If you love to travel and need a way to keep track of your travel budget, then the CIBC Air Canada AC Conversion Visa Prepaid Card is a great option. This card offers new and existing cardholders the opportunity to earn rewards while on the go.
It’s good to know that this is not a credit card but rather a prepaid card. And like all prepaid cards, this card does not require a credit check to be approved.
Want to know more about the CIBC Air Canada AC Conversion Visa Prepaid Card? Check out this review.
Key Card Details
- No annual fee
- No minimum income requirement
- No minimum Signup fees
- No Reloading fees
- No Conversion fees
- Multiple currency feature
- Apply through this secure link for a $10 cash back rebate
How the CIBC AC Conversion Visa Prepaid Card work
This CIBC Prepaid Card is similar to other prepaid or debit cards. You can use the prepaid card to purchase from an online store or physical shops and withdraw cash from ATMs.
The company provides many ways to load money onto the reloadable card. And, each money you spend will be taken out of your balance each time you use the card. There is no overdraft facility, so you cannot spend more than what you load into the card.
Furthermore, this card offers convenience for frequent travelers. You can carry up to 10 currencies on this card – and pay like a local in 45 countries. Hence there’s no need to search for an FX office when you need local money abroad since you can do that more conveniently and safely using this card.
What’s more? You receive 1% cash back on all purchases made with the card until October 31, 2022. (See also: 5 Reasons Why You Need A Prepaid Card).
The CIBC Prepaid Card Multiple Currency Feature
If you’re an avid traveler, this Visa Prepaid Card can save you time and money. It allows you to load up your card with ten different currencies, so you don’t need to carry cash in all kinds of currencies including:
- Canadian dollars
- Australian dollars
- US dollars
- Euros
- British pounds
- Swiss francs
- Mexican pesos
- Japanese yen
- Hong Kong dollars
- Turkish lira
The card also offers a currency conversion feature. So, if you plan on traveling abroad, just put your Canadian dollar into the card and convert it into whatever currency you need.
CIBC Air Canada AC Conversion Prepaid Visa Card limits
The issuer has imposed some restrictions on how you can use the card. These limits are there to safeguard your interests and guarantee seamless transactions. Here are some limitations you need to be aware of before you sign up for this card:
- $100 Minimum load
- $20,000 Maximum card balance
- $3,000 Maximum 24-hour spend via POS
- $2,000 Maximum withdrawal in 24 Hours via ATM
- $3,000 Maximum load (single transaction)
In conclusion
For those who go on vacations abroad or travel frequently, one way to save money is to carry a reloadable card with the local currency of a travel destination.
So, this card is ideal for frequent travelers who want to avoid carrying cash or using multiple wallets. With the card, you can easily manage foreign exchange rate volatility, save on fees, and conveniently pay in local currencies worldwide.