Do you have the feeling that using ordinary credit cards is uncomfortable and frustrating at the same time? Would you like a safe method to budget your expenditure without the pressure of monthly payments? It is quite simple, and that is the BMO Prepaid Mastercard. Making use of this card is like having a very accessible, re-loadable, and secured money. 

With the convenient BMO Prepaid Mastercard there is no limitation – use it for shopping online or at the store where you often shop. Moreover, with the provided security features and no interest rates, it is the best choice for those, who do not want to deal with too many complications, related to their money.

Main features of the BMO Prepaid Mastercard 

It is a prepaid Mastercard that is affiliated with, and can be managed through the Bank of Montreal – a highly reputable, innovative bank in Canada. This card is therefore suitable for any individuals beginning with the college students handling their own money for the first time, the international travelers who don’t need to worry as to how to get their money when in other countries. 

Due to the fact that the card allows flexible spending power that’s controlled and does not have rigid rules as other credit cards, it is very desirable especially for those who want to avoid spending limits. Though this card comes with a low annual fee, the fact that the card does not attract interest on purchases or cash advances makes it more appropriate for conscious spenders.

Understanding the annual fee 

Regarding the annual fee, the BMO Prepaid Mastercard lays down its cards quite clearly. For just $6. a year, one gets to enjoy various advantages that ease the management and enhance the security of the finances. 

Deciphering credit limits

Another point of the BMO Prepaid Mastercard is that the option for making a deposit is very diverse. Many people are familiar with credit cards that have a limit fixed based on your score and history but with the BMO Prepaid Mastercard, you can decide on your limit. 

Advantages of the BMO Prepaid Mastercard

• No Interest Rates: The interest rates for both purchases and advances have been done away with enabling you to enjoy the freedom of using your card.
• Extended Warranty and Purchase Protection: A theft and damage cover of your purchases is provided and for your bought items with the card an extended warranty cover is provided.
• Worldwide Acceptance: Shop and dine at more than 30 million locations of the globe; and get cash back at over million ATMs all over the world.
• Digital Security Features: At any time, be able to lock and unlock your card through the BMO mobile application to guarantee that your cash is safe.

Standout advantage

However, one could easily point out that the key feature is the exceptional level of security of the BMO Prepaid Mastercard. It allows its users to select or deselect the options such as extended warranty, purchase protection and the other beneficial options such as locking or unlocking of the card instantly which was almost impossible with the traditional prepaid cards. 

Addressing potential drawbacks

• Annual Fee: This card also has a $6. 95 annual fee which would be an issue to some users its better to go for a mobile with this feature instead of subscribing for this service.
• No Rewards Program: As for some disadvantages, it is worth stating that the BMO Prepaid Mastercard does not provide the client with a rewards program.
• Loading Limits: It is possible to load smaller or larger amounts of a patient’s choice, but they may have restrictions on the maximum amount that can be filled at one time on a card.

Standout disadvantage

Thus, the inconvenient feature of the BMO Prepaid Mastercard is its lack of a rewards program. For users who are familiar with performing regular shopping and getting points or cashback for this, this drawback can be regarded as critical. 

Eligibility criteria 

To apply for the BMO cash sent to Canada, you must be a Canadian resident with a BMO bank account. The application process is easy to execute the companies do not run credit check on the clients as they approve your application regardless of your credit score. Due to the product features that have been outlined above, this card is suitable for students, travelers, and anybody who would wish to have better control over their spending. 

How to apply for the BMO Prepaid Mastercard

There are so many easy access methods that are available and therefore you have reason to use any method that you prefer. Regardless of the method – online application or through the BMO mobile application, or in person at any BMO bank branch, the application process is very simple and brief.

Via website

Looking to apply for BMO Prepaid Mastercard card, this can be done on the official website and it is very simple. In brief, it is achieved by just going to the BMO official site and moving to the credit card portion. From there, you can locate the BMO Prepaid Mastercard and click on the ‘Apply Now,’ button. 

After that, you will be led through a set of questions asking about yourself, as well as the steps to validate your identity. The online application is easy to fill and takes about 5-10 min to fill while you are assured of your security when doing it. After you submit your application, you will get a response within the shortest time, 60 seconds to be precise, as to whether you have been approved or not.

Through the mobile application

For those who are running a busy life and would still like to apply for this BMO Prepaid Mastercard, they should know that they can actually apply through the BMO mobile app. The app can be obtained from the Google Play Store or from the Apple App Store and the user needs to enter his / her BMO details to start using the app. 

Next, launch the app on your smartphone, go to the credit card tab and then choose the BMO Prepaid Mastercard. The application process is seamless and is done within the app hence making it convenient to fill while on the move.

Through the store/branch

If a physical application is what you are comfortable with, you can fill the BMO Prepaid Mastercard application at any BMO branch. Go to the indicated branch or talk to any banking officer who will help you complete the application. This method is probably most useful for those people who have certain questions or encounters some difficulties with the application. 

The in depth of the branch it makes it possible for the customers to receive personal services and for all their concerns to be fully addressed. Also, you can get your card activated there and then depending on the bank, it will be immediately usable.