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What is CAARY Business Mastercard?

The CAARY Mastercard is a business card that doesn’t require a credit check or any personal guarantees, and there’s no annual fee. It connects to your corporate bank account and offers a number of benefits tailored to businesses.

Where can I use my CAARY card?

CAARY cardholders can use their cards at any of the millions of merchants across 200+ countries where Mastercard is accepted.

How much does it cost?

CAARY operates on a simple pricing structure with no hidden fees. Please see our pricing page for details.

Will applying for CAARY affect my credit score?

No. Applying for CAARY, whether your application is approved or rejected, will never affect your personal credit score.

How do I sign up for CAARY?

To sign up for CAARY, get started here: Here’s a short list of information we will ask as part of the application process:

  • Personal address and information for one corporate officer
  • Corporate formation information
  • Credentials to link a bank account (CAARY sets your card limit as a % of cash in your linked bank accounts)

If you have any questions about your application, please write to us at

Who qualifies for CAARY?

CAARY serves small to medium sized Canadian businesses across a wide array of industries. In order to qualify for CAARY, a business must:

  • Be registered in Canada (Except Quebec). Have most of your operations and corporate spend in Canada. CAARY waives all international transaction fees
  • Be a corporation and limited liability company (LLCs). Currently, we are not accepting individuals, sole proprietors, and other types of unregistered businesses.
  • Must have at least $100,000 average account balance in the bank account.
  • Must meet at least meet one of the following three requirements to qualify for CAARY Business MasterCard program (all in $CAD):
  1. Minimum annual business revenue of $250,000
  2. A minimum of $400,000 in Assets Under Management (AUM) based on liquid, investable assets with federally regulated financial institutions. AUM cannot include assets that cannot be typically liquidated in a short period of time (i.e., the equity in real estate assets).
  3. Minimum annual credit card spend of $25,000, (i.e., purchases that are eligible for a direct payment through a credit card). Any spend that is typically not directly eligible for credit card-based payment (e.g.  SME’s mortgage payment to a financial institution should not be included in the minimum card spend amount)

What are CAARY's Terms and Conditions?

CAARY has a platform and cardholder agreement, which all applications must agree to before signing up. They can be found here:

In addition, all applications are subject to privacy policies:

Does CAARY charge foreign transaction fees?

Nope, CAARY does not charge any foreign transaction fees!


What type of card is CAARY?

CAARY is a credit card powered by the Mastercard network for Businesses.

With CAARY, administrators can issue unlimited virtual and physical cards, each with their own limits and embedded controls. For more information on CAARY cards, continue reading here.

How do I use my CAARY card?

  • CAARY users can use their cards with any of the millions of merchants that accept Mastercard around the world and online. 
  • Monitor your card limits to know how much you have left to spend.
  • CAARY cards (both virtual and physical) work with Apple Pay and Google Pay.
  • After account creation you can start spending immediately if you’ve been invited with virtual card(s).

What's the difference between virtual and physical cards?

Virtual cards can be used for any digital purchases such as advertising, online purchases, SaaS, etc. They are safer than physical cards and easier to manage. Physical cards can be used for all purchases, including in-store. You can pick which card to issue to employees anytime.

Will my CAARY card work internationally?

CAARY cards work in most countries outside of Canada, including the United States, Mexico, and countries in Europe. CAARY has real time fraud monitoring in place that will alert you if any transactions are not expected so that you can review and approve these transactions easily.
The countries that are not supported include Belarus, Central African Republic, Congo Democratic Republic, Iran, Iraq, Lebanon, Libya, Mali, Myanmar (Burma), Nicaragua, North Korea, Russian Federation, Somalia, South Sudan, Sudan, Syria, Tunisia, Ukraine1, Venezuela, Yemen, Zimbabwe.  Any transactions made in these countries will be declined.

How can I control spend on a CAARY card?

CAARY allows you to issue cards with custom spend limits that automatically enforce your company’s policies and control what merchants can charge.

When issuing either a virtual or physical card, you can choose a date in the future in which the card will stop accepting transactions, perfect for 7-day trip or a month-long software trial.

