Malaysia Airlines has announced a new Visa prepaid card under its Enrich programme called the EnrichMoney card. Just like AirAsia’s BigPay, EnrichMoney’s card is tied to the balance in the e-wallet that you’ll need to sign up for on the app, and it offers competitive exchange rates for travellers to spend overseas directly using the card.
The Visa prepaid card is powered by Merchantrade Asia and includes a multi-currency e-wallet where you can buy, sell, and hold up to 20 different currencies. Malaysia Airlines promises that the card will offer the best exchange rates with no fees on overseas transactions, alongside the ability to lock or limit spending for security and impulse control.
To get the card, you’ll need to download the EnrichMoney app and sign up using an Enrich account, which you can register for if you don’t already have one. You’ll then have to verify yourself using your IC or passport and a selfie.
There is a minimum reload amount of RM100 when you first sign up, although a RM10 issuance fee and RM20 refundable deposit (which you’ll get back if you cancel the card) will be deducted from your balance, leaving you with RM70. The airline says you’ll receive your EnrichMoney Visa prepaid card within five to seven working days.
Initially, users are limited to a total cumulative value of RM10,000 on their e-wallet, but the limit can be increased in the settings if the user has at least six months of active transactions and an average balance of RM500. To top-up, you can use online banking, debit card, Maybank cash deposit machines, or even go through Merchantrade branches.
If there isn’t enough balance for the currency that you want to use during your transaction, it will automatically deduct the balance from the other currencies in your e-wallet at the conversion rate set by Visa. To withdraw cash, you can go to Merchantrade branches or use any ATM with the Visa Plus logo.
Card users can earn EnrichMoney Points when they spend a minimum of RM20 using the card for qualifying retail and online purchases (not including in-app spending) that can be redeemed for a purchase post-transaction. You can also convert Enrich Points to EnrichMoney Points but unfortunately, you can’t do it the other way around.
To commemorate the launch, the first 10,000 members to successfully sign up for EnrichMoney will receive a welcome reward of 1,000 Enrich Points and a complimentary Malaysia Airlines Golden Lounge Access e-Voucher. On top of that, the first 1,000 users who spend a minimum of RM3,000 will receive a RM50 MHgiftcard, while the top three spenders will each win 50,000 Bonus Enrich Points.
(Source: Malaysia Airlines [1][2])
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