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Wealthsimple Is Replacing Its Mastercard, With a Catch for Costco Shoppers
Toronto-based fintech Wealthsimple is replacing its prepaid Mastercard with a Visa Platinum Prepaid card, bringing faster ATM fee refunds and new spending controls. But there’s a catch for Costco shoppers: the new card won’t work inside Canadian warehouses. The change is rolling out in phases, according to Wealthsimple’s updated support page today. Customers will receive an email or app notification when it’s their turn. If you haven’t been notified, no action is needed yet. The Visa card keeps the existing no foreign exchange fee benefit. Also, ATM fee reimbursements become nearly instant, while the card’s $250 tap limit is removed (but merchants may still set their own limits).