Are CIBC prepaid cards the same as credit cards?
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. You use your own money, which you can load onto your card from a CIBC bank account or personal line of credit.
What is the CIBC Smart™ Prepaid Visa Card?
The CIBC Smart Prepaid Visa Card is a Canadian dollar, reloadable prepaid card you can use to shop online, by phone and in person worldwide where Visa* is accepted. It’s a convenient and secure way to shop while you’re in Canada, using Canadian dollars.
What is the CIBC Smart™ Prepaid Travel Visa Card?
The CIBC Smart Prepaid Travel Visa Card is a foreign currency reloadable prepaid card you can use to shop online, by phone and in person worldwide where Visa* is accepted. It’s a convenient and secure way to shop when you’re outside of Canada. Lock in your rate when you load your card and avoid the hassle of exchanging money internationally. It’s available in 4 currencies:
- USD – U.S. dollars
- EUR – Euros
- MXN – Mexican pesos
- GBP – British pounds
Can I give a CIBC prepaid card as a gift?
No, you may only buy prepaid cards for your own use. Additional cards can’t be issued under your account. If you’d like to give a gift card and you collect Aventura Points, you may redeem for a CIBC Visa* Prepaid Gift Card. For more information, visit CIBC Rewards.
Can I get additional CIBC prepaid cards for family members under my account?
No, you may only buy prepaid cards for your own use. Additional cards can’t be issued under your account. If you’d like to give a gift card and you collect Aventura Points, you may redeem for a CIBC Visa* Prepaid Gift Card. For more information, visit CIBC Rewards.
How much money can I load onto my CIBC prepaid card?
Limit
|
CAD
|
USD
|
EUR
|
GBP
|
MXN
|
|---|
Minimum
Load Amount
|
$20
|
$15
|
€ 13
|
£10
|
$250
|
Daily
(24-hour)
Maximum Load
|
$3,000
|
$2,100
|
€ 2,000
|
£1,500
|
$39,000
|
Daily
(24-hour) maximum ATM withdrawal limit
|
$1,000
|
$700
|
€ 650
|
£500
|
$13,000
|
Daily
(24-hour) maximum point of sale purchase limit
|
$3,000
|
$2,100
|
€ 2,000
|
£1,500
|
$39,000
|
Maximum balance
|
$10,000
|
$7,000
|
€ 6,500
|
£5,000
|
$130,000
|
Where can I buy CIBC prepaid cards?
You can buy prepaid cards at any CIBC Banking Centre, including Toronto Pearson Airport, and through CIBC Online Banking and CIBC Mobile Banking.
Where can I use a CIBC prepaid card?
You can use a CIBC prepaid card to shop securely and conveniently anywhere Visa* is accepted, including at stores, online and by phone.
How soon can I use my CIBC prepaid card after I buy it?
If you get your card from a CIBC Banking Centre
You can use your prepaid card once you’ve signed the back. Your PIN is in the package.
If you order your card online
Once your prepaid card arrives in the mail, you can use it after you’ve activated it and signed the back. When you get a new prepaid card in the mail, your PIN will be sent separately. To activate your card, call Prepaid Cardholder Services at 1-855-887-3888 (1-650-432-1298 outside Canada and the U.S.) or visit cibc.com/prepaidcard.
How do I use a CIBC prepaid card?
Use a prepaid card to pay for purchases anywhere Visa* is accepted, including at stores, online and by phone. Be aware of the available balance on your prepaid card before you make a purchase. The transaction may be declined if the balance doesn’t cover the purchase amount.
Can I buy more than one prepaid card?
You can buy up to 5 prepaid cards, one for each currency.
CIBC Smart™ Prepaid Visa Card is available in:
CIBC Smart™ Prepaid Travel Visa Card is available in:
- USD – U.S. dollars
- EUR – Euros
- MXN – Mexican pesos
- GBP – British pounds
Will my card have my name on it?
If you order your card through Online Banking, you’ll receive it in the mail with your name on it. If you buy a card at a CIBC Banking Centre, it won’t include your name. If you’d like to request a card with your name on it, call 1-855-887-3888 (1-650-432-1298 outside Canada and the U.S.).
What happens if the remaining balance on my CIBC prepaid card doesn’t cover the full amount of my purchase?
Tell the merchant in advance you’d like to make a split payment. You’ll need to know the available balance on your prepaid card and use another payment method for the difference.
How do I shop in stores with a CIBC prepaid card?
When prompted, tap, insert or swipe your prepaid card at the merchant’s terminal. Then, if necessary, enter your PIN, or sign, to authorize the transaction.
Note: if “prepaid” is not a payment options, choose “Chequing”, “Savings” or “Credit Card” – the money will be deducted from your prepaid card balance, not your other accounts.
How do I shop online with a CIBC prepaid card?
