2.5% Conversion fee kills the whole reason for this card.
Let's not forget that the Amazon.ca card also nets 1% cash back
So you are already in the hole 3.5%
Activation fee $5.95
$3000 daily spend limit? Hotel bills and dive tabs can easily exceed $3K.
The ATM fee's I'm not sure about but they do seem high.
If you want security simply carry multiple credit card types (V, MC ,AMEX). I would guess this is the main reason for the card?