There are many prepaid credit cards in Canada to choose from. Personally, at Frugal Flyer we really like prepaid credit cards for some of the unique opportunities that come with their systematic limitations.
Interestingly enough, the Titanium prepaid card does also present some manufactured spending opportunities if you read between the lines. We will leave that one up to you to find out how to take advantage.
Let’s dive into our Titanium Prepaid Mastercard review.
Titanium Prepaid Mastercard Overview
The Titanium Prepaid Mastercard is a physical prepaid card issued by Peoples Trust Company in Canada. As with many other prepaid cards, it is not a credit card, but instead, a Mastercard branded debit card. This means that you need to load money to the card before you can make any purchases.
The Titanium Prepaid Mastercard offers both a standard plan and a premium plan; we will cover the difference in fees between those two plans below. The card also provides identity theft alerts and enhanced zero liability protection for all purchases.
Does the Titanium Prepaid Mastercard Have Fees?
As with many prepaid credit cards, the Titanium Prepaid Mastercard does come with fees for almost everything you can do with this card. The table below captures some of the more relevant fees that are associated with this card (but is not all-encompassing):
| Standard Plan | Premium Plan | |
|---|---|---|
| Monthly Fee | $6.50 | $12.99 |
| Load via DirectLoad | $2.99 | Free |
| Load via cash in-store | $2.99 | Free |
| Load via Vanilla Reload | $3.95 | $3.95 |
| Withdraw at ATM | $1.99 | $1.99 |
| Withdraw in-store | $1.99 | Free |
| Spend money | $0.50/transaction | Free |
| Spend money in a foreign currency | $0.99/transaction + 3% of total transaction | $0.50/transaction + 3% of total transaction |
| Replacement fee for lost/stolen card | $4.99 | $4.99 |
As you can see, the premium plan does cost more monthly but does save money on many fees. Depending on your planned usage, you may find greater value in paying for the premium plan if you are interested in using the Titanium Prepaid Mastercard in your day-to-day life.
How Can I Get the Titanium Prepaid Mastercard?
In order to sign up for the Titanium Prepaid Mastercard, you need to visit your nearest Money Mart or Insta Cheques branch. You will need to provide a piece of identification (both government-issued and with a photo) and have a valid address. Additionally, you will need to be a permanent resident of Canada and the age of majority in your province. No credit check is required to get this card.
Once you let them know that you want to sign up for the Titanium card and provide your proof of identification, the customer service rep will ask you to set a PIN for your card and will also ask you what amount you wish to load on your card; this first load can only be completed via a debit card. They may also be running a promotion upon sign-up; I know when I signed up they gave me a free $10 on my card, which offsets the first month’s fee.
Once the customer service rep has signed you up, you will receive the physical card immediately. You will also receive a letter in the mail a few days later which will contain an additional card for your use; this card will also have your first and last name on it.
You cannot sign up for this prepaid credit card online.
How Can I Load Money to the Titanium Prepaid Card?
There are four ways you can load money to your Titanium Prepaid card: Directload, Vanilla Reload, mobile cheque cashing, and in-store.
Load with DirectLoad
Directload is a tool offered on this card that allows cardholders to receive their pay directly to their prepaid credit card. I believe this loading method has a very specific use case and wouldn’t be applicable to most people.
In order to take advantage of DirectLoad, the cardholder will need to download the DirectLoad form and provide it to their employer to be filled out. Once filled out and submitted back to the issuer, you will be enrolled in the DirectLoad program.
Once set up, you will receive your paycheck immediately on your Titanium Prepaid Mastercard every payday.
Load with Vanilla Reload
The prepaid card can also be reloaded by purchasing a Vanilla Reload pin and applying it to your account. Pins can be purchased at select partners, including 7-Eleven, Familiprix, Avondale, Fine Foods, Circle K, and Couche-Tard stores across Canada. Once you have your PIN, you can load it to your Titanium Prepaid Mastercard here.
Load with Mobile Cheque Cashing
Cardholders are able to load their Titanium Mastercard via depositing a cheque through the Money Mart or Insta Cheques mobile app. Simply follow the steps in the app to take a picture of your cheque and receive the money in your account once the deposit has cleared.
