Carrying a thick stack of money or scouring the streets for a obscure forex alternate sales space is the form of journey tip you’d anticipate finding in a historical past e-book.
Today, good travellers can skip the effort and the horrible charges by utilizing pay as you go playing cards that waive international transaction charges and work seamlessly at ATMs overseas.
Even higher, these playing cards assist Canadians dodge a standard however lesser-known lure: double forex conversion.
When exchanging Canadian {dollars} right into a non-USD forex like Korean gained or Mexican pesos, many banks and cubicles convert your funds to USD first, then to the vacation spot forex, charging you a markup at each steps.
And when withdrawing from an ATM, there’s another trick to be careful for: Dynamic Foreign money Conversion (DCC). It quietly inflates the alternate charge if you select to be charged in your house forex as a substitute of the native one.
Right here’s what that lure appears like in actual life:
On this instance, the ATM gives to transform 1,000,000 IDR at a charge of 0.0000873, leading to a cost of $87.30 CAD. However on the time, the mid-market charge was nearer to 0.000084—about $84 CAD. That’s a $3+ distinction for no motive in any respect.
Earlier than we dive into the perfect pay as you go playing cards for journey, let’s take a fast take a look at how they work and why they’re such a useful gizmo for managing your cash overseas.
What Is a Pay as you go Credit score Card?
At their core, pay as you go bank cards work like a hybrid between a debit card and a bank card. You load funds onto the cardboard prematurely, normally by way of Interac e-Switch, debit card, invoice fee, or direct deposit, after which spend from that steadiness.
In contrast to a conventional bank card, you’re not borrowing cash. And in contrast to most chequing accounts, there are usually any month-to-month charges or minimal steadiness necessities.
Higher but, getting one doesn’t contain a laborious credit score verify (so long as you choose out of the overdraft characteristic), and also you gained’t by chance rack up curiosity costs, because you’re solely spending what you’ve already loaded.
Pay as you go playing cards are nonetheless a part of the Visa or Mastercard community, which implies they’re accepted nearly wherever an everyday bank card is—each on-line and in particular person.
That makes them particularly helpful for journey, the place you may want a card for lodge holds, on-line bookings, and even simply faucet funds overseas.
They’re additionally an amazing choice for college kids or newcomers to Canada who don’t but have entry to conventional credit score. Whereas some motels or automotive rental firms might insist on a full bank card, many will settle for a pay as you go card if it has sufficient steadiness to cowl the deposit—making it a sensible workaround in conditions the place you’d in any other case be caught.
And whereas many Canadians use pay as you go playing cards as a budgeting device (because of smooth apps and immediate transaction monitoring), additionally they serve a really particular goal for travellers: they allow you to withdraw money at international ATMs with out triggering the same old money advance charges or international alternate markups that bank cards like to sneak in.
Examine the Finest Pay as you go Playing cards for Canadian Travellers
With so many choices accessible, selecting the best pay as you go card relies on your journey habits, spending fashion, and want for simplicity or flexibility.
Right here’s a side-by-side take a look at the highest no-FX-fee pay as you go playing cards for Canadians in 2025, highlighting their strengths, limitations, and superb use instances.
Wealthsimple Pay as you go Mastercard: Glossy, Easy, and No FX Charges
Should you’re on the lookout for essentially the most well-rounded pay as you go card to take in your travels, the Wealthsimple Pay as you go Mastercard is the one to beat.
It hits all the appropriate notes: no charges of any sort, no international transaction charges, and no ATM withdrawal charges—a uncommon trifecta that makes it a standout for Canadians heading overseas.
