Cooling-Off Period: Keeping Your eWallet Safe

At Merchantrade Money, your security is our top priority.

To keep your eWallet safe from scams and fraud, we’ve introduced the Cooling-Off Period — a short waiting period before certain changes take effect.

It’s a small pause that makes a big difference in keeping your money safe.

What is the Cooling-Off Period?

The Cooling-Off Period is a fixed wait time that applies when you:

  • Register a new Merchantrade Money account
  • Switch to a new device
  • Increase your transaction limits (DuitNow or payWave)

This extra step helps stop scammers from making changes to your account without your permission.


Why We Have It

Fraudsters often try to:

  • Take over accounts
  • Raise transaction limits for big, unauthorized transfers

The Cooling-Off Period gives you time to react. You can:

  • Call our Customer Care hotline
  • Use the Kill Switch in the app to block your eWallet instantly

 

How Long is the Cooling-Off Period?

For New App Registrations:

  • KYC registrations (Face-to-Face at a branch / with any of our sales team): 1 hour
  • e-KYC registrations (In the App): 12 hours

During this time, you can log in but can’t make payments or transfers until the period ends.

When You Switch Devices

  • 12 hours before your new device is ready to use
  • Call Customer Support to complete the setup on your new device
  • You can still use your old device while waiting

When You Increase Transaction Limits

Applies to DuitNow (transfer & payments) and payWave limit increases only.

  • 12-hour cooling-off period
  • You can still transact up to your previous limit until it ends
  • No waiting period if you lower your limits

At a glance

 

Changing Your Limit During Cooling-Off

If you increase your limit again while a cooling-off period is already active, the timer restarts.

Example:

  1. Limit = RM1,000
  2. Increase to RM2,000 → cooling-off period starts
  3. Before it ends, change to RM1,500 → new cooling-off period starts from that time

 

 

Stay Protected, Stay In Control

Think of the Cooling-Off Period as your safety buffer. It gives you valuable time to stop unauthorized changes and keep your eWallet secure.

Need help? Chat with us in the app or call our Customer Care team anytime.

Discover more ways to keep your eWallet safe. Check out these guides: