The STACK Mastercard is relatively new to Canadians, but let me assure you, it’s one of the best cards to enter the market in the last few years. First off, the STACK Mastercard is not a credit card, it’s actually a prepaid Mastercard. You load your funds via e-Transfer, or Visa Debit and then you can only spend what you have available.
What makes the STACK card really appealing is that it has no foreign transaction fees. To simply put it, there is no cheaper way to get cash in a foreign country. Sure, you can use a credit card without foreign transaction fees to pay for most of your purchases, but STACK would be a complement to your credit card since it allows you to withdraw cash from ATMs with no fees. Keep reading my STACK Mastercard review to find out why this card will appeal to people who love to travel and the general public.
STACK Mastercard benefits
- No annual fee
- No foreign transaction fees
- No ATM fees (ATM provider may charge a fee)
- Discounts at a variety of merchants
- Access to exclusive experiences
- Real-time notifications
- Spending analysis
- $5 free when you sign up with my referral link
At first glance, the STACK Mastercard doesn’t come with a lot of benefits, but that’s because you’re probably comparing it to one of the best travel credit cards in Canada. As mentioned, the STACK card is not a credit card, it’s a prepaid option that lets you manage your money better.
If you sign up to STACK with my referral link, you’ll get $5 when you activate your card. This offer is $5 more than the standard referral of $20 which a great incentive to get you started. Note that you must click this link via your mobile device for it to work.
People choose the STACK card over a debit or credit card for the following reasons. With debit, many of the big banks will charge you a monthly fee for your bank account unless you keep a high minimum balance within that account and you don’t get any rewards. Credit cards offer some great rewards, but the best cards have a high annual fee and minimum income requirement. STACK charges you no fees at all and it gives you rewards so it’s like a hybrid option.
Since STACK is a Mastercard, you can use it anywhere Mastercard is accepted which obviously includes most online merchants.
What’s also interesting about the STACK Mastercard is how it encourages you to save. With every purchase, you can round up to the next $1, $2, $5 or $10 and put it towards your savings goals. Within the app, you’ll see your weekly spending habits so you’ll know where your money is going. STACK basically wants you to own your weekly spending, so you won’t have any issues mastering your monthly or annual budget.
As for the rewards, the STACK card doesn’t use a cash back system as many other credit cards do. Instead, they offer curated rewards which are often more valuable. For example, one of the early rewards was a yearly membership to Amazon Prime which has a value of $79. I also saw a promotion with Foodora where you would get $15 off your first purchase, that could be a 20%, 30%, or even 50% return depending on what you ordered.
No foreign transaction fees
As an avid traveller, I’m always looking to save money. I usually use a credit card with no foreign transaction fees, but obviously, there would be times where I needed cash. In the past, I would always just use a local ATM and just pay the 2.5% fee. This wasn’t a big deal, but in recent years, many banks have upped their fees to 3.5% and then I had to consider the fee my bank charged to use a foreign ATM as well what the ATM provider charged as a one-time fee. As you can imagine, these fees started to add up.
With the STACK Mastercard, you pay the Mastercard mid-market rate when you withdraw money, plus any fee that the ATM provider may charge. You obviously need to make sure you have money on your card before you can make a withdrawal, but there’s really no cheaper way to get the local currency when you’re travelling. Seriously, your bank at home and foreign exchange offices will always charge more which is why I think you need to get STACK before you travel.
How the STACK Mastercard compares to others
STACK is pretty unique so there aren’t many comparables. As mentioned, you could use your regular debit card, but you would be hit with that 2.5%-3.5% foreign ATM fee and possibly additional ATM fees.
You could compare the STACK card to say the CIBC AC Conversion Card. That card allows you to load funds in 10 different currencies. The rates are competitive, but CIBC still adds a bit of markup. With any non-supported currency, the usual 2.5% fee would apply. CIBC also charges $3.50 – $5 per withdrawal, so even this card adds a lot of fees over time.
There’s also KOHO which is another prepaid card who charges a reasonable 1.5% foreign transaction fee, but clearly, the STACK Mastercard is the better deal since it charges you no foreign transaction fees. In case you’re curious, here’s how STACK compares to KOHO.
