What is an Ilagiisaq Prepaid Mastercard®?

Ilagiisaq Prepaid Mastercard® offers what are known as "stored value" cards. Quite simply, that means that you store money and access it by using your card worldwide at a bank machine (ATM) or by using it like a normal credit card to make purchases at point of sale – POS cash register. The Ilagiisaq Prepaid Mastercard can receive direct deposits, transfer "cash" between cards via telephone or on a web platform, online shopping credit card.

 What name will be printed on the card?

 Name of the individual who applied for the card will be printed on it.

 Does your Ilagiisaq Prepaid Mastercard® expire?

Card expiration date will be embossed on front of card. 

 Do I need to activate my Ilagiisaq Prepaid Mastercard®?

Yes. You must activate and/or sign the Card as instructed upon receipt of the Card.

Activation instructions will be on the card carrier received with the card.

 Can Ilagiisaq Prepaid Mastercard® ever have a negative balance?

Information About Balance: It is your responsibility to ensure that there is a sufficient Balance on the Card to cover transactions plus any pre-authorized amounts. 

To obtain the current Balance amount, or the transaction history, visit the Website www.Ilagiisaqcard.com. The Card Balance will reflect all transactions that have been posted to our system.  You are not allowed to exceed the Balance available on the Card for any transaction. If you attempt to use the Card when there is insufficient Balance available to cover the full Transaction Amount, the transaction in most instances will be declined. However, if due to a system malfunction or for any reason whatsoever, a transaction occurs despite insufficient Balance on the Card, creating a negative amount, you agree to reimburse us, within ten (10) days upon request, for the amount of the Transaction Amount in excess of the Balance.

If a negative Balance is created on the Card following any transaction initiated or authorized by you, then you agree to repay the amount of the negative Balance to us within ten (10) days of such transaction.

If the Card has a negative Balance for sixty (60) consecutive days, we will put the Card into a suspended state so that no other transaction can be processed. Please call customer service if you wish to continue using the Card.

In the event that there is not a sufficient Balance on the Card to pay monthly maintenance fees, we may deactivate the Card without notice.

 Are there any limits?

Yes. See below limits per card table.

Ilagiisaq Prepaid Mastercard® features a limits (per card):
 

 Who can apply for an Ilagiisaq Prepaid Mastercard®?

Anyone can apply if they reside in Canada and are 16 years of age and above.

 Are there different types of cards?

No, all cards function the same way, but they can be put to a number of different uses. Your employer can use a Ilagiisaq Prepaid Mastercard® as a more convenient and less costly way to pay you.

 How secure is my money with Ilagiisaq Prepaid Mastercard®?

An Ilagiisaq Prepaid Mastercard® is more secure than a bankcard. Like a bankcard, nobody can get at your cash without your Personal Identification Number (PIN). What's more, unlike a bankcard, the maximum risk that you face is the amount of money stored on the card. With a normal bankcard, someone who steals both your card and PIN may be able to clean out your entire bank account.

 How is Ilagiisaq Prepaid Mastercard® better than cash?

There are lots of ways that Ilagiisaq Prepaid Mastercard® beats cash. To name just two:

1. Ilagiisaq Prepaid Mastercard® is more secure than cash. If cash is lost or stolen it is likely gone forever. If your Ilagiisaq Prepaid Mastercard® is lost or stolen, it can be replaced. No one can get at your money unless they also have your PIN. (We recommend that you do not write down your PIN or, if you do write it down, never keep it in the same place as your card.)

2. An Ilagiisaq Prepaid Mastercard® is a global money and credit card. When you use cash, you usually have to exchange your money for local currency when you travel out of the country, which can be a costly and time-consuming inconvenience. With Ilagiisaq Prepaid Mastercard®, you can use your card at any worldwide ATM. 

 Where can I use my card?

