News Releases

Hot on the heels of its recent AIR MILES-with-debit card announcement, BMO Bank of Montreal has launched another innovative card product, this time targeting Canadian travellers looking for an alternative to travellers cheques that have become impractical and inconvenient.

Especially designed for travel, BMO's Prepaid Travel Mosaik MasterCard has all the convenience and benefits of a credit card without the interest charges, and it is accepted at more than 24 million locations worldwide.

"A prepaid travel card has a lot of potential in the travel market," said Nancy Marescotti, Director, Brand Marketing. "Travellers tell us they don't like travellers cheques because not enough merchants accept them and they are too difficult to cash. BMO's Prepaid Travel Mosaik MasterCard is the perfect alternative to travellers cheques because it is accepted almost everywhere, it's easier to use and it's safe and secure," she said. "Additionally, cardholders can obtain cash in local currency at any automated banking machine around the world that is connected to the Cirrus network. This is a key benefit for travellers and is unique for this program versus travellers cheques."

The Prepaid Travel Mosaik MasterCard is personalized with the cardholder's name and comes with the added security of extended warranty and purchase protection insurance. The card is safer than cash, since if lost or stolen it can be cancelled at any time and funds can be replaced. It also offers cardholders zero liability on unauthorized purchases. In addition, the Prepaid Travel Mosaik MasterCard provides cardholders the opportunity to earn one AIR MILE reward mile for every $40 spent on the card, at no additional fee.

Travelling vacationers can use the Prepaid Travel Mosaik MasterCard just like a credit card and the funds will be debited from the total prepaid amount on the card. The Prepaid Travel Mosaik MasterCard can be loaded easily from any bank account from most financial institutions by using the same process used to make a bill payment. This can be done through an ABM, via online banking or telephone banking.

"The Prepaid Travel Mosaik MasterCard is an easy-to-use solution for travellers who want to stick to a set budget. You can track your expenditures online so that you can monitor your spending while you are travelling. Once you have a card for yourself, you can even purchase a supplementary card for someone special like a young adult who's travelling or as a gift for a graduating student," said Ms. Marescotti.

"Our new Prepaid Travel Mosaik MasterCard provides voyagers with the reassurance that their finances and personal information are safe while travelling abroad," noted Marescotti. "This card provides a secure and convenient way to carry funds, help manage a budget and still enjoy many of the same benefits of BMO's Mosaik MasterCard."

To promote the Prepaid Travel Mosaik MasterCard, BMO Bank of Montreal is holding a Purchase, Load & Win Contest with a grand prize of 50,000 AIR MILES reward miles and $1,000 loaded onto the winner's Prepaid Travel Mosaik MasterCard. Cardholders will automatically receive one contest entry each time their card is loaded with $500 or more between June 1, 2007 and August 31, 2007.

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