| Tired
of Travellers Cheques? – Check This!
New Prepaid Travel Mosaik MasterCard Offers a Safer, More Convenient Alternative
to Traditional Travellers Cheques
Added security, more widely accepted around the world and travellers
can access local currency via ABMs
TORONTO,
June 25, 2007 – 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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Contacts:
Ralph Marranca,
Toronto, ralph.marranca@bmo.com,
(416) 867-3996
Lucie Gosselin, Montreal, lucie.gosselin@bmo.com,
(514) 877-1101
Laurie Grant, Vancouver, laurie.grant@bmo.com,
(604) 665-7596
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