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 Merchantrade money VISA, Multi Currency Wallet

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TSlkwah86
post Apr 16 2019, 10:54 AM, updated 4y ago

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Anyone using this Merchantrade money VISA prepaid card? Signed up when visited MATTA fair.

https://www.merchantrademoney.com

The benefit of this wallet is you can buy the foreign currencies with cheaper rate before you going to oversea and spend.


Promotion:
https://www.merchantrademoney.com/news-promotions/


What is a Multi-Currency Wallet?
A Multi-currency wallet is one of the features of the Merchantrade Money VISA Prepaid Card where you can pre-load up to 20 different foreign currencies. The available foreign currencies are US Dollar (USD), Singapore Dollar (SGD), British Pound (GBP), Australia Dollar (AUD), Indonesia Rupiah (IDR), Euro (EUR), Thai Baht (THB), Japanese Yen (YEN), Saudi Riyal (SAR), Chinese Renminbi (CNY), New Taiwan Dollar (TWD), Hong Kong Dollar (HKD), South Korean Won (KRW), Indian Rupee (INR), Philippines Peso (PHP), Canadian Dollar (CAD), New Zealand Dollar (NZD), United Arab Emirates Dirham (AED), Swiss Franc (CHF) and Vietnamese Dong (VND). The default currency is Ringgit Malaysia (MYR). This feature allows you to pay in the local currency of the country you are visiting, as long as you have pre-loaded your card with sufficient funds before travelling abroad or shopping online.

You can exchange MYR with the listed 20 foreign currencies or exchange any of the listed 20 foreign currencies to MYR via Mobile Application and Web Portal.
The foreign exchange rates can be found in Mobile Application and Web Portal.

The maximum amount you can exchange and store will be based on your card’s overall wallet size in Ringgit Malaysia (MYR). The total cumulative value of your multi-currency wallets must not exceed your card’s overall wallet size in Ringgit Malaysia. Transactions made in any of the 20 listed foreign currencies supported by Merchantrade Money VISA Prepaid Card but with insufficient available balance, the value of the transaction will be processed using respective Listed Currency Wallet(s) in the following order of priority: MYR, USD, SGD, GBP, AUD, IDR, EUR, THB, YEN, SAR, CNY, TWD, HKD, KRW, INR, PHP, CAD, NZD, AED, CHF and VND at conversion rate set by VISA international. The number of listed currencies available may vary from time to time.

What are the benefits of the Card?
Benefits include the following:
a) Enjoy peace-of-mind of not having to carry physical cash, especially when you shop or travel overseas.

b) Convenience in making payments for goods and services at more than 120,000* VISA merchant in Malaysia and 46 million* VISA merchant locations worldwide.

c) Cash withdrawals at Merchantrade branches, participating agents as well as more than 11,000* VISA Plus ATMs in Malaysia and more than 2.5 million* worldwide.

d) Access to a range of services 24 hours a day including convenient management of your funds through Merchantrade Money web service.

e) No hidden forex or cross-currency charges for the listed currency wallet(s) if Cardholder makes payment for overseas purchases using their stored corresponding foreign currencies in the wallet.
(*Note: The figures shown are approximate as at June 2018 and may vary from time to time).

This post has been edited by lkwah86: Apr 16 2019, 11:04 AM
SUSDavid83
post Apr 16 2019, 10:55 AM

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Not a frequent traveler?
Anything better besides that?
TSlkwah86
post Apr 16 2019, 11:02 AM

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QUOTE(David83 @ Apr 16 2019, 10:55 AM)
Not a frequent traveler?
Anything better besides that?
*
I signed up because it has promotion 50% cashback for the first spend at that time.

I think this card good for travelers. Besides that, I seldom using this card.
digimon09
post Apr 16 2019, 01:42 PM

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Just cancel my card last month. Donno what to do with this card... haha
ajay67
post Apr 20 2019, 07:22 AM

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Just got the card last week. Not enough info though.
Planning to use it on my next oversea trips
kaiserreich
post Apr 21 2019, 09:48 PM

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Nice offer
Why is it nice?