I forgot my password and can’t sign in
You can reset your password by clicking the “Trouble Signing in?” button on This will send you an email to reset your password.

What are the types of user roles on CAARY?

1. Admins

Admins are the super-users of CAARY. They are accountable for managing business-level considerations for your company’s CAARY account. As a result, Admins have access to CAARY’s full capabilities and controls, and are responsible for:

  1. Set-Up: Setting up company-wide controls for CAARY, which includes linking company bank accounts, setting up auto-pay, inviting new team members, applying monitoring controls on the business level, and more.
  2. Card & User Management: Inviting new team members to be CAARY users, setting individual limits, monitoring balances and transactions.
  3. Accounting: Customizing CAARY to match the company’s existing accounting structure, integrating accounting software with CAARY, viewing statement history.
  4. Savings: Redeeming earned cash back, accessing savings insights and our partner reward program.

While there are no restrictions with the number of CAARY Admins you can invite to your business, we recommend proceeding with care. With great power, comes great responsibility.

2. Employees / Users

Employees are all other company employees who can make purchases through their individual CAARY cards. Each Employee can be issued physical or virtual cards, or request cards. Each Employee also gains access to their individual CAARY dashboard, where they can view their cards, associated monthly limits and current balance. Employees can text or email receipts and memos to CAARY which are automatically matched to the right transaction.

Is there a limit on the number of users?
There is no limit to how many users can be associated with a company on CAARY.

Savings & Rewards

How can I use my cash back?

Cash back can be redeemed on your company Admin’s CAARY dashboard. Admins are able to view your company’s earned cash back and redeemed cash back amounts in every statement.

How is the cash back calculated?

Your CAARY Mastercard Credit Card earns you 1.5 points per dollar of purchase transactions. These reward points are stored in your CAARY account, which can be redeemed as cash back against your monthly statement. Each reward point is worth one cent.  CAARY’s calculation is that simple, no tricks or conditions.

Your company’s earned reward points will accumulate each month as a balance until your company’s Admin decides to redeem the cash back. Earned reward points and Redeemed cash back amounts can be viewed in every statement.

Security & Fraud

Is CAARY secure?

At CAARY, we take security and protection of your data very seriously. We achieve this goal through a multitude of approaches:

Multi Factor Authentication
CAARY leverages automated systems to proactively prevent account takeover attempts and other malicious requests. We require all accounts to opt into multi factor authentication and immediately verify suspicious activity with the business owner.

All data is transmitted with encryption-in-transit using HTTPS or similar protocols. Furthermore, all data is securely stored with encryption-at-rest using AES-256 or higher standards. Where possible within databases, we also leverage in-field encryption to protect particularly sensitive data.

CAARY uses tokenization to protect your card and CVV numbers.

PIPEDA – The Personal Information Protection and Electronic Documents Act (PIPEDA) is Canada’s main federal law relating to privacy in the private sector. It covers personal information collected, used or disclosed while carrying out commercial activities.

PCI-DSS compliant – CAARY is PCI-DSS compliant. We keep your card numbers and other sensitive information extremely safe.

Least Privileges and Audit Logging
As standard best practice, we adhere to the notion of least privileges, whereby only a small subset of personnel have the means to view your data, and only when needed to support you. Naturally, all data access is logged and monitored for audit purposes too.

Penetration Testing
CAARY continuously undergoes automated penetration testing to check for any vulnerabilities in our infrastructure. The tests are augmented by manual “business logic assessment” reviews on a periodic cadence.

External Auditing
On an annual basis, CAARY is audited by a large external firm to ensure we continue to meet and exceed the requirements of SOC 2, a compliance standard. We ensure that all of our partners have current SOC 2 reports too.

WAF and DDoS Protection
CAARY uses an industry leading firewall provider to protect against distributed denial-of-service (DDoS) attacks and attempted intrusions into our systems. We also block certain countries and enforce rate limiting to prevent against brute-force attacks.

Trusted Third Parties
When we need to leverage third-parties to help provide service to you (i.e. with bank account linking, leveraging Flinks), we verify that they have adopted equally stringent security protocols. Our legal officer ensures we have a comprehensive contract in place and our security team further approves any engagement.

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