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MiFinity eWallet - Q&A

James
  • Updated

MiFinity eWallet - Q&A

MiFinity is the brains behind your payment needs.

What is Strong Customer Authentication?

Strong Customer Authentication (SCA) under the Second Payment Service Directive (PSD2) is a new European regulatory requirement to reduce fraud and make online payments more secure. This will apply from 14th September 2019. Also being referred to as Two Factor Authentication (2FA), it is based on the use of two or more elements including:

  • Knowledge (something you know – for example your password)
  • Possession (something you have – for example your mobile phone to receive a code)
  • Inherence (something unique to who you are – for example your fingerprint)

 

What does Strong Customer Authentication mean for me?

SCA will apply to you if you are in or using a card from the European Economic Area (EEA) which comprises EU countries plus Iceland, Liechtenstein and Norway. From 14th September 2019 when logging into your MiFinity account or when you carry out a transaction, we may send you an SMS containing a verification code, which you must enter correctly before gaining access to your account or completing the transaction.

When you make a deposit using a debit or credit card, your bank may also require you to authenticate yourself using an additional layer of security called 3D Secure 2

 

Why am I being sent a verification code to my mobile phone?

This is an extra layer of security which helps fight fraud and further protects your online payments. You must have a mobile phone which is able to receive SMS texts.

 

My verification code was sent to the wrong mobile number, what can I do?

Please contact our Client Services team who will assist you in updating your phone number.

Email: clientservices@mifinity.com

Tel: +44 28 9587 0100 (Note English speaking agents are available 9-5pm UK time.)

 

I didn’t receive my verification code, what can I do?

Please check that your mobile number is correct. To do so, log into your MiFinity eWallet, select ‘My Profile’ from the drop-down menu and then click on ‘Personal Details’. If you can’t log in to change this, contact our Client Services team on the email/phone number listed above.

 

I need to update my phone number. How do I do this?

If you need to update your mobile phone number, log into your MiFinity eWallet, select ‘My Profile’ from the drop-down menu and then click on ‘Personal Details’. Enter your new mobile phone number, and we will send you a verification code in order to verify the number. Simply enter the verification code in the box shown within your MiFinity eWallet and the update is complete.

Please note that once the phone number has been updated, you will no longer receive any verification codes to your old mobile phone number. All verification codes will be sent to the updated phone number.

If you are unable to log in to your account to update your mobile phone number, please contact our Client Services team on the email/phone number listed above.

 

I entered the verification code incorrectly and now I’m locked out of my account, what can I do?

Please contact our Client Services team on the email/phone number listed above.

 

It is telling me the verification code is invalid, even though I am entering the correct code. What do I do?

The verification code you are entering may have expired. Each code is valid for a period of five minutes. Please request a new verification code, by clicking ‘Resend Code’ and try again.

 

Why am I being sent a verification code if I don’t live in Europe?

If you are being sent a verification code, you must be using a card that was issued in the European Economic Area. This requires us to apply an extra layer of security to your payment.

This is because of new regulatory changes called Strong Customer Authentication, aimed at increasing the security of online payments, and reducing fraud.

Simply enter the verification code we sent to your mobile phone in the box shown within your MiFinity eWallet, and you will be able to continue with your transaction.

If you did not receive a verification code or require help, please contact our Client Services team on the email/phone number listed above.

 

I received a suspicious message claiming to be from MiFinity. What do I do?

We may contact you to discuss the operation of your account or a payment transaction performed on your account.

In any of our email, phone, or SMS communications we will never ask you for your unique verification code, card or bank details, or transfer money into or out of your account.

If you do receive a text or email claiming to be from MiFinity that you are suspicious of, please do not respond. Report it to Phishing@Mifinity.com.

For more security advice please visit https://www.mifinity.com/security-centre/.

 

Will I be charged to receive the verification code?

This will depend on the Terms and Conditions of the contract you have with your carrier. If you have any questions regarding this, please contact your network provider directly.

 

I am unable to view all my transactions.

Due to PSD2 (Payment Services Directive) regulatory requirements, if you log in with only one factor of authentication (for example username and password only) we are limited to displaying just 90 days’ worth of transactions. When you log in using a verification code, you will be able to view all your transactions by utilising the Transaction Search feature.

 

Which web browsers are recommended for MiFinity?

We recommend the most up-to-date versions of Google Chrome, Mozilla Firefox and Apple Safari.

 

I haven’t received my registration email.

Please check your Junk Mail. It’s also possible that we need some additional information from you. If this is the case, our team will be in touch soon, but you can also email us at clientservices@mifinity.com or use the live chat/email us link found at https://secure.mifinity.com/

 

I have received a registration email but the link is not working.

Please note that our registration links will expire after 24 hours. If you require a new link, please contact us at clientservices@mifinity.com or use the live chat/email us link found at https://secure.mifinity.com/

 

How should I choose a password?

Your Password must be at least 8 characters long and be a combination of upper and lower case characters. It must also include a number or special character.

NEVER share your password with anyone. MiFinity will not have a record of your password and therefore will never ask you to provide it.

 

What questions will I be asked if I get in touch?

We need to be able to verify your identity before we can restore your password or discuss your account. You can expect us to ask a combination of questions ranging from personal information (Address/Nationality/Date of Birth) to details from your security questions.

 

How can I send Money to Friends & Family?

You can make an account to account transfer direct to another MiFinity user if you have their account number or their registered email address. If they don’t have a MiFinity Account, just give us their email address and we will invite them to open an account, and credit them with the funds when they do.

 

I can’t log in to my account

Please contact our Client Services team for support. You can email us at clientservices@mifinity.com or use the live chat/email us link found at https://secure.mifinity.com/

 

How do I change my contact email address?

Please email us at clientservices@mifinity.com or use the live chat/email us link found at https://secure.mifinity.com/

 

How do I add funds to my MiFinity eWallet?

You can add funds to your eWallet in a number of ways. Simply choose the “deposit” option from the menu on the left hand side of your screen or select the eWallet account you wish to fund and choose the “deposit” option from the options provided. You will be invited to load funds using various options such as Card (Visa, MasterCard, UnionPay) and Alternative Payments (local payment options, Bitcoin and Bitcoin Cash).

In order to use local payment options such as Interac you must be set up to perform online bank transfers with your local bank. Just make your choice of method and follow the simple instructions.

The registered card must be in the name of the MiFinity eWallet account holder. Should you wish to discuss the possibility to delete existing cards and add replacement cards within the overall limit of the maximum numbers of cards allowed for your account please contact Client Services at clientservices@mifinity.com. You cannot register a Business bank account on your MiFinity eWallet.

