When your child is on their own for a school trip or a competition away from home, the question of payment can be a challenge. Whether it’s for purchasing souvenirs, meals, or an unforeseen expense, we want to provide them with a secure payment method.
It is important to note that lending your personal credit card to your child violates the terms of use of financial institutions. This practice carries significant risks: in the event of theft or fraudulent use, the bank will refuse any reimbursement since you have knowingly violated your credit card agreement.
Here are the options available to you to make your child a bit more independent while travelling.
When choosing your credit or prepaid card, consider the following:
Your teenager can have a copy of your credit card as an authorized user. It’s one of the best options!
Depending on their age and the financial institution, you can request an additional card. Read our article to find out at what age your teenager might be able to have one.
This way, any purchases he makes will end up in your credit card account and you will pay your account afterwards, as usual.
Do you have a card in your wallet with no foreign currency conversion fees? If so, it might be a good idea to get an extra one for your child, too, to avoid the 2.5% fee for all out-of-country transactions.
For my oldest, this is what I chose as an option. He has the Scotiabank Passport Visa Infinite, which is accepted everywhere abroad and has no conversion fees. Plus, the first additional card is free.
Mydoh offers a rechargeable prepaid Visa card for a child, without being linked to a bank account. And if you want, you can even personalize the card for $6.99 with any image you choose.
There are no hidden fees, and the parent only deposits the necessary amount on the Mydoh card, accessible instantly. Additionally, there is no card number visible on the physical card. So, if it is lost, this minimizes the risk of fraudulent use.
Mydoh offers both a digital and physical card. Abroad, the foreign currency conversion fee is 2.5%. Its only drawback is that there is no option to withdraw cash from an ATM.
Until May 30, 2025, earn 500 Avion points when you top up your child’s Mydoh card:
Check out this RBC offer, if you have an eligible card, such as the RBC Avion Visa Infinite Card.
KOHO and Wise banks offer prepaid cards, but only to people who have reached the age of majority in their province of residence.
Remember, you can’t open an account and get a prepaid card in your name, then give it to your minor child to travel with.
Vanilla Visa or Mastercard prepaid cards may be another option. However, it is forbidden to purchase such a prepaid card with an American Express credit card, as mentioned in the conditions.
There is an activation fee on purchase, and foreign currency conversion charges are 2.5%. Also, beware of fraud with this type of card. Before making your purchase, make sure that the packaging has not been opened, as tampering occasionally occurs.
Many schools suggest the Canada Post Cash Passport card, but we don’t recommend it.
It costs $15 to buy, you have to pay a $3 fee every time you load money into it, the foreign currency conversion fee is high (3.25%), you pay an additional 1.5% if you use it in Canada and on top of that, there’s a $20 fee if you want to withdraw the money left in it.
Let’s just say that it seems to exist mainly to remind us how much better other options are. It’s better to explore other solutions that offer more benefits and less costs.
Before departure, take the time to educate your child about responsible practices that will allow them to fully enjoy the benefits of their card while avoiding excesses. We particularly recommend using an additional card, as this will help you accumulate points to use for a future trip with your child!
Have a good trip!
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