Whether or not you’re travelling for every week or a couple of months, this card gives a fuss-free expertise with surprisingly stable options:
- 1% money again on each buy, which you’ll be able to select to direct into money, shares, or crypto holdings (word that the latter two choices have tax implications in the event that they rise in worth, so money again could also be preferable for a basic consumer)
- No international alternate charges – a uncommon sight within the Canadian market
- No ATM withdrawal charges – apart from charges imposed by the ATM operator (many ATMs worldwide don’t cost a charge); Wealthsimple additionally reimburses as much as $5 per transaction for home ATM charges in Canada (credited inside 3–4 enterprise days)
- Beneficiant ATM withdrawal limits – as much as $3,000 per day and $10,000 per week
- No month-to-month or annual charges
- Ship/obtain Interac e-Transfers with no charges (quick and as much as $5,000 per switch)
- Hundreds simply by way of Interac e-Switch, debit card, exterior financial institution switch, or direct deposit
- Funds are CDIC insured as much as $100,000
- Totally suitable with Apple Pay and Google Pay
You don’t simply must take my phrase for it, right here’s a real-world instance.
On April 9, 2025, I withdrew 100,000 Indonesian Rupiah (IDR) utilizing my Wealthsimple Pay as you go Mastercard. The cardboard charged me $8.49 CAD, whereas the mid-market charge on the time (in line with XE Foreign money) would have transformed the identical quantity to $8.40 CAD.
The Mastercard alternate charge used was 0.000085, whereas the mid-market charge was 0.000084. In different phrases, the speed I obtained was primarily at spot, with no added FX markup or withdrawal charge from Wealthsimple.
This confirms that you just’re getting very aggressive conversion charges when utilizing Wealthsimple overseas, and it’s an amazing instance of why this card stands out for worldwide use.
The app can be smooth and beginner-friendly, and the bodily card comes with a clear black-and-gold design that feels extra premium than you’d anticipate from a pay as you go product.
Personally, I’m a giant fan of what the Wealthsimple Pay as you go Mastercard at present gives. It feels nearly too good to be true in immediately’s market, and I actually hope this isn’t only a buyer acquisition technique that results in nerfs down the highway.
If it stays this robust, it’ll proceed to be probably the greatest pay as you go playing cards Canadians can carry whereas travelling.
Wealthsimple additionally gives extra advantages based mostly in your property underneath administration, with three tiers: Core, Premium, and Era. You solely want $1 in property to qualify for the Core tier, which already consists of all the important thing options listed above.
Premium and Era tiers, unlocked with $100,000 and $500,000 in property respectively, provide greater rates of interest, precedence service, and added accomplice perks like airport lounge passes, however you don’t want these to profit from the travel-friendly core options.
One factor to remember is that Wealthsimple blocks transactions and ATM withdrawals within the following international locations resulting from sanctions or inside coverage:
Afghanistan, Bangladesh, Belarus, Central African Republic, Congo, Cuba, Democratic Republic of Congo, Eritrea, Ethiopia, Guinea-Bissau, Haiti, Iran, Iraq, Kosovo, Liberia, Libya, Mali, Myanmar, North Korea, Russia, São Tomé and Príncipe, Sierra Leone, Somalia, South Sudan, Sudan, Syria, Ukraine, Venezuela, and Yemen.
Make sure to verify the official record earlier than making journey plans.
With beneficiant limits, a smooth app, and nil charges even on the base tier, the Wealthsimple Pay as you go Mastercard earns its spot as my prime suggestion for pay as you go journey playing cards in Canada.
EQ Financial institution Card: Price-Free Performance with a Few Frictions
The EQ Financial institution Card is a sensible and reliable pay as you go choice for Canadians who wish to keep away from international transaction charges with out giving up the total performance of a conventional checking account.
Whereas it might not be the flashiest card on the market, it gives a compelling mixture of options—particularly in the event you worth flexibility, safety, and curiosity in your steadiness.
