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CIBC Air Canada Prepaid Card Overview

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A prepaid card deserving the attention of any Canadian travelling abroad is the CIBC Air Canada AC Conversion™ VISA* Prepaid Card (“CIBC AC Prepaid Card”). This prepaid card lets you load up to 10 different currencies to ease your spending needs during the trip.

Consider it as a great buddy on foreign trips that helps you save on the exchange fee many credit cards could charge you for loading different currencies.

The central detail about the CIBC AC Prepaid Card is that it’s a prepaid card that eases payment during international trips.

It allows you to pin down the exchange rate, which favourably helps to avoid the effect of market fluctuations. This card supports up to 10 currencies and also gives a cashback of 1% on your local and foreign online transactions.

Aside from not queuing at the bank to exchange cash for trips abroad, there’s more to this prepaid card. Read on for a detailed CIBC Air Canada AC Conversion™ VISA* Prepaid Card review to facilitate your decision-making.

CIBC AC Prepaid Card: how it works

The CIBC AC Prepaid Card is a reloadable prepaid card you can purchase wherever Visa is accepted. It’s designed for frequent travellers who want to save on foreign exchange fees while earning Aeroplan points on everyday purchases.

Here’s how it works:

  • Purchase the Card: You can purchase the CIBC AC Prepaid Card at any CIBC branch or online through the CIBC website.
  • Load Money onto the Card: Once you have the card, you can load it with funds at any CIBC branch, online, or on the mobile app. You can load up to CAD 3,000 onto the card per day.
  • Start Using the Card: Once you have loaded funds onto the card, you can use it to make purchases anywhere Visa is accepted. You can also use the card to withdraw cash from ATMs accepting visas.
  • Earn Aeroplan Points: Every time you use your CIBC AC Prepaid Card to purchase, you earn Aeroplan points. You make 1 Aeroplan point for every $1 spent on eligible purchases.
  • Manage Your Account: You can manage your CIBC AC Prepaid Card account online or through the dedicated mobile app. You can view your balance and transaction history and set up alerts to keep track of your spending.
  • Reload the Card: Once your balance is running low, you can reload the card with more funds at any CIBC branch, online, or on the dedicated mobile app.

Essential information

cibc air canada conversion card login - comparewise

Network

It is a Visa Prepaid Card and not a credit card. That means you are not using it to borrow from the bank but rather load your money into it for future spending. So, take it as good news that you do not have to worry about incurring debt to the card.

Provider

In partnership with Visa and Air Canada, the Canadian Imperial Bank of Commerce (CIBC) offers the CIBC AC Prepaid Card. The card facilitates cardholders’ spending needs by enabling them to load a certain amount of cash. That amount can be in up to 10 currencies on one card and at a lock-in exchange fee.

Card type

The card gives cashback on all purchases, but for a limited time. That offer is an excellent way to ease the chills of spending during a trip when prices will likely go up.

Rewards

The rewards associated with the CIBC AC Prepaid Card are:

  • Save on foreign currency exchange fees in select currencies with the CIBC AC Prepaid Card.
  • Periodic chances to win plane tickets, courtesy of Air Canada, with secondary prizes like winning a cashback that’s up to $150 within a limited time.
  • Access to live updates on foreign exchange (FX) rates and a chance to get reasonable rates.
  • Safe way to manage your fund on foreign trips.
  • Cashback policy for national and international purchases for a limited time.
  • There is no transaction charge on your spending while abroad.
  • Multiple currencies support.
  • No extra conversion fee.
  • Lock-in your exchange rates.
  • Welcome offers available.
  • There is no annual charge for the maintenance of the card.

Cashback

Based on the CIBC Air Canada AC Conversion™ VISA* Prepaid Card review, there is a 1% cashback for your purchases, but for a limited time. Check to ensure that the cashback bonus is still active and also when the offer ends.

Travel insurance

The CIBC AC Prepaid Card doesn’t offer travel insurance. It doesn’t cover extra benefits like trip interception, travel medical, motel/hotel, and baggage upon sign-up.

Other perks

Aside from the benefits of the CIBC AC Prepaid Card already highlighted, there are some other Perks to look forward to.

  • Seamless transfer operations using the conversion app to make inter-currency transfers.
  • There is no withdrawal fee for withdrawing within Canada from CIBC ATMs
  • Enjoy one monthly free withdrawal from non-CIBC or other international ATMs
  • Access to 24/7 customer support when the need arises
  • For stolen or misplaced cards, each card has an installed identification technology for security.
  • Facilitate online shopping on local and internationally recognized e-commerce platforms.
  • Access to a CIBC AC conversion mobile app so you can track your money conveniently and check your balance.

Cost and fees

  • $0 annual fee
  • $0 transaction fee (if you load the currency on the card)
  • 2.5% foreign exchange rate for transacting in non-supported currencies
  • After the once-a-month free withdrawal, CAD 3.50 or equivalent for withdrawing from non-CIBC ATMs.

Requirements for card eligibility

To qualify to own a CIBC AC prepaid card, here are some requirements you should satisfy:

  • Not less than 18 years old
  • A permanent resident or Canadian native

Necessary details for documentation

  • Full name
  • Date of birth
  • Email address
  • Phone number

Application method

To apply for CIBC AC Prepaid Card, simply take the following steps:

  • Go to the website and click the Account application
  • Read and accept the terms and conditions
  • Fill in the required details
  • Review and submit your application

Currencies supported

You can load the following currencies onto your CIBC AC Conversion Visa Prepaid Card using the CIBC AC Conversion app:

  • Canadian dollars
  • U.S. dollars
  • Euros
  • Great British Pounds
  • Australian dollars
  • Japanese Yen
  • Hong Kong dollars
  • Turkish lira
  • Swiss francs
  • Mexican pesos.
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Is the CIBC AC Prepaid Card safe and secure to use?

