Accessibility & Settings

Accessibility & Settings


Kenanga Money FAQS

Get Started with Kenanga Money
What is Kenanga Money?

Kenanga Money is Malaysia’s First Stockbroking e-Wallet, supported by a VISA prepaid card feature that enables you to easily transfer funds from your Kenanga stocktrading / trust account into a secure multi-functional e-wallet.

Kenanga Money is powered by Merchantrade Asia Sdn Bhd (Merchantrade), Malaysia’s leading fintech and e-money player, and the country’s largest Money Services Business operator.

What is Kenanga Money VISA Prepaid Card?

Kenanga Money VISA Prepaid Card (hereinafter “Card”) is an electronic money (e-money) payment instrument issued by Merchantrade that contains monetary value that is paid in advance (top-up) by the Cardholder to enable payments for purchases, which carries the VISA payment features.

The value will be deducted from the Card whenever retail or withdrawal transactions are made and spending is limited to the amount of money stored in the Card at the time of transaction. You are required to pre-load the card before making any transactions.

Merchantrade as the e-money issuer shall remain liable to all Cardholder(s) on all e-money issued.

Sign-Up & Activation
How do I sign up for Kenanga Money?

If you’re already have a Kenanga stocktrading account, you can download Kenanga Money on Google Play or App Store. Sign-up only takes 5 minutes with hassle-free in-app e-KYC procedure.

TIP! Sign-up using your personal particular as per your Kenanga stocktrading account. Can’t remember your personal particular for your Kenanga stocktrading account? Don’t worry, email to [email protected] to access your information.

First time with Kenanga / if you’re an existing Kenanga client but do not own a Kenanga stocktrading / trust account, you’ll need to open a stocktrading account to sign-up for Kenanga Money.


Can I sign-up Kenanga Money?

    To apply for Kenanga Money, you’ll need to meet the following requirements:
  • Be a Malaysian citizen and / or Malaysia permanent resident with NRIC only;
  • Be 18 years or older; and
  • Have an active equity trading account with Kenanga Investment Bank Berhad.

Is there a minimum fee to sign-up Kenanga Money?

    Yes. As part of the sign-up process, an initial top-up of minimum RM100.00 is required. The breakdown of the fee structure as below.
  • RM10:00: Card Issuance Fees
  • RM10:00: Annual Fee
  • RM20.00: Refundable deposit (when you cancel the card)
  • RM60:00: Remaining balance that ready to spend!

How long does it take to activate my account?

As soon as your in-app e-KYC is successful and the initial top-up (as per Q3 above) is completed, your account is fully activated.

Are there any other fees that I should be aware off?

Yes, there is an annual fee of RM10 per annum (Effective 1st June 2023).

When will my card arrive?

Within 5 – 7 working days (by post or courier).

How do I activate my card?

    Login to your Kenanga Money.
  1. Go to Card Settings
  2. Select New Card Activation.
  3. Enter the last 4-digit Card Number.
  4. Enter the last 4-digit of your IC Number.
  5. Set your 6-digit card PIN and your card is activated.

Kenanga Money App & Features
E-Wallet Size

  • What is the Kenanga Money e-Wallet size?
    RM10,000.00 (RM9,980.00 to be exact as RM20.00 as your card deposit).
  • Can I upgrade my e-Wallet size?
    Yes, you can upgrade up to a max RM20,000.00 (RM19,980.00 to be exact as RM20.00 as your card deposit). This will be a digital convenience and flexibility to allow you to store more in converted currencies, enabling larger purchases and payments of goods and services.
  • How do I upgrade my e-Wallet size? Is it an automated upgrade?
      No, it is not an automatic upgrade as you need to fulfill 2 criteria:
    1. You must have a minimum of 6 months active transaction history
    2. An average e-wallet balance of RM500.00.

    To upgrade, go the “Card Settings” in your Kenanga Money app, you will notice the “Upgrade Wallet” function, click on it and select “Upgrade to MYR20,000”.
  • How will I know if my upgrade is successful?
    You’ll be notified via push notification on your mobile / SMS within 48 hours. Alternatively, you can also check In-app under your profile for your newly approved limit.
  • Will there be any fees imposed for this upgrade?
    No additional fees will be charged. Same terms and conditions apply.

Multi-Currency Wallet

  • What is a Multi- Currency Wallet?
    The Multi-currency wallet enables you to buy and sell up to 20 currencies in-app anytime, anywhere. This enables you to lock-in the exchange rates and protect yourself against currency fluctuations. Cash loaded in your account does not expire.