Final thoughts
My STACK Mastercard review is clearly positive. If you ever travel outside of Canada, you need to have this card. Since it’s a prepaid card, your credit score doesn’t take a hit when you apply. Use my referral link now and get $5 when you activate your card. Note that you must click this link via your mobile device for it to work.
This article seems like some bogus pay for play…. the company is out of money, but is still willing to pay for nonsense “promotion” like this, which is actually useless.
well done, Miro.
Steven,
This is not a sponsored post. If you look at the posts on my website, anything sponsored is clearly disclosed. I do get a referral credit when people sign up with my referral link, but that applies to anyone who has an account with STACK. I’d be interested to hear about your accusation that the company is out of money. Do you have any evidence or reference material to back that claim up?
Our experience is this. Stack said card on its way. We waited extra days. Blamed canada post, re ordered. Then a month latter stack said, oh, sorry, the print date and mail date were wrong. We had a issue. Question, why lie?
Got re issued cards, loaded with money, 4 days latter, no money. Got hold of stack, oh normally takes a hour, sorry, i see the money, issue at our end.
3 days latter, no money. NOW, as a company that has your money i would call BS on trust.
Real-time notifications?
Sean Paul,
You get push notifications when you make a transaction.
FYI, the Interac Online load option is gone.
Thanks Bill, I’ve just updated the post.
According to https://support.getstack.ca/hc/en-us/articles/360007755394-How-do-I-put-money-onto-my-STACK-Card- “4. Interac e-Transfer” is still listed as an option. Based on the prior comment by Bill, February 4, 2019, is this info on the getstack.ca website wrong?
Hi Boz,
I believe Interac online is different from Interac e-Transfer.
Interac e-Transfers are still an option to load your card.
Oh, okay. Thanks for the reply with clarification.
Are the funds available immediately when you load with visa debit?
yes, you’ll see your funds pretty within 15 minutes of loading it.
They are not issuing new cards until the end of March. It could be a sign of financial problems. After the Quadriga fiasco, I’d be cautious about loading much money onto a Stack card. Here’s part of the message I got about the “delay” issuing new cards:
“we will be unable to deliver cards until March 25th”
Hi Ralph,
I looked into this. Stack’s card issuer CPI was recently bought and the new owners decided to stop serving Canada. They’ve now with a new card issuer, but since this just happened, it’ll take them until the 25th to be fully operational. Once that new partnership is in place, getting cards to customers will actually be quicker.
Hi Barry, touched your link and received a message saying Safari could not open page because of “address is invalid”
Hi Keimei,
When you click the link via your mobile device, it should take you to the Apply or Play store.
I just checked the links and they should be working. If you click via a web browser, the special promo doesn’t apply.
Darn it. I only got $20 when I signed up with someone else’s link. I should have waited for yours Barry!!
I just signed up using your referral for Stack. How do I get my $25? Or where would I see this?
I believe it’s posted after you fund your account and make a purchase.
Hi, I don’t actually see on the stack website where to apply for the card. Is there something I’m missing? Have they stopped taking new clients? Regards.
Missed the last note you have to click the link on your mobile device and sign up via the app.
I clicked on your link to download the app and signed up. It says it will mail me the card, but i don’t see $25 in my account. Is it because I’m in Canada?
Hi Jackie,
The credit should appear once you get your physical card. If you don’t see it when it arrives, just reach out again and I’ll email their support on your behalf.
When you pay at a merchant, is Stack defined as a debit or credit using the machine?
Chris,
It’s considered credit from the merchant’s perspective.
I just received an email that the cards are delayed AGAIN…
I inquired and this was the response: “Unfortunately we do not have a specific date, we do apologize for the inconvenience.”
I have been waiting 1.5 mo’s for my card. Not impressed. 🙁
Sue,
I checked and they told me they got a new card provider which was the reason for the first delay. I’ll look into it.
https://support.getstack.ca/hc/en-us/articles/360007853453-How-long-will-it-take-to-get-my-STACK-card- now indicates: “We are currently changing our card printing provider so we can deliver the best possible service to our STACK members. Our new card printer will reduce delivery times and overhead costs.
As it turns out, it’s taking a little longer than planned and we anticipate that we will be sending out cards in April.”
