 Hello everyone this is financial author Amit Dan of amitdan.com on this channel you'll find financial travel and more videos just like the one you're watching right now. If you like what you see please give it a thumbs up and consider subscribing. Mogo Platinum Prepaid Visa Card Hello everyone this is financial author Amit Dan of amitdan.com Today I'll be reviewing another prepaid card which is the Mogo Platinum Prepaid Visa Card. I'm expecting this video less than five minutes long and I'd like to mention that this is not a paid or affiliated review. There's a feature of this prepaid visa card which caught my attention and I'd like you to know what is this all about. So let's let's get going here. So Mogo Platinum Prepaid Credit Card is a prepaid card which lets you load money onto the card and then use it as you go and they have actually a few interesting designer cards which I'll show you so let's take a look here and if you take a look so there's the Vader which is one of them and then there's the commando and there's leopard and comical and camera oboskira. So it looks like they have quite a few designs which you can choose from but the basic one is this one which is the black face and it looks good as well and let's go back to the main screen so we have here I'll go through some of the features so the way it works that you add money to your prepaid card and you can transfer money from your bank account directly and then you just spend that money as you go and what it does that it prohibits you from going over your spending limit or it restricts you from going over your spending limit because you're only spending the amount you're loading onto your card and even it has a smart notification so if it's after each purchase you'll get an update with the amount you just spent and your updated balance so that's another feature and the ultimate to your program what it means that by using this card you are in control of your spending so there's not really any reward so it's just you are spending less because you know exactly how much you're going to spend and they presented a little fact here that the typical your program gives you about $10 worth of value for every $1000 you spend so to get a $1000 value which is value you'd have to spend about $100,000 per year so that's a lot of money so the most important feature I find about this card is that no fee on foreign transaction you know that most of the Canadian credit cards charge 2.5% foreign transaction fee so this card which is although a prepaid card but it still can avoid that 2.5% foreign transaction fee if you load your card and use it on foreign transactions when you are outside the country or even when you're purchasing online in Canada through online portals in US dollars so that's the feature which attracted my attention and I believe it's a very good feature I do have another video about the foreign credit cards or the credit cards that do not charge foreign transaction fees which I'll provide a link in the description box below so you can take a look at it later on but I believe this feature is the most attractive feature of this prepaid card so let's say even if you don't want to use this card for everyday purchases but you can still use this card when you go for traveling and another advantage of having a prepaid card when you travel is that you're not going to load a lots of money at one time so let's say if you lose the card or something happens to the card you're going to only lose the small amount you're loading every day or before going to shopping so that's the feature I like so here is some fees and cost to have this card and we'll just quickly take a look at it and here that to add money online there's no fee it's free monthly fee there's none purchase transactions there's none a card purchase is none foreign transaction foreign currency conversion is none so if you use domestic ATM to withdraw money it's 150 per transaction and if you're using international ATM it's $3 per transaction again this feature can be attractive to travelers because you're paying only $3 to redeem at foreign ATMs some of the Canadian cards actually they even charge higher when you are at a foreign country and take out money from ATM so that's another reason to consider this card and then it has some fees on other transactions for example if you add money at Canada Post then there's $3 free and account inactivity fee which is $1.99 you have if your balance is zero unless balance is zero so only charge after a year of no card transaction activities to keep the suspending spending account free and there's NSF charge of $25 which is standard and there's some other limits and information right here which you can take a look and basically that's all they provided on this page so this is a mogo prepaid visa card the full name of this is mogo platinum prepaid visa card and the website is www.mogo.ca so this is an interesting card due to its capability of having no foreign transaction fee and only $3 for an ATM withdrawal fee when you use this card at foreign locations so that will be all for now thank you for watching if you like what you see let's give it a thumbs up and consider subscribing and there will be more videos coming up and on this channel I publish a variety of videos including financial videos see you shortly thank you