A Borderless Debit Card Is Coming To Canada And You Can Use It In Any Country With No Extra Fees
Yay cheap travel!
Traveling aboard is great, it’s always fun to expand your horizons with some adventures in another country. But paying for stuff while traveling - well that's not so much fun.
There’s always hidden fees when purchasing things in the United States or Europe simply because you've left the country and are converting currencies.
But that’s all going to change very soon.
A financial technology company, called TransferWise, is planning on releasing a MasterCard that you can use in any country with zero extra fees for your purchases.
The idea is that you will be able to have a balance on the card in multiple currencies.
So if you’re in France, for example, you could have a balance in Euros and use that to pay for everything without having to pay fees for each transaction that you make while you’re on holiday.
The same will be true if you’re traveling in the States, Mexico, Cuba or wherever you want to go to on the planet.
There will also be no limit to the balance you can put onto the card in another currency.
This is particularly convenient if you’re planning a big trip where you’ll be out of the country for a week or more and will need to make lots of purchase for things like hotels, food and attractions.
Unfortunately the only drawback with this amazing card is that it isn’t here yet, it’s slated to be released to Canadians in 2019.
But once it is you’ll be able travel for a lot cheaper.
Source: Toronto Star