 

Verifying your Credit/Debit Cards

For your card to be fully verified, a 4-digit verification code accompanied by the description “Mifinity UK LTD” will be displayed on your card statement after your first successful deposit. The times will vary depending on your Bank and method used to view your statement, either online or paper hard copy. Once obtained, please follow the next few steps:

  1. Log into your account.
  2. Navigate to your cards list.
  3. Click "Verify" alongside the card you wish to verify.
  4. Enter the 4-digit verification code obtained from your card statement and click on "Submit".

Providing the pin is correct, your payment method will be verified. For any issues with incorrect 4 digit verification code displayed on your card statement or no 4 digit code displayed on your card statement please contact directly your card issuing bank.

Please note: Your first card deposit is limited to €150. You cannot add any other cards until your first card is fully verified.

REVOLUT users – please log into your desktop Revolut application to retrieve the 4 digit code. Unfortunately, the Revolut mobile app does not display the code correctly, thank you.

 

How to Verify a Bank Account.

To verify your bank account, login to your MiFinity account and click on Bank Accounts from the list in the left side of the page. If you haven’t already added a bank account, click on Add New Bank Account and complete the required fields relating to the destination account. Please note: The details submitted can only be in the name of, and ownership of the MiFinity eWallet account holder. You are not permitted to register a Business or 3rd- party Bank Account on your MiFinity eWallet.

You can add a bank account for remittance purposes under the section labelled Contacts.

For your bank account to be utilized for withdrawals, click on the verify button on your registered bank account. Upload a copy of a bank statement linked to this bank account dated within the last 6 months from the date of issue. Bank statements on bank letter head should include the following:

  • Bank Name or logo
  • IBAN or Account number
  • MiFinity account holder Name & Surname

Please take note of the following guidelines:

  • No documents dated over 6 months will be accepted.
  • The document can be used as a proof of address if your address on the document matches the address registered to your MiFinity account
  • Bank Cards and credit cards are not acceptable to verify your bank account.
  • If a bank statement lists a credit card number, blank out only the middle digits, leaving the first 6 and the last 4 visible (12345 6XX XXXX 1234).

Once your file has been successfully uploaded, a green box will appear in the top right corner of the page confirming the process has been successful. The status of the document will show as “Pending Approval” until reviewed.

Once reviewed and verified, the option to withdraw funds to this Bank Account will be activated on your MiFinity eWallet You can use any of your bank accounts to withdraw your funds. Using the contacts section to withdraw your funds to yourself may lead to a delay in processing or may lead to your withdrawal being reversed. Only use the contacts section for remittance payments to 3rd parties.

 

How do I withdraw funds from my MiFinity eWallet?

If you have previously made a deposit to your account via card and completed the 4-digit pin verification process, you will have the option to send funds back to that card. Follow the next few steps to complete the withdrawal process.

  1. Select “Withdraw” from the options on the left side of the eWallet account.
  2. Complete “Step 1” by selecting the eWallet you wish to withdraw funds from.
  3. “Step 2” Gives you the options of where you are permitted to withdraw funds to. Please note: This section will only display Cards or Bank Accounts which have been verified by completing the verification process.
  4. Complete “Step 3” by entering the amount you would like to withdraw, the description of how you would like this transaction to appear on your statement, then select “Make Payment” at the bottom of the page.

You will be sent a conformation email detailing the credentials of this transaction for your reference.

 

What are the withdrawal rules and terms?

In the event you originally deposited with a card, then subsequent withdrawals will need to be paid back to the same card, up to the cumulative amount that was deposited.

The process will work like this:

  • Your oldest total card deposits will need to be paid back in full first.
  • Your second oldest total card deposits will need to be paid back in full second etc.
  • All withdrawals back to cards will need to at least match the original deposits from those cards.
  • Once all original card deposits have been covered via the withdrawal process you can then look to withdraw the surplus withdrawal amount back to any card, bank account etc.
  • We reserve the right to use additional eligibility criteria to determine available withdrawal options.

 

What is the withdrawal policy ?

  • Withdrawals to credit / debit card are possible
  • In line with the applicable laws, MiFinity will remit amounts only to the same payment method from where the funds deposited into your account originated.
    • Credit / debit card withdrawals are processed to the card(s) that were originally used to deposit. Should a User have more than one registered credit/ debit card, the withdrawal will be processed to the primary credit/ debit card (being the account from which you deposited the most of your deposited funds within the last 6 months), assuming withdrawals to this card are possible

 

I’m trying to move funds between my accounts and I’m getting an error message saying insufficient funds

Please ensure that the amount you are trying to send leaves sufficient funds in your account to cover the fee.

 

I tried to deposit Money but my account has not been credited

Please email us at clientservices@mifinity.com or use the live chat/email us link found at https://secure.mifinity.com/

 

How do I make a payment to a Merchant?

From the merchant’s site you can choose to pay via MiFinity. If you already have a MiFinity eWallet, you can log in via the merchant site (note you must have funds!). If you do not have a MiFinity eWallet account, you can still make a payment via MiFinity by entering your Visa or MasterCard details and your details will be used to create a MiFinity account (a registration email will be sent to you)

 

I forgot my Password

Please click on the “Forgot Password” link below the login area at https://secure.mifinity.com/ A link will be emailed to you within 15 minutes. Please check your Junk mail if you do not see the email after this time.

 

Can I have more than one eWallet purses within my MiFinity Account?

Yes. You may open a maximum of nine eWallets within your MiFinity Account. This limit is inclusive of a combination of your eWallet categories – Gaming, E-Commerce and Travel; and eWallets held within theses categories which are of a different currency. Just click “Create New Account” when in the Accounts section.

Transfers within the eWallet will only be possible to purses under the same category ie Travel - Travel.

 

What currencies are available for my eWallets?

MiFinity offers eWallets available in AUD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, INR, JPY, NOK, NZD, PLN, RUB, SEK, ZAR and USD.

 

Non-Serviced Countries

If you are residing in any of the following countries you are not allowed to use MiFinity services. A violation gives MiFinity the right to suspend or terminate your MiFinity Account at any time.

  • Afghanistan
  • Belarus
  • Congo,(DRC)
  • Cote d'Ivoire
  • Cuba
  • Iran
  • Iraq
  • Liberia
  • Libyan Arab Jamahiriya
  • Myanmar
  • Nicaragua
  • North Korea
  • South Sudan
  • Sudan
  • Syrian Arab Republic
  • United States
  • Venezuela
  • Yemen
  • Zimbabwe

 

Can I open a MiFinity Account for my Business?

Please contact us at clientservices@mifinity.com or on 00442895870100. We will put you in touch with one of our Sales Specialists who will discuss your business needs.

 

How do I verify my account?

You need to verify your account once you have transacted above 150 Euro (or currency equivalent). 

Note: You can verify yourself before then if you wish !

