Category Archives: Off Topic

BMO Bank of Montreal launches a Prepaid Travel Mosaik MasterCard

According to Report on Business, Bank of Montreal is launching a Prepaid Travel Mosaik MasterCard. It can be pre-loaded with funds and then used while traveling to pay for purchases or to withdraw funds in local currencies from participating ATM networks. According to the bank, the card is safer than cash, because if it’s lost or stolen, it can be cancelled and the funds replaced. All true but if someone has an existing credit card then they can obtain the same benefits by simply making a deposit before a trip. I guess the real benefit will be for those with poor credit ratings who do not otherwise qualify for a credit card.