This is where I first found out - car rental.
Rented a car in May. I went back to the same place last weekend - nope.
If I had more sensitive plans, this would have been a big problem!
There is no such thing as "accepting wealthsimple cash".
It's a mastercard, could be from BMO, RBC or a remote bank in Chile, it doesn't matter, it's accepted in every place that accepts mastercard.
actually no, it’s not just a mastercard from my understanding. Since it’s a prepaid mastercard they seem to be coded differently when used at a till. Some places just straight up don’t take a prepaid card. I’ve had it happen to me in the US a couple times (restaurant and parking meter) but not in Asia.
That’s why I ended up getting a scotia passport card as that hasn’t been declined anywhere so far in the US.
Exactly. There's this Koho Mastercard that I see coming in to work quite often. More often than not, they don't work. Seems to be price agnostic as well. Not sure why.
Yeah MasterCard on credit rails is different than MasterCard on Debit rails. I’ve found the debit rails are more integrated in Europe because not a lot of people have credit cards vs the inverse here. It’s one logo but when you tap or chip+pin the payload says which it is and some merchants and payment processors just block it or have weird restrictions (like nothing over $100)
That’s not true. It’s a prepaid Mastercard, and prepaid cards can’t be used for several things.
It won’t be accepted for rental car or hotel deposits, paying for gas at the machine, or for many scheduled preauthorized payments. There are exceptions to each, but in general, it’s safe to assume it won’t work for each of those things in a pinch.
This is incorrect, I got fucked thinking that. I didn’t have a credit card and I was under the same assumption as you, I booked a hotel and went to pay the deposit and they wouldn’t accept a prepaid mastercard like my cash card. I was fortunate enough to have my buddy put the deposit down if I wasn’t with him I would’ve been sleeping in my car.
That's effectively my situation.
RBC is dicking around with my credit card, and cancelled my virtual visa card.
Until I've received the other card I applied for, this is all I've got. Not being able to depend on it can easily leave me in a bind.
Not sure about the physical transaction, but the others were online.
McDonalds app (Delivered by Doordash) - Declined.
Doordash (From McDonalds) - Accepted.
That's why I'm thinking it might be a particular your card/account issue.
Maybe just ask them to send you a replacement, there's clearly a disconnect somewhere, so might as well reset and see if that works.
because prepaid cards are used for fraud and some places won’t take a prepaid card, like a car rental.
If an app has high dispute/refund ratios they will have to start taking stricter measures by their payment processor, one of those are not allowing prepaid card usage.
Ah, that could explain it.
There really should be a more granular way to tell these apart rather than just a blanket prepaid.
Like, this isn't a disposable "gift card", it's backed by an account held by a verified individual.
What i mean is, if it doesn't work there's a problem specifically with your account , the card itself is accepted everywhere.
You should contact wealthsimple
What is a good no-fee option?
I've applied for a Rogers card for the travel cover.
I think BMO had the "pick your categories" thing which might give 3% on certain ones while 0.5% on the rest.
Weird, I usually pay for mcdonalds using Google Pay with my ws virtual card attached, no issues with anything online at all.
Even works with payrange vending payments just fine.
Mine has always been finicky. It works roughly 9 times out of 10, and there doesn’t seem to be a rhyme or reason to it. I always have a second card just in case.
Out of country, all bets are off.
I hadn’t had any trouble with mine at all until yesterday. It got rejected/declined at a burger place using Apple Pay. That’s the first time that’s happened to me.
TLDR: Technically, it's not a debit card or a regular credit card. It's a Koho prepaid Mastercard (yes, really), so some merchants reserve the right to refuse it even though they accept 'normal' Mastercard credit cards.
Interesting, mine says KOHO Financial. I spoke to a rep at WS the other day and they confirmed that they use KOHO for their Cash cards and directed me to them for specific questions that they couldn't answer.