To verify your account and enjoy higher spending limits, you will need to submit:

 

1. Proof of Identity - with a selfie

AND

2. Proof of Address

 

To upload these documents, go to the Verify Yourself section in your MiFinity account and follow the on-screen instructions

You may be requested to provide further information and documentation throughout the business relationship. 

Documentation must be clear and readable, and you must submit one document per request.
 

Proof of Identity:

Documents accepted as Proof of Identity is a document that is not expired and is a government issued document. Such documents that are accepted are:

  • Valid Passport
  • Valid Identity Card (both sides required)
  • Valid Driving License

Some helpful tips when uploading a picture of your ID:

  1. Photo should be on a clear/consistent background, do not hold the ID if you can avoid it
  2. Please avoid reflections from light to ensure that the ID is readable
  3. Always use an actual ID and not a photocopy
  4. Always remove wearables such as glasses and hats
  5. Do not cover any data
  6. Passports should always be signed, and the signature visible
  7. Select the correct document type that applies to your document
  8. Make sure you have the latest version of the operating system for your web device
  9. Make sure cache/cookies are clear if you are having issues with the web platform
  10. Make sure you are selecting the correct country linked to your ID

 Acceptable Selfie

  • Please submit a photo only of yourself holding your photo ID. Your face and document must be seen clearly in the photo.

 

Proof of Address

The following documents are acceptable as your Proof of Address:

  • Bank Statement
  • Credit Card Statement
  • Mortgage Statement
  • Government-issued documents or correspondence
  • Motor Tax Certificate
  • Utility Bill or Utility Service correspondence (Electric, Water, Gas, Fixed Internet, or Landline Phone)
  • Insurance Certificate (Life policy, Home Insurance, Motor Insurance)
  • Government ID with address (please note that any Proof of identification you have previously submitted that shows your address associated with your MiFinity account should be a different Photo ID previously submitted in your earlier verification).

This document is to be dated within the last three (3) months from the date of request.

Mobile phone bills or purchase orders are NOT acceptable.

 

Source of Wealth & Source of Funds

  • Payslip dated within the last three (3) months, name & surname to be visible.
  • Pension or Illness Benefit Contract together with evidence of Income (Bank Statement acceptable)
  • Inheritance Contract
  • Sale of Property
  • Tax Return if Self-Employed, together with a Bank Statement dated within the last three (3) months
  • Certificate of Winnings or Deposit Vs Withdrawal Image – Name to be shown on both documents

 

Why do I need to verify my identity?

MiFinity Payments are regulated by the Financial Conduct Authority in the United Kingdom and by the Malta Financial Services Authority in the EU, and are therefore obliged by regulation to carry out the know your customer (KYC) process. This is the verification of our customers. This is a part of an anti-money laundering measure.

 

I haven’t received and email and I am waiting for my account to become verified

Please note that it can take between 24 to 48 hours for your KYC documents to become processed. Once they are successfully processed, you will receive an email notification and your profile will show as green verified

 

If you are unable to upload your documents please make sure that they are in the following file formats:

  • gif
  • jpg
  • png
  • doc
  • bmp
  • docx
  • pdf

If the issue persists, please contact customer support.

If there is an issue with the successful processing of your documents, customer services will be in contact with you via email.

 

My account has been restricted, what do I do?

If your account has been restricted for security reasons, you will be contacted by our team. If your account has been restricted but you have not been contacted, please check your junk email or contact customer services.

 

Inactive Account

Your MiFinity Account is free for personal use. If you do not log in for 12 months your account will become inactive and a service fee of €1 per month will be deducted from the funds in your account.

 

How do I report suspicious activity?

If you feel that suspicious activity has occurred on your account, contact MiFinity fraud team immediately at clientservices@mifinity.com

If you feel that your account details may have been compromised, change your password immediately by logging on, going to your profile and password change. It is important to choose a password that is not easily guessed and do not share this with anybody.

 

I have received a suspicious email, what do I do?

If you receive any communication which you are suspicious about please report this immediately to clientservices@mifinity.com

Never share your personal or log in details for your MiFinity account and if you suspect that you may have been contacted by someone pertaining to be MiFinity contact us immediately.

 

I have received an email for a failed log in what do I do?

If you receive an email notifying you of a failed log in attempt that was not carried out by you, please report this to MiFinity fraud team immediately at clientservices@mifinity.com and change your password.

 

How am I protected against fraud?

MiFinity operate a sophisticated fraud alert system which monitors all activity on our platform for suspicious activity. We have in place prevention measures which safeguard you from being the victim of a phishing scam or an attack, however if it important that you take precautions to protect yourself online using your MiFinity e-Wallet.

  • Never share passwords or account details
  • Never leave your account open and unattended
  • Never save your login details in a web browser
  • If you see something suspicious, report it immediately
  • Review your transactions regularly for any unusual transactions
  • Change your password regularly

 

Which methods are available for sending money?

You can send money directly to bank account, mobile number or eMail address (this will prompt the recipient to create a MiFinity wallet) or to another MiFinity eWallet

 

How to send money to a bank account?

  • Log in to your eWallet
  • Click on Send
  • Choose External Bank Transfers
  • Select Country and Currency you are sending the money to
  • Add your contact’s Bank Account Details in the Add Contact section or choose from existing Contacts. The money will be sent directly to your contact’s bank account.
  • Enter the amount you are sending to your contact
  • Contact receives shows the amount in local currency that that you r contact will receive in their bank account
  • The Exchange rate is the rate charged to the sender for converting the send Amount into the local currency of the contact
  • Transaction Fee is the fee charged to the sender for sending the money
  • Transfer Amount is the total cost to the sender and this is deducted from the sender’s eWallet. Transfer Amount includes Amount to be sent plus small transaction fee and FX fee for conversion of send amount to local currency
  • Click on MAKE PAYMENT
  • If provided your contact will also receive an email to confirm bank transfer

 

How to send money to a mobile number?

  • Log in to your eWallet
  • Click on Send
  • Choose MiFinity to MiFinity
  • Enter the mobile number of the person you are sending the money to.
  • Enter the amount you are sending to your receipient
  • Transaction Fee is the fee charged to the sender for sending the money
  • Transfer Amount is the total cost deducted from the sender’s eWallet. Transfer Amount includes Amount to be sent plus small transaction fee
  • Click on MAKE PAYMENT
  • The recipient will receive a payment link from MiFinity by text message on how to claim funds.
  • Receiving money through MiFinity eWallet is free of charge
  • Note the recipient will need to have a MiFinity eWallet to receive the money. If the recipient does not register for a MiFinity eWallet and /or does not claim the money within 7 days it will be automatically be returned to the sender’s MiFinity balance

 

How to send money to an eMail address?

