CIBC AC Conversion Visa Prepaid Card Review

July 16, 2021
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The CIBC AC Conversion Visa Prepaid Card is an excellent, international-friendly card for Canadians planning to travel in the next 12 months. You don’t need to be an existing CIBC client to apply, there’s no credit check involved, and it takes less than 5 minutes to be approved.

With no foreign exchange fees, the ability to load up to ten currencies onto the card, and 1% cash back on all purchases until October 31, 2021, this is a great card for the international traveler or anyone shopping from foreign retailers. I recommend applying for the CIBC AC Conversion Visa Prepaid Card while this offer lasts.

Features Of The CIBC AC Conversion Visa Prepaid Card

1% Cash Back

From now until October 31, 2021, you’ll earn 1% cash back on every purchase made with your CIBC AC Conversion Visa Prepaid Card. This includes purchases made in foreign currencies, making this a 

This makes the CIBC AC Conversion Visa Prepaid Card an excellent candidate for anyone traveling internationally this year. Not only will you avoid any foreign currency exchange fee—which often amounts to 2.5% of the transaction—you’ll also earn 1% cash back, which is like a 3.5% bonus on everything you spend.

One Free Foreign ATM Withdrawal Per Month

Another bonus of the CIBC AC Conversion Visa Prepaid Card is that you get one free foreign ATM withdrawal per month. Even after you use your one free foreign ATM withdrawal, though, the withdrawal fees are actually extremely reasonable. 

For example, you’ll pay just 1.95 GBP (~3.34 CAD) for withdrawing pounds in the UK, and just 7.95 TRY (~1.14 CAD) for withdrawing lira in Turkey. 

Load Up To 10 Currencies

The CIBC AC Conversion Visa Prepaid Card will get you into the habit of carrying less cash when you travel. You can lock in a great exchange rate each time you add foreign currency, so you’ll never need to track foreign exchange rates. Plus, there’s no extra conversion fee, and you can do all of your loading directly in the app or on the website.

Here are the ten currencies you can load onto your CIBC AC Conversion Visa Prepaid Card:

Canadian Dollar (CAD)U.S. Dollar (USD)
Euro (EUR)British Pound (GBP)
Australian Dollar (AUD)Hong Kong Dollar (HKD)
Japanese Yen (JPY)Turkish Lira (TRY)
Swiss Franc (CHF)Mexican Peso (MXP)

There’s no minimum load amount, and you can add up to $20,000 CAD (or the equivalent in foreign currency) to the card. The maximum load amount in 24 hours is the equivalent of $3,000 CAD. The maximum daily purchase limit is $3,000 CAD, and the maximum daily ATM withdrawal limit is $2,000 CAD.

Reload Currency On The Go

Whether you’re at home or already at your destination, you can instantly add funds to your CIBC AC Conversion Visa Prepaid Card using the Bill Payment functionality in your online banking, or by using the AC conversion App directly. You can also use the app to check your balance, keep track of your spending, transfer money from one currency to another, and retrieve your PIN.

No Credit Check

Because the CIBC AC Conversion Visa Prepaid Card is a prepaid card, there’s no credit check when you apply. This is great if you have a relatively young credit history (if you’re a student or in your twenties, for example), but also great if you plan on applying for other credit cards soon.

Zero Fees

One of the best parts about the CIBC AC Conversion Visa Prepaid Card is that, despite having so many features, there aren’t any fees. There’s no fee to order the card, no fee to load it, and no conversion fees when you make a purchase. You’re preloading the card, so there’s no interest on purchases, either.

There’s also no annual fee, so I recommend getting this card even if you don’t have immediate plans to use it: it doesn’t impact your credit score at all, so you’ll have it ready when you travel or buy something from abroad. 

