Vanilla Prepaid Card Fees, Limits and Expiry in Canada

What you pay when you buy the card, the fees that can apply later, and what happens to your money when the card's expiry date arrives.

The purchase fee

When you buy a Vanilla prepaid card, you pay the card value plus a one-time purchase (activation) fee. The fee is paid at the till and is not deducted from the card. It generally rises with the card value:

Smaller cards cost proportionally more. If you're giving several people small amounts, a store's own gift card may be cheaper; if the recipient needs to spend anywhere, a single larger prepaid card keeps the fee percentage down.

Fees that can apply after purchase

• Foreign transaction fee: commonly a percentage (reported around 2.5%) of any purchase charged in a currency other than Canadian dollars.
• Replacement card fee: some agreements charge for replacing a lost or damaged card; others don't. Check yours.
• Monthly or inactivity fees: Canadian Vanilla gift cards have been widely reported to carry none, but confirm in the agreement.

Checking your balance online or through the automated phone line is normally free.

Card limits

• Non-reloadable: you cannot add money. When it's empty, it's done.
• Maximum value: set at purchase. Fixed-value cards come in set amounts; variable cards let you choose within a range.
• Purchase limit: you can't spend more than the available balance in one transaction, and the terminal won't partially approve on most systems.
• Cash access: generally not intended for ATM withdrawals or cash back.
• Region or merchant limits: some countries or merchant categories may be restricted. The agreement lists any that apply.

Does the money expire?

There are two different things to consider:

1. The card: the plastic has a "valid thru" date on the front. After that date, the card will stop working for purchases.
2. The funds: Canada's federal Prepaid Payment Products Regulations apply to prepaid products issued by federally regulated financial institutions, and generally prevent the funds on such products from expiring. Peoples Trust Company, which issues Vanilla cards in Canada, is federally regulated.

In practice: if your card reaches its expiry date with money still on it, call the issuer at the number on the card. Ask how to get a replacement card or recover the remaining balance. Keep your receipt; it helps.

Provincial gift card laws (for example in Ontario and Quebec) are designed mainly for store gift cards and can treat network-branded prepaid cards differently. For more on your rights, see the Financial Consumer Agency of Canada's prepaid card page.

Where to find the official fee schedule

• The card packaging (purchase fee).
• Your store receipt (what you actually paid).
• The cardholder agreement enclosed with the card or linked on the issuer's website printed on the card.

Fee and expiry questions