  • Log in to your eWallet
  • Click on Send
  • Choose MiFinity to MiFinity
  • Enter the email address of the person you are sending the money to.
  • Enter the amount you are sending to the recipient
  • Transaction Fee is the fee charged to the sender for sending the money
  • Transfer Amount is the total cost deducted from the sender’s eWallet. Transfer Amount includes Amount to be sent plus small transaction fee
  • Click on MAKE PAYMENT
  • The recipient will receive a payment link from MiFinity by email on how to claim funds.
  • Receiving money through MiFinity eWallet is free of charge
  • Note the recipient will need to have a MiFinity eWallet to receive the money. If the recipient does not register for a MiFinity eWallet and /or does not claim the money within 7 days it will be automatically be returned to the sender’s MiFinity balance

 

How to send money to another MiFinity eWallet account?

  • Log in to your eWallet
  • Click on Send
  • Choose MiFinity to MiFinity
  • If the person you are sending the money to already has a MiFinity eWallet just ask the recipient for their MiFinity eWallet account number.
  • Enter the amount you are sending to the recipient
  • Transaction Fee is the fee charged to the sender for sending the money
  • Transfer Amount is the total cost deducted from the sender’s eWallet. Transfer Amount includes Amount to be sent plus small transaction fee
  • Click on MAKE PAYMENT
  • The money will be sent instantly to your recipient’s eWallet.
  • The recipient will also get an email or a text message instantly of the money transfer
  • Receiving money through MiFinity eWallet is free of charge

 

Bank Transfers

How many countries support Bank Transfer?

Which countries can I do a bank transfer to?

Argentina, Austria, Belgium, Brazil, Bulgaria, Canada, Chile, Colombia, Croatia, Cyprus, Czech Republic, Denmark,Estonia, Finlad, France, French Guiana,Germany, Gibraltar, Greece, Guadeloupe, Guernsey , Hungary,Iceland, Ireland,Isle of Man, Italy, Jersey , Latvia, Liechtenstein , Lithuania, Luxembourg , Malta, Martinique , Mayotte , Mexico, Monaco, Netherlands , Norway, Peru, Poland, Portugal, Reunion, Romania,Russia, Slovakia, Slovenia , Spain, Sweden, Switzerland,Turkey,Ukraine,United Kingdom, Uruguay

 

Which currencies are supported?

MiFinity offers the creation of eWallets in the following currencies: AUD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, INR, NZD, PLN, SEK, ZAR and USD.

We allow bank transfers in the recipient's local bank currency for the following currencies:

EUR, CAD, CZK, GBP, PLN, SEK, BGN, HRK, DKK, ZAR, HUF, RUB, TRY, UAH, ARS, BRL, CLP, COP, PEN, UYU, MXN.

 

Are there limits to the amount that can be sent?

Your limit is set at 2000 EUR per year with the possibility to have this increased after a review. As a regulated financial company we are required to comply with all standard.

MiFinity Payments are regulated by the Financial Conduct Authority in the United Kingdom Malta Financial Services Authority (“MFSA”) in Malta. Therefore, we are obliged by regulation to carry out the know your customer (KYC) process. This is the verification of our customers. This is an anti-money laundering measure.

 

What details are required to do a Bank Transfer?

You will need your contact’s bank details. Fields vary depending on the contact’s bank country. These could include First Name, Last Name, Bank Name, Address, City, Account Number / IBAN / BIC , Bank Code, Account Type.

 

What are your fees ?

You can find more details on our fees here

 

How is the exchange rate calculated?

This is the rate applied to convert your account currency into your desired payment currency

 

What is the Transaction fee?

This is a small fee that we charge for sending your money. You can find more details on our fees here

 

What is the Total to Pay Amount?

This is the amount deducted from your MiFinity eWallet to cover the actual amount you wish to send plus fees.

 

What amount will my contact receive get?

Your contact will get the amount you decide to send. Fees are only charged to the sender of the money. There are no fees applied by MiFinity to your contact.

 

How much does it cost a contact to receive funds in their bank account?

There is no charge applied to the contact for receiving any funds from a sender.

 

How long does it take for my contact to see the funds in their bank account?

Transfers are processed within 24 hours on our side. Times for funds to be applied to the contact’s bank account may vary from instant, same day, next day and up to 3-5 days. The application of funds to the contact’s bank account is dependent on the bank's response times to apply the funds to the account

 

Can I request a refund if I make a transfer by mistake?

No. Once the transfer has been submitted and processed, funds have already been passed to your chosen contact so there is no way for us to retrieve the funds.

 

Can I cancel my transfer after I completed the Make Payment?

No. Once the transfer has been submitted and processed, funds have already been passed to your chosen contact so there is no way for us to retrieve the funds.

 

Where can I see the details for my transfer?

Details of any transactions can be viewed by logging into your MiFinity Account under the eWallets section and Transactions Tab

 

What payment options are available for funding my eWallet?

We accept Visa, Mastercard and also internationally issued UnionPay cards. We also offer an extensive network of secure local payment methods depending on your country of residence e.g. Ideal, Boleto etc. All deposit options are available depending on your country of residence and can be seen after logging into your MiFinity account and clicking on Deposit.

 

How safe is MiFinity ?

MiFinity is a financially licensed eMoney company authorised and regulated by Financial Conduct Authority ( FCUK) and Malta Financial Services Authority (MFSA) .

®MiFinity UK Limited, trading as MiFinity, is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 [Register Ref. 900090] for the issuing of electronic money.

®Mifinity Malta Limited, trading as MiFinity, is authorised by the Malta Financial Services Authority (“MFSA”) as a Financial Institution under the Financial Institutions Act 1994 (Chapter 376 of the Laws of Malta). Registration Number C64824.

 

How secure is MiFinity and my transaction ?

MiFinity complies with PCI DSS Service Level 1 regulations so you know our systems are regularly audited and secure. Our eWallet and all transactions are encrypted and secured with SSL (Secure Socket Layer) technology which protects your information and data. Our IT systems are protected by state of the art firewalls which build a barrier between the internet and our internal systems. To log into our secure eWallet you will need to register with a unique username/e-mail address and a secure password

 

Can my contact receive an email confirmation of the transfer?

Yes. Simply insert your contact's email address when you add their bank details.

 

Why do I need to provide identification?

As a financially regulated Documentation is required as we need to validate your identity and address before allowing you to transfer funds to a third party.

 

How does money transfer to China work?

This service allows consumers located outside China to send money to UnionPay issued cards in China. The service leverages UnionPay MoneyExpress network. It is a highly secure, convenient & efficient remittance solution. You can make a transfer 24/7 either from a laptop, tablet or your smartphone.

 

Which banks in China support money transfer?

Here is the latest listing of banks in mainland China that support this service.