    The default currency is Ringgit Malaysia (MYR).
  • What are the 20 currencies available?
    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).
  • Where do I find the daily exchange rate?
    You can check the exchange rate in your Kenanga Money app. Open your Kenanga Money > Click Multi Currency icon (insert icon) on your landing page > Today’s Exchange Rate

    Alternatively, you can check out the competitive rates at
  • What’s the maximum amount I can buy and sell as well as store?
    It is based on your 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.

    To upgrade your wallet size, refer to E-Wallet size?

Send / Pay

  • What is send / pay?
    Basically, it is an app to app real-time transactions. You can send (Card-To-Card) or request money using your Kenanga Money.
  • How to send / request from one Kenanga Money account to another
    Kenanga Money checks your smartphone’s contact list and finds other Kenanga Money users based on saved phone numbers. You can also enter someone’s contact details manually to send / request money.

Scan & Pay

Not applicable currently but you can use your card to make transaction.

About Kenanga Money VISA Prepaid Card (Card)

IMPORTANT: For Customer Notice, visit HERE

How does the Card works?

Your card needs to be preloaded with funds at via your Kenanga stocktrading account Trading or via internet banking. For more top-up method refer to below.

Once funds are loaded onto the Card, it can then be used to purchase goods and services at VISA merchants and to perform cash withdrawals at Merchantrade branches, participating agents and at VISA Plus ATMs in Malaysia and worldwide. The transaction amount will be immediately deducted from the Cardholder’s Card Account Balance.

Where can I use my Card?

You can use your Kenanga Money Card anywhere that accepts VISA. There are more than 120,000* VISA merchant in Malaysia and 46 million* VISA merchant locations worldwide.

Can I make cash withdrawals with the Card? Is there a withdrawal fee?

Yes, you can make cash withdrawals with the Card at Merchantrade branches, participating agents as well as more than 11,000* VISA Plus ATMs in Malaysia and more than 2.5 million* worldwide.

Withdrawal fees apply. Refer to our Product Disclosure Sheet for cash withdrawal charges.

Can I use my card when I travel abroad? Is there a fee or an exchange rate?

Yes, you can use your card when you travel abroad.

There will be 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. You will 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.

Transactions made in any of the 20 listed foreign currencies supported by the 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 if my card is lost or stolen?

You must immediately block your Card via Kenanga Money App or by contacting Merchantrade Customer Service Helpdesk at +603 8313 8606 or +603 8318 8606

If I cancel my Card, what happens to my Card Account Balance?

Upon cancellation, the balance in the Card Account will be refunded to the Cardholder after deduction of any applicable charges, within 15 Business Days after the cancellation. However, the Cardholder is still liable for all transactions that have been made with the Card prior to cancellation.

How do I change my card PIN?

You can do this in-app. Go to Card Settings, select “Change Card Pin” and enter your new 6-digit pin.

Payments & Withdrawals
Balance & Limits
How to top up my account?

    Once you are successfully verified, you’ll be able to top up your account in several ways. To do so, simply go the Kenanga Money app and select ‘Top-up Money’ to see the available options:
  • Online Top-up (via Kenanga Trading Account and / or Internet Banking)
  • Debit Card Top-up
  • Cash in from Western Union

Alternatively, you can perform your top-up at Merchantrade branches, participating agents as well as Maybank Cash Deposit Machines.

Is there a fee for my top-up?

You can enjoy a zero-fee top-up via Kenanga Trading Account. For other top-up method, please refer to our Product Disclosure Sheet for specific charges (if applicable).

How to get a statement?

You can view your monthly e-statement via Kenanga Money app.

What is the maximum I can spend?

The daily limits refer to the past 24 hours (not the calendar day). Refer to the details at Here.

Contactless payments on your Card up to RM250 daily (either singly or aggregate). For amounts over RM250, you’ll need to enter your card PIN.

Cards & Online Payments
How does 3D secure works?

All transactions performed using the Card are secured either through One-Time-PIN (OTP) for online transactions that use 3D-Secure or Personal-Identification-Number (PIN) for Card terminal chip-reader transactions and ATM transactions. For contactless mode of Transactions by way of Contactless Reader, a single or cumulative daily purchases amount of RM250 can be transacted on the Card.)

I didn't receive my OTP? What do I do?

Contact Merchantrade Customer Service Helpdesk at 1-300-88-8606

How does contactless payment work?

