PayPower Reloadable Mastercard® Prepaid Card
PayPower is a Canadian company but their reloadable prepaid Mastercard® program is accepted at thousands of retailers, both in-store and online locations, worldwide. This card permits the management of your funds outside of your local bank account. PayPower gives you a couple choices in regard to how you want to purpose your prepaid card. You have the option of leaving your card as a “Single Load Prepaid” or upgrade and register to make it a “General Purpose Reloadable Card.” With the latter, there are more options, like ATM withdrawal and Direct Deposit capabilities, making it a multipurpose card that gets the job done.
This article will highlight the many features and fees that are associated with this card, to help you decide if it is the right program for your everyday needs!
PayPower Card Features and Benefits
The PayPower Reloadable Mastercard® Prepaid Card has many great benefits that can be utilized on the daily.
Firstly, the card is accepted worldwide, at any store or online merchant, as long as Mastercard® is accepted at that location.
You can also use your account effectively by paying your bills online. You can simply update the settings in your account, add a payee and schedule a payment! There is a small fee of $1.95 per bill payment, whether it was declined or successfully withdrawn from your account.
However, the convenience of paying your bills on time and accessing them all in one place is a huge benefit, keeping you organized and your finances well managed. The company also created a clever “Dashboard,” which will track your spending and saving habits and alert you when any fraudulent purchases have been made.
There is also no credit check required to sign up for this card, making it a stress-free way to store your cash safely.
PayPower Card FeesPayPowerFees
|New Card activation fee
||$9.95 + tax
||Up to $6.95 (fee varies by retailer and reload channel)
|Direct Deposit fee
|$3.95, plus 3% of total transaction
|POS transaction (PIN, contactless, signature, online, phone)
(In a Foreign Currency)
|3% of total transaction
|Balance at ATM+
|Replacement Fee for lost / stolen Card
|Card refund / cancellation
||$10.00 (if cheque is mailed for Balance)
Just like any card, there are fees to uphold, in order to take advantage of the convenience and reliability features. There is a $9.95 fee for a new card activation and up to $6.95 for reloading cash at participating locations. Additionally, there is a $4.95 monthly fee, to keep the account open and active.
As far as the ATM, there is a charge of $1.95 per withdrawal at Canadian locations and a $3.95 PLUS 3% of the total transaction for international ATM withdrawal, which is quite a hefty fee, compared to most other reloadable cards.
Luckily, PayPower cuts you some slack when making PIN or signature required purchases, as there are no fees associated to that action, unless you make an international PIN purchase, which will run you approximately 3% of the total purchase amount. Utilizing the Direct Deposit option also costs you nothing, making getting your checks easier, faster and more secure than ever. Customer service, online billing statements and ATM balance inquiries are all free of charge. Lastly, there is a $10 charge to order a new card, should yours be lost or stolen.
Overall, the PayPower Reloadable Mastercard® Prepaid Card is quite a pricey account to opt for, unless you are only using it for its direct deposit capabilities or spending on daily shopping, to take advantage of the free PIN transactions.