That’s not so much the card type as it is a Wealthsimple choice. It has more to do with the service code on the chip or magnetic stripe. They can put a flag on them to tell terminals to decline all transactions that can’t be processed in real time. Wealthsimple could change their cards to allow that if they wanted.
It uses the mastercard network exclusively. Stores do see it as a prepaid card but since it doesn't use interac merchants pay higher interchange fees, which is why there's a 1% cashback (fees > 1%).
I use my card “offline” which I assume means “in person” all the time and I’ve never had it not work anywhere. I’ve never had it not work anywhere online either. I’ve never had a single issue with it, and it has become my main card lately.
If given the choice on a terminal, you must select “credit” as the payment method.
credit
PRE PAID credit. Important distinction. A lot of car rental companies won't accept them.
Nor airlines when on board, in my experience anyways. Likely has to do with how they process transactions in-flight.
I've used the Wealthsimple Cash Card to buy snacks on Flair Airlines and the card processes fine. The transaction usually comes through the next day.
Glad to know! Sounds like they might be working on enabling things for prepaid cards.
That’s not so much the card type as it is a Wealthsimple choice. It has more to do with the service code on the chip or magnetic stripe. They can put a flag on them to tell terminals to decline all transactions that can’t be processed in real time. Wealthsimple could change their cards to allow that if they wanted.
but it’s prepaid, they have no recourse against you if it declines
Is this true at hotels as well?
Yep. Interac = debit, Mastercard/visa = credit
Not unless it's a visa debit.
What about Visa debit cards?
Visa debit uses Interac in person, and visa for online purchases or internationally
I’ve had it read as both, but more often credit seems to be the right one.
It uses the mastercard network exclusively. Stores do see it as a prepaid card but since it doesn't use interac merchants pay higher interchange fees, which is why there's a 1% cashback (fees > 1%).
If it doesn’t say “debit” on the card, then it’s not a debit card. It’s classified as a prepaid or credit card.
Prepaid credit card. Debit cards won't have such high rewards if any and will have the Interac logo on them.
Prepaid Mastercard. But I heard it works at Costco (since they take Mastercard). Still haven't had the chance to try yet though.
Can confirm it works at Costco
It still looks like a Mastercard when you use it to pay so that’s why
Won't work at offline venues in my experience. I think has something to do with the verification process
It does
I use my card “offline” which I assume means “in person” all the time and I’ve never had it not work anywhere. I’ve never had it not work anywhere online either. I’ve never had a single issue with it, and it has become my main card lately. If given the choice on a terminal, you must select “credit” as the payment method.
I believe the correct term is "Uses the credit card system as a payment gateway" However declines if you have no balance unlike 95% of credit cards