- Choose Visa* as the card type
- Provide your prepaid card number and expiry date. Some online retailers require the 3-digit security code on the back of your card
- Enter your first and last name
- Follow the prompts to complete the transaction
How do I set up email or SMS alerts?
Sign in or register at cibc.com/prepaidcard. Then follow the instructions for setting up alerts.
Can I use a CIBC prepaid card for bookings and reservations?
Yes, but some merchants may advise you to use a credit card instead.
Some merchants such as restaurants, salons, hotels, cruise lines and car rental agencies may place a hold on funds for the total amount of your purchase, plus up to an additional 20% (i.e. for tips or incidental charges). If the authorization or hold amount is higher than your prepaid card balance, the transaction may be declined.
Can I buy or load a Smart Prepaid Card with cash or with a debit or credit card?
CIBC clients can buy and load from an existing bank account, including a US $ account, or Personal Line of Credit. If you want to buy or load your prepaid card using cash, simply deposit the cash in your CIBC account and complete the purchase or load your card from that account.
If you are not a CIBC client, you can buy or load your prepaid card from a debit or credit card at CIBC Banking Centres in Toronto Pearson Airport.
What are the fees for CIBC prepaid cards?
The following fees apply:
| Fee |
Amount |
|---|
Customization
|
|
$5.95 CAD
|
|
$4.50 USD¹
|
|
|---|
| |
CAD
|
USD
|
EUR
|
GBP
|
MXN
|
|---|
ATM Withdrawals (Within Canada)*
|
Free
|
Free
|
Free
|
Free
|
Free
|
|---|
ATM Withdrawals (Outside Canada)*
The first ATM withdrawal in each month is free.
|
$3.50
|
$2.50
|
€ 2.25
|
£2.00
|
$50.00
|
|---|
Card Replacement (Lost or stolen)
|
$14.95
|
$10.95
|
€ 9.95
|
₤7.95
|
$199.95
|
|---|
Card Replacement Shipment by Courier (optional)
|
$15.00
|
$11.00
|
€10.00
|
₤8.00
|
$200.00
|
|---|
Foreign Conversion
Transactions (debits and credits) not in the currency of your Card are converted into the currency of your Card no later than the Transaction posting date at an exchange rate that is 2.5% over the rate CIBC must pay
|
2.5% |
|---|
*These fees are the ATM withdrawal fees charged by CIBC. Non-CIBC ATM providers may charge additional fees.
1 When paying from a CIBC USD deposit account
Will a CIBC prepaid card affect my credit rating?
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.
Can I buy CIBC prepaid cards if I’m not a client?
Yes. Non-CIBC clients can buy prepaid cards at the Toronto Pearson Airport Banking Centre in Toronto. You must provide 2 pieces of identification to purchase a prepaid card using your debit or credit card. Learn more about valid ID.
Can I buy CIBC prepaid cards if I’m a non-resident of Canada or a visitor?
Yes. However, in order to buy a CIBC Smart Prepaid Card you must have a valid Canadian address and provide 2 pieces of identification. Learn more about valid ID.
Is there a minimum age requirement to get a CIBC Smart Prepaid Visa Card?
No, there is no minimum age requirement. In order to get a care you must have a valid Canadian address and provide 2 pieces of identification. Learn more about valid ID.
Why is there an expiry date on my CIBC prepaid card?
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.
Before your card expires, a replacement will be sent to you, if:
- Your card has a positive balance and you’ve used it in the last 12 months, or
- Your card has zero balance and you’ve used it in the last 30 days
To request a replacement card, you can also call 1-855-887-3888 (1-650-432-1298 outside Canada and the U.S.).
Is it safe to use a CIBC prepaid card?
Yes, you’re protected against fraud under the Visa Zero Liability Policy. 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 the cardholder agreement available at cibc.com/prepaidcard.
What should I do if my CIBC prepaid card is lost or stolen?
Should you notice suspicious activity on your card, 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 (1-650-432-1298 outside Canada and the U.S.). A replacement fee applies.
How do I return something I bought with my CIBC prepaid card?
You will need to present your prepaid card and the merchant receipt for a refund. The merchant can return funds to the same prepaid card that was used to make the purchase.
Refunds to your card will be processed within 10 business days.
What currencies can I use with a CIBC prepaid card?
Prepaid cards are available in 5 currencies:
The CIBC Smart™ Prepaid Visa Card is available in:
The CIBC Smart™ Prepaid Travel Visa Card is available in:
- USD – U.S. dollars
- EUR – Euros
- MXN – Mexican pesos
- GBP – British pounds
Can I use a CIBC prepaid card to withdraw U.S. money from a U.S. dollar ATM in Canada?
No. Even with the U.S. dollar CIBC Smart™ Prepaid Travel Visa card you can only withdraw Canadian funds from ATMs in Canada.
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. You use your own money, which you can load onto your card from a CIBC bank account or personal line of credit.
