9 Using Multi-FX Cards

Multi-FX cards in Thredd Portal: Cards and Transaction Management contain multiple wallets where each has a unique currency. This enables a cardholder to make payments from a wallet in a currency which offers the best exchange rate. Multi-FX cards are useful for a variety of products that depend on currency exchange, such as international travel payments or multi-region card apps.

You can perform the following Multi-FX card functions:

The Multi-FX card functionality is only available for card programmes that use the Mastercard scheme.

9.1 How Multi-FX Transactions Work

A Multi-FX card enables a cardholder to select a wallet of a specific currency when making a transaction. As a Multi-FX card includes a main or primary wallet, any amount paid in another currency is seamlessly converted back to the default base currency of the primary wallet. If a cardholder uses a Multi-FX card in a currency that is not supported by any of the wallets, the amount is deducted against the default base currency.

For setting up a Multi-FX card, you should consider the following:

  • Foreign Exchange Rates: You can use the rates of a third-party currency service through the Apply FX Rate web service. Alternatively, you can use Mastercard base rates.

  • Base Currency: A Multi-FX card always includes a base currency. This is the local currency of the country where the card is issued. It is also the currency of the primary wallet.

  • BIN Configuration: A 6-digit BIN contains a single Multi-FX product consisting of one base currency and up to 4 additional wallet currencies. You can also set up additional individual currency card products under the same BIN.

9.2 Searching for a Multi-FX Card

To search for a Multi-FX card:

  1. Enter the card token of the MFX card. See Searching for a Card.
  2. To use additional criteria, enter card search options. See Search for a Card Using Additional Criteria.

  3. Select an entry. A Multi-FX card shows the View Currency Wallets option. This option is only available for Multi-FX cards.

9.3 Viewing a Multi-FX Wallet

A Multi-FX card includes a primary wallet of a currency and up to four additional wallets currencies. Each wallet has details of the actual and available balance, the blocked amount, and the currency.

To view a Multi-FX wallet:

  1. Click View Currency Wallets and choose an individual currency for the wallet. Details of the Actual Balance, Available Balance, and Blocked Amount appear on the screen.

  2. To view all wallet details, click View Currency Wallets and See All Wallet Details. Details of all other wallets, including the currencies, Actual Balances, Available Balances and Blocked Amounts show on the screen. The active wallet, which is the last wallet that you selected, also shows on the screen.

9.3.1 Auto-Transfer

The Auto-Transfer option appears on the screen for all currency wallets if the option was selected on the PSF when setting up Multi-FX. This option allows funds to be automatically transferred from the primary to the selected wallet if there is not enough money in the target wallet. If Auto-Transfer is not selected, the primary wallet does not add funds to the currency wallet. The cardholder must ensure that they have the funds available in the wallet for the transaction to proceed.

For setting up Auto-transfer, or for changing the current configuration, contact the Implementations team.

9.4 Searching for Multi-FX Card Transactions

To search for transactions on a Multi-FX card:

  1. Perform a transaction search that includes Advanced Transaction Search options.
    1. To search by a specific currency, select it from the Currency drop-down. Alternatively, skip this option to search by all currencies.
    2. Select MFX in the Card Type list.

  1. Click Search. Transactions of the Multi-FX card type appear.

9.5 Performing Card Actions

You can perform various card actions from the primary wallet, as well as from the non-primary wallet (see Performing Card Actions on Wallets (Non-Primary).)

As the primary wallet is the main wallet, you can also perform the same card actions as you can on any other type of card. For more details, see Performing Card Actions.

9.5.1 Transferring Funds from the Primary Wallet

The primary wallet of the Multi-FX card allows you to transfer funds to the non-primary or destination wallet.

To transfer funds from the primary wallet:

  1. Ensure that you have selected the primary wallet from the View Currency Wallets list.

  2. Click Card Actions.

  3. Select the Wallet Transfer option. The Wallet Transfer window appears.

  4. Select the base currency from the Transfer from: list.

  5. Select the currency of the destination wallet in the Transfer to: list.

  6. Enter credit or debit amounts.

    1. For a debit, enter or select a value from the arrow buttons in the Debit Amount field.

    2. For a credit, enter or select a value from the arrow buttons in the Credit Amount field.

  7. Click Next. The Wallet Transfer screen appears as shown in the following example:

  8. Review the details of the transfer, and click Save.

9.5.2 Performing Card Actions on Wallets (Non-Primary)

You can perform the following card actions on non-primary wallets including:

  • Balance Adjustment

  • Card load/unload

  • PIN and CVC2 services

To perform card actions:

  1. Click View Currency Wallets.
  2. Select a currency wallet.
  3. Click Cardholder Actions.
  4. Select either:

    1. Balance Adjustment

    2. Card load/unload

    3. PIN and CVC2 services