Safeguarding your CIBC Air Canada AC conversion Visa Prepaid Card from fraudulent use is cutting-edge chip and PIN technology. This package includes safeguards against card and account information theft, emergency card replacement, and cash delivery.

Benefits of CIBC Air Canada Prepaid Card

Here are some benefits drawn from CIBC Air Canada ac conversion visa prepaid card review:

Multiple currency load

It’s a favourable option for loading various currencies in 1 card for spending needs within and outside your country. It supports up to 10 different currencies.

Lock-in exchange rate

You can lock in favourable exchange rates whenever you load up the CIBC Prepaid card. That saves you from suffering from unpleasant fluctuations in exchange fees.

No extra charge on currency conversion

There is no payment of additional charges for currency conversion.

Convenient sign-up process

Becoming a CIBC AC Prepaid Card holder is relatively easy. You can sign up online or at the physical branch of Pearson Airport.

Being a customer isn’t mandatory

You can own a CIBC AC Prepaid Card without banking with CIBC.

No credit checks

Credit checking is not a requirement since it’s a prepaid card, and you’d load it with your money.

Countries support

You can choose ten different currencies from up to 45 countries.

Cash back

You are eligible for 1% cashback on your online purchases for a limited time.

Cons of CIBC Air Canada Prepaid Card

We cannot overemphasize the benefits of the CIBC AC prepaid card to mainly frequent Canadian travellers. However, there are some other things to know about this prepaid card.

Currency is limited

Although the card supports loading cash in up to 10 currencies, it’s still a limitation. There are over 170 currencies globally so, travellers may still have to deal with the 2.5% charges for using this card if they transact in currencies the card doesn’t cover.

Are you a frequent traveller who would instead enjoy zero charges for using a prepaid card? We recommend a zero-transaction charge card for your foreign trips.

Insurance is not included

No inclusion of insurance is a common demerit with prepaid cards. Even though there are charges for issuing the travel card, it had no insurance support.

Are you someone who prioritizes travel insurance? Using this card solely for your purchases when on a foreign trip is better. That way, you’d place the other costs for the trip on credit cards so that insurance covers it if an emergency arises.

Credit is not supported

This card is a prepaid card, so it offers no access to credit. You only have access to the amount you load on it.

Withdrawal fee on non-Canadian ATMs

Aside from a monthly zero charge for using non-CIBC ATMs, you must pay CAD 3.50 or its equivalent for withdrawing cash from international ATMs.

How do I load up my CIBC AC Prepaid Card?

To load or reload your card, use the mobile app or log in to your account on acconversion.CIBC.com. The website is also accessible on your mobile device, allowing you to add funds while on the go.

How do I check the balance on my CIBC Air Canada Prepaid Card?

Checking your account balance is seamless and can be done by simply doing any of the following:

  • Log onto your account via the website
  • Download and use the app on either an Android or iOS device
  • Dial the number on your card’s back and follow the prompts to speak with a customer care agent.

CIBC AC Prepaid Card conclusion

The CIBC AC Prepaid Card is made to help you keep track of your money whether you shop or vacation abroad. This includes making ten currencies accessible and enabling quick and straightforward currency transfers utilizing the Conversion mobile app.

Additionally, it’s free to use and offers a one-time 1% reward return on purchases when you sign up. Just be mindful of foreign ATM withdrawal fees if you’re attempting to save money.

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FAQs about the CIBC Air Canada Prepaid Card

Do I need to sign up for the 1% cash back?

No, you don't need to sign up. The cashback offer on the card automatically applies to every card owner, though with specific terms and conditions. However, this promotion is time-limited.

Is there a minimum or maximum amount loadable to the card?

No, the card has no minimum loadable amount, but yes, it has a maximum loanable amount. The amount it can hold at a time doesn't exceed $20,000 CA, and it's equivalent in any currency of your choice. Also, within 24 hours, you cannot load more than $3,000 CA and its equivalent.

Do I get charged transaction fees?

No, you don't have to pay transaction fees if the currency you pay is loaded on your card. However, when you transact with no money loaded on your card, you must pay a foreign transaction fee of 2.5%.

What are the fees associated with CIBC Air Canada Prepaid Card?

Usually, the terms and conditions provide you with all related fees. The card has no monthly fee, cost per transaction, or foreign transaction fee. However, you are charged if you withdraw from non-CIBC ATMs more than once a month.

CIBC Air Canada Prepaid Card Details

Provider
CIBC
Network Provider
Visa
Card Type
Rewards
Rewards Type
Travel
Annual Fee
$0
Credit Needed
Poor (300 - 559)
                                                                                                                    

CIBC Air Canada Prepaid Card Offices

Phone Number
1 (800) 465-2422
Email
client.care@cibc.com
Hours
Monday to Friday, 8 am to 10 pm ET and Saturday, 9 am to 5 pm ET
Website
Address
199 Bay Street, Commerce Court Toronto ON M5L 1A2 Canada
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CIBC Air Canada Prepaid Card Card Details
  • Min. Credit :
    Poor (300 - 559)
                                                                    
  • Card Type : Rewards
  • Reward Type : Travel
  • Providers : CIBC
  • Network Provider : Visa
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