Personal Finance

Can’t use your Venmo card in Canada? Here are some handy alternatives

Piyush Singh

21.02.25

Read time 2 minutes

The Venmo debit card is an on-the-go option for online and in-store purchases wherever MasterCard is accepted in the United States. However, this card is not eligible in Canada as Venmo doesn’t support international transactions. Venmo states that their debit cards will be declined in Canada, and you can’t withdraw cash from ATMs, either. If you’re spending in Canada and looking for a similar payment solution , you’ve come to the right place! In this article, we’ll explore top alternatives, including the Wise card, which lets you spend like a local at the mid-market exchange rate.

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Alternatives to the Venmo card in Canada KOHO Prepaid Mastercard Wise card: Spend like a local Wealthsimple Cash Card CIBC Advantage debit card Which card is the best alternative to the Venmo debit card?

Alternatives to the Venmo card in Canada

Several prepaid and debit card options offer great features when you need a convenient way to pay for purchases in Canada. These could be great alternatives to the Venmo card.

KOHO Prepaid Mastercard

The KOHO Prepaid Mastercard is a reloadable card that acts like a debit card, making it useful for anyone wanting to watch their spending and budget effectively.¹ It’s available to Canadian residents.¹

Pros	Cons
Earn cash back on groceries, transportation, and at select merchants.¹	A fee applies when using the KOHO Prepaid Mastercard at international ATMs³
Quickly lock your card in the KOHO app or use a virtual card when shopping online.¹	1.5% foreign transaction fees are charged for non-Canadian transactions.
Permits building credit score, so long you sign up for the optional credit building feature.²	Can only hold one currency.
No-fee accounts for the basic account.¹	Some features require a paid plan.
Limits spending, preventing debt and overspending.¹
Offers a virtual card.⁴
No interest.¹

Wise card: Spend like a local

Want to spend like a local wherever you are? 💸 The Wise card is an excellent choice for keen travelers, or anyone spending money across different currencies. Available as a virtual card immediately after signing up in the app, Wise offers users an attractive mid-market exchange rate, when paying in local currencies, saving money on conversion fees.

Pros	Cons
Easily spend money in over 40 currencies	No cash-back rewards
Manage money anywhere from the app	After 2 fee withdrawals per month, ATM fees apply
Offers mid-market exchange rates
Low conversion fees, starting at 0.48%*
No monthly fee, and it’s free to get your account
Offers a free virtual card
Freeze and unfreeze your physical card and virtual cards instantly.

Wealthsimple Cash Card

The Wealthsimple Cash card is a pre-paid Mastercard available in Canada that takes funds directly from your Cash account anywhere that accepts Mastercard.⁵

Pros	Cons
Earn 1% cash back, stock, or crypto on eligible purchases.⁵	Not a true credit card
No fees for using the card.⁵	Can not earn credit score
No charge for any foreign transaction fees when used internationally.⁵
Receive 1% cash back on all eligible purchases.⁶
Offers virtual card.

CIBC Advantage debit card

The CIBC Advantage Debit Card allows users to manage daily banking and make secure purchases straight from their CIBC bank account.⁷

Pros	Cons
Use it for online and in-store purchases⁷	A 2.5% fee is charged on foreign currency transactions
Can be used in Canada and abroad⁷	ATM fees start at $2
Does not have an annual fee⁷
Earn monthly cash back on purchases ⁷
No interest charges ⁷
No late fees⁷

Which card is the best alternative to the Venmo debit card?

The top alternative ultimately comes down to your specific spending needs. If you’re looking for cashback rewards and strict budgeting tools, KOHO or the Wealthsimple Cash Card are great choices, while the CIBC Advantage Debit Card offers a close contender to banking.

If you travel frequently or make international purchases often, the Wise card is among the best alternatives to the Venmo card. It offers instant access as a virtual card, competitive exchange rates, and low fees, making it a great choice for spending in Canada or abroad. Looking for a Venmo alternative that works worldwide?Get started with Wise today.

Sources:

KOHO - Visa to Mastercard
Credit Score Brackets for Loan Approval - KOHO
Prepaid Credit Cards: 10 Advantages You Need to Know About- KOHO
4 Key Reasons Using a Virtual Card for Online Shopping - KOHO
Use your Wealthsimple Cash card.
Earn rewards with your Wealthsimple Cash card
CIBC Advantage Visa Debit Card
Sources verified on 21 FEbruary 2025

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.