I am a bit confused. Do I apply online, they will send me a physical card, then I have to download an app on my phone to use it? Judging by whatever problems/changing they’re going through, they have no idea exactly when they will send out new cards until some time in April. Too bad, I need one in 10 days. Will have to look for something else.
Al,
Omce you download the app and set up your account, a card will be mailed out to you. As you’ve noticed they have a delay right now.
An Alternative is KOHO but they charge a 1.5% foreign exchange fee.
Thanks for this! Am I cutting it too close to apply and expect to receive my card before I travel on April 15? (Given the issues with delayed card delivery)
Andrea,
Due to the delays, I doubt you’ll get your card before your trip.
Hi I used your link but was on my desktop, when I realized i had to use my phone I just went straight to the play store and downloaded the app. It seems I missed any $20 or $25 bonus. Is there any way I can now add this? I just joined now and they said the card will be mailed out.
Mark,
It likely won’t work, but if you email me with the email address you used to apply, I can reach out to STACK to see if they can still give you the $25 referral credit
Do you know if the referral is still on?
As long as your clicking the link via your phone, the referral link still works.
Hi Barry, thanks for the write-up! Good info. I used your link to sign up but it just pushed me to download the app on iTunes. Once I completed the registration there was no mention of the referral or credit. Are we supposed to see the credit right away or after the card is registered?
Hi JT,
Once you get your card and deposit any amount, your bonus for using my referral should appear. If it doesn’t, let me know and I’ll reach out on your behalf.
Great. Thanks!
Link didn’t work. Opened Google play store and said not found
Hey Andrew,
I just checked with STACK. Apparently the app was auto-flagged because of a third party software development kit. They’re working with Google now to get the problem rectified which will likely take 2 days.
Can l use the card in a physical store in Canada to pay for goods.
Hey Thomas,
Yes, this card can be used anywhere Mastercard is accepted.
Still get $25 for using your link? Is there still delays with cards?
Nav,
The $25 referral applies. I’ve been told that cards are being sent out on a regular basis.
Great, thanks!
I just signed up using your link, but I do not see any evidence of the sign-up bonus…will that happen when I get my card? Also, how long would you expect it to take to arrive? I am going on a trip on June 26th and would love to have it then. Last question…is the STACK card contactless? Can I tap it?
Elena,
The referral bonus is added to your account after you get your card and you load funds to it. I’m not sure about the current delivery time of the card, you may want to contact STACK directly to find out.
I received my Card today, I have not activated it as yet with the phone call.
Q….Can I tap this card at merchants
……Can I set up an account and make deposit/payments via my bank account
…….How can I get the Bonus.
Thanks
David,
Yes the card has tap. You can make e-transfers from your bank to your STACK card. TO get the bonus, click my referral link via your mobile phone.
Hi. I signed up before clicking your link. Before i activate my card, can you send me your email address and name so i can get the $25 bonus? They are asking the name and email address of the one who sent the link for me to get the bonus. Thanks
Jeanette, if you tell them you signed up via Money We Have, they should have all the info.
If that’s not enough just say Barry Choi, barry.choi@gmail.com
Hi there,
I accidentally activated the card before clicking your link. They said they can still add it but with a name and email. Any chance you could provide an email? Please let me know, thanks!
Bruni, if you contact customer care and told them you signed up via Money We Have, they can manually add the credit to your account.
They applied it, thanks!
I don’t have a smartphone….can I use my IPad instead?
S Sharpe,
That should work. If the credit isn’t applied, you can reach out to customer service and tell them you signed up via Money We Have and they’ll apply you the credit manually.
i do not do any banking on my phone – is it still possible to use STACK?
Marjorie,
You can still get the card but to monitor your account, you would need the app.
You mentioned that the ATM may charge a fee. Are there specific ATMs that wouldn’t? (for example, with Tangerine, Bank of America ATMs are free)
Shawn,
I’m not aware of a formal list of ATMs that don’t charge fees, but I know HSBC doesn’t charge fees so I would use them whenever I was in Asia or Europe.
Is there any information on what happens if I load up the card, and STACK goes bust or calls it quits. Is the money held by STACK or is it held by Mastercard?
John,
STACK is backed by People’s Trust who is insured by CDIC. Although the funds you deposit to STACK aren’t technically protected, you do have a layer of insurance due to the backing of People’s Trust.
