I hold two credit cards in Canada- one from a large financial institution (TD Canada) and one with an online bank (PC Financial).
When using these cards for travel, for the TD Mastercard, I am okay to use the card anywhere I travel without notifying the bank. For the PC Mastercard, I am to fill out an online travel advisory form.
I think this is a great example of reverse psychology at play- I feel more "confident" using my PC Mastercard knowing that the bank has received and approved my travel request.
When first using my TD card on a trip, I always feel like the transaction may be rejected as it may be flagged as fraudulent. Funnily enough, this hasn't happened (so far).
- Why does one bank ask for said advisory while the other doesn't?
- In the case where the bank isn't asking for an advisory, how do they to differentiate a transaction that's authentic versus one that isn't?