    To activate contactless payments, make your first purchase using Chip & PIN or use it at an ATM. If you’re experiencing issues with contactless payments:
  • Check if contactless payments are enabled in your card settings.
  • If your card is new, be sure that you used it at an ATM or with Chip & PIN.
  • Contactless payments on your Card up to RM250 daily (either singly or aggregate). For amounts over RM250, you’ll need to enter your card PIN.
  • Ask the merchant if the payment terminal actually supports contactless payments.

NOTE: If contactless is not working, please always try to use the Chip & PIN method to complete your payment.

Where can I withdraw cash?

    You can perform cash withdrawals at:
  • Merchantrade branches
  • Participating agents
  • VISA Plus ATMs worldwide

Is there a withdrawal fee imposed for each successful transaction?

A fee of RM1.00 will be impose, if you withdraw at any Merchantrade branches. For other withdrawal method, please refer to our Product Disclosure Sheet for specific charges (if applicable).

More information on how to top-up / withdraw, refer the detailed user guide HERE.

Transaction Dispute?
How can the Cardholder manage the card?

    The Cardholder can use Kenanga Money App to perform the following:
  • View transaction history
  • Retrieve monthly e-statement
  • Block Card
  • Reset Card Pin

About the card pin.

  • What is Chip and PIN?
    Chip and PIN is a PIN-enabled Card that allows you to make purchases at a Point of Sale terminal by keying in a secured 6-digit PIN, without the need of a signature.
  • What is a PIN?
    A PIN is an abbreviation of Personal Identification Number, it is a secret code that is selected by you to prove that you are the rightful owner of the Card. Card PINs in Malaysia have six (6) digits.
  • Which is safer, signing in or PIN?
    PIN is safer as it can help protect against fraud due to lost or stolen Cards, as both the Card and PIN are required to make a transaction. For that reason, you must always ensure that you keep your PIN secret.
  • Is the Card PIN used for making purchases, the same as the PIN used at the ATM?
    Yes. Each PIN-enabled Card has only one (1) PIN that can be used for transactions at the ATM and retail purchases at the Point of Sale terminals.
  • What happens if I enter the wrong PIN?
    If you enter the wrong PIN after three (3) incorrect attempts, your Card will be blocked for security reasons. If your Card has been blocked, contact our Customer Service Help Desk immediately to unblock.
  • What happens if I forget my PIN?
      To avoid unauthorised access, you should immediately lock your Card by either:
    • i) contacting our Customer Service Help Desk; (ii) Mobile Application which provides for “Block Card” under Setting Menu. Simultaneously, you must notify Merchantrade of such compromise to your Card PIN number.
  • What are the ways to keep my PIN secured?
      It is essential that you keep your PIN a secret, so that your Card is protected against fraud as a result of lost or stolen Cards. You must ensure that your PIN is not easy to guess by avoiding numbers that can be associated with you such as significant personal dates (e.g. your birthday or anniversary), telephone number, or driver’s license number. Other measures to keep your PIN safe include:
    • Do not keep a written record of your PIN;
    • Do not allow another person to see your PIN when you enter it;
    • Do not keep your PIN in a form that can be readily identified as a PIN;
    • Do not disclose your PIN to any other person;
    • Do not negligently or recklessly disclose your PIN;

Change your Card PIN using the Kenanga Money and notify Merchantrade immediately if you become aware that your PIN has become known to someone else. Go to Card Settings of the Mobile Application and look for “Change Card PIN”.