 

Issuers Debit card Credit card
Agricultural Bank of China (AgBank) √ x
Bank of China √ √
Bank of Communications √ x
Bank of Inner Mongolia √ x
Bank of Shanghai x √
China Construction Bank √ x
China Everbright Bank √ x
Fujian Rural Credit Cooperative √ x
Guangdong Rural Credit Cooperative √ x
Harbin Bank √ x
Henan Rural Credit Cooperative √ x
Hua Xia Bank √ x
Hunan Rural Credit Cooperative √ x
Industrial and Commercial Bank of China Limited √ √
Linshang Bank √ x
Qinghai Rural Credit Cooperative √ x
Wuhan Rural Commercial Bank √ x
Zhejiang Rural Credit Cooperative √ x

 

  • This listing is subject to change.

 

Which countries can funds be sent to?

China only and as long as the receiver is Chinese citizen with a UnionPay card supporting MoneyExpress.

 

Which countries can funds be sent from?

Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden & United Kingdom.

 

How do I get started & make a transfer?

Sign Up to use today at https://secure.mifinity.com/auth/signup

 

What information is required about the recipient card holder ?

First name and surname name in English characters only.
Card number of UnionPay card holder which should be 16-19 digits.

 

Can I send money to more than one person?

Yes. For each individual money transfer just add the required card holder details of the recipient.

 

When does the UnionPay cardholder receive the funds?

Domestic cardholders will receive remittance in RMB in real time or within 12 hours.

 

What does the cardholder need to do to receive the funds?

Cardholder does not need to do anything to receive the funds.

 

How do I know the amount the recipient will receive in CNY?

The CNY transfer amount is selected by the sender and this is the exact amount that will be remitted to the beneficiary.

 

How do I know the exchange rate?

The exchange rate will be displayed real time to you in the transaction window prior to you completing the payment transaction.

 

How is the conversion rate calculated?

MiFinity apply a small margin to the exchange rate as supplied to us from UnionPay.

 

Are there any fees charged to the sender for using this service?

Yes. Fees are calculated on the actual amount that you wish to transfer to a card holder and they are charged to your MiFinity eWallet.

  • Less than or equal 250.00 USD (1.90 USD)
  • 250.00-2,500.00 USD (.76% of value in USD)
  • 2,500.00 USD and above (19 USD)

 

Are there any additional fees that the receiver of the funds pays?

No.

 

Are there any limits to the amounts that can be transferred?

Yes. There are foreign exchange quotas which are controlled by the State Administration of Foreign Exchange (SAFE) in China.

The SAFE system conducts real time checks on the card holder’s quota which are currently the following:

Daily transaction limit 10,000 USD
Single transaction limit 5,000 USD
Annual transaction limit 50,000 USD

 

How do I know if the recipient card holder receives my money transfer?

You will receive an immediate email confirmation with transaction reference details. Note in order for the recipient to receive the funds onto their UnionPay issued card the cardholder must ensure they have instructed their issuing bank to accept international payments. In addition, you will also be able to view the transfer immediately within your MiFinity eWallet at https://secure.mifinity.com

 

Can I cancel a payment?

As soon as you confirm the transfer of funds by clicking on Make Payment the transfer is submitted and cannot be cancelled and /or reversed.

 

Who can I contact with a question re my money remittance transfer ?

You can contact our Client Services team at the following:

Email : clientservices@mifinity.com
Live Chat https://secure.mifinity.com
Tel : +44 28 9587 0100 . Note English speaking agents are available 9-5pm UK time

 

Does this support business money remittance?

This specific solution is for consumer to consumer. However, MiFinity does already offer a separate remittance solution for businesses. For further details please contact sales@mifinity.com

 

Interac (Canada)

What is Interac?

Interac is an electronic fund transfer service that is available to Canadians via the Canadian Interbank Network named INTERAC. Customers will need to have Canadian bank or credit union account.

What deposit methods are available with Interac?

There are 2 deposit options that you can use:

  1. Interac e-Transfer. Read more here.
  2. Interac e-Transfer Request Money. Read more here.

How do I deposit with Interac?

For Interac e-Transfer:

  • Log in to your MiFinity eWallet
  • Choose Deposit
  • Click on Alternative Payments and select Interac from the carousel
  • Choose the eWallet you wish the funds to be loaded into
  • Enter amount you want to deposit and click on Make Payment

You will be re-directed to a new screen and must complete all the required steps to complete your deposit

  • Select bank name
  • Choose preferred deposit option Interac e-Transfer or Interac e-Transfer Request Money

For Interac e-Transfer:

  • Follow instruction set
  • Confirm payment within your bank environment
  • Receive confirmation email and are returned to merchant website

For Interac e-Transfer Request Money:

  • Select Interac e-Transfer Request Money
  • You are re-directed to Interac e-Transfer Request Money page
  • Enter mobile number or email address
  • Interac will receive a request for money
  • Select bank & then access your online banking environment
  • Select your account and send the e-Transfer
  • You receive confirmation email and are returned to merchant website

What withdrawal methods are available with Interac?

There are 2 withdrawal methods that you can use with the MiFinity eWallet:

  1. INTERAC e-Transfer
    Read more here
  2. eCashout
    Read more here

How do I withdraw from my eWallet using Interac?

  • Log in to your MiFinity eWallet
  • Choose Withdraw
  • Select the eWallet you wish to withdraw the funds from
  • Click on Alternative Payments and select Interac e-Transfer or eCashout
  • Enter amount you want to withdraw and click on Make Payment

If you select INTERAC e-Transfer as your withdrawal option:

  • The recipient will receive an SMS text message with his/her security question answer on the mobile number supplied
  • An INTERAC e-Transfer email will be sent to the email address supplied
  • The End-user copies “Recipient email” and “Message” and enters the amount
  • The recipient will receive 3 reminders until he accepts or declines the INTERAC e-Transfer

If you select eCashout you will be prompted to provide the following information in order to complete the withdrawal

  • User’s financial institution number
  • User’s account transit number
  • User’s account number

How long does it take for a deposit with Interac to be credited to my MiFinity eWallet?

It can take between 1 to 15 minutes for funds to be credited on the basis all the information provided is correct. It can take longer if any information is missing.

How long does it take for a withdrawal of funds with Interac to reach my bank account?

It can take between 1 to 2 business days for the funds to be available in your bank account.

What are the fees for depositing and withdrawing with Interac?

You can find more details about our fees here.

 

CashToCode

What is CashtoCode?

CashtoCode is a deposit method that allows you to make cash payments easily, quickly, and securely. It is a voucher-based payment system. You do not have to use your bank account or credit card. CashtoCode has over 100,000 retail partners across Europe and beyond, so there should be one close to you.

CashtoCode Classic was launched initially in Germany and Austria and has now expanded globally into the UK, Ireland. It is also available across retail locations in Australia, Brazil, South Africa, Nigeria, Ghana and Kenya. In addition, you can also buy a CashtoCode eVoucher online from participating resellers.