Is there a way to transfer funds back off the card to another bank account? This is something I would likely only use for travel, so I wouldn’t need to keep funds in there all the time.
I understand I’d need something in there so it doesn’t become inactive.
Randy,
YOu can withdraw money from an ATM at home if you need to get funds off but you’ll likely be charged a one time fee. E.g. TD charges me $3.
Hmm. So no way to do an Interac transfer to a standard bank account?
Randy,
Nope
Merchant holds do not drop off automatically for some reason. Cardholder has to phone Merchant for a refund of the hold transaction.
Only draw back at this point.
I got the card, but had issues related to the the pin for use when making purchases.
When I signed up using the app, I was given the option to select my pin for making purchases with the physical card. I did, but when I tried to activate it using their telephone system (the card comes with a message to retrieve your card pin) the system then responded that I had used the wrong pin. The rep treated me like an idiot, saying that the pin to get into the app and the pin for making purchases were different….duh, I get that! She then said I first had to get a randomly activated pin and then buy using the physical card with the randomly activated pin, then change it after. (Nothing like this was mentioned in the online app application.)
I had to call customer support a second time, because when I called to now get a randomly activated pin, the system told me that my entire card was deactivated. I had to get it reactivated, and then the rep told me my in-store pin was active, supposedly the one I had selected when filling out the application using the app. But, she wasn’t sure. What? So now I’m going to go to a store to see if the pin works…..or if the card only works with some randomly activated pin that I don’t know about!
I tried registering for a Stack MasterCard but they required my banking card number and password to be given to them online as well as s recent statement from another of my financial institutions or a utilities bill. This made me very uncomfortable so I opted out of the application.
It seemed like s great card to have since I’ll be attending university overseas for several months.
Like the previous poster, I was also asked to submit two PDF documents to verify my ID. I have a mobile billing account where I could provide my full name and address. For the second document, I asked if they would accept anything other than a bank statement because I don’t do online banking they basically told me they wouldn’t accept applications without a recent financial statement. In that case, if you don’t do online banking, you’re not qualified for Stack. Too bad.
Hi, Barry.
I signed up for STACK Prepaid Mastercard based on your advice. The card is on its way and I can’t wait to put it to the test when I travel to Spain next month! I’m keeping my fingers crossed that the card will arrive in time… a bit nervous about the negative comments about not receiving cards in a timely manner or the issuing company out of money though…
Now, I’ve just realized that I had neglected to click on your referral link to do my registration, so I phoned STACK’s Customer Service as to what I could do about it. They told me not to worry and contact them again after I activate the card with your email address and mine so that they could credit the bonuses in our accounts. Yay!
I just wanted to make sure I’ll provide them with the correct addy for your referral bonus. Do I use your addy at moneywehave.com?
Thanks and keep up the good work!
Hey Nikki,
barry.choi@gmail.com is the right address. You can also use the chat in the app and tell them you signed up via the Money We Have link and they should know what to do.
I signed up for STACK Prepaid MasterCard on July 10. Received their welcome note immediately which was followed by several emails encouraging me to activate and transfer funds into my account so that I could start using the “virtual card” in the following 2 weeks. “You don’t have to wait! This is how…” the emails said.
Without having received a physical card in the mail, I opted to wait until the card arrived.
Almost 4 weeks and a trip to the US later I finally phoned their Customer Support who kept sending me emails saying, “Activate your card now and load funds to start enjoying STACK Prepaid MC.”
A Customer Support rep told me they had some computer issues around the time I initially signed up. “Unfortunately, a few customers got affected and have not received their cards,” he explained. He assured me that the problem had been resolved and cards had been already issued to those new registrants who had been kept waiting Including me. In fact, he added, “The account record shows your card was sent out in the mail on July 30.”
Well, it has been almost 3 weeks or 14 biz days since that date and still NO CARD!!! Not to mention 6 weeks/28 days from the original sign-up. I’ve already lost my faith in STACK and its associated financial institution, to be honest.
Am I a rarity in this? Or are there others in the same boat? I’m now hesitant to activate my card even if I do receive it. Any input from the current STACK cardholders?
Hi Nikki,
I have the card and haven’t had many issues with it. Getting it may have been a pain, but at least you have it now.
