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Merchantrade APK Download: A Guide to the Multi-Currency E-Wallet
If you are looking for a convenient and affordable way to manage your money in multiple currencies, you might want to check out Merchantrade. Merchantrade is a multi-currency e-wallet and prepaid card that lets you buy, store, sell, and spend up to 20 foreign currencies at great rates. Whether you are travelling, shopping online, or sending money overseas, Merchantrade can help you save time and money with its features and benefits.
In this article, we will show you how to download and install the Merchantrade APK, which is the Android version of the app. We will also guide you on how to use the app and its functions, as well as share some reviews and alternatives of Merchantrade. By the end of this article, you will have a better idea of whether Merchantrade is the right e-wallet for you.
How to Download and Install the Merchantrade APK
If you are an Android user, you can download the Merchantrade APK from the official website or from Google Play Store. Here are the steps to follow:
- Go to www.merchantrademoney.com or Google Play Store and search for Merchantrade Money.
- Click on Download or Install and wait for the file to be downloaded.
- Once the download is complete, open the file and follow the instructions to install the app on your device.
- Launch the app and sign up for an account using your email address or phone number.
- You will need to provide some personal information such as your name, IC number, address, etc. You will also need to upload a photo of your IC and a selfie for verification purposes.
- Once your account is verified, you will receive an SMS with a PIN code. Enter the PIN code in the app to activate your account.
- You can now start using your e-wallet and request for a physical card if you want.
How to Use the Merchantrade App
Now that you have downloaded and installed the Merchantrade app, you can enjoy its features and benefits. Here are some of the things you can do with the app:
How to top up your e-wallet and buy or sell currencies
You can top up your e-wallet anytime via FPX (online banking) or your debit card. You can also visit a Merchantrade branch or agent to top up using cash. Once you have funds in your e-wallet, you can buy or sell up to 20 foreign currencies at no conversion fees. You can also set rate alerts to notify you when it’s the best time to buy or sell. You can lock-in exchange rates to protect yourself against currency fluctuations.
How to pay with your Merchantrade card or app
You can use your Merchantrade card or app to pay anywhere in foreign currencies at locked-in rates with no mark-ups or transaction fees. You can also withdraw money from ATMs worldwide or over-the-counter at Merchantrade branches. You can use your card for contactless payments, online transactions, overseas retail payments, and payWave. You can manage your card functions by enabling or disabling them from within the app. You can also freeze or unfreeze your card if you lose it or suspect any fraud.
How to send money overseas or locally
You can use your Merchantrade app to send money to over 200 countries and territories with low fees and competitive rates. You can choose from various delivery options such as bank account, cash pick-up, mobile wallet, or home delivery. You can also send money locally to other Merchantrade users or bank accounts via DuitNow or IBG. You can track your transactions and get notifications on the status of your transfers.
How to access other services and features
Besides the main functions of the e-wallet and card, you can also access other services and features from the Merchantrade app. Some of them are:
- Merchantrade Insure: You can buy travel insurance plans that cover medical expenses, personal accidents, trip cancellations, baggage loss, and more.
- Merchantrade Biz: You can apply for a business account that allows you to manage your cash flow, pay suppliers, receive payments, and access other business solutions.
- Merchantrade Rewards: You can earn points for every transaction you make with your e-wallet or card and redeem them for vouchers, cashback, or donations.
- Merchantrade Deals: You can enjoy exclusive discounts and offers from various merchants and partners when you pay with your e-wallet or card.
Merchantrade App Reviews and Alternatives
Merchantrade is one of the most popular multi-currency e-wallets in Malaysia, with over 1 million users and 4.5 stars rating on Google Play Store. However, it is not perfect and it may not suit everyone’s needs. Here are some of the pros and cons of using Merchantrade:
Pros
- It offers competitive exchange rates and low fees for currency conversion, payments, and transfers.
- It supports up to 20 foreign currencies and allows you to lock-in rates to avoid fluctuations.
- It provides a physical card that can be used for contactless payments, online transactions, overseas retail payments, and payWave.
- It has a user-friendly app that lets you manage your e-wallet and card functions easily.
- It has a wide network of branches, agents, and partners that offer convenient top-up and withdrawal options.
- It has a range of other services and features such as travel insurance, business account, rewards program, and deals.
Cons
- It requires verification of your identity and address before you can use the app fully.
- It has a monthly limit of RM10,000 for your e-wallet balance and transactions.
- It charges a monthly fee of RM2.50 for your physical card if you do not use it for more than 6 months.
- It does not support cryptocurrencies or digital assets.
- It may not have the best customer service or technical support according to some user reviews.
If you are looking for alternatives to Merchantrade, you may want to consider some of these options:
| Name | Description |
|---|---|
| BigPay | A multi-currency e-wallet and prepaid card that supports 10 foreign currencies and offers low fees for currency conversion, payments, and transfers. It also has features such as budgeting tools, expense tracking, analytics, insurance plans, etc. |
| TransferWise | A multi-currency account and debit card that supports over 50 foreign currencies and offers real exchange rates and low fees for currency conversion, payments, and transfers. It also has features such as savings pots, direct debits, bill payments, etc. |
| Revolut | A multi-currency account and debit card that supports over 150 foreign currencies and offers real exchange rates and low fees for currency conversion, payments, and transfers. It also has features such as budgeting tools, expense tracking, analytics, savings vaults, crypto trading, etc. |
| Wirex | A multi-currency account and debit card that supports over 20 traditional currencies and 18 cryptocurrencies and offers real exchange rates and low fees for currency conversion, payments, and transfers. It also has features such as crypto rewards program, crypto trading platform, etc. |