How is the Canada Post reloadable Visa prepaid card different from the Visa gift card, or regular credit cards?
The Canada Post reloadable Visa prepaid card is not a gift card or a credit card. Here is what makes the reloadable Visa prepaid card different:
- It’s prepaid. You need to add money to your Canada Post reloadable Visa prepaid card in order to use it.
- It’s not credit. The card is not a line of credit like credit cards and does not affect your credit rating in any way. No credit check is required and the card is not reported to credit rating agencies. You can only spend what you have loaded on the card.
- It’s personal. To buy a card, you need to show valid government-issued personal identification. The card cannot be given to someone else as a gift.
- It’s versatile. You can reload the Visa prepaid card and use it at ATMs and banks to make withdrawals.