Hi, Barry.
I’m glad the card is working well for you. I wish I had the card and enjoying all the benefits too!
My apologies if I didn’t explain myself well or somehow got the facts wrong, but I have NOT received the card yet.
Hey Nikki,
I can confirm that they did have card printing issues but I do agree that STACK should have been more clear about the process. If you’re travelling soon, you may want to look at the Rogers World Elite Mastercard (no-fee) or the Scotiabank Passport Visa Infinite card ($139 annual fee) both have an income requirement of $80K though.
Once your STACK card does arrive, I think it’s worth hanging onto as it’s the cheapest option to withdraw money from foreign ATMs
A QUICK FOLLOW-UP:
Just phoned and spoke with their Customer Support again.
Their story now is that they’ve just found out the card supplier has “a card shortage” and the cards STACK Canada thought had been sent out haven’t been sent out at all, and they “hope” the card supplier will resume issuing the cards at the end of this month (=August) and those who have been waiting will receive their cards in 5 to 10 business days from the date of email shipping notice.
Not sure if I believe what I was told… The rep was rather rude interrupting me and kept saying, “We’re very frustrated too, but there’s NOTHING we can do.” My question was, “Why not just contact those who have been waiting and explain the situation?” I also asked why they haven’t put a notice of this current situation on their website and the rep said they had done so a few days ago, but I don’t see such notice or warning on their website. I’m beginning to wonder if the rumour that Peoples Trust is in financial trouble may be true…
This means that the card will not arrive in time for my next overseas trip. Too bad STACK Prepaid MC sounded pretty good, but I will have to do more research to determine if the card is for me…☹️
Thanks for your email address info. I’ll make sure to mention your website as well.
Have a nice day!
Hi Barry,
Thanks for all the information. I have signed up with STACK and will try it out. I was looking for an easier way to transfer money for my son (from Canada when he is in Spain). I looked around and found this card is comparable to Monzo which is popular for UK residents.
Barry, I just received my STACK Prepaid Mastercard in the mail even though I was told that the card would not arrive until mid-September at earliest!!! I immediately phoned their customer support and asked for my $25 sign-up bonus & your referral credit too 😉
The huge delay in their card delivery (= 6+ weeks), I’m willing to give STACK a fair trt, especially I’m about to take a holiday abroad. I’ll let you know how the card performed for me when I get back.
Until then, thanks & take care.
Hey Nikki,
Good to hear you got the card. Hopefully, everything goes smoothly now that you have it. Enjoy your travels!
thanks for the review Barry, I just used your referral link via mobile to get the app!
But can you confirm if the Visa Debit option to transfer money/load card is no longer available? I looked on the app itself and STACK website and the only options left are: Stack-to-stack transfer, interact e-transfer, cash load, payroll direct load, bank payee (like “paying your bill,but takes 2-5 biz days). thanks!
Pylin,
That’s correct, Visa Debit is not an option to load money.
Apparently, cash load option too has been disabled until further notice is what I’m told y customer service. What’s going on ? Why would they do that?
I used your link and got $25. Koho is good but they need have their premium account without any fee. Their basic account sucks
I also found out that if you stay away from Canada for extended period of time, Stack will cancel your account. That Sucks! My mom wanted to have the card but she wants to retire overseas, she wont be able to use this card. Koho, allows that but don’t like paying $84 / year to get fx transaction fees waived. If Koho, make their premium account fees free, then it will instantly become BEST Debit Prepaid Card in Canada.
If you are in Canada, have you thought of using virtual card (her account) here once a month to buy coffee or something? Maybe that’ll do?
I didn’t know that?! Is it because of inactivity? How long does it have to be inactive before Stack closes your account? What if there is money on the card still?
Can I use this to book flights/hotels online? It seems clear that I can use it while I’m out of the country for purchase etc, but I’m not sure if it’ll allow me to book these things that normally require an actual credit card.
Kitsune,
STACK is a prepaid credit card so you can use it to purchase anything as long as you have the funds. That said, since you don’t earn any actual cash back or points with this card, you’re better off using a credit card that actually earns you something.
Thanks for replying! I’m on the same camp as others with managing finances, so getting a secured credit card again is something I’d want later.
