The Stack Mastercard is now available, with no ATM Withdrawal Fees and no Foreign Transaction Fees! Apply here and earn $20 once you sign up.Â
Earlier, this week. I ran into the Stack MasterCard, a prepaid card offered by a Toronto-based company. I’m not excited by prepaid cards – I’m civilized and have credit – unless you can earn miles and points through them. However, what caught my eye was their no fees policy.
I’ve written before about avoiding Foreign ATM Fees, but current options available are less than ideal. There are options to withdraw USD with no fees (Charles Schwab/TD Bank), or CAD without fees at select banks (Tangerine).
But as far as I know, the Stack MasterCard might be the option might be the only product to withdraw CAD at foreign ATMs with no fees and no foreign transaction fees. As well, many people think MasterCard has better rates than Visa or other card types.
Stack MasterCard – No ATM Withdrawal Fees, No Foreign Transaction Fees!
They confirm on their website that they don’t have ATM withdrawal fees. This is already more than can be said for essentially all banks in Canada. However, the kicker is that they don’t have foreign transaction fees! This was confirmed twice, once from Member Care via email, and once through social media.
This information doesn’t display on the website, but customer care told me:
Right now no. We’re relaunching our site June 1 and will be calling out the specific “fee-free†benefits, including no foreign exchange, more clearly.
If this card launches with this feature, it might be the best product to come around this year. I’m not kidding. Who knew a prepaid card not for generating credit points could be so exciting?! Right now, it doesn’t look like they’re in a public launch – so you can join the waitlist for the card, which also enters you to win $5,000. Not bad, right?
Stack MasterCard Waitlist Contest
However, the best prepaid card out there is still the CIBC AC Conversion card, which is still a good product to get. I earned close to a million points just from that, which was lovely. Nevertheless, I strongly recommend signing up for the Stack MasterCard. It’s free, and you don’t have to provide any personal information until the card launches.
Join the Stack MasterCard waitlist. Click here for Official Contest terms.
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Their fees would be included in the FX rate or else how will they make money?
Interchange rates or as a loss leader for other services. As I said, there are plenty of companies in the US that have both no ATM fees and foreign transaction fees and are profitable.
If someone has both cards, should try making a purchase with Stack vs HomeTrust Visa on the same day to see what the FX rates will be.
Should be the same as they use the Visa interchange rate.
Oh, I see. MC uses the same Visa IC rate. I guess with HomeTrust, the cardholder gets a 1% rebate.
Oh, my bad. I forgot Stack is a MC. No, the rates would be different. I wouldn’t use Stack for purchases – just for ATM withdrawals.
Where did you find ATMs who have no fee for Stack withdrawals ?
The ATM will show whether it charges a fee on withdrawals. Stack doesn’t charge withdrawal fees on its end.
How come you think AC conversion card is still good product, if they eliminated loading with credit card? Anyway to continue cc load?
They didn’t eliminate loading with credit card.
In CAD is still possible?
I thought they eliminated loading CAD..
What the point of this card… Today in Canada u have home trust visa u get 1% on everything u spend no FX
U also gonna get brim financial soon with 1% no FX
U can get a USA bank account today for Canadians to use visa debit …. We have lots of option
Does slack mastercard give 1% on spending?
ATM withdrawals in foreign countries.
Good point! If I need some local currency, just use an ATM and get MC FX rate which should be lower than the bank rates.
How can you earn close to one million points with the CIBC AC Conversion card ? I got the card in october last year and was always limited to a $100 CAD transaction for Canadian currency per day. As IceH asked, is in CAD still possible ? From my calculation this means that 3000 points was the most we could accumulate in canadian transactions per month. Once I got $300 US but I had to pay a $5 charge to get it from an ATM.
Nothing but trouble with that AC Conversion card. Had to write on their FB site just to get my money back. Took 4 months.
What about foreign ATM fees?
Thanks!
I don’t think they’ll offer free use at ATM abroad.
Their site states: The fine print: We don’t do fees, but others might. Your STACK account is fee-free, but if a transaction involves another partner who charges a fee we can’t avoid, we will facilitate this fee through your STACK account.
Means they can charge for any transaction which they get charged for. Doesn’t withdrawal abroad belong to that category?
Stack doesn’t fit into the category of a card that reimburses for foreign ATM operator charges. Don’t know of any Canadian card that does.