[REVIEW] CIBC AC Conversion Pay as you go Card

CIBC presents a co-branded Air Canada Pay as you go Card, known as the AC Conversion card which you could join right here.

Beneath are the highlights of the cardboard earlier than we get happening the evaluation:

  • Capacity to load as much as 10 currencies
  • No price Visa card
  • No international alternate conversion charges
  • Earn a 1% cashback on all purchases (promotion for purchases posted between Might 1, 2021 to October 31, 2022)
  • Obtain a $10 referral bonus
  • Have to be a Canadian citizen or Canadian everlasting resident

Sorts of currencies and use

Beneath is the checklist of foreign currency that may be loaded into the cardboard.

  • Australian {Dollars} (AUD)
  • Canadian {Dollars} (CAD)
  • Euros (EUR)
  • Nice British Kilos (UK) (GBP)
  • Hong Kong {Dollars} (HKD)
  • Japanese Yen (JPY)
  • Mexican Peso (MXN)
  • Swiss Franc (Switzerland) (CHF)
  • Turkish Lira (TRY)
  • United States {Dollars} (USD)

As soon as the currencies are loaded into the cardboard, the cardholder has the flexibility to make use of the cardboard to make any purchases in these particular currencies (whether or not in individual or on-line), so long as Visa playing cards are accepted. Cardholders even have the flexibleness to modify quantities between the obtainable currencies.


What’s nice about this card is that there aren’t any annual/upkeep charges or load charges. Moreover, there isn’t a conversion price when switching between the obtainable currencies. Solely the alternate charges will fluctuate the conversion.

Nevertheless, these are another charges to be conscience of:

Price Quantity
Customization Free
Cargo by Courier (Elective) CAD $15.00
Card Substitute (lack of card) CAD $25.00 or equal
ATM Withdrawals (Inside Canada) Free
ATM Withdrawals (Exterior Canada) No price will probably be charged for the primary ATM withdrawal in every month.
3.50 CAD
2.95 USD
2.50 EUR
1.95 GBP
49.95 MXN
21.95 HKD
3.95 AUD
349.95 JPY
7.95 TRY
2.95 CHF

Observe that there’s a 2.5% international conversion price that applies when the cardholder makes transactions exterior of the ten supported currencies talked about above.

Load and transaction limits

There isn’t any minimal load quantity, however there’s a $3,000 CAD load quantity inside a 24-hour interval. There’s a most of $20,000 CAD complete (no matter complete currencies) {that a} cardholder can have on their account at a time. Beneath is the load limits:

Minimal load quantity (single Transaction) $100 CAD equal
Most load quantity (single Transaction) $3,000 CAD equal
Most stability $20,000 CAD equal
Every day (24-hour) most level of sale buy restrict $3,000 CAD equal


Every day (24-hour) most ATM withdrawal restrict $2,000 CAD Equal


It is a nice journey card for individuals who don’t wish to journey with a whole lot of money. The technique that I’d advocate is that if you recognize that you’ve got an upcoming journey to a kind of international locations listed, watch currencies fluctuations and cargo the cardboard then. That is completely different from travelling with a no international transaction price bank card, as a result of the cost to the cardboard in the meanwhile of buy will probably be primarily based on the present alternate fee.

By having this card, we will reap the benefits of foreign money fluctuations forward of time digitally, as a substitute of money. The ATM withdrawal price is steep when travelling, however this card is extra about utilizing the funds pre-loaded on the cardboard.

If you’re finished together with your journey and nonetheless have funds left in a sure foreign money, the profit is which you could change the remaining stability to a different foreign money that will be extra related to you within the close to future.

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