Extremely Secure

The CIBC AC Conversion Visa Prepaid Card is protected by advanced chip and PIN technology to minimize fraud and theft. It also comes with Emergency Card Replacement Service, Emergency Cash Service and protection from unauthorized use of cards or account information. And because you don’t need to be a CIBC account holder to apply—and your CIBC AC Conversion Visa Prepaid Card won’t be linked to any other credit cards or your primary bank account—you’ve got an additional layer of security built in.

The CIBC AC Conversion Visa Prepaid Card contact centre is available 24/7 and can take your questions in English and French.

$10 Referral Bonus

When you refer a friend to the CIBC AC Conversion Visa Prepaid Card, both you and your friend will receive a $10 bonus. There’s no limit to the number of friends you can refer, so you can earn a good amount of money just by sharing the benefits of the card with your family and friends.

Use our signup link below to get your own CIBC AC Conversion Visa Prepaid Card.

How To Use The CIBC AC Conversion Visa Prepaid Card While Traveling

Imagine you and a friend are traveling to Turkey for two weeks. You plan to spend a few days in Istanbul, take a hot air balloon above Cappadocia, and spend a week on the Mediterranean coast. 

Before and after your time in Turkey, you’ve also arranged for two stopovers of a few days each. On the way there, you’ll visit Barcelona, and on the way home, you’ll visit London. Overall, your trip is 3 weeks long.

CIBC AC Conversion Visa Prepaid Card Review Cappadocia, Turkey

If the two of you spend $5,000 between you for the trip—between buying your airline tickets in U.S. dollars, two weeks of hotels and travel in Turkey, and your stopovers in Barcelona and London—you could expect to pay about $125 in foreign exchange fees with a typical credit card (2.5% x $5,000). But with the CIBC AC Conversion Visa Prepaid Card, you won’t pay any fees, and what’s more, you’ll spend five currencies (Canadian dollars, U.S. dollars, Turkish lira, Euros, and British pounds) with the ease of spending one.

Spend Like A Local

You might be skeptical that spending so many different currencies is really that easy. After all, what if you preload too much Turkish lira but find yourself needing Euros instead? 

The CIBC AC Conversion Visa Prepaid Card makes situations like these simple: with a couple of taps in the app, you can transfer funds between any of the currencies listed above. This is ideal for multi-country trips like this one, or even if you do a lot of online shopping from abroad.

Rather than exchanging money at home and carrying thousands of dollars in cash with you as you travel (stressful and unsafe), just load some cash onto the card and relax. If you need more of a certain currency, you can always add more from Canadian dollars or transfer it over from another currency. And if you add too much and have funds left over, just convert them to the currency of your next destination or back to Canadian dollars, whichever you prefer.

Lock In Great Rates

Currencies fluctuate all the time, but every trip only happens once. This means sometimes you get a favourable exchange rate when you travel, but sometimes you don’t. How can you take matters into your own hands and ensure that you get a good rate all the time, regardless of timing? It's easy to do with the CIBC AC Conversion Visa Prepaid Card and a bit of forward planning.

For example, at the start of January 2020, one Canadian dollar was worth $0.77 USD. Three months later, though, it was worth just $0.70 USD, a 10% drop. If you had loaded U.S. dollars onto your CIBC AC Conversion Visa Prepaid Card in January, you would have locked in that favourable rate, and you would have still benefited from it even if you traveled there in April. In other words, that little bit of planning would have saved you 10% on every purchase you made in the U.S.

This means that not only can you save the standard 2.5% foreign exchange fee on foreign purchases, but you can potentially save much more if you load money onto your card at the right time. 

In Summary

The CIBC AC Conversion Visa Prepaid Card is an excellent, international-friendly card for Canadians planning to travel in the next 12 months. You don’t need to be an existing CIBC client to apply, there’s no credit check involved, and it takes less than 5 minutes to be approved.

With no foreign exchange fees, the ability to load up to ten currencies onto the card, and 1% cash back on all purchases until October 31, 2021, this is a great card for the international traveler or anyone shopping from foreign retailers. I recommend applying for the CIBC AC Conversion Visa Prepaid Card while this offer lasts.

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