Load In-Store
Finally, you can reload your card at Money Mart or Insta Cheques locations. Simply present your card to the customer service rep and state how much you wish to load onto the card. You will only be able to load money to your card through debit at in-store locations.
How Can I Make a Purchase with the Titanium Prepaid Mastercard?
Your Titanium Prepaid Mastercard can be used to make purchases in-person and online.
Making a Purchase In-Store
When making purchases in person, the first time you use the card you will need to enter the chip into the point of sale machine. Afterwards, you will be able to use the card normally including for contactless purchases.
Making a Purchase Online
When making a purchase online, simply enter the card details as you would for any normal purchase. You will enter your personal address as the billing address and the purchase will process as if you were purchasing with a typical Mastercard.
Alternatives to the Titanium Prepaid Mastercard
Before you sign up for any card, prepaid or not, you should always consider the alternatives to ensure that the card you are signing up for is right for you. Below are three of the alternatives that we consider most similar to the Titanium Prepaid Mastercard.
Koho Prepaid Card
The Koho Prepaid Card is a stronger all-around prepaid card compared to the Titanium Mastercard. The Koho Prepaid card offers a minimum of 0.5% cash back on all purchases but also has partnered retailers that offer an increased cash back rate. A premium version is also offered, which gives cardholders an increased cash back rate of 2% in specific categories.
Wise Visa Prepaid Card
The Wise Visa Prepaid Card is a card that is great for travelers since it makes it easy (and cheap) to exchange currency and withdraw from international ATMs. Similarly, if you often find yourself needing to send money internationally via foreign currency, the Wise prepaid card might be a great fit for your wallet.
Vanilla Prepaid Visa Card
The Vanilla Prepaid Visa is one of the most widely available prepaid cards in Canada as it can be found at most grocery and convenience stores. This Visa prepaid card is non-reloadable but can be used to meet minimum spend requirements. I believe this card has a very specific use case, but you might find some value in exploring this card as an option.
We have reviewed many other prepaid cards at Frugal Flyer, so consider taking a look here to find other options.
Conclusion
The Titanium Prepaid Mastercard may have some specific use cases depending on your personal finance needs as a consumer. Ultimately, it isn’t that different from many other prepaid cards in Canada, outside of the fact that you are able to add money to the card through vanilla reload PINs.
Personally, Reed and I have found some great value in this prepaid card when not using it for its intended use. I’ll leave that open-ended for you to ponder about on your own.
Frequently Asked Questions
Head to your nearest Money Mart of Instant Cheques location to sign up for this prepaid card. Ensure you bring a piece of government-issued photo identification, are a permanent resident of Canada, and are the age of majority in the province you are signing up in. No credit check is required.
While the Titanium prepaid card is branded as a Mastercard, it is actually a debit card when it comes to functionality. The cardholder will need to load money onto the card before any purchases can be made as the card does not have an available credit limit.
To activate your new card, call 1-866-914-5863 and follow the voice prompts.
You can add money to the Titanium Prepaid card through four methods: DirectLoad, Vanilla Reload, mobile cheque cashing, or by reloading at a Money Mart or Insta Cheques location. More information can be found here.
Yes, you can withdraw cash from ATMs using your Titanium card. ATM fees may apply.
No, the funds will never expire. If your card reaches the expiry date listed on the front, reach out to customer service and they will issue you a new card so you can continue to use your card.
Call customer service at 1-866-914-5863. They will cancel your existing card and issue you a new card to be delivered via mail (a replacement card fee may apply). Your existing balance will be transferred to the new card.
The Titanium prepaid card is issued by Peoples Trust Company in Canada.
The cardholder agreement can be found here.
Josh Bandura
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I absolutely do not care for this card titanium mastercard .