The Card includes a PIN that can be used to withdraw any Balance available on the Card in cash at any ATM displaying the Mastercard or Cirrus® acceptance marks. When you use the Card at an ATM, the amount of the withdrawal, plus any applicable fees and taxes, will be deducted from the available Balance associated with your Card. Your Card can also be used at any point of sale – POS cash register that accepts contactless transactions, subject to merchant purchase limits. You are solely and completely responsible for the possession, use, and control of the Card.

 How many cards may I register under my name?

We limit to one (1) card per person activated under the same name.

 Can I use my Ilagiisaq Prepaid Mastercard® like a credit card before I add money to the card?

No. An Ilagiisaq Prepaid Mastercard® is what is known as a "stored value" card. This means that you must first add money to the card and then spend or withdraw that money from it. You cannot use the card to spend more than the amount of money that is stored on it.

 Do I need a good credit record to get a card?

No. Since you cannot spend more money than you have added to the card, the card issuer does not assume any risk and, therefore, is not concerned with your credit rating.

 How do I add money to my card?

Please see the methods below:

- DDA Direct Deposit Account (Payroll)
 - Cash Deposit -reloading cash at your local Co-op store terminal.
 - Ilagiisaq Prepaid Mastercard® to Ilagiisaq Prepaid Mastercard® (card-to-card transfer)
 

 Can I transfer money from my Ilagiisaq Prepaid Mastercard® to my bank account?

No.

 Is my money protected if my card is lost or stolen?

Yes. Nobody can get at your money without your PIN. If your card is lost or stolen, it can be replaced once we verify that you are the authorized cardholder.

 What happens If you lose the Card and/or PIN (Personal Identification Number)?

If you lose the Card and/or PIN or you become aware that the PIN may have become known to someone else, you must notify us IMMEDIATELY Monday-Friday: 9am - 6pm ES at 1-877-688-6729. All transactions carried out on the Card before you notify us will be considered to have been made by you.

If you forget the PIN, you can retrieve the PIN online at www.Ilagiisaqcard.com The PIN may be disabled if an incorrect PIN is entered three (3) times on a point of sale – POS cash register

 transaction or at any ATM. If the PIN is disabled, please call customer service for assistance. If the PIN is disabled, or if a merchant does not accept chip and PIN transactions, you will be required to sign for any transactions at merchants, provided that this is supported by and acceptable to the merchant.

 Are there any transaction fees?

Yes. See below fees Table.

 How is the currency exchange rate calculated when the card is used outside of my country?

Transactions Made in Foreign Currencies: We convert any transactions made in a foreign currency to Canadian dollars using a Mastercard conversion rate in effect on the day the transaction is posted to your Card plus a foreign exchange service charge of 2.5% payable to Ilagiisaq Prepaid Mastercard. The currency conversion rate in effect on the processing date may differ from the rate in effect on the transaction date or the posting date. The Mastercard conversion rate is the rate that we pay to Mastercard and may not be the same as the rate that existed on the date the transaction was made. If a foreign currency transaction is refunded to your Card, the Mastercard conversion rate used to convert your refund to Canadian dollars for your Card is the rate that we pay to Mastercard minus the foreign exchange service charge of 2.5% retained by us. The rate that we pay to Mastercard may not be the same as the rate that existed on the date the transaction was refunded. The refund amount credited to the Balance will usually be less than the amount that was originally charged to your Card for that transaction.

 Can I find out how much money is in my Ilagiisaq Prepaid Mastercard® account? Or do I have to keep track of that myself?

You can see your card's balance, along with any transactions applied to your card, on the secure Ilagiisaq Prepaid Mastercard® website at www.Ilagiisaqcard.com 

 Is there someone I can talk to if I am having a problem?

Yes. 

Contact Information: If you have questions regarding the Card, or need to report a lost or stolen Card, you may call customer service Monday-Friday: 9am - 6pm EST at 1-877-688-6729 or write to:Support@posatel.com.

 Why should I trust Ilagiisaq Prepaid Mastercard®?

The security of your money is of utmost importance at Ilagiisaq Prepaid Mastercard®. We take great care to protect it, such as using the highest publicly available level of security.