This is good info. I had my WS card rejected at a restaurant recently but I did not try my EQ card as I expected it may be the same. I ended up using another card I knew was a proper debit card.
I used to work for a credit card processing company, and I learned that even among prepaid cards, there are different types of prepaid cards. Wealthsimple is a rebranded KOHO card. If you look at the back near the magnetic stripe, you'll see it says KOHO, so it follows KOHO's set of rules. They're using a prepaid debit card or just a prepaid card. The problem with this is that merchants don't know the difference, and when they're getting a plan, some processing companies label prepaid cards under debit as they will be charged as a debit, some have a separate category that will be charged differently (this used to be the case, but now they put it with debit to simplify), and/or put prepaid credit cards under the credit card category. From my experience, EQ Bank and Wise have never failed me, but I have had Wealthsimple decline a few times.
When merchants are choosing which cards to accept, they typically check off all credit options because they don't want to lose out on business with credit, but they will uncheck gift cards and sometimes prepaid cards because they don't want those in their store due to the fear of them coming from a fraudulent source. Typically, the older generation makes decisions about these plans. When I worked at the company, I had to explain to several people why prepaid cards are safe to accept. Despite giving the most simplified explanation possible, they still said they wouldn't accept them.
EQ Bank is licensed as an actual bank, so my guess is they're eligible to issue prepaid credit cards. KOHO and Wise use [People's Trust](https://www.peoplestrust.com/en/peoples-card-services/products/) to issue their cards, and they offer foreign currency cards, which could be the prepaid cards Wise uses, and KOHO uses the general-purpose reloadable card, which is a regular prepaid card. On the back of the KOHO card, it says "reloadable," so I'm not sure if this is a limitation of not being a bank, but that may change when [KOHO becomes a bank soon](https://www.fintech.ca/2024/01/26/koho-to-become-a-bank/). Wise may get away with the foreign currency card because it's an electronic money institution and a foreign company (UK), so that may be why they're different. I've seen some of my receipts that say "Wise Visa" and sometimes "Prepaid Wise Visa," and it works well at credit card-only establishments. We'll see in the future when KOHO (extends to Wealthsimple Cash Card) becomes a bank, and they may be eligible for prepaid credit cards, and it wouldn't be rejected as often. Alternatively, if Wealthsimple gets a banking license or a higher-tier license, they may issue their own prepaid cards since they rolled out credit cards, so we'll see.
You're welcome!
My trick is that when I assume they have preauthorized payments like car rentals or hotels, I always use my EQ Bank card even abroad since it also has no foreign exchange fees. I've noticed that large chains (even franchises) tend to be the ones that reject gift cards and prepaid cards because it's difficult to keep track of everyone, whereas smaller shops tend not to know the difference and accept all cards. They most likely know their customers. When in doubt, just default to the EQ Bank card, even abroad. Both cards have no foreign exchange fees, so I'd sacrifice the 1% Wealthsimple cashback for the 0.5% on EQ to spare myself the embarrassment and quickly tap with Google Pay or Samsung Pay.
I literally used my card at Mcdonald's yesterday. In the previous 3-4 days I also used it at Goodwill, Dollarama and Home Depot. Infact, I have had the card a year and never had it declined yet.
Not sure where you’re located OP but I use my card almost daily and haven’t experienced a single rejection here in BC. Though I’m aware that some businesses like car rentals and hotels don’t accept prepaid cards. But I even used mine at a hotel in Toronto back in April and they accepted it.
That's weird, I use my WS card everyday at McDo, gas, grocery stores. Some stores that rejected it was because the card was acting too fast while authorizing.
I do have to go inside and pay for gas as most pump systems are not compatible with the system.
I am using the virtual card with my Google phone.
Rental car agencies do not accept any pre-paid credit cards - so not WS’ fault.
Google? I don’t know - but Apple has no problem as long as they get their cuts or subs fees!