First,
Second it’s the cost they even charge you to speak to them
Secondly it takes 45 to 90 days to get your money back which is far far to long . I really dont like the way they are
Does anyone have any clues on where they can buy vanilla reload pins around the GTA? Called a bunch of circle ks in my area and none of them sell them
This company is terrible. Customer service is equivalent to talking to a wall and banging your head violently at the same time. They have allowed my account to be frauded twice since September. I’m paying a fee to ” protect me from fraudulent charges yet 2 times I’ve lost $1500 due to my number being stolen, I called right away and asked them to lock my card and they did NOTHING OF THE SORT IN FACT THEY LET $3000 in charges to go through leaving me completely broke Dec 21 and iv E still yet to get my money back from the same thing in September. I’m pretty sure it’s the same woman who answers the call every time her accent is so strong I can’t make out what she says. Apparently she can’t understand me either since my stolen number was not cancelled like I asked. Well till now of course now that I’m doing the investigating myself and merchants are trying to return my stolen money but canvas now they have deactivated that card and can’t return the money I asked to speak with a supervisor and have been told NO sorry we’ve started looking into we can’t let you speak with customer service as weve started an investigation and need 45-90 days to investigate.
Do not go with this company unless u feel like losing all your money and being treated like you mean NOTHING and the simple language barrier is insane. Not one English speaking person in the entire company I’m told.
Wow thanks a lot you guys ruined my Christmas and in literally starving but please take another 3 months
I want my money and I’m switching company’s you should be ashamed of your selves. Way to help victims of fraud. You help the criminals and leave your customers desperate and starving. Your heartless and unjust.
I totally agree with you . I’m now homeless because of this company and they don’t care they charge you .25 everything you call them they keep your money when the store has refunded it and they are assholes to talk to. Don’t even open up a titanium mastercard account worst thing I’ve ever done.
Titanium+ Mastercard is horrible.
1. It doesn’t work at all. (I tried it outside North America). Customer care had assured it works, but it doesn’t. I tried to use it in Europe.
2. Customer service is horrible. I was put on long hold lines (30+mins) and then tired of it, I had to cut the call at my end.
3. No platform is available to provide feedback to them directly.
4. No refund of money given as card is not working.
I ultimately used Koho in my Europe trip and it worked really well. Really good customer service as well.
0.5 /5 stars for Titanium+ Mastercard
Thanks for the feedback. I definitely wouldn’t recommend this card as a foreign transaction card. For that you could go with Wise, or better yet a no fx fee credit card.
For withdrawing money from the card, you can do that in person at moneymart.
This message poped up when I was trying to do a vanilla reload: “A system error has occurred. Please try again later.”
Is there a weekly limit as to how much vanilla reload can be done? I did 1000 already this week.
Thanks
Don’t believe there is a weekly limit but there is a daily and monthly limit. I would check with titanium / vanilla direct for the most up to date information.
Some things aren’t mentioned about the Titanium Mastercard, it takes up to 30 days to get a replacement card, if your card is ” lost or stolen” they charge you $4.99 + $9.99 activation fee + $4.99 for personal card fee. I guess being compromised is the same as lost or stolen. If you live in Canada make sure you are there when it’s in your mailbox, my card and PIN came in the mailbox together.
I have been trying to add my new card number to my account so i can check my balance and such,
My old username and password i can’t remember,
And i have no idea how to get a new user name and pass word, i have been trying for 3 days,
It’s a new card nextwave titainum i got my pin and nothing is working,
I tried to update my method of payment to Google, i punched in the new number and it doesn’t work, what is wrong with this card, i am totally computer illiterate,
I need this card to work my bills come off it on feb 20th and i don’t even know if it’s working, i dont have time on my phone so i can’t call anyone, using just wifi, PLEASE SOMEONE HELP ME
I’ve had titanium MasterCard for a couple years I’ve gotten overcharged had missing money says in. Cardholder agreement they would investigate.I have yet to hear about anything it lets you connect to flinks for loans of proof of Payment as soon as I did this they put my account on hold say my account is compromised..and I have no access to my funds have to walk to a money Mart to withdraw and usual to get replacement fee is wived but still take like forty days for you new card to reach I’ve had this like 8 times .very inconvenient the worst ever to investigate and bad services for over charging
My 4 digit pin is not working and i just got this card 45 mins ago
Unfortunate. You’ll have to speak to customer service for help with that.