Both CashtoCode deposit methods are available through the MiFinity eWallet and within the MiFinity iFrame in the cashier on your favourite sites!

 

What deposit methods are available with CashtoCode?

There are two deposit methods:

  1. CashtoCode Classic. Read more here.
  2. CashtoCode eVoucher. Read more here.

 

What is CashtoCode Classic Voucher?

This is where you choose CashtoCode within the deposit section of the MiFinity eWallet or within the MiFinity iFrame. A unique paycode will be generated which you can then take to physical retail location to have scanned and paid for in cash.

 

What is CashtoCode eVoucher?

The CashtoCode voucher is a safe and instant payment alternative that helps you to maximize your online security by minimising exposure of sensitive personal or financial information. How? CashtoCode is a secure prepaid voucher. Like a personal financial firewall, you can only spend the amount of prepaid credit purchased.

This is the online PIN solution where you first buy a 20-digit PIN online from one of CashtoCode resellers. This is available 24/7 instantly.

Your voucher code is immediately redeemable. It can only be redeemed one time so make sure you use the full amount all in one go. You can then log into your MiFinity eWallet , click on Deposit and choose CashtoCode. This can also be done within the MiFinity iFrame in the cashier on your favourite websites; simply select Cashtocode as your payment method, and enter the 20 digit pin and your funds will be instantly accessible in the merchant cashier.

 

Which countries can I use CashtoCode classic in?

CashtoCode classic payments are available in the following countries and fixed limits.

  • Germany: 10€, 25€, 50€, 100€, 200€, 400€
  • Austria: 10€, 25€, 50€, 100€, 200€, 300€, 400€, 500€
  • Australia: 25$, 50$, $100, $150, $200, $400.
  • UK: 20 GBP, 50, GBP 100 GBP, 150 GBP, 250 GBP
  • Ireland: 10€, 25€, 50€, 100€, 200€, 400€, 500€, 800€
  • Nigeria: 500 NGN,1,000 NGN, 2,500 NGN, 5,000 NGN, 12,000 NGN, 23,000 NGN, 45,000 NGN, 90,000 NGN
  • Ghana: 70 GHS, 175 GHS, 350 GHS, 700 GHS, 1,000 GHS
  • Kenya: 1,300 KES, 3,000 KES, 6,500 KES, 13,000 KES, 20,000 KES
  • Brazil: 50 BRL, 100 BRL, 250 BRL, 500 BRL, 1,000 BRL, 2,500 BRL, 4,500 BRL.

Further details on Germany and Austria can he found here.

 

Which currencies can I purchase CashtoCode eVoucher in?

CashtoCode eVouchers can be purchased in the following currencies and fixed limits:

  • USD: 5 USD, 10 USD, 15 USD, 25 USD, 50 USD, 100 USD, 200 USD
  • INR: 300INR, 1,000 INR, 2,500 INR, 5,000 INR, 8,500 INR, 17,000 INR
  • AUD: 25 AUD, 50 AUD, 100 AUD, 150 AUD, 200 AUD, 400 AUD
  • JPY: 2,500 JPY, 6,000 JPY, 12,000 JPY, 24,000 JPY
  • RUB: 1,000 RUB, 2,500 RUB, 10,000 RUB, 15,000 RUB
  • CNY: 100 CNY, 200 CNY, 500 CNY, 800 CNY, 1,500 CNY
  • ARS: 1,000 ARS, 2,500 ARS, 5,000 ARS, 10,000 ARS, 15,000 ARS
  • CAD: 25 CAD, 50 CAD, 100 CAD, 150 CAD, 250 CAD
  • NGN: 500 NGN,1,000 NGN, 2,500 NGN, 5,000 NGN, 12,000 NGN, 23,000 NGN, 45,000 NGN, 90,000 NGN
  • GHS: 70 GHS, 175 GHS, 350 GHS, 700 GHS, 1,000 GHS
  • KES: 1,300 KES, 3,000 KES, 6,500 KES, 13,000 KES, 20,000 KES
  • ZAR: 200 ZAR, 500 ZAR, 900 ZAR, 1,750 ZAR, 2,500 ZAR, 3,500 ZAR

 

How do I deposit with CashtoCode in my MiFinity eWallet?

  • Log in to your MiFinity eWallet/MiFinity iFrame
  • Choose Deposit
  • Select Cash to Code from the available methods
  • Choose the eWallet you wish the funds to be loaded into
  • Enter amount and / or currency from drop down listing you want to deposit
  • Click on Make Payment

You will be re-directed to a page hosted by CashtoCode and must complete all the required steps to complete your deposit

Based on your country of residence you will be presented with one of the following deposit options:

 

CashtoCode Classic:

  • Choose your preferred retail location
  • Generate the unique paycode
  • Download the paycode or print it
  • Visit your nearest CashtoCode retail location and present the paycode
  • Complete the payment by paying the amount in cash at the retail location
  • Your online payment is confirmed, and you will receive an email from MiFinity to confirm credit to your eWallet
  • You will return to your MiFinity eWallet. If you have done this in the MiFinity iFrame you will be redirected to the merchant cashier where you can access your funds instantly.
  • Your MiFinity eWallet balance will be credited by the amount of the Classic voucher

 

CashtoCode eVoucher:

  • Enter your unique 20-digit PIN
  • Select Deposit Now on the same screen.
  • You will receive a successful deposit message for the amount of the eVoucher
  • You will return to your MiFinity eWallet. . If you have done this in the MiFinity iFrame you will be redirected to the merchant cashier where you can access your funds instantly.
  • Your MiFinity eWallet balance will be credited by the amount of the eVoucher
  • You will receive an email from MiFinity to confirm credit to your eWallet

 

Where can I buy a CashtoCode eVoucher?

CashtoCode eVouchers can be purchased from any of the partner resellers: Dundle, ReloadHero, and .

 

How long does it take for a deposit with CashtoCode Classic to be credited to my MiFinity eWallet/Merchant Cashier?

The money will appear in your MiFinity eWallet instantly once it has been successfully scanned at the point of sale by the retailer.

 

How long does it take for a deposit with CashtoCode eVoucher to be credited to my MiFinity eWallet/Merchant Cashier?

The money will appear in your MiFinity eWallet instantly once it has been successfully redeemed for the full amount.

 

What are the MiFinity fees for depositing with CashtoCode in the MiFinity eWallet?

You can find more details about our fees here

 

How long are my Classic and eVoucher paycodes valid for?

Once your paycode is generated it is valid with MiFinity for 7 days from date of purchase.

 

Do I have to use the whole amount on my CashtoCode eVoucher at once?

