Joker Mastercard Canada Review

Credit card usage is not a new concept or payment channel in Canada’s financial and e-commerce sector. Technological advancements have opened merchants and consumers to new ideas of paying and receiving payments for goods and services. 

The Joker MasterCard is one of Canada’s most acceptable MasterCard-issued prepaid cards, suitable for online and in-store purchases. Unlike the traditional credit cards that come with high-interest rate charges, the Joker MasterCard has no interest rate fees.

Joker prepaid card is designed for cardholders to have unhindered access to funds anytime and anywhere. However, unlike credit cards, there are several restrictions and activation fees attached to the card. 

So, what’s the catch with the Joker MasterCard, and what distinguishes it from other Canadian prepaid cards?

About Prepaid Credit Cards in Canada

Prepaid credit cards are cards loaded with a store value before their usage by a customer. Like gift cards, each prepaid card has its value, and you cannot exceed the spending limit imposed on your card. As a result, you would only be able to pay for your purchases with the value on your prepaid card, even if you don’t have or qualify for a traditional credit card.

Prepaid credit cards are of different types and value, including:

Reloadable Prepaid Cards or Non-Reloadable Prepaid Cards

Reloadable prepaid credit cards are cards that you can reload their value after you exhaust the funds on them, while Non-Reloadable prepaid cards are cards that you can’t refill their value once you spend the funds on them.

Bank-Issued Prepaid Cards or Store-Issued Prepaid Cards

Banks and financial institutions issue Bank-issued prepaid cards. They are usually reloadable. On the other hand, you can buy store-issued prepaid cards at the grocery or retail stores and gas stations. It usually comes with a single-use.

Prepaid MasterCard or Prepaid Visa Card

Prepaid MasterCards are licensed by MasterCard Inc., while Visa licenses prepaid Visa cards.

What is the Joker MasterCard?

The Joker MasterCard is a prepaid card that you can use to shop your favourite merchants, payments, and online gaming. The Joker MasterCard comes with a prepaid store value.

It provides quick and secure access to funds that you can use anywhere that MasterCard is accepted, including online shopping, mail order, bill payments, and point of sale merchants.

Who Issues the Joker MasterCard?

As noted earlier, prepaid cards are bank-issued or store-issued and reloadable or non-reloadable. The Joker prepaid MasterCard is issued by the Peoples Trust Company, a financial service company in Canada and a Peoples Group subsidiary. 

The company offers specialized products and services, including commercial mortgage products, short and long-term GICs, secured credit card products, and prepaid credit cards. The Joker prepaid MasterCard is issued under license by MasterCard international Inc., making it acceptable at every online and in-store retail location that accepts MasterCard.

Joker MasterCard – How It Works

Joker MasterCard prepaid card is a non-reloadable prepaid card, suitable for several online and in-store usage, including shopping, bill payment, or online gaming.

You can use the prepaid card anywhere MasterCard is accepted for payments. The Joker MasterCard comes in two types – physical and virtual. The two card types are suitable for online, in-store, mail, and telephone order merchants.

Each Joker MasterCard comes with a pre-loaded value and is useful for purchases or bills payment until the card’s available balance reaches zero. At this point, the prepaid card is no longer valid or accepted as a payment card.

The Joker virtual prepaid MasterCard is an electronic card delivered to the recipient through email by the seller. The virtual card is only applicable for online usage and is not reloadable. To use the virtual card for shopping or bill payment, you need to register and activate the card.

Joker MasterCard Product Types

The Joker MasterCard comes in two categories, and each card is suitable for shopping, payments or online gaming. These are:

Physical Joker Prepaid MasterCard

The physical Joker prepaid MasterCard is a non-reloadable prepaid card to shop your favourite merchants and securely pay for your purchases and bills. The physical Joker prepaid MasterCard gives the cardholder fast access to funds used at merchant stores that accept MasterCard.

It can serve as a perfect gift to your friends and loved ones, as it comes with a pre-loaded stored value. Unlike credit cards, physical Joker prepaid MasterCard is not reloadable or refundable and cannot be used for cash withdrawals or ATM usage.

Virtual Joker Prepaid MasterCard

The virtual Joker prepaid MasterCard is an electronic or digital prepaid card for online shopping, payments, or online gaming. It can be used anywhere that MasterCard is accepted worldwide.

