How to Open a Merchantrade Money Account in Malaysia: A Step-by-Step Guide

Looking for a secure and convenient way to manage your money locally and internationally? A Merchantrade Money account is the perfect solution! With a multi-currency wallet and Visa prepaid card, you can travel, send money, shop online, and exchange currencies effortlessly.

In this guide, we’ll show you exactly how to open a Merchantrade Money account online in Malaysia, along with the key benefits you’ll enjoy once your account is activated.

Who can open a Merchantrade Money Account?

Before you begin, ensure you meet the basic eligibility requirements. You’ll need to be:

  • 18 years and above
  • A Malaysian resident or a valid resident in Malaysia.

How to Register for a Merchantrade Money Account Online

The online registration process is simple and can be completed in just a few minutes! Follow these steps:

  1. Download the Merchantrade Money App
  2. Register Your Account
    • Open the app and tap the “Sign Up” button.
    • Enter your personal details: Full Name, Malaysian Mobile Number, Email Address, Mother’s Maiden Name and Referral Code (if any)
  3. Enter OTP
    • You’ll receive an SMS with a one-time-password (OTP) – enter it in the app.
  4. Create a 6-digit App Passcode
    • Create a 6-digit passcode for app access
  5. Create a strong Security Phrase
    • Set a strong, unique security phrase for your account.
    • It must be between 8 – 20 characters.
    • It must contain uppercase, lowercase, numbers & symbols.
    • E.g.: !L0veFlower5
  6. Personalise your card
    • Here you can enter your name as how you’d like it to appear on the card
    • Note: It should be your name. You can choose to have your Full Name appear or just your First Name
  7. Verify Your Identity (e-KYC)
    • You’ll be guided through the e-KYC (Electronic Know Your Customer) process.
    • Have your MyKad (Malaysian Identity Card) or passport ready.
    • Follow the in-app instructions to upload ID and a selfie.
  8. Top-up your account
    • To activate your account, you’ll need to top-up your eWallet
    • Use your own local bank account (third-party bank accounts are not allowed).
    • It must be yours, can’t be someone else’s
    • Follow the in-app instructions to complete your first top-up securely.

How Account Verification Works

Verifying your identity is a crucial step to ensure the security of your account and comply with Bank Negara Malaysia’s regulations. This process helps prevent fraud and ensures that all Merchantrade Money users are verified individuals.

Once your e-KYC is approved, you’ll have full access to your Merchantrade Money account.

Key Merchantrade Money Features

  • Multi-Currency Wallet: Store and manage up to 20 different currencies in one place.
  • Currency Exchange with Locked-in Rates: Convert currencies at competitive rates and lock-in those rates for future use.
  • Merchantrade Money Visa Prepaid Card: Spend globally and locally with your Visa card.
  • International Remittances: Send money to your loved ones abroad quickly and securely.
  • Local Transfers (DuitNow): Easily transfer funds to other Malaysian bank accounts and e-wallets.
  • Bill Payments and Top-Ups: Pay bills and top-up your mobile prepaid.
  • Budgeting Tools: Track and manage your spending with smart financial insights.
  • Secure Transactions: Enjoy secure transactions with advanced security features.
  • 24/7 Support: Access helpful customer support through the app and other channels.

Why Choose Merchantrade Money?

Whether you’re traveling, sending money home, or simply looking for a better way to handle your daily transactions, Merchantrade Money makes your financial transactions easier, secure and more efficient.

With competitive exchange rates, a user-friendly app, and a range of powerful features, Merchantrade Money is the smartest way to manage your money.

 

Get the Merchantrade Money app on the App Store or Google Play today and step into the future of digital finance.