Right here’s what makes the EQ Financial institution Card a stable journey companion:
- No international transaction charges
- No month-to-month or annual charges
- No EQ-imposed ATM withdrawal charges (solely operator charges might apply)
- Computerized reimbursement of home ATM charges (as much as any quantity)
- Earn curiosity in your steadiness – at present 1.25%, with promotions of as much as 4% if you arrange direct deposit of $2,000+ per 30 days
- 0.5% money again on purchases
- Hundreds simply out of your EQ Financial institution financial savings account (which helps Interac e-Switch, invoice funds, and direct deposit)
- Totally suitable with Apple Pay and Google Pay
- Contains full checking account options, together with cheque deposits, invoice pay, and extra
A key distinction with EQ Financial institution is the way it handles your funds: your primary steadiness sits in a high-interest financial savings account, and you will need to manually switch cash to your card steadiness so as to spend or withdraw it.
Whereas this provides a layer of management and acts as a useful security buffer in case your card is misplaced or stolen, it could possibly really feel inconvenient in the event you’re making an attempt to make a fast buy or seize money on the fly.
One other key limitation to concentrate on: the EQ Financial institution Card doesn’t assist Mastercard 3D Safe transactions. As extra retailers undertake this safety protocol, some on-line purchases could also be robotically declined. Should you often store on-line, this might grow to be a recurring inconvenience.
Moreover, the EQ Financial institution app typically feels gradual and dated. Whereas purposeful, the app feels noticeably slower in comparison with extra fashionable fintech platforms.
That stated, EQ Financial institution is a Schedule I Canadian financial institution, which means your deposits are CDIC insured as much as $100,000, providing peace of thoughts whereas travelling or storing greater balances.
Should you don’t thoughts the guide transfers and occasional app lag, the EQ Financial institution Card delivers significant worth for Canadian travellers, notably those that recognize a no-fee setup and interest-bearing steadiness.
Backside line: Wealthsimple wins for pure comfort, whereas EQ Financial institution wins for old-school management and safety.
Clever Card: A Area of interest however Highly effective Backup for Journey
Thirdly, now we have the Clever Card, which isn’t fairly as robust as the previous two choices—however nonetheless performs an essential function for travellers who want flexibility.
Processed by Visa, the Clever Card can function an amazing backup, particularly in conditions the place a service provider or ATM solely accepts Visa relatively than Mastercard.
It makes use of the true mid-market alternate charge for forex conversions, a significantly better deal in comparison with the everyday 2.5% international transaction charge charged by most Canadian banks.
Higher but, Clever shows all charges transparently and even compares their charges in opposition to conventional banks in actual time. I actually recognize this strategy and truthfully want extra monetary establishments would undertake this stage of transparency as an ordinary characteristic.
Earlier than the launch of the Clever Card, Clever primarily targeted on serving to shoppers alternate currencies at higher charges than massive banks, and this legacy exhibits.
It gives a novel characteristic not discovered on most different pay as you go playing cards: the flexibility to maintain, spend, and ship foreign exchange on to native financial institution accounts abroad.
This generally is a large benefit if you wish to convert your cash prematurely.
For instance, in the event you’re planning a visit to Türkiye and the Turkish Lira is at present undervalued in opposition to the Canadian greenback, you possibly can proactively convert your funds to TRY, lock within the charge, and maintain onto it till your travels.
Right here’s a fast overview of what the Clever Card gives:
- Entry to 50+ currencies to carry, convert, and spend
- Actual mid-market alternate charges with low clear conversion charges (~0.35–1%)
- Visa community acceptance worldwide
- Skill to ship cash on to international financial institution accounts
- Totally compatibale with Apple Pay and Google Pay
- No hidden charges, with real-time comparisons in opposition to banks
Nonetheless, it’s not all easy crusing.
Whereas Clever technically advertises free ATM withdrawals, the truth is extra restrictive: you’re restricted to $350 throughout two withdrawals per 30 days, after which charges kick in.
Past that, Clever costs a $1.50 flat charge + 1.75% of the withdrawal quantity. A charge construction that feels unusually punitive in comparison with the opposite pay as you go playing cards we’ve coated.