Yes, each CashtoCode voucher can only be used once and always for the full amount available. So please ensure that you always choose the matching CashtoCode voucher amount and currency for the payment you want to make in your MiFinity eWallet.

 

 

 

 

Cryptocurrency (Deposit & Withdrawal)

How can I send funds from my crypto wallet?

If you want to top up your MiFinity eWallet using your cryptocurrency wallet, just follow the steps below:

  1. Open the MiFinity app or login via www.mifinity.com
  2. Select Deposit
  3. Select the cryptocurrency you wish to deposit with e.g.BTC, BCH, ETH, XRP or LTC.
  4. Choose the eWallet you wish to deposit your funds into
  5. Enter the amount you wish to deposit and click on Make Payment

You will be re-directed to a new iFrame screen hosted by Cryptopay and must complete all the required steps to complete your deposit

  1. Click Open Wallet
  2. You will be redirected to your crypto wallet
    1. Please note: if you do not have a crypto wallet we've listed below a collection of popular wallets that you could consider.
    • Cryptopay wallet
    • BitPay Wallet
    • Copay Wallet
    • BTC.com Wallet
    • Mycelium Wallet
  3. In your Crypto wallet select the required coin and select Send
  4. Go back to the Cryptopay iFrame
    1. Copy the Amount field and also the Cryptocurrency address field
    2. Paste the Amount and Cryptocurrency address into your Crypto Wallet
    3. Click on submit your payment
  5. Make sure you make the payment to the generated wallet address within 10 minutes.
  6. Your deposit is complete and your MiFinity balance will be credited. Note, this can take several minutes to process.

 

Which cryptocurrency can I use?

We support Bitcoin BTC, Bitcoin Cash BCH, Ethereum ETH, Litecoin LTC and Ripple XRP. Additional coins will be added in the future.

The cryptocurrency is converted into FIAT by our third-party cryptocurrency processor (Cryptopay), and you are credited with the fiat funds in your MiFinity eWallet.

The funds were debited from my crypto wallet but not credited to my MiFinity eWallet

Please note that all Crypto deposits must be initiated from your MiFinity eWallet using the unique destination wallet that is given to you for each transaction. If you reused a wallet address to which you have already transferred funds before, the transaction is not automatically credited to your MiFinity eWallet. Our Customer Support team must locate it and credit it manually for you.

Please send the following payment details to our Customer Support team including the provided transaction link on the blockchain:

  • The amount and time of the transaction
  • The destination wallet address
  • The transaction ID on the blockchain network (insert it to your message as text - not in an image format)

We will investigate and get back to you as soon as possible.

I used the same wallet address for more deposits from my crypto wallet

Every payment from your cryptocurrency wallet to your MiFinity account is linked to a different destination wallet address. This means that you have to initiate a new deposit in your MiFinity eWallet each time you want to send funds from your cryptocurrency wallet.

If you use the same wallet address for more than one top-up, only the first one will be credited without any delays. If you sent more payments to the same destination address, please contact our Customer Support team with the following information:

  1. The amount and time of the transaction
  2. The destination wallet address
  3. The transaction ID on the blockchain network (insert it to your message as text - not in an image format)

With this information in hand, our Customer Support team will be able to locate your payment

 

I'm having trouble opening the pay by wallet link on my phone

That link will only work if you have a bitcoin wallet app installed on your phone or desktop. Most wallet apps support external applications opening the links. If you have one which doesn't work, you may need to copy the destination invoice link and pay from your wallet. If you do not have a wallet app that you could use on your phone, we've listed below a collection of popular wallets, that you could consider.

  • Cryptopay wallet
  • BitPay Wallet
  • Copay Wallet
  • BTC.com Wallet
  • Mycelium Wallet

 

What is the fee for deposits and withdrawals to a crypto wallet?

Sending and withdrawing funds from your Mifinity eWallet to your crypto wallet costs 1.8%. This fee is deducted by MiFinity to cover our payment costs. Our fees are displayed here.

If you think that you have been additionally charged, we recommend checking with your crypto wallet provider if they are not applying any fees for the received transaction. It is called "mining" or "network" fee. The mining fee is not charged by us and we do not have any control over it.

 

How to withdraw funds to my crypto wallet?

When your MiFinity account has been successfully verified, you can use the available withdrawal options to send the funds from your MiFinity eWallet.

Please follow the steps below if you would like to withdraw funds to your crypto wallet:

  1. Log into your MiFinity eWallet account via the MiFinity app or login via www.mifinity.com
  2. Select Withdraw
  3. Choose the MiFinity Wallet you wish to withdraw from
  4. Select the Cryptocurrency radio button.
  5. Choose from the list of Cryptocurrencies you wish to use
  6. Enter the amount
  7. Specify the Crypto payment destination address. Note: Make sure you know what the correct address of your cryptocurrency wallet and that this wallet belongs to you.
  8. Confirm by selecting Make Payment

Once your withdrawal request has been successfully submitted on our end, it can take between 30 minutes and a few hours for the funds to arrive in your crypto wallet.

 

How long do the withdrawals to a crypto wallet take?

We review and process withdrawals every day throughout the day. If there are any questions from our side while reviewing your withdrawals, our Customer Support team will get in touch with you,

Once your withdrawal request has been successfully submitted on our end, it can take between 30 minutes and a few hours for the funds to arrive in your crypto wallet.

 

MiFinity eVoucher

What is the MiFinity eVoucher?

MiFinity eVouchers are the perfect solution to top up your MiFinity eWallet account without the use of bank, credit or debit cards. The MiFinity eVoucher is safe and highly secure without the need to risk giving out your card or bank details. As our eVouchers are fixed denominations you are in control of the amount you purchase either for yourself or for family and friends. Click here to open a MiFinity eWallet account for free.

 

How to get your MiFinity eVoucher instantly

With over 80 payment methods available through our MiFinity eVoucher reseller Dundle, there are even more ways you can buy a MiFinity eVoucher! On the Dundle website simply choose your MiFinity eVoucher amount and which currency you would like to purchase, complete the payment online and your MiFinity eVoucher CODE will be available in your Dundle account. Details of how to redeem the code within the MiFinity eWallet account will be emailed to you separately too.

If you have any questions the dedicated Dundle.com customer services team will be on hand to help you at any time. Simply click on the Customer Services link and select the best option to contact Dundle.

A full list of MiFinity eVoucher resellers can be found here.

 

How can you use the MiFinity eVoucher

Similar to other evoucher products like Neosurf and Paysafecard, when you receive the 20-digit PIN CODE just open your MiFinity eWallet account, select deposit, and scroll to find the eVoucher logo, select this and add the exact denomination and currency you purchased the eVoucher for. You will then be taken to a screen where you enter the 20-digit PIN and within seconds your MiFinity account will be credited with the eVoucher amount minus your fees. You will then be able to spend your balance with all merchants that accept MiFinity!

