MintChip (digital currency) released in Canada

[TomPlex]

https://mintchip.ca/

Digital currency platform created by the Royal Mint of Canada back in 2012 that was purchased by another company. Launched this week.

Basically:

- 1 Mint Chip = $1 CAD
- Send money to friends by email or NFC
- Top-up funds via credit card via regular purchase (NOT CASH ADVANCE, so no fees)
- $100 top-up limit per transaction, $250 limit per day, $500 per week (though app says $1,500, there are rumblings that it's already been decreased to $500)
- No fees to transfer money to or from account

Doing the math, $500 over 52 weeks is $26,000, which equates to 26,000 Aeroplan miles or $260 cash back on most cash back cards.

There doesn't appear to be a catch, even though everything screams to me that there is one. I just did my first $250, saw the charges on my Capital One go through as 3 regular purchases of $100, $100 and $50, and successfully transferred the money to my bank account (which will arrive in 3-4 days). Let's see how it pans out!

Click to read more...

 

[S A W F T*]

No one that posts here is old enough to use this new service. Interesting nonetheless.

 

[Bones Malone]

Whazzat?

 

[S A W F T*]

MintChippah

 

[Bones Malone]

Tsss

 

[Dr Pepper]

I thought this thread would be about ice cream.

But then I figured, wait, mint chip has been around in Canada since forever.

It's my all-time favourite ice cream flavour.

My "flavourite", you might say.

That said, I was still intrigued as to what exactly mint chip was being introduced.

I already have no fee banking, so this.....didn't really appeal to me.

 

[Dog]

I thought this thread would be about ice cream.

But then I figured, wait, mint chip has been around in Canada since forever.

It's my all-time favourite ice cream flavour.

My "flavourite", you might say.

That said, I was still intrigued as to what exactly mint chip was being introduced.

I already have no fee banking, so this.....didn't really appeal to me.

brag brag brag brag

 

[TomPlex]

I already have no fee banking, so this.....didn't really appeal to me.

You're missing the point. It's not about the no-fee banking. It's about the potential infinite loop of profit that can be obtained lol

 

[MetalheadPenguinsFan]

Ehhhhh.

 

[Pharrell Williams]

but can you use it to purchase falsified birth certificates on the dark web?

 

[TomPlex]

Catch has been found: apparently once they roll out the ability to top-up via bank account, they will start charging a 3% fee for credit card top-ups. Gotta max it out while it lasts!

 

[TomPlex]

https://nanopay.zendesk.com/hc/en-u...the-future-like-other-similar-apps-out-there-

 

[Tuggy]

brag brag brag brag

Well if he's not talking about his "great" condo or that one girlfriend he had or his bike, then what else can be said?