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I don't believe so. Telus does offer an add-on of 250MB + unlimited texting for $20, but that seems to be it for prepaid. At the moment they have a promo of unlimited data for a month if you get this add-on. The offer expires in the new year, which might mean new data options will be available then.
 

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1 HSPA Prepaid clients will have access to voice and text services only at this time. HSPA Prepaid clients will not have access to data services, such as MMS, web browsing, email or downloads such as ringtones, games and images at this time.
From the fine print here. I'd give Telus a call and see what they say, this may be out of date.
 

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Messaging should never stop working as it's unlimited with that plan. The only way it will stop is if you have it set to deduct the add-on cost from your balance and you don't have enough balance. In that case you would probably get a warning text from Telus.

I'd recommend you set up the data/messaging add-on cost to be charged monthly to your credit card. You can also set up minimum balance top ups, so that you're automatically billed for a top up whenever your balance reaches below a certain point, that way you'll always have enough.

I'm not sure about data overage, since they don't list any pay-per use data for prepaid. I'd like to say it will probably just stop, but I think it's more likely that it will just continue at some obscenely high rate. If you're lucky it's the same $.50/MB of the 100MB monthly plan, but I wouldn't be surprised if it's the same $3/MB for first 5 MB and $1/MB for each additional MB (with billing by the MB, not KB) as monthly pay-per use.

Of course it could be worse, it could be the flat rate $30/MB they charge BlackBerry users...
 
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