The Vanilla Prepaid Mastercard and Visa Cards are similar to any of the prepaid cards that can be purchased at any of the Walmart Canada stores. These cards can be redeemed at millions of locations where Visa and Mastercard are accepted, including retail stores and online websites. Among the plethora of cards available today, the Vanilla Prepaid Card is most suited for short-term spending. It offers customers the convenience and flexibility of a credit card without the risk of overspending. The card is available in both Visa or Mastercard payment option and is available at a minimum of $25. This card is ideal for customers involved in short-term spending for small to moderate size purchases.
Denominations of Vanilla Prepaid Card
Visa and the Mastercard versions are two different types of Vanilla Prepaid Cards. The Vanilla Prepaid Mastercard or Visa cards are available in various denominations. At Walmart Canada stores, customers can purchase Vanilla Prepaid Mastercard or Visa cards in a wide range of denominations:
Mastercard is available in – $25, $50, $60 (3 x $20), $100, $200 denominations.
Visa Card is available in $25, $50, $75, $150, $250 denominations.
There is no expiry date on the funds stored in the Vanilla Prepaid Cards. However, that is not the case with the card itself. On the card’s expiry, one can contact Customer Care to request a replacement card that will be mailed to them. Once the user receives the replacement card, one can transfer the available balance to the new card by logging into the account.
One must be aware of the fees associated with the Vanilla Prepaid Mastercard and Visa card. There is a minimum activation fee for the card. Once the card is activated, there are no fees charged to the card. But there are foreign exchange service charges for transactions made in a foreign currency.
Interestingly, Vanilla Prepaid Mastercard and Visa cards can generally be used anywhere in the world that Mastercard and Visa are accepted, including online, at mail order, and point of sale retail merchants. However, there might be some exceptions.
Activation of Vanilla Prepaid Card
How do you activate your Vanilla Prepaid Mastercard and Visa card? Customer’s Vanilla Prepaid Mastercard card can be activated by the cashier at the time the card is purchased. The Vanilla Prepaid Card has no value until the following two steps are done. Firstly, it has to be activated by the cashier at the time of purchase and secondly signed by the customer on the back of the card, where indicated. It is recommended that one should write down the Card number and the customer service number on a separate piece of paper in case the Card is lost or stolen.
When can users start using their Vanilla Prepaid Card?
Only in rare cases can funds take up to 24 hours to be available on the card. However, customers can typically start using their card 60 minutes after the card is activated at the store.
Additionally, it is advised that you should register your address using the card for online or phone transactions. Several merchants use the address as a security check before processing transactions or orders.
Are there any fees associated with the Vanilla Prepaid Card?
Apart from the Activation fee, which is due at the time of purchase, the only other fee applicable to your Prepaid Card is a 2.5% foreign exchange service fee on all transactions made in a foreign currency.
Benefits of Vanilla Prepaid Card
The advantages of Vanilla Prepaid Mastercards include being safer than carrying cash, worldwide functionality due to Visa Card and Mastercard merchant acceptance. Customers do not have to worry about paying a credit card bill. Anyone over the age of 18 can apply and be accepted without regard to credit quality. With a Vanilla Prepaid card, the terms and conditions are very clear and straightforward. This not only makes it easy for a cardholder to use the card and also easy for the credit card company to manage. Moreover, many customers prefer this card because they do not need to bother about the credit card rewards programs or spend enough to earn meaningful rewards.
Credit cards can be expensive and have many hidden costs. Credit cards can prove to be very expensive and always comes with a risky proposition of overspending. They may not be for everyone, which makes Vanilla Prepaid Cards a great alternative. Some prepaid cards can help customers purchase things online, make a hotel booking, or buy an air ticket.
Checking the Balance on the Vanilla Prepaid Card
One can login to their Vanilla Prepaid account at www.vanillaprepaid.com.
One can also call the customer service (Mastercard: 1-800-652-9174, Visa: 1-844-864-6951) to find out the balance.
It is a good practice to check the balance before the user purchases anything. If the merchants are unable to determine the balance on your card or if you purchase something that exceeds your card balance, your purchase will be declined.
Applications of Vanilla Prepaid Card
Here are scenarios where the Vanilla Prepaid card can prove to useful
1) Use it as a Gift
One can purchase this card for anyone as a gift. Instead of buying a boxed gift, Vanilla Prepaid cards can serve as a gift to a partner, spouse, teenager, newly married couple-thereby giving them the flexibility of purchasing something in their own taste. This way, one need not spend time on deciding and searching for the gifts. Simply purchase the card in the denomination of one’s choice and give it to them.
2) As a temporary method of payment
A Vanilla Prepaid Card is a great option if you are going on a short weekend trip in or out of the country for 2 or 3 days. If you are not willing to carry cash, then this card can be used to make purchases on the fly. This card provides a much safer approach as compared to carrying a credit card. If one loses it, it will only be the money with which the customer purchased the card – which is a maximum of $200 for Mastercard and $500 for Visa.
3) As an allowance card
Since the Vanilla Prepaid Card does not have any other fees except the activation and foreign transaction fees, one can get it for their child as an allowance card. This will give the customer the much-needed peace of mind with the view that the child will not be able to overdraw the card. Thus purchases will be made within the card’s limit. This will automatically inculcate a sense of financial discipline.
4) To keep a limit of specific expenditures
Overspending or binge shopping with a credit card is a real risk. One can use this card as a payment method as long as Visa or Mastercard is accepted. This means one can purchase the Vanilla Prepaid Card for a specific purchase to maintain one’s budget. For example, one can purchase one card and use it exclusively for groceries. If a customer is not a fan of credit cards but wants to avail the option of paying with a card that has a limit, this Vanilla Prepaid card would be able to do that.
5) Miscellaneous Expenses
One can get the card for the workplace or employees to purchase stationery supplies for the office, or only to purchase gifts for clients. One can also purchase this card as part of a lucky draw prize.
Pricing of Vanilla Prepaid Card
How much does a Vanilla Prepaid Card cost?
You can no longer purchase Vanilla Reload cards with a credit card. Vanilla Reloads are prepaid cards that you can purchase in amounts up to $500 for a fee of $3.95 each. The customer can then load their value onto a reloadable card such as the MyVanilla, netSpend or Mio and then use those cards to make their credit card purchases, withdraw money from ATMs, or pay bills. All depending on the features each of those cards offers.
The Validity of Vanilla Prepaid Mastercard and Visa Card
Can Vanilla Prepaid Mastercard and Visa Card be used outside Canada? Yes, customers can generally use their card any place that accepts Mastercard and Visa Cards. Suppose a customer makes a transaction in a foreign currency. In that case, the transaction will get converted into a Canadian dollar amount and a 2.5% foreign exchange service charge will be applied to the converted amount.
In simple terms, the Vanilla Prepaid card is a non-reloadable card that comes with the Mastercard or Visa banner. Customers can conveniently purchase it at any participating retail store without the need for a background check or anything similar. Hence, it’s probably a very good choice for a prepaid card if the customer is interested in giving a gift to someone.
Vanilla Prepaid Cards offer the convenience of making purchases both online and offline without the need to carry cash around. Finally, this card is straightforward, with no confusing terms and conditions, and it includes all the necessary perks a customer would be looking for in a prepaid card. These Vanilla prepaid cards have the advantage of simplicity and ease of use and hence are preferred by many.
Also Read these 5 important facts about My Vanilla Card.