a better exchange rate than converting when you spend.

Are prepaid travel cards safe?

Prepaid travel cards offer security features that can help protect your money, but you should still keep your PIN and account details private, monitor transactions and report suspicious activity promptly.

Many providers let you freeze your card in their app if it goes missing. Others require you to contact customer support. Check the process before travelling and keep the provider’s emergency contact details accessible.

A separately funded travel card can help you keep your travel spending apart from your everyday finances. However, protection against unauthorised transactions depends on the card’s terms and how promptly you report the problem.

Some providers, including Wise, also offer digital cards for supported online and mobile-wallet payments.

Is my money protected?

Protection depends on the provider, the product and where your funds are held. Financial technology companies are not necessarily banks, and their regulatory requirements are not identical to those of banks.

Eligible deposits held at a Canada Deposit Insurance Corporation (CDIC) member institution may qualify for deposit insurance. For money managed through a financial technology company, coverage depends on the deposit arrangement and whether the applicable requirements are met. CDIC protection relates to the failure of the member institution holding eligible deposits.

You should not assume that every prepaid card balance is insured. For example, BMO’s disclosure states that money loaded onto its Prepaid Mastercard is not a CDIC-insured deposit.

Safeguarding arrangements and protection against unauthorised card transactions are separate from deposit insurance. Read the provider’s explanation of how it protects your funds before loading a substantial balance.

What are the advantages of prepaid travel cards?

Prepaid travel cards can reduce the amount of cash you need to carry and help you keep track of your spending. Loading a separate travel balance can also make budgeting easier.

Depending on the provider, useful features may include:

• Holding and spending multiple currencies
• Managing your card and viewing transactions in an app
• Freezing a misplaced card
• Earning cashback on eligible purchases
• Accessing international transfers
• Avoiding a separate foreign transaction fee, although conversion fees or subscription charges may still apply

Open a Wise account, for example, to hold multiple currencies, send international transfers and spend using a linked debit card. Wise uses the mid-market exchange rate with a separate conversion fee when currency exchange is needed.

KOHO offers another approach: a CAD account with a prepaid Mastercard and plan-dependent rewards. International money transfers are available on every KOHO plan, including Core, its free plan.

What are the disadvantages?

Fees are one of the main drawbacks to compare. Depending on the card, you may pay for the subscription, currency conversion, withdrawals, reloads or inactivity.

KOHO offers three plans: Core at $0/month, Extra at $18/month or $144 annually, and Everything at $22/month or $177 annually. Core charges a 1.5% foreign transaction fee, while Extra and Everything have no foreign transaction fees.

Other limitations can matter when travelling. Some hotels and car rental companies restrict prepaid card use or place a temporary hold on your balance. This can leave less money available for other purchases until the hold is released.

Cards may also have spending, loading and withdrawal limits. Carrying a backup payment method can be useful if your main card is declined, lost or temporarily blocked.

How to get a prepaid card

Signing up

The application process varies by provider. You’ll generally need to meet its eligibility requirements and provide information to verify your identity.

For online applications, you may be able to access a digital card before your physical card arrives. Cards purchased in person may be available immediately, subject to stock, activation and verification requirements.

Many prepaid cards do not require a credit check, but this is not universal. BMO, for example, says its prepaid card application involves a soft credit check that does not affect your credit score.

Loading money on to the card

Available loading methods vary. Depending on the provider, you may be able to add money through a bank transfer, Interac e-Transfer, direct deposit or a supported payment card.

Some providers also accept cash loads at participating locations. Check the loading fee, minimum amount, maximum balance and processing time before choosing how to add money.

What are the fees?

Prepaid travel card fees vary by provider and plan. Before signing up, check for:

• Card purchase or delivery fees
• Monthly or annual subscription fees
• Loading and reload fees
• Currency conversion and foreign transaction fees
• ATM withdrawal fees and ATM operator charges
• Inactivity fees
• Replacement card fees
• Balance refund or account closure fees

Compare the total cost for the way you expect to use the card. A subscription that removes foreign transaction fees may be worthwhile for frequent overseas spending, but less useful for an occasional trip.

The Wise card has no monthly or annual subscription fee. Spending a currency you already hold is free, while currency conversion carries a separate fee.

With KOHO, Core is free but has a 1.5% foreign transaction fee. Extra and Everything remove that fee in exchange for a paid subscription. You do not need a paid KOHO plan to access international money transfers: they are available on Core too.

Fees for prepaid travel cards

Compare subscription charges, exchange costs and withdrawal fees together. A card advertised as having no foreign transaction fee may still involve currency conversion costs, ATM charges or a paid membership.

The table below includes prepaid cards and the Wise debit card as an alternative for spending money from your account balance. All dollar amounts are CAD unless another currency is specified.

Fees and benefits can change. Check the provider’s current terms before applying or travelling. Neo’s announced January 2027 withdrawal charge is a future change, not a fee currently payable.

Where can I get a prepaid Visa card for international use?

If you specifically need a prepaid Visa card, check the issuer’s current product range and confirm that the card supports international purchases and ATM withdrawals.