For online shopping transactions

    • Passwords
    • Use a hard-to-guess password that contains upper- and lower-case letters, numbers, and symbols
    • Change passwords as often as possible, at least every three months
    • Do not share your passwords or user identification information. A scam may involve email that appears to be from a user’s Internet provider, requesting this information. Internet providers, banks, card issuers and reputable Internet businesses never contact customers to request their password or user name.
    • Never click on any links in email asking for identification information. Contact the institution by phone immediately to report the concern.
    • Keep Impeccable Records
    • Keep records of every Internet purchase and transactions and compare them with card statements monthly. Report any discrepancies immediately to the issuer of your card.
    • Personal Information Protection
    • Do not post your full birth date on social networking sites. Do not post the birth dates of your children, spouse, or significant other.
    • Any information you post online can be hacked or stolen, so try to keep this information to a minimum.
    • Online Shopping Tips
    • Always log out of bank, card issuer and merchant sites after you have completed your transaction.
    • Do not allow your computer to store user names and passwords for merchant or banking websites.
    • Where Not To Shop
    • Do not shop, pay bills or access your bank or card issuer websites using a public Wi-Fi. Shop from home and only over a secured Internet connection.
    • Do not use “easy pay” payment options or “one-click ordering”. It takes a few extra seconds to enter a user name and password on a merchant site but often takes months to recover from online card fraud.
    • Use the most up-to-date version of your Internet browser. They will use the most recent technology to scramble and protect data sent via the Web.
    • Firewalls
    • Always use the most up-to-date version of a strong anti-virus and firewall security programme.
    • Download and apply updates from your virus and firewall programmes when available, to ensure the programmes has the latest information about new scams and hacker tricks.
    • Secure E-Commerce Websites
    • Use secure e-commerce websites that support Verified-by-Visa whenever possible. These 3D-secure sites provide secure online transactions.
    • Secure online transactions should occur only on a website that begins with https://. Do not trust a vendor without the “s” after the “http” at the start of the web address.
    • How to Shop Safely
    • Pay attention when visiting shopping websites. Secure websites will post logo such as Verified-by-Visa (VbV).
    • VbV shopping sites require the cardholder to use a One-Time-Password (OTP) triggered by the card issuer to the cardholder.
    • Anti-Virus Programmes
    • Run virus scans regularly on your computer.
    • Use an ad-blocking software program and a spyware detection programme. Keep these programmes updated and run scams often with them.
    • Email Security
    • If an email, instant message, chat request or Internet site appears suspicious, close your browser and email programs and shut down your computer for a time. When you restart the computer, run a full virus and spyware scan before logging back on to the Internet.

I am currently a Merchantrade Money user and I am also an existing Kenanga client with Kenanga stocktrading account, can I enjoy the same benefit for my Merchantrade Money?

No as both Merchantrade Money and Kenanga Money are 2 different product offering.

Can I transfer my details from Merchantrade Money to Kenanga Money?

No as these are 2 different product offering.

How can I apply for Kenanga Money in this case?

Close your existing Merchantrade Money account before you register with Kenanga Money

Kenanga Money Fees & Limits

Membership Fees
Joining Fees- Personalised Card (with name only) RM 10.00
Annual Fee (Effective 1st June 2023) RM 10.00 p.a.
Card Replacement Fee
Personalised (with name only) RM 10.00
Top-Up Charges
Kenanga Trading / Trust Account FREE FREE
Internet Banking (FPX) FREE
Internet Banking (JomPay) RM 0.50
Debit Card FREE
Merchantrade Branches FREE
Participating Agents RM 1.00
Maybank Cash Deposit Machine RM 0.50
Cash Withdrawal Charges
Merchantrade Branches RM 1.00
Participating Agents RM 1.00
VISA Plus ATMs: Local / Domestic RM 1.50
VISA Plust ATMs: International From RM 10.00
Daily limit top up via KIB trust account- RM 10k
Overseas Transaction Service Fee
All other transactions Subject to currency conversation rate determined by VISA International + 1.75% of transaction amount (Effective 1st June 2023)
VISA Multi-Currency Wallet 0% of transaction amount
Other Fees & Charges
Sales Draft Retrieval Fee RM 15.00 per copy
Hardcopy Statement Fee RM 2.00 per monthly statement
Card-to-Card Transfer Fee FREE until further notice
SMS Notification Charges FREE

* Some ATMs based outside of Malaysia may impose an additional fee for cash withdrawals. If applicable, a notification message will be displayed on ATM screen upon withdrawal.

Please see Product Disclosure Sheet for more info.

Minimum Maximum
Initial top-up* in Kenanga Money App RM 100.00 Up to wallet size**
Subsequent top-ups in-app RM 1.00 Up to wallet size**
Withdrawal at Merchantrade branches RM 1.00 Up to RM 5,000.00
Top-up via Kenanga Trading / Trust Account RM 1.00 Up to wallet size**
Top-up through CIMB Clicks and M2U Subject to the bank’s min. limit Up to wallet size**
FPX, JomPAY & Debit Card RM 1.00 Up to wallet size**
Card-to-Card Transfer RM 1.00 Up to wallet size**
Domestic ATM Cash Withdrawal Subject to ATM’s min. limit Up to RM 5,000.00 per day
Overseas ATM Cash Withdrawal (VISA Plus Network only) Subject to ATM’s min. limit Up to RM5,000 per day (or equivalent in available currencies
Point-of-sale Transaction No minimum Up to wallet size**
E-Commerce No minimum Up to wallet size**

**For all wallet sizes

* Minimum Card Account balance of RM20.00 must be maintained at all times.

Please see Product Disclosure Sheet for more info.