Open A Bank Account From Your eWallet

Hybrid Wallet is a product collaboration between Merchantrade Money eWallet and AmBank Islamic which allows Merchantrade Money users to open a Hybrid Current Account-i and have a larger combined wallet limit of up to RM50,000.

The hCA-i is a savings feature that is linked to the Merchantrade Money eWallet with a limit of up to RM30K or RM40K. It is a deposit product from which you can open an account conveniently, only from the Merchantrade Money eWallet.

Merchantrade Money customers can enjoy a larger combined limit of RM50K.

hCA-i is a deposit product based on Shariah contract of Commodity Murabahah with profit rate of 0.50% p.a. (subject to changes) on end-of-day balances. The profit will be credited at the end of the month.

hCA-i is protected by Malaysia Deposit Insurance Corporation (PIDM) at up to RM250,000 for each depositor

hCA-i is offered to Malaysian and Non-Malaysian Merchantrade Money eWallet users (with RM10K or RM20K wallet size) aged 18 years and above. Subject to terms and conditions.

Users can apply for the hCA-i in the Merchantrade Money mobile app.

Yes, as long as you have completed the face-to-face verification at any Merchantrade branch when you applied for the Merchantrade Money eWallet.

To understand the product better, please refer to the Product Disclosure Sheet for Hybrid Current Account-i MM/hCA-i/08/2022

You must understand and accept the following terms and conditions prior to application:

• AmBank General Terms & Conditions for Accounts and Services
• Hybrid Wallet Additional Terms & Conditions
• Specific Terms & Conditions for Hybrid Current Account-i

As per regulatory requirements, you have to declare the following:

• FATCA & CRS Declaration
• AmBank Group Anti-Bribery And Corruption Declaration

hCA-i is applying Commodity Murabahah contract under Tawarruq arrangement, where you shall appoint AmBank Islamic as an agent to perform Commodity Murabahah trading in facilitating Shariah compliant transaction as per Appointment Of Agent (AOA) For Islamic Account

The account application will take 2 working days, subject to AmBank Islamic terms and conditions.

You’ll be notified in the Merchantrade Money app through a push notification and an SMS notification from AmBank once the application is successful.

Inbound and outbound fund transfers to and from the AmBank hCA-i is from the Merchantrade Money eWallet only.

If you top-up more than your eWallet size, the remaining value will auto-load into the AmBank hCA-i.

You can transfer immediately once the account is created. The profit rate is 0.50% p.a. (subject to changes) on end-of-day balance in hCA-i. The daily accrued profit will be credited at the end of the month.

No. Transactions will be carried out via the Merchantrade Money VISA Prepaid Card and Merchantrade Money eWallet.

The maximum balance for the AmBank hCA-i depends on your Merchantrade Money eWallet limit,
either RM10k or RM20k.

The maximum combined limit for both MM eWallet and hCA-i does not exceed RM50k.

No. You are not allowed to deposit any amount that exceeds the combined balance amount of RM50K

The hCA-i limit will be changed from RM40K to RM30K. Please refer to Question #13. The maximum overall limit cannot exceed RM50K.

AmBank will transfer the excess amount of RM10K from customer’s hCA-i into Merchantrade Money eWallet, where RM30K will be in hCA-i and RM20K will be in Merchantrade Money eWallet.

This feature enables you to auto top-up your Merchantrade Money eWallet from AmBank hCA-i (specific amount, subject to available balance in hCA-i) whenever your eWallet balance falls below the threshold limit.

Yes, you are allowed to set/maintain your own threshold limit, auto top-up amount or disable the auto top-up feature in Card Settings.

All payments will first be deducted from the eWallet.

If there is insufficient balance in the eWallet, it will then deduct from the AmBank hCA-i for the remaining amount, subject to available balance (this only applies if the AmBank hCA-i usage is enabled by default).

You can check the AmBank hCA-i balance in the app. On the Home Screen, click Tap to open.

You can view your latest transactions in Recent Transactions and can also download the monthly AmBank hCA-i statement in the app.

This feature is currently not available.

You can request to close the hCA-i in the Merchantrade Money eWallet. The hCA-i will be immediately closed.

Note: Do take note that you can only re-apply for the hCA-i 6 months after the account closure request date

Yes, you can close the account from the app anytime. Please take note there will be a 6 month
waiting period to re-apply.

You can close the account in the mobile app in Card Settings > Upsize Wallet > AmBank Account (toggle OFF).

The balance from the account (inclusive of accrued profit-to-date) will be transferred to your eWallet after the account has been closed.

Note: Do take note that you can only re-apply for the hCA-i 6 months after the account closure request date.

No additional fees will be charged.

The dormant policy will follow MM eWallet dormancy policy and the deactivation of dormant hCA-i can be initiated via the MM App.

No. All transactions are done in the Merchantrade Money app.