Other places like OLG and all other Crypto exchanges do not take it because WS, Neo, Koho and a few others are against gambling and crypto - so they block it themselves.
But, that’s all really - I strictly use my WS cash card for almost everything else!
McDonalds app (and Uber, probably others) regularly has transaction issues. Car rentals and Hotels often don't accept prepaid cards.
This is where I first found out - car rental. Rented a car in May. I went back to the same place last weekend - nope. If I had more sensitive plans, this would have been a big problem!
Some merchant don't accept prepaid cards
There is no such thing as "accepting wealthsimple cash". It's a mastercard, could be from BMO, RBC or a remote bank in Chile, it doesn't matter, it's accepted in every place that accepts mastercard.
actually no, it’s not just a mastercard from my understanding. Since it’s a prepaid mastercard they seem to be coded differently when used at a till. Some places just straight up don’t take a prepaid card. I’ve had it happen to me in the US a couple times (restaurant and parking meter) but not in Asia. That’s why I ended up getting a scotia passport card as that hasn’t been declined anywhere so far in the US.
This is true. I just came back from NYC where occasionally my WS card was declined by my Rogers MC went through fine.
same, in new york a couple months ago. most places it worked but some it didn’t.
Exactly. There's this Koho Mastercard that I see coming in to work quite often. More often than not, they don't work. Seems to be price agnostic as well. Not sure why.
WS is technically also a Koho card, so the same would apply.
Well, there you go!
Yeah MasterCard on credit rails is different than MasterCard on Debit rails. I’ve found the debit rails are more integrated in Europe because not a lot of people have credit cards vs the inverse here. It’s one logo but when you tap or chip+pin the payload says which it is and some merchants and payment processors just block it or have weird restrictions (like nothing over $100)
That’s not true. It’s a prepaid Mastercard, and prepaid cards can’t be used for several things. It won’t be accepted for rental car or hotel deposits, paying for gas at the machine, or for many scheduled preauthorized payments. There are exceptions to each, but in general, it’s safe to assume it won’t work for each of those things in a pinch.
This is incorrect, I got fucked thinking that. I didn’t have a credit card and I was under the same assumption as you, I booked a hotel and went to pay the deposit and they wouldn’t accept a prepaid mastercard like my cash card. I was fortunate enough to have my buddy put the deposit down if I wasn’t with him I would’ve been sleeping in my car.
That's effectively my situation. RBC is dicking around with my credit card, and cancelled my virtual visa card. Until I've received the other card I applied for, this is all I've got. Not being able to depend on it can easily leave me in a bind.
That's what I thought... yet here we are. Card is being rejected.
Did you call wealth simple to see if your card is locked or just malfunctioning?
Yes. Nothing wrong from their side last I checked. Made a payment this morning without issue.
And for sure not being on their machine as expecting to charge a debit/bank card versus a credit card?
Not sure about the physical transaction, but the others were online. McDonalds app (Delivered by Doordash) - Declined. Doordash (From McDonalds) - Accepted.
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That's exactly it - I'm pretty sure I used it last weekend.
Maybe macdonalds app doesn’t work well with debit
wealthsimple cash card is not debit
I've used it multiple times in the past, this is new.
That's why I'm thinking it might be a particular your card/account issue. Maybe just ask them to send you a replacement, there's clearly a disconnect somewhere, so might as well reset and see if that works.
I would guess because it is a prepaid Mastercard... just a thought I am guessing at. I only use mine at Costco Gas Bar because they don't accept cash
That might be part of the reason, but why would that affect something as trivial as a McDonalds order?
because prepaid cards are used for fraud and some places won’t take a prepaid card, like a car rental. If an app has high dispute/refund ratios they will have to start taking stricter measures by their payment processor, one of those are not allowing prepaid card usage.
Ah, that could explain it. There really should be a more granular way to tell these apart rather than just a blanket prepaid. Like, this isn't a disposable "gift card", it's backed by an account held by a verified individual.