 

Do I have to redeem the whole eVoucher amount in the MiFinity eWallet account?

Yes, your MiFinity eVoucher can only be used once in full. You must always select the full amount of the eVoucher and the right currency you have purchased in.

 

How long will my MiFinity eVoucher be valid?

From the date of purchase, the MiFinity eVoucher will be valid for 12 months.

 

Which countries can I use the MiFinity eVoucher?

The MiFinity eVoucher can be purchased in all countries except for United States of America and a few other non-serviced countries.

 

What currencies can the eVoucher be purchased in?

The MiFinity eVoucher can be brought in a wide variety of currencies. The below table shows the currency and denominations currently available:

AUD Australian Dollar 25 50 100 150 200 400
CAD Canadian Dollar 25 50 100 150 250  
CHF Swiss Frank 25 50 100 150 250  
EUR Euro 10 25 50 100 200  
GBP British Pound 20 50 100 150    
JPY Japanese Yen 2,500 6,000 12,000 24,000    
NOK Norwegian Krone 250 500 1,000 2,000    
PLN Polish Złoty 50 100 250 400    
RUB Russian Ruble 1,000 2,500 10,000 15,000    
USD United States Dollar 10 25 50 100 200  
ZAR South African Rand 200 500 900 1,750 2,500 3,500

 

With many more soon to be released too.

 

Can I keep a balance on my MiFinity eVoucher?

No, the full eVoucher value must always be used when redeeming this in the MiFinity eWallet. Also, remember that it will be valid for 12 months before it expires.

 

Can I give the MiFinity eVoucher as a gift to family and friends?

Yes, the MiFinity eVoucher makes for the perfect gift for friends and family who love to spend online. Please ensure however that the PIN can only be used once so please take care to keep this secure.

 

Where can I use the MiFinity eVoucher?

Once you have redeemed your MiFinity eVoucher in your MiFinity eWallet account you will have access to thousands of online merchants. Here is a selection of a few.

 

The MiFinity eVoucher is now available to be redeemed directly on your favourite merchant cashier through the MiFinity iFrame.  To deposit within the iFrame using the MiFinity eVoucher please follow the below simple steps:

 

Step 1:

Within the MiFinity iFrame select the MiFinity eVoucher as your deposit option.

 

Step 2:

Click the ‘Make Payment’ button.

 

Step 3:

You will be redirected to the MiFinity eVoucher screen.

Enter your 20 digit MiFinity eVoucher PIN here that you received when you purchased your MiFinity eVoucher from your preferred online reseller.

You will also need to accept the terms and conditions and select ‘Pay’.

Note: If you do not have an eVoucher, you can easily head to one of our resellers to purchase one. For example Dundle, OffGamers, ReloadHero or Kinguin 

 

Step 4:

A payment confirmation screen will appear, and your funds will now be available within your merchant’s cashier.

 

PLEASE NOTE:

(1) You must deposit to the merchant cashier using one of our MiFinity eVoucher available denominations.  If you have entered an amount that does not match one of our available denominations, you will be given the opportunity to view the supported denominations available to deposit, as seen below, or select ‘Back’ to choose an alternative deposit method.

If you decide you wish to deposit using a supported denomination displayed you can close the window, return to the merchant cashier & begin again the deposit process by entering the correct supported and available denomination.

 

(2) If you try to deposit into the merchant cashier using a MiFinity eVoucher which does not match any of the available currencies you will be able to check the drop down menu for alternative currencies available.

Then you can either click on the Back button and choose an alternative payment option or close the window in the below screen and retry in the merchant cashier using the correct MiFinity eVoucher denomination and currency in the cashier.

 

What is a virtual IBAN solution ?

You can create a unique and personal IBAN within the eWallet if you are located in EEA and UK . This is linked to your default eWallet account. You will then be able to transfer funds from a bank account or Bank App into your MiFinity eWallet. Payments are effectively pushed from a bank account or Bank App to your MiFinity eWallet. In fact, it’s another way to deposit funds into your eWallet using your own personal and unique IBAN. We only receive bank transfers in EUR (BIC & IBAN) or GBP (Account Number & Sort Code).

 

What are the benefits of a virtual IBAN ?

The main advantages of the virtual IBAN are :
• Available in EUR and GBP currencies
• An easy and flexible way to deposit funds for FREE into your MiFinity eWallet
• Same day settlement for SEPA transactions
• Receive funds from any IBAN enabled bank account
• Enjoy low-cost transaction fees

 

How do use virtual IBAN to load funds into your MiFinity eWallet?

First of all, you need to verify your account in order to create a virtual IBAN. When prompted this can be done by uploading the necessary documents within your eWallet.

In order to load funds into your eWallet account, you can copy these unique virtual IBAN details and insert them into the Bank App to complete the payment transfer. Once payment is completed in the Bank Payment app the funds will then be credited and available for use within the MiFinity eWallet.

 

What are the transaction fees of using the IBAN service?

Sending funds to your MiFinity eWallet using IBAN is completely free.

 

What are the limits I can receive via IBAN?

Withdrawal limits are dependent on your existing Wallet limits. You will be able to check this by going to Profile button at the top of the navigation and checking your 'Cumulative activity value' amount. If you will exceed this you should complete complete the verification process to raise your limits or contact clientservices@mifinty.com for assistance.

 

How quickly do I get issued with my IBAN? 

Once your account has a verified status you can create a virtual IBAN. You will receive an immediate email to confirm the successful creation of your virtual IBAN.

 

Which BIC should I use when sending funds to my virtual IBAN?

When you create a Virtual IBAN you will also see your BIC number. Both the BIC and IBAN details can be copied from your eWallet and inserted into the Bank Payment App.

 

How many IBANs can I use in my eWallet?

You will only be able to have one virtual IBAN.

 

Where can I use this virtual IBAN?

You can use your unique IBAN details in a Bank App and receive funds into your MiFinity eWallet

 

What is the cost to create a virtual IBAN?

It is free to create a virtual IBAN within your MiFinity eWallet

 

Where can I see the funds that I have sent using my personal virtual IBAN?

All funds will be transferred to your default eWallet

 

If I have more than one eWallet where will my funds be sent to?

If you have more than one eWallet the funds will always be available in your default eWallet

 

How long does it take for the funds to arrive into my eWallet?

Transfers will normally be credited to your eWallet within 1-2 business days from when you send the funds.

 

I cannot see my transferred funds in my eWallet?

It can normally take up to 1-2 business days before the funds are available in your MiFinity eWallet. If you do not see your transferred funds in your eWallet after 48 hours please feel free to contact us at clientservices@mifinty.com with details confirming evidence of payment. It will be looked into further.

 

Want to learn more about MiFinity?

Check out the MiFinity website and open an account today here.

 

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