Koho and Stack will help with purchasing anything needing a credit card, though online I just use PayPal where it’s accepted.
I do know some airlines do not accept pre paid cards so that’s why I’m curious if anyone has actually booked with theirs. I reached out to Koho on Instagram to ask if this is currently something I can do on theirs! Pls let me know if you have! Thank you!
Kitsune,
I see your point of view. I can’t comment on the best practices by airlines, but STACK does use Mastercard’s network.
Hi Barry, I just signed up using your link, they said card is on the way. I’ll let you know if I get my $25 after activation.
Stack is crap. They don’t honour what they promise. Card was declined multiple times, even though enough funds were in the account. Customer service very rude. Highly do not recommend.
Hey Barry,
I used your link (in the beginning of September) but did not receive $25 dollars. Can you help?
Hi Manish,
STACK changed their referral to $5 regardless of when you signed up. If you reach out to customer service via the app and tell them you signed up via Money We Have but did not get your bonus, they should be able to credit you.
Hi Barry,
Have you or your readers noticed that the instant notifications for purchases and for new offers don’t come through anymore? I’ve been missing out on the last couple grocery offers because I didn’t know about them! I don’t login to the Stack app much.
Be advised everyone, they changed it to $5.
$20 referral is gone.
Even contacting customer service won’t work. All you get is $5.
They change conditions on promotions without informing you. They update their terms and conditions and you are suppose to read it every month. When you talk to customer service they are rude and refuse to help you and if you cancel card they will hold your money for 45 days any balance that you have since its prepaid card.
Hi, Barry.
I just returned home from a trip to Spain. Here’s my firsthand experience with STACK Prepaid Mastercard after having actually used it for several weeks abroad,
To sum up, STACK performed beautifully! Can’t speak for others, but it worked FLAWLESSLY for me in Spain.
Before I left Toronto, I had set up a bank account which allowed me to make an unlimited number of e-transfers free of charge. This included Interac e-Transfers. I kept the balance on STACK relatively low (C$100 – $150) throughout the trip and loaded as I needed more. It worked great. A single transfer was complete within 30 min to an hour, in some cases less than 10 min, and, voila, the balance up again. I liked receiving 2 notifications when I loaded the card: one from STACK and the other from my bank. Very assuring.
It may be worth noting that I limited my use of STACK for small expenditures such as dining out, grocery and short-distance transportation (taxi, train tickets, etc.) where purchase protection didn’t matter very much.
What I liked most about using STACK was the instant notification. Notification arrived my smartphone before I even exited the restaurant or reaching our lodging from the grocery store… in Canadian dollars, no less!
In the past, I was frustrated that credit card charges took at least 24 hrs, sometimes days, to show up on my online statement. It made me nervous when I encountered dubious situations and wasn’t sure if the correct amount was charged. Plus, my banks (= credit card issuers) weren’t so forthcoming about their service fees which were embedded in their conversion rate. I was never sure if it was the merchant or the bank who was inflating the costs.
With STACK, everything was easy & clear. No foreign currency conversion rate mark-ups. No foreign transaction fees or ATM user fees. The charges were shown in Canadian funds and they were “dead-on” with the international exchange rate posted by Mastercard for that day. I could withdraw cash from ATMs without paying any user fees. [NOTE: Used ATMs only at bank branches and those charged no user fees. In Spain, the fees varied between 0 to 5 euros, so it was important to check first.]
Having my STACK card was like carrying “cash” in my wallet without high risk of theft or loss by carelessness. I’m not in the habit of carrying a lot of cash even back home in Canada, so this suited me just fine.
I still miss my Amazon.ca Rewards VISA Card, but STACK is pretty good and, in some ways, it’s better. I found it very curious to read some very negative comments about STACK in here. I totally agree that STACK should improve their customer service as I too had a few very unpleasant encounters with their rude reps on the phone. The physical card took forever to arrive too (in my case about 7 – 8 weeks). But the concepts work. And, for me, this is the only reasonable option for a foreign transaction fee-free card that doesn’t charge an annual fee. It works great while travelling abroad as well as making small online purchase in foreign currency.
Barry, thank you very much for recommending this card for overseas travels. Your advice was right on MY money!
Hey Nikki,
Thanks for this detailed review of STACK. I love the card and have had no issues with it.