![]() This doesn’t apply when they issued a prepaid card in person and already disclosed this information before issuing it. How you may use the funds for partial payment of a purchaseįederally regulated financial institutions other than banks must disclose the above additional information on issuance of the card. How you can verify the balance of the funds on your card ![]() The card’s terms and conditions, including your rights and responsibilities if you lose it or someone steals it a website address where you can get the information as listed above, among othersīanks must also disclose the following information before issuing of the card:.a statement that the Canada Deposit Insurance Corporation (CDIC) doesn’t insure the funds (when that’s the case).all charges that may apply (must be presented in an information box, on the card’s exterior packaging, if any).a toll-free telephone number you can call to ask about the card and to file complaints.Information to be disclosed about the prepaid cardīefore issuing the card, federally regulated financial institutions must disclose information to you, such as: They must disclose the information in a manner and using language that is clear, simple and not misleading. electronically upon request, if it’s an electronic cardįederally regulated financial institutions other than banks that issue prepaid cards must also provide you with certain information:.directly on the card and its packaging, if any.Your right to information about prepaid cardsĪll federally regulated financial institutions that issue prepaid cards must provide you with certain information: This does not apply to prepaid cards issued by provincially regulated financial institutions or retailers. You can buy prepaid cards online, by telephone or at retail businesses.īy law, federally regulated financial institutions that issue prepaid cards must provide you with key information about them. Financial institutions issue prepaid cards linked to payment card network operators such as American Express, Mastercard, and VISA. You may use them to buy goods and services and sometimes make cash withdrawals. Prepaid cards (physical, like plastic, or electronic) are preloaded or can be loaded with funds.
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