Prepaid cards

All Smart Prepaid Cards in any currency, including CAD, USD, MXN, GBP and EUR, will be discontinued after January 31, 2023. The Air Canada Conversion Prepaid Card will continue to work and is available for purchase.

A notice was sent to clients the week of September 26, 2022, either via email or direct mail. Review the fullSmart Prepaid Client Notification (PDF, 480 KB) Opens in a new window..

No, prepaid cards are not credit cards.

Unlike a credit card, which allows you to access a credit limit and pay the bill later, prepaid cards let you load what you need in advance.

A prepaid card is a reloadable Visa card where the funds never expire, whereas a credit card is revolving credit that goes against your liabilities.

You can load funds onto your prepaid card from a CIBC bank account or personal line of credit.

Unlike a credit card, statements will not be mailed out. Statements for prepaid cards are available at Visa Prepaid Cards Opens in a new window.. It is recommended to review your history at least once every 30 days to report any fraudulent or disputed transactions.

Cash advances are not applicable with the prepaid Visa card at merchant point-of-sale (POS) terminals. You can, however, withdraw cash at ATMs.

No rewards programs are affiliated with the prepaid Visa card. The card is solely used for purchasing purposes.

There is no trip cancellation, trip interruption coverage or any type of trip insurance on this card. It’s not a credit card, but a reloadable prepaid card. Only transactions that fall within the prepaid fraud guidelines may be covered.

An expiry date is required to process transactions such as online purchases.

The money on your card doesn’t expire. Your card expires on the last day of the month shown on the card. Replacement cards will no longer be issued after November 30, 2022.

Before November 30, a replacement for expired cards will be automatically sent to you in the following circumstances.

• Your card has a positive balance and you’ve used it in the last 12 months
• Your card has zero balance and you’ve used it in the last 30 days

To request a replacement card, call 1-855-887-3888 Opens your phone app. or 1-650-432-1298 Opens your phone app. outside Canada and the U.S.

No. Buying or using a prepaid card won’t affect your credit rating because it’s not a credit card. It’s a prepaid card that lets you use only the money you’ve loaded onto it.

Yes, you’re protected against fraud under the Visa Zero Liability Policy.² You’re safe when shopping in person and online. If your card or card details are lost or stolen, you won’t be held responsible for unauthorized use, provided you meet your obligations outlined in thecardholder agreement (PDF, 65 KB) Opens in a new window..

The following fees apply:

The following transaction limits apply⁵:

If you purchased your card at a banking centre, the card will be active and ready for use once you have loaded the card with funds from your personal CIBC bank account. You can use your prepaid card once you’ve signed the back. Your PIN is enclosed in the package given to you by the banking representative.

If you order your card online, you will have to wait for your card to arrive in the mail. You can use it after you’ve activated it and signed the back. Your PIN will be sent separately in the mail. 

To activate your card, call Prepaid Cardholder Services at 1-855-887-3888 Opens your phone app. or 1-650-432-1298 Opens your phone app. outside Canada and the U.S., or visit Visa Prepaid Cards Opens in a new window..

Your card will be accessible on your online banking within 5 business days after activation. 

To change your PIN, simply:

1. Insert your card into any CIBC ATM.
   
2. Select the “More” option, then “Change PIN” and follow the instructions.

You can also change your PIN at Visa Prepaid Cards Opens in a new window.. Further instructions are provided when you sign on. You can call the Prepaid Support Group at 1-855-887-3888 Opens your phone app. or 1-650-432-1298 Opens your phone app. outside Canada and the U.S.

If you changed your PIN online or by phone, please make an in-store transaction by inserting your card or make an ATM withdrawal to complete the PIN change process. You'll be prompted to enter your PIN up to 3 times in-store.

You may be charged fees for withdrawing funds at non-CIBC ATM machines.

For more details, kindly refer to yourSmart Prepaid Card terms and conditions (PDF, 65 KB) Opens in a new window..

You can set up your email or SMS alerts at Visa Prepaid Cards Opens in a new window.. Sign in or register, then follow the instructions for setting up your alerts.⁶

Should you notice suspicious activity on your account, discover your card to be lost, stolen or misused, or suspect that someone knows your PIN or card details, contact us immediately at 1-855-887-3888 Opens your phone app..

A replacement fee applies. We'll no longer issue replacement cards after November 30, 2022.