However, you cannot use the non-reloadable virtual Joker prepaid MasterCard for cash withdrawal, specifically online purchases. Each online transaction made outside of Canada or any non-Canadian currency’s redemptions attracts a 2.5% foreign transaction fee.

You can purchase a virtual Joker prepaid MasterCard at online stores or in-store by scanning the fixture’s QR code at partner retailers. The virtual Joker prepaid MasterCard can be a perfect gift for your friends and associates, as it can be delivered directly to the recipient’s email to shop, pay, or play online.

Once the e-card is delivered, you need to register and activate the digital card before using it. Regardless of the value loaded on your virtual Joker MasterCard, there’s a CAD 7.95 purchase fee per card of $50 to $200 value. If your prepaid card’s value is between $200 to $500, you’ll pay $9.95 activation fees. 

Joker Prepaid MasterCard Card Description 

The physical Joker prepaid MasterCard and the virtual Joker prepaid MasterCard come with a 16 digit card number, just like a traditional credit card. You’ll also find the four-digit month and year expiry date and four-digit CVV2 card security. With a virtual Joker prepaid MasterCard, you can only see these details after activating the card. 

Joker MasterCard Denominations 

Joker prepaid MasterCard – physical and virtual – are available in different denominations of $25 to $500. They include:

• $25
• $50
• $100
• $200
• $500

Where Can I Get Joker MasterCard in Canada?

The virtual prepaid MasterCard is available for in-store purchases at select retail locations and available online at Giftcards Canada. You can purchase the virtual Joker prepaid MasterCard online using your Canadian credit card – Visa card and MasterCard only. 

Physical Joker prepaid MasterCard cards are available at over 11,000 retail and grocery stores across Canada. These include:

• Brunet 
• Canadian Tire
• County Grocer 
• Loblaws
• Metro
• Pharmaprix
• Rexall 
• Safeway 
• Save on Foods 
• Shoppers Drug Mart 
• Sobeys 
• Staples 
• TGP
• The Home Depot 
• Thrifty Foods 

Transaction Limitations 

Regardless of the value of the funds on your Joker prepaid MasterCard, the maximum spending limit is $500 CAD, which is also the highest available card value. 

Joker prepaid MasterCard is not reloadable, returnable, or refundable. Unlike a credit card, you can’t use the Joker prepaid MasterCard for cash withdrawal or ATM usage. 

Online Transaction Restrictions 

The Joker prepaid MasterCard can be used for online purchases worldwide, everywhere MasterCard is accepted. However, online transactions at merchants located in the European Economic Area (EEA), except the UK, have restrictions. The transaction limit in this region is $75 CAD. 

The EEA region includes countries like:

• Poland
• Belgium
• Norway
• Cyprus
• Bulgaria
• Austria
• Croatia
• French Guiana 
• Ceuta
• Hungary
• Iceland 
• Lithuania 
• Slovenia
• Slovakia 
• Aland Islands, etc. 

How to Check Joker Prepaid Card Balance 

You can check your Joker prepaid MasterCard balance online at Jokercard Canada or call customer service on 1-833-293-7721 for assistance on the account balance. 

Safety Measures

Unlike a credit card, the Joker prepaid MasterCard is not eligible for the MasterCard Zero liability coverage. Also, the card’s funds are not insured by the Canada Deposit Insurance Corporation (CDIC). Therefore you need to take precautions to protect your card against theft, loss, or unauthorized use. 

Joker Prepaid Card Replacement 

You may be eligible for a card replacement if your Joker prepaid MasterCard expires. 

Does the Joker Prepaid MasterCard Expire?

Joker prepaid MasterCard comes with an expiry date. However, your right to use the card and the funds loaded on the prepaid card do not expire. You can request a replacement card after the expiration of your prepaid card, provided the funds on the card are still valid. 

Pros

• Joker prepaid MasterCard can be used for online purchases, bills payment, and online gaming, the same way you use your credit card. 
• Getting the Joker prepaid MasterCard does not require a hard check on your credit score. 
• Unlike a credit card, Joker prepaid MasterCard helps to manage your spending, as each card has a pre-loaded value and transaction limit. 
• It requires no interest charges. 

Cons

• Joker prepaid MasterCard cannot be used for cash withdrawal or ATM usage. 
• It is not reloadable or refundable. You must get a new card after exhausting the funds on your card. 
• Funds on the Joker MasterCard are not CDIC insured. 
• There’s a high activation fee to use the virtual Joker prepaid MasterCard.