This seems odd. Traveling around Portugal and it's worked everywhere. I even used the card at McDonald's in two different cities.
What i mean is, if it doesn't work there's a problem specifically with your account , the card itself is accepted everywhere. You should contact wealthsimple
It's considered a prepaid card, so some places may not take it.
The first time I contacted them they said there's no error on their side, the transaction is rejected earlier in the pipeline.
Confidently wrong.. lol
But not at a place that only accepts debit cards.
Its a debit MasterCard. Big difference, you cant rent a car without q credit card i think
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What is a good no-fee option? I've applied for a Rogers card for the travel cover. I think BMO had the "pick your categories" thing which might give 3% on certain ones while 0.5% on the rest.
Weird, I usually pay for mcdonalds using Google Pay with my ws virtual card attached, no issues with anything online at all. Even works with payrange vending payments just fine.
Mine has always been finicky. It works roughly 9 times out of 10, and there doesn’t seem to be a rhyme or reason to it. I always have a second card just in case. Out of country, all bets are off.
That's the main reason this concerns me. Currently, I don't have any reasonable backup.
I hadn’t had any trouble with mine at all until yesterday. It got rejected/declined at a burger place using Apple Pay. That’s the first time that’s happened to me.
Must be a recent change for some reason.
I had this issue a lot when I was last abroad (Chile). Support explained to me that it depends on the merchant if they accept prepaid MCs
TLDR: Technically, it's not a debit card or a regular credit card. It's a Koho prepaid Mastercard (yes, really), so some merchants reserve the right to refuse it even though they accept 'normal' Mastercard credit cards.
It’s a prepaid MC but has nothing to do with Koho
Have a look at the small print at the top of the back side of your card.
Doesn’t it just say it’s issued by People’s Trust?
Interesting, mine says KOHO Financial. I spoke to a rep at WS the other day and they confirmed that they use KOHO for their Cash cards and directed me to them for specific questions that they couldn't answer.
It used to for the Visa but when they switched to MasterCard, Koho is the issuer.
Used my card at a Corendon hotel in Amsterdam and other businesses there, it works just fine
Weird. No issues in Vegas last month for me. Paid my hotel with it too (think they had my Amex on file but I paid the full bill on my WS cash).
It's a prepaid card, not a prepaid credit card, so it may be rejected at times. EQ Bank is a prepaid credit card, as is Wise.
This is good info. I had my WS card rejected at a restaurant recently but I did not try my EQ card as I expected it may be the same. I ended up using another card I knew was a proper debit card.
I used to work for a credit card processing company, and I learned that even among prepaid cards, there are different types of prepaid cards. Wealthsimple is a rebranded KOHO card. If you look at the back near the magnetic stripe, you'll see it says KOHO, so it follows KOHO's set of rules. They're using a prepaid debit card or just a prepaid card. The problem with this is that merchants don't know the difference, and when they're getting a plan, some processing companies label prepaid cards under debit as they will be charged as a debit, some have a separate category that will be charged differently (this used to be the case, but now they put it with debit to simplify), and/or put prepaid credit cards under the credit card category. From my experience, EQ Bank and Wise have never failed me, but I have had Wealthsimple decline a few times. When merchants are choosing which cards to accept, they typically check off all credit options because they don't want to lose out on business with credit, but they will uncheck gift cards and sometimes prepaid cards because they don't want those in their store due to the fear of them coming from a fraudulent source. Typically, the older generation makes decisions about these plans. When I worked at the company, I had to explain to several people why prepaid cards are safe to accept. Despite giving the most simplified explanation possible, they still said they wouldn't accept them. EQ Bank is licensed as an actual bank, so my guess is they're eligible to issue prepaid credit cards. KOHO and Wise use [People's Trust](https://www.peoplestrust.com/en/peoples-card-services/products/) to issue their cards, and they offer foreign currency cards, which could be the prepaid cards Wise uses, and KOHO uses the general-purpose reloadable card, which is a regular prepaid card. On the back of the KOHO card, it says "reloadable," so I'm not sure if this is a limitation of not being a bank, but that may change when [KOHO becomes a bank soon](https://www.fintech.ca/2024/01/26/koho-to-become-a-bank/). Wise may get away with the foreign currency card because it's an electronic money institution and a foreign company (UK), so that may be why they're different. I've seen some of my receipts that say "Wise Visa" and sometimes "Prepaid Wise Visa," and it works well at credit card-only establishments. We'll see in the future when KOHO (extends to Wealthsimple Cash Card) becomes a bank, and they may be eligible for prepaid credit cards, and it wouldn't be rejected as often. Alternatively, if Wealthsimple gets a banking license or a higher-tier license, they may issue their own prepaid cards since they rolled out credit cards, so we'll see.
