AirAsia have recently introduced their ezpaypassport multi-currency card, (ezpay card) issued by AirAsia associated company Tune Money, in conjunction with MasterCard.
With no Annual Fees and a number of other handy benefits, I went out and got myself one. Here’s the lowdown:
What is the card offering?
- Load the card in Malaysian Ringgit, change to 7 different currencies when travelling.
- Currently available currencies are USD, EUR, GBP, AUD, SGD and JPY.
- Please note** JPY has been removed as at 28th December 2015. If you have not received a refund credited into your MYR e-wallet by 8th January 2016 , please contact them HERE or check the conditions page, HERE.
- Lock in Exchange rates at the time you convert.
- No Foreign Exchange Fees (although Network Charges as determined by MasterCard International will apply).
- Access by Internet, instantly check balances or upload more credit.
- Savings on AirAsia Processing Fees when purchasing tickets and services.
Who can get one?
As the base card is denominated in Malaysian Ringgit, you need to be a Malaysian resident.
How do I apply?
You will need to have these ready
- your email address (get your password ready, it must be a mix of letters and numbers with at least one Capital)
- Your IC number / Passport number
- Your phone number
- Photo ID – a photo or scan of your drivers license will do.
- An online bank account at CIMB, Maybank, HLB, Public Bank or RHB to upload credit.
Once you receive your card you will need to activate it online and change your password.
Are there any charges?
- If you opt for SMS Alerts, there are charges for the service.
- Overseas transactions at merchants accepting MasterCard attract a Network charge but exchange rates are already fixed as you pay in the local currency.
How can I use the card overseas?
- Load your card with the amount you want to spend, in Malaysian Ringgit.
- Convert the amount you require to the foreign currency.
- You can upload and convert online wherever you have a secure connection.
- Check your balance online and if your card is lost or stolen you can put either a temporary (lost) or permanent block (stolen) on the card.
To withdraw cash overseas:
- Look for an ATM displaying the MasterCard brand mark.
- Your transaction is treated like a purchase transaction, where the transaction amount is checked against your available balance in that currency.
- If there is sufficient balance, then it will be deducted from that currency wallet.
- If there is insufficient balance, then it will default to the MYR wallet for deduction. (Make sure you have sufficient MYR balance)
- The Overseas ATM withdrawal fee is the equivalent of RM10.00 or 2% of withdrawal amount, whichever is higher.
- You will need to use the PIN that has been sent to you within 30 days of receipt of your card.
Is it worth getting one?
Depends how you plan to use it.
- If you prefer to pay upfront for your air tickets you will save on transaction fees (charged per passenger, per sector) and gain a small discount on meals at baggage booked at the same time as the tickets (you won’t get this later through ‘Manage my Booking’.
- If you also have an AirAsia BIG Card you may prefer to collect BIG Points which you can redeem later. The ezpay passport doesn’t get you any BIG Points.
- If you prefer to pay for your tickets using a credit card, you can collect points on your BIG Card if you have one and keep the ezpay passport to carry your foreign currency more securely than in a money belt.
We’ll let you know how it performs in the field as soon as we’ve ‘road-tested’ our ezpay card. For more information, check the AirAsiaezpay website.