Stack MC : No ATM Fees, No FTF! NO REFERRALS IN THREAD

kycka1 wrote: ↑Just signed up because of this promo: https://forums.redflagdeals.com/stack-m ... k-2216455/

Seems to work like a rebate, you get $11 credit after a charge from Netflix on this card and $10 credit after a charge from spotify/tidal. So even if you have a higher tier plan, you should still get the 120 or 132 total for the year.

edit:
You pick one of the three options at the end of the sign up process, and you can't change it later:
https://imgur.com/fcLn4DA

Just got the email for it, though card is already on its way. This might get me to sign up for Netflixers...this is yet another disincentive to sign up for CraveTV or Shomi

vkizzle wrote: ↑Anyone else concerned that you are required to sign into your online banking webpage through their app?

Is this in the fine print? Meh, I've already given my personal info to People's Trust via a number of their products...

jacnel wrote: ↑ It's because of the language laws and the civil code many companies don't want to deal with the hassle.

If they can’t deal with that how on earth do you expect them to function in international finance? Language laws and civil code aren’t rocket science.

titaniumtux wrote: ↑ Just got the email for it, though card is already on its way. This might get me to sign up for Netflixers...this is yet another disincentive to sign up for CraveTV or Shomi


Is this in the fine print? Meh, I've already given my personal info to People's Trust via a number of their products...

From their website, it's either direct deposit, logging into our online banking through this interface, or Visa debit.
I'm ok giving up personal information, but don't want to go through their app for online banking.

vkizzle wrote: ↑ From their website, it's either direct deposit, logging into our online banking through this interface, or Visa debit.
I'm ok giving up personal information, but don't want to go through their app for online banking.

For direct deposit, grab PAD credentials, and dump via PayPal.

Done.

If Visa debit incurs no additional fees, it seems like the easiest option. RBC gives out free Visa debit cards tied to your chequing account, and some other banks have their access cards as Visa Debit natively.

vkizzle wrote: ↑Anyone else concerned that you are required to sign into your online banking webpage through their app?

I am as well. Is Visa Debit the most secure option provided?

titaniumtux wrote: ↑
For direct deposit, grab PAD credentials, and dump via PayPal.

Done.

Sorry, I n00b, can you elaborate on this?

nochill wrote: ↑ I am as well. Is Visa Debit the most secure option provided?

Sorry, I n00b, can you elaborate on this?

1. I don't think there's any issue with security here. Any of the three options should be fine.
2. Read this. Web search is your friend.

titaniumtux wrote: ↑

1. I don't think there's any issue with security here. Any of the three options should be fine.
2. Read this. Web search is your friend.

OK yeah I get PAD... so the idea here is to supply the PayPal account as the bank account to Stack. Might be a good way to go.

Yeah I doubt there is any major risks without recourse here, but my trust to app developers have been pretty low recently.

vkizzle wrote: ↑Anyone else concerned that you are required to sign into your online banking webpage through their app?

I would imagine they use a third-party token interface similar to what CRA uses for MyAccount or WealthSimple used to validate your banking details and confirm account for transfer. Stack never actually sees your banking details or authentication credentials, so wouldn't worry about it if it checks out to be one of those services they use.

pmcd wrote: ↑ If they can’t deal with that how on earth do you expect them to function in international finance? Language laws and civil code aren’t rocket science.

I don't know, all I know is that this is the excuse many companies give.

davethegr8 wrote: ↑ https://www.getstack.ca/cardholder-agreement

Looks like max 2 withdrawals up to $500 each in a day and to a maximum of $2000 in a month. No atm fees unless the provider charges one.

Limits

Maximum Card Balance $20,000.00
Maximum Number of loads per day 4
Maximum Number of loads per month 20
Maximum Amount per single load transaction $8,000.00
Maximum Daily Cumulative Amount, loads $8,000.00
Maximum Monthly Cumulative Amount, loads $20,000.00
Maximum Number of Point of Sale (POS) transactions per day 15
Maximum Amount per single Point of Sale transaction $2,500.00
Maximum Daily Cumulative Amount, POS $5,000.00
Maximum Monthly Cumulative Amount, POS $20,000.00
Maximum number of ATM transactions per day 2
Maximum Amount per single ATM transaction $500.00
Maximum Daily Cumulative Amount, ATM $1,000.00
Maximum Monthly Cumulative Amount, ATM $2,000.00
Maximum Amount per single card to card transfer transaction $2,500.00
Maximum Daily Cumulative Amount, card to card transfer $5,000.00
Maximum daily combined spend and cash withdrawal $5,000.00
No card or account management fees will be charged to you by Peoples Trust Company. Fees may be charged for use of ATMs by ATM operators, over which we have no control.

This is a PRE-PAID MC. You have to put money on it to withdraw it. Who puts $2000 on a pre-paid card?

RCOnline wrote: ↑ This is a PRE-PAID MC. You have to put money on it to withdraw it. Who puts $2000 on a pre-paid card?

Anyone wanting to withdraw cash from foreign ATMs. With no foreign ATM withdrawal fees (except for the ATM operator's fee) and Mastercard's ~0.4% forex rate, there's no better way that I can find. My wife just left for Europe for six weeks and if this card was available before she left, she'd be using it now.

Kiraly wrote: ↑ Anyone wanting to withdraw cash from foreign ATMs. With no foreign ATM withdrawal fees (except for the ATM operator's fee) and Mastercard's ~0.4% forex rate, there's no better way that I can find. My wife just left for Europe for six weeks and if this card was available before she left, she'd be using it now.

So in summary, you still get charged a fee for using the ATM to withdraw foreign currency.
(e.g. if I deposit $100 CAD --- Use ATM to withdraw $75 USD + ATM fee)

There's no way to get around this ATM fee am I correct?
I'm not even sure how much this ATM fee can be... is it a percentage of withdrawal or fixed amount?

Kiraly wrote: ↑ Anyone wanting to withdraw cash from foreign ATMs. With no foreign ATM withdrawal fees (except for the ATM operator's fee) and Mastercard's ~0.4% forex rate, there's no better way that I can find. My wife just left for Europe for six weeks and if this card was available before she left, she'd be using it now.

As quoted in this article (https://canadiankilometers.boardingarea ... rd-signup/) , No Forex rate.

"Right now no. We’re relaunching our site June 1 and will be calling out the specific “fee-free” benefits, including no foreign exchange, more clearly."

So it's good for travelers, but once your trip is over, are you going to use the card at home regularly? Probably not.

Stack has an offer for free Netflix, Spotify or Tidal for a year. Link to Hot Deals thread: stack-mastercard-free-year-subscription ... rd-2216455

GiOBoY wrote: ↑ So in summary, you still get charged a fee for using the ATM to withdraw foreign currency.
(e.g. if I deposit $100 CAD --- Use ATM to withdraw $75 USD + ATM fee)

There's no way to get around this ATM fee am I correct?
I'm not even sure how much this ATM fee can be... is it a percentage of withdrawal or fixed amount?

Local fee should not be a decision point when choosing cards. Local fee should be a decision point when deciding from where to withdraw (but that is a decision for later). In other words, one should not choose one card over other because local ATMs charge $x.

When choosing cards, only two charges matter for ATM purchases -
- What the card charges ($5 is default, Stack is $0, Mogo $3, etc)
- Whether there is FX fee (2.5% or not) - I have not seen other % out there.

There is also the Visa v/s Mastercard forex fee, but I think they are fairly close together. Personally, I dont use this as a decision point, but others may. True that Mastercard is charging 0.4% over spot rate, but if one is not able to avail spot rate, then its a moot point for me. If Visa or MC was consistently charging more over the other, then choosing a Visa or MC card would have been a decision point. Since thats not the case, I have removed that from my decision point to keep it simple.

GiOBoY wrote: ↑
So in summary, you still get charged a fee for using the ATM to withdraw foreign currency.
(e.g. if I deposit $100 CAD --- Use ATM to withdraw $75 USD + ATM fee)

There's no way to get around this ATM fee am I correct?
I'm not even sure how much this ATM fee can be... is it a percentage of withdrawal or fixed amount?

This. Afaik cheapest ATM fee for pulling cash with a different FI's card in Canada is TD CT ($1.95 fee whereas most banks' ATM's will charge $3.50). In the US, from memory, it'll be around $3 depending on the bank. Outside North America, the usual range would be the equivalent to 50¢ to $3.

If you want no-FTF AND ATM fee reimbursement, get your US ITIN, and sign up with banks in the US that offer this. No ITIN? Can open an account with Charles Schwab with an initial deposit of $25k USD as a "foreign investor". Then you'll see ATM fee reimbursements at the end of each month.

The only percentile cost is FTF. As Stack is a "no-FTF MC", the off-spot rate will vary per currency, generally 0.1-0.9% FTF (minimal and trivial). Afaik pulling in USD on MC averages an off-spot of 0.25% FTF. @Kiraly 0.4% FTF is CAD->USD on VISA.

dubstar27 wrote: ↑Stack has an offer for free Netflix, Spotify or Tidal for a year. Link to Hot Deals thread: stack-mastercard-free-year-subscription ... rd-2216455

Added that to thread summary.

Mr Bean wrote: ↑ Local fee should not be a decision point when choosing cards. Local fee should be a decision point when deciding from where to withdraw (but that is a decision for later). In other words, one should not choose one card over other because local ATMs charge $x.

When choosing cards, only two charges matter for ATM purchases -
- What the card charges ($5 is default, Stack is $0, Mogo $3, etc)
- Whether there is FX fee (2.5% or not) - I have not seen other % out there.

There is also the Visa v/s Mastercard forex fee, but I think they are fairly close together. Personally, I dont use this as a decision point, but others may. True that Mastercard is charging 0.4% over spot rate, but if one is not able to avail spot rate, then its a moot point for me. If Visa or MC was consistently charging more over the other, then choosing a Visa or MC card would have been a decision point. Since thats not the case, I have removed that from my decision point to keep it simple.

Koho charges 1.5% FTF. Afaik VISA usually charges more over spot than MC, but this can vary day by day.

My common travel destinations don't accept MC, so my only option is VISA, so VISA vs. MC off spot rate isn't a decision factor to me. It's whichever card will actually work.

I like these prepaid cards for the promo's we see on RFD. I may find cash withdrawals useful on the next trip.

jacnel wrote: ↑ I don't know, all I know is that this is the excuse many companies give.

Agreed. I always wondered about that. Kind of puts the companies in a poor light. Mind you, perhaps Quebec has regulations making it really impossible to be part of the Quebec financial space.

dubstar27 wrote: ↑ Stack has an offer for free Netflix, Spotify or Tidal for a year. Link to Hot Deals thread: stack-mastercard-free-year-subscription ... rd-2216455

This is very interesting. You choose which you want at the time of applying. I assume you then wait for the physical card to link it to the service. I wonder if there is a time limit for linking it after receding the card?

So if I'm in the US, would it be best to just use the card where accepted, with the pre-loaded funds or withdraw cash from ATM? There's no fees right?

And after the trip, is it possible to withdraw funds?