Finance Minister Joe Oliver unveils new regulations Wednesday designed to protect consumers using prepaid debit cards.
Many of those cards carry a range of fees for additional monthly maintenance, card activation and bank machine withdrawals.
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READ MORE: New prepaid credit card regulations: – what you need to know
The new rules will require charges for all prepaid payment products to be disclosed in an information box on the card’s packaging.
Issuers will also be prohibited from attaching an expiry date to pre-loaded cards.
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