Compare Travel Money Cards in Canada

Live offers

19 live offers compared from 16 providers, from C$0 /month. Updated daily.

What is a travel money card in Canada?

A travel money card lets Canadians spend abroad without the foreign-transaction fees and poor exchange rates of a standard credit or debit card. These are typically prepaid or multi-currency accounts — from fintechs like Wise, KOHO, Neo and Wealthsimple, or bank travel cards — that let you hold or convert currencies and pay in local money at close to the real exchange rate.

The main saving is avoiding the roughly 2.5% foreign-transaction fee most Canadian credit cards add on every overseas purchase.

How the Canadian market works

The market has two flavours: multi-currency accounts like Wise that let you hold and convert dozens of currencies at the mid-market rate, and no-foreign-fee cards from fintechs such as KOHO, Neo and Wealthsimple that waive the FX surcharge on spending. Some bank cards (from CIBC, Scotiabank and Simplii/PC Financial) also target travellers. Cards are used via tap, chip or ATM withdrawal abroad, with app-based control over balances and freezing.

The features to compare are the FX margin, any ATM-withdrawal fees, and whether you can pre-load and lock in currencies.

Benefits

No FX surcharge — avoids the ~2.5% foreign-transaction fee on ordinary Canadian cards.

Fair exchange rates — multi-currency accounts convert near the mid-market rate.

Budget control — prepaid balances and app controls curb overspending abroad.

Multi-currency holding — lock in currencies before you travel and spend from local balances.

How to choose

If you travel to many countries, a multi-currency account like Wise that holds and converts several currencies suits you; if you want simplicity, a no-foreign-fee card from a fintech works everywhere on the card network. Compare the FX margin, ATM-withdrawal limits and fees, and whether the card charges monthly. Check that it is widely accepted at your destination and that the app lets you freeze the card if lost.

Leading providers in Canada

Wise leads for multi-currency holding at the mid-market rate, while KOHO, Neo Financial and Wealthsimple offer cards that waive foreign-transaction fees on everyday spend. Among banks, CIBC and Scotiabank offer traveller-oriented cards, and Simplii and PC Financial provide low-cost options. Many travellers pair a Wise account for currency conversion with a no-fee fintech card for tap payments.

What it costs

Leading travel cards charge no monthly or annual fee and no foreign-transaction surcharge, so the headline cost is effectively zero. The real costs to compare are the exchange-rate margin on conversions (very small on Wise), any ATM-withdrawal fees beyond a free monthly allowance, and inactivity or reload fees on some prepaid products.

Protections and regulation

Fintech card issuers partner with regulated Canadian financial institutions, and prepaid balances are typically held with a CDIC-member bank, though prepaid funds are not always deposit-insured in the same way as a bank account — check each product. Money-services providers register with FINTRAC, and in Quebec with the AMF. Card-network zero-liability rules protect against unauthorized transactions.

Common questions

How do these save me money? — They waive the ~2.5% foreign-transaction fee and use near-mid-market exchange rates, unlike standard credit cards.

Are they safe to use abroad? — Yes; they run on major card networks with app controls to freeze the card, and balances are held with regulated institutions.

Should I pre-load currency? — With a multi-currency account you can lock in rates ahead of travel; no-fee cards simply convert at spend time.

Travel Money Cards in Canada — FAQ