This rebate is based on MCC code. You can use agoda/booking.com voucher and get additional rebates.
TSlkwah86
post Apr 26 2019, 07:45 AM

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QUOTE(ajay67 @ Apr 20 2019, 07:22 AM)
Just got the card last week. Not enough info though.
Planning to use it on my next oversea trips
*
You can start to check the currency rate, buy it when you think is good rate.
Can set rate alert in the app.
MGM
post May 2 2019, 06:56 AM

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Can reload with any credit card?
xperiaDROID
post May 3 2019, 04:26 PM

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Basically a prepaid card like Bigpay...

Aside from traveling purposes, you can also use it as usual like a normal prepaid card for daily cashless payments.

This post has been edited by xperiaDROID: May 3 2019, 04:26 PM
TSlkwah86
post May 4 2019, 01:19 PM

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QUOTE(MGM @ May 2 2019, 06:56 AM)
Can reload with any credit card?
*
Cannot
ajay67
post May 6 2019, 11:59 AM

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QUOTE(lkwah86 @ Apr 26 2019, 07:45 AM)
You can start to check the currency rate, buy it when you think is good rate.
Can set rate alert in the app.
*
i have set the rate but donno why it send alert eventhough not reach the set rate
TSlkwah86
post May 6 2019, 06:19 PM

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QUOTE(ajay67 @ May 6 2019, 11:59 AM)
i have set the rate but donno why it send alert eventhough not reach the set rate
*
yaya, bugs may be... need to tell the developer
kaiserreich
post May 8 2019, 10:27 AM

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Not a bad promo if you can hit minimim RM100 swipe

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80ers
post May 8 2019, 11:21 AM

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looks like a good prepaid card, can just register online?
TSlkwah86
post May 8 2019, 01:15 PM

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QUOTE(80ers @ May 8 2019, 11:21 AM)
looks like a good prepaid card, can just register online?
*
1) Register online or via the Merchantrade Money app.
2) Verify your identity with your Malaysian NRIC/PR and a ‘selfie’.
3) Top up with any Malaysian online bank account (FPX).
4) Receive your card at your doorstep within 5-7 days.
5) Activate your card online or via Merchantrade Money app.
ajay67
post May 13 2019, 06:41 AM

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QUOTE(80ers @ May 8 2019, 11:21 AM)
looks like a good prepaid card, can just register online?
*
Can..except for the multi currency function which u still need to visit branch to activate.
Reventon
post Jun 8 2019, 02:55 AM

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QUOTE(ajay67 @ May 13 2019, 06:41 AM)
Can..except for the multi currency function which u still need to visit branch to activate.
*
Yeah , i think its better to go their branch directly to apply for the card and get it on the spot with MCA activated as well.
I apply thru the app and still go to their branch to activate it.
I buy some currency and keep it when the rate is good.
Too bad the limit set by BNM is 10k for each prepaid card.

estcin
post Jun 17 2019, 11:04 AM

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Anyone used this card and how are the rates compared to BigPay?
ajay67
post Jun 17 2019, 11:58 AM

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QUOTE(estcin @ Jun 17 2019, 11:04 AM)
Anyone used this card and how are the rates compared to BigPay?
*
different way of converting. for bigpay, u only convert when purchase, & will only know the conversion rate at that time. for merchantrade, u can convert earlier to foreign currency. so u can choose to convert when the rate is low. u can check the rate on the apps before converting.
estcin
post Jun 17 2019, 12:16 PM

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QUOTE(ajay67 @ Jun 17 2019, 11:58 AM)
different way of converting. for bigpay, u only convert when purchase, & will only know the conversion rate at that time. for merchantrade, u can convert earlier to foreign currency. so u can choose to convert when the rate is low. u can check the rate on the apps before converting.
*
Noted. thanks for the info

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