Stack

Stack is a Toronto-based fintech company founded in 2017. It offers the Stack Prepaid Mastercard, a reloadable prepaid card that allows users to spend money at home and abroad without incurring monthly fees, foreign transaction fees, or ATM withdrawal fees (terms apply). The Stack app provides features such as automated savings, expense tracking, and exclusive discounts from partner retailers.

The Stack Prepaid Mastercard operates like a debit card, where users can only spend the funds they have loaded onto the card. It can be used anywhere Mastercard is accepted worldwide. Users can load funds onto the card through methods like Interac e-Transfer, Visa Debit, or direct payroll deposit.

Stack's key product offerings include:

1. No Monthly Fees: There are no monthly account fees, provided users meet the minimum monthly spend requirement of USD 350 using the card.

2. No Foreign Transaction Fees: When making purchases abroad, users pay zero foreign exchange fees on up to USD 1,000 CAD spent outside Canada per month, provided they meet the USD 350 monthly spend requirement.

3. Free ATM Withdrawals: There are no ATM withdrawal fees for domestic or international ATM use, provided users meet the USD 350 monthly spend requirement.

4. Automated Savings: The Stack app allows users to set savings goals and automatically round up their purchases to the nearest USD 1, USD 2, USD 5, or USD 10, with the difference being transferred to their savings.

5. Financial IQ: The app provides insights into users' weekly and monthly spending habits to help them better manage their finances.

6. Exclusive Discounts: Stack partners with over 140 retailers to offer exclusive discounts on purchases made using the Stack Prepaid Mastercard.

Stack does not offer a rewards program based on points or cash back. Instead, it focuses on providing instant discounts and offers from partner merchants.

In September 2023, Stack announced that it would be ceasing operations, and the Stack Prepaid Mastercard would be deactivated. Users were advised to spend their remaining balance or request a withdrawal, with any unclaimed funds being returned via e-Transfer within 45 days.