One other crucial level: including funds to your Clever account may also be deceptively tough. When topping up, you gained’t discover an apparent free loading choice.
Nonetheless, there’s a hidden methodology: by establishing auto-deposit utilizing your Clever login e-mail, you possibly can ship an Interac e-Switch to your Clever account at no cost. It really works completely, however Clever doesn’t precisely shout this from the rooftops.
A recurring theme on the planet of pay as you go playing cards is that the merchandise, together with the Clever Card, are accessed primarily by way of apps. Clever additionally has wonderful performance on its desktop website, not like a number of the different choices on its app.
General, it’s no secret that Clever gives a large number of capabilities, however it’s undoubtedly a double-edged sword. Whereas the pliability and forex management are implausible for energy customers, the system is complicated sufficient that the common consumer may face a steep studying curve to completely maximize all the advantages.
Should you’re keen to place within the effort, the Clever Card could be an extremely helpful backup device to pair with a extra easy major pay as you go card.
PC Cash Account: Now FX-Pleasant, However Nonetheless Higher for Native Use
The PC Cash Account has quietly grow to be a extra viable choice for travellers, because of a latest replace that eliminated international transaction charges.
Whereas it’s nonetheless not as feature-rich as different playing cards on this record, it earns a spot as a stable no-fee backup, notably in the event you already store inside the PC Optimum ecosystem.
Issued by PC Monetary and powered by the Mastercard community, the cardboard acts as a hybrid pay as you go account and chequing various, with reward-earning potential and full cell pockets assist.
Right here’s what you get with the PC Cash Account:
- No month-to-month or annual charges
- No international transaction charges
- $1.50 charge for home ATM withdrawals exterior PC Monetary ATMs
- $3.00 charge for worldwide ATM withdrawals
- Earn 10 PC Optimum factors per greenback spent at Loblaw banner shops
- Earn 5 PC Optimum factors per greenback spent on all different purchases
- Free Interac e-Transfers
- Apple Pay and Google Pay suitable
Whereas the 1% earn charge at Loblaw shops is enticing, the bottom 0.5% earn charge elsewhere isn’t notably aggressive in comparison with another pay as you go or cashback playing cards. And though international transaction charges have been eradicated, the flat ATM charges ($3 internationally) can nonetheless add up in the event you’re withdrawing money often overseas.
That stated, there’s one other sweetener: PC Monetary additionally sometimes runs bonus factors promotions at Loblaw banner shops if you pay with a PC Monetary product, together with the PC Cash Account. These promotions can provide a simple technique to enhance your Optimum factors steadiness even sooner in the event you repeatedly store at affiliated shops.
Due to no FX charges, free e-Transfers, and robust grocery integration, the PC Cash Account is now rather more traveller-friendly than it was. It’s nonetheless finest suited to home on a regular basis use, however it could possibly additionally function a helpful backup for infrequent journey or on-line spending, particularly for these already invested within the PC Optimum program.
Conclusion
Pay as you go playing cards have come a good distance from being area of interest budgeting instruments to changing into genuinely helpful companions for travellers. Whether or not you’re seeking to dodge international transaction charges, withdraw native forex with out money advance costs, or just keep away from the danger of carrying a bank card, there’s a pay as you go choice that matches the invoice.
For many Canadians, the Wealthsimple Pay as you go Mastercard stands out as the perfect all-around selection—it’s easy, fee-free, and rewarding.
EQ Financial institution provides a layer of management and financial savings account integration, whereas Clever gives unmatched flexibility for multi-currency travellers, albeit with a steeper studying curve.
In the meantime, the PC Cash Account has grow to be a surprisingly respectable backup card, particularly for PC Optimum lovers and home customers.
Every card has its personal strengths and trade-offs, however the important thing takeaway is that this: you now not have to depend on money exchanges or bank card charges when travelling. With the appropriate pay as you go card (or combo of two), you possibly can hold issues safe, easy and cost-effective