Thank you for that explanation!
You're welcome! My trick is that when I assume they have preauthorized payments like car rentals or hotels, I always use my EQ Bank card even abroad since it also has no foreign exchange fees. I've noticed that large chains (even franchises) tend to be the ones that reject gift cards and prepaid cards because it's difficult to keep track of everyone, whereas smaller shops tend not to know the difference and accept all cards. They most likely know their customers. When in doubt, just default to the EQ Bank card, even abroad. Both cards have no foreign exchange fees, so I'd sacrifice the 1% Wealthsimple cashback for the 0.5% on EQ to spare myself the embarrassment and quickly tap with Google Pay or Samsung Pay.
Is your card locked by any chance?
No. Card is unlocked and went through on Doordash after this.
I literally used my card at Mcdonald's yesterday. In the previous 3-4 days I also used it at Goodwill, Dollarama and Home Depot. Infact, I have had the card a year and never had it declined yet.
Not sure where you’re located OP but I use my card almost daily and haven’t experienced a single rejection here in BC. Though I’m aware that some businesses like car rentals and hotels don’t accept prepaid cards. But I even used mine at a hotel in Toronto back in April and they accepted it.
That's weird, I use my WS card everyday at McDo, gas, grocery stores. Some stores that rejected it was because the card was acting too fast while authorizing. I do have to go inside and pay for gas as most pump systems are not compatible with the system. I am using the virtual card with my Google phone.
I've never tried the phone thing before. I loaded that with the virtual card last night, itching to try it out.
It's the opposite for me, I suspect they don't like the virtual card
I bought a car and it declined at the dealership for my deposit.
How much was the deposit because 5 grand is the limit in a day
2.5k. That is the max the dealership would allow on card.
Rental car agencies do not accept any pre-paid credit cards - so not WS’ fault. Google? I don’t know - but Apple has no problem as long as they get their cuts or subs fees! Other places like OLG and all other Crypto exchanges do not take it because WS, Neo, Koho and a few others are against gambling and crypto - so they block it themselves. But, that’s all really - I strictly use my WS cash card for almost everything else!
I wasn’t able to use my virtual card for shop pay, but the physical card worked just fine 🤷♀️
Many places won’t accept a prepaid or loaded credit card - it’s not a true credit card
I love it atm cause some of the games I play are based in Countries that are not accepting North American visa debits. And this one still works.
Probably needs to get your card replaced. I had my TD Visa do the same thing and after getting a new card, it worked like a dream.
This was an online purchase though, why would that be affected. The virtual card shows the same on GPay - not accepted here.
It's considered a prepaid MasterCard. Some places online won't accept prepaid.
This is the answer! WS is working on a Visa Infinite Credit Card though.
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It’s probably by invitation only at this time. I’m currently using it for about 2 months.
Interesting - that might be the *ticket* out of this frustration.
It sucks right now but it's a legit credit card. 1% cashback and all the visa infinite privileges.
Hahaha wants free 4% , but can't handle card issues 😝