That's where the lines skew between a bank card and pre-paid credit card.Doomdrou wrote: ↑ I mean, it is LIKE a prepaid credit card, but the account is not a prepaid account but a real bank account, because you can use direct deposit and pay bills, all while being insured by the CDIC.
As I said, it is a bank account that uses the MasterCard network instead of the Interac debit network.
It works like a pre-paid credit card where you "load funds" by depositing into a bank account and used on the credit card network. However, with a pre-paid credit card, if I buy something that is greater than what I have loaded, I simply get a rejected transaction and I use another card or cash.. With the PC Money Mastercard, if I try to buy something greater than my account balance, I'll get an NSF charge. I tried seeking clarification through the PCFinancial chat and that's what they said..
Edit: a RFDer tested this and apparently it doesn’t incur the NSF fee when you make a purchase with your MasterCard and don’t have enough in your account. My answer from PCF still holds.
Last edited by zeroace on Oct 25th, 2020 1:43 am, edited 2 times in total.