Some banks and other card issuers offer prepaid products, but availability and card networks vary. A Visa logo on a gift card does not automatically mean it is suitable for overseas travel.

When comparing options:

• Confirm whether the card uses Visa or Mastercard.
• Check whether international spending and cash withdrawals are permitted.
• Review currency conversion charges and loading options.
• Check whether hotels and car rental companies accept the card.

KOHO offers a prepaid Mastercard, so it is an alternative if you do not specifically require Visa.

Where to buy a prepaid travel card online

You can apply for many travel cards through a provider’s website or app. Depending on the provider, a digital card may be available before your physical card arrives.

The main application routes include:

• Online providers: Apply through the official website or app, complete identity verification and choose from the available card options.
• Banks: Check whether your bank offers a suitable prepaid card and whether you can apply online or need to visit a branch.
• In-person purchase: If you need a card quickly, Canada Post Cash Passport is available from participating post offices, subject to availability.

Before applying, check delivery times, eligibility, the payment network and international usage restrictions.

Can I use a prepaid travel card to withdraw cash?

Many prepaid travel cards support ATM withdrawals, but not all do. Check the card’s withdrawal limits, supported ATM networks and fees before travelling.

You will generally need your physical card and PIN. Some ATMs also charge their own fee, which is separate from any fee charged by your card provider.

Wise offers a monthly withdrawal allowance before its own ATM fees apply, as shown in the comparison table. Currency conversion and ATM operator charges can still apply.

With KOHO, ATM operator fees vary. Extra and Everything customers can request reimbursement for one international ATM withdrawal fee per month. Core customers also need to account for the 1.5% foreign transaction fee on foreign-currency withdrawals.

When an ATM offers to convert your withdrawal into CAD, choosing the local currency generally lets your card provider handle the conversion instead of accepting the ATM’s offered rate.

Conclusion: Which prepaid card is the best in Canada?

The best travel card depends on where you are going, how much you expect to spend and whether you need cash withdrawals, multi-currency balances or rewards.

Compare the total cost, including subscriptions, currency conversion and ATM fees. Check acceptance too, particularly if you plan to use the card for hotel deposits or car rental.

Here’s a recap of the five card options featured in this guide:

• Wise card – A debit card linked to a multi-currency account, with mid-market currency conversion and a separate conversion fee.
• Canada Post Cash Passport – A prepaid option available from participating post offices, useful if you prefer to collect a card in person.
• BMO Prepaid Mastercard – A bank-issued prepaid card with an annual fee and foreign currency conversion charges.
• KOHO – Core is free and includes access to international money transfers. Extra and Everything add no foreign transaction fees and higher plan-dependent rewards for a subscription.
• Neo Money Card – Offers a free Essentials membership and optional paid memberships, including Grow with eligible foreign exchange fee rebates.

KOHO’s international money transfers are available across Core, Extra and Everything to 190+ countries. Transfers can arrive within 30 minutes, but delivery times and costs depend on the transfer. A paid subscription is not required to access the service.

FAQs - Prepaid cards in Canada

Which is the best prepaid travel card?

There is no single best option for every traveller. Compare the currencies you need, total fees, withdrawal limits and how quickly you can get the card.

Wise may suit someone looking for a multi-currency account and linked debit card. Canada Post Cash Passport may appeal if you want to collect a prepaid card in person. KOHO may suit someone who wants a CAD account with cashback and international transfers available on a free plan.

What are the advantages of a prepaid travel card?

A prepaid travel card can help you budget, reduce the cash you carry and keep travel spending separate from your everyday finances.

Some cards also offer multi-currency balances, cashback or reduced foreign transaction costs. Benefits and fees depend on the provider and plan.

Should I use a debit, credit or prepaid card abroad?

Each can be useful. A prepaid card helps you manage a loaded spending balance, while a debit card lets you spend from an account. Credit cards may offer travel benefits and can be more widely accepted for hotel or car rental deposits.

Compare fees and acceptance, and consider carrying a backup payment method. Credit card interest can outweigh rewards if you do not repay your balance in full.

Can I use prepaid cards with Apple Pay and Google Pay?

Some prepaid cards support Apple Pay, Google Pay or both. Availability depends on the card, provider and device, so check compatibility before applying.

Are prepaid travel cards contactless?

Many are, but contactless support and transaction limits vary. You may still need to insert your card and enter your PIN for certain purchases.

Do you need a bank account for a prepaid travel card?

Not always. Some prepaid cards can be purchased and loaded without an existing bank account.

Other products require an account with the card provider, and some loading methods require a bank account or payment card. Check the requirements for your chosen product.

What information is needed for a prepaid travel card?

You may need to provide your full name, date of birth, residential address and valid identification. Eligibility and verification requirements vary by provider.

Some providers may request additional documents or information before activating the card or increasing your limits.

How do I put money in a prepaid travel card?

Depending on the provider, you may be able to add money by bank transfer, Interac e-Transfer, direct deposit, payment card or cash at participating locations.

Not every card supports every method. Check loading fees, processing times and limits before transferring money.