The MuchBetter payment app is issued and operated by MIR Limited UK Ltd, a company licensed and regulated as Electronic Money Institution (EMI) by the FCA, United Kingdom.
Mastercard and the Mastercard Brand Mark are registered trademarks of Mastercard International Incorporated. The MuchBetter Card is issued by Wirecard Card Solutions Ltd (“WDCS”) pursuant to licence by Mastercard International Inc.
WDCS is authorised by the Financial Conduct Authority to conduct electronic money service activities under the Electronic Money Regulations 2011 (Ref: 900051).
Simply unfreeze it in the app to reactivate it.
The three digit number on the back of your card is generated separately for every purchase.
Even if someone gains access to your card they will be unable to use it.
For every transaction you get an instant notification to your phone.
To open a MuchBetter account you simply download our app from the Apple or Google app store. Search for MuchBetter. Once you have installed the app, you will be guided through a quick registration process. This will open an account with us. We always encourage our customers to complete the full registration with customer verification to enjoy all services MuchBetter offers.
Please note that we can only open your account if you supply us with accurate and true personal details and valid phone number. In some countries we are unfortunately not able to offer our service. Please see the list of supported countries here
During the registration process we will be asking you for the following details:
Our system will always notify you on each step and take you through the process smoothly.
As a regulated Financial Institution (e-money), we are obliged to identify our customers before offering certain services. A basic set of services and up to a sensible overall spending limit is available to all customer right after registration. Services such as sending money to other MuchBetter accounts, applying for a free, contactless Mastercard® or withdrawing money from your MuchBetter account require us to verify and validate your identity.
We are using an automated identification service. We hope the simplicity of going through the process will take away some of the hassle experienced with old-school customer identification procedures.
The mobile number turns into your MuchBetter account number and is the one most important detail to remember as you would need to use it when making a payment online.
We ask you for your email address to be able to communicate with you and have a contact on file for our support team should you be reaching out with inquiries.
We also email you some of the rewards and gifting products that you might choose within the app to your email address. As these can be of real-money value, it is important to ensure we have the correct email address on file.
Once you have registered, you simply use the 4-digit Passcode that you selected to access your account or (if enabled) use the Touch-ID function on your phone (Fingerprint).
To fund your account you can deposit with the displayed payment options. Usually you will see Credit and Debit Card option and bank transfer as a minimum selection. In many countries we offer relevant and popular additional deposit methods. Just check your app by clicking on “Top-up” to see the available deposit options for you.
We distinguish between two account types depending on your verification status.
Customers that have not yet been ID-verified can use the account up to a maximum of EUR 2,500 (GBP 2,000) maximum loading and spending. Once the limit has been reached, we would contact you and ask you to complete the verification process to keep using your MuchBetter account.
Customer that then are fully ID-verified have higher limits. There are loading limits by different loading option and frequency, there is a maximum account balance and limits for spending through the card or wearable. It is easiest to check your limits within your account.
These acronyms relate to banking details. If you want to deposit funds into your MuchBetter account by bank transfer, and depending of your bank’s location you would need certain account details to do so. You would need to know our Account number and sort code when you are customer in the UK wanting to fund your MuchBetter account. In the SEPA region you would be using IBAN and BIC to transfer funds to MuchBetter. We always communicate these details to you whenever you want to fund your account. We need to ask you for your banking details if and when you like to withdraw available funds from MuchBetter to your bank account.
You can send money to any mobile number in Europe. If the recipient does not have a MuchBetter account, they will be asked to download the app and register. As soon as this is completed, the transferred amount is credited to the recipient's MuchBetter account.
We are a young company and our MuchBetter service has just launched. As such it simply takes time to reach world-domination! We are constantly adding new supported countries. We make frequent announcements on our website, newsletters or within the app. You can also contact our support to inquire and get a current list of supported countries (firstname.lastname@example.org)
Anyone that is able to register with MuchBetter can send money to family and friends.
There is a number of answers to this question – the amount you are able to send can never exceed the available balance in your MuchBetter account.
We apply certain limits for different customer groups. The limits are visible within your MuchBetter account and dynamically adapt with your activity.
If you send money from your MuchBetter account, we process it instantly. If the recipient has a fully-verified MuchBetter account already, they will receive an instant notification of the incoming funds and get credited at the same time.
If a recipient does not yet have a MuchBetter account, we credit the recipient as soon as he has registered and completed the automated verification process with us.
It is easy to send a money request to friends. The person you send the request to needs to be a MuchBetter customer and have an active MuchBetter account.
Choose the “Request Money” function within the MuchBetter account, enter or select the appropriate mobile number of the person you want to request money from, enter the amount and a relevant text that you want the recipient to see. We submit your request to the recipient and keep you updated on any responses. If a request is accepted by the recipient, then we instantly transfer the funds from their account to yours.
In general you can refer to our fee table here to understand what fees we charge for our services. But the good news is: sending and requesting/receiving money with your MuchBetter accounts and making payments to merchants with the account, wearable and Prepaid Mastercard® are free!
Online Merchants that accept MuchBetter will ask you for your mobile phone number during the payment process. Your mobile number is your MuchBetter account number. Based on this we can locate your account, authorise the payment, ask you to confirm the transaction on your app and successfully transfer the funds to the merchant. All transactions are confirmed with a receipt. The payment amounts are deducted from your MuchBetter account balance in real-time.
Please refer to our fee table here