Frequently Asked Questions (FAQs):

Q.1   What is MBL Rainbow?

MBL Rainbow is a state of the art, robust Mobile phone-based Application or App from Mercantile Bank Limited where banking services are accessible through your Smart phone or Tab from anywhere and anytime. It is amazingly simple, hassle-free and a secure digital banking service that is available to all Mercantile Bank customers and any individual holding a Smartphone in Bangladesh.
 

Q.2   Why should you choose MBL Rainbow?

• This App/Application is completely FREE!
• Just visit “Play Store” for Android and “App Store” for iPhone user and search for MBL Rainbow to download and install.
• It is quite easy & safe, and only takes few minutes to create your own Digital Wallet by using your valid Mobile Number, NID number and email address. You can also get updates on your account information and complete any banking transaction.
• You can perform your on-line banking transactions right from your home, office or anywhere that you feel comfortable by only ensuring your access to internet and the best part is that, you can access all your MBL Bank accounts 24/7, 365 days of the year.
   

Q.3.   Is MBL Rainbow Secured?

MBL Rainbow ensures the highest level of security for registration by verifying the mobile number and 6(six) digit PIN with better combination (see PIN policy below). For digitizing any type of account, there are certain unique security feature which enables better security for you and your account data. Each account is masked with security module for safeguarding your financial data. This system development and implementation process are followed by PCI-DSS and PAA-DSS guidelines along with other international standards. A secured Digital Wallet is provided with every registration. For making the transaction secure, Two Factor Authentication System or 2FA is initiated automatically enabled with nature of transaction by customer. 2FA typically delivered to customer vide SMS.
 

Q.4   Can I open MBL Account?

Yes, all you need is your NID, Nominee’s ID Photo and a Selfie to open an account in 2 minutes.
 

Q.5   I have registered with MBL Rainbow, NID also verified but where is my Bank Account?

If you have bank account with Mercantile Bank Ltd, please add/tag your account with MBL Rainbow:

Add account process:

• Click (+) sign to add account from sweeping left of your Wallet Account Box or from bottom “Account” Navigation.
• Insert your account number maintained with MBL (or you can scan the QR of your cheque for getting the account automatically typed) and press “Continue”.
• An OTP will be generated (you will receive OTP SMS to your mobile no provided during your account, not to the mobile which was used to register MBL Rainbow.
• Insert the correct OTP in the OTP box.
• After Bank Account Verification, your MBL account will be added successfully.

If you don’t have account with Mercantile Bank opening as account is simple and easy MBL Rainbow

Q.6   I have registered and seeing a number starting with 9140*** what is this?
This is your virtual wallet ID against your mobile no. you can add money into it and complete your transaction apart for using your Bank Account.

Q.7   What is the PIN Policy?
PIN policy for MBL Rainbow is made keeping in mind with the blender of security and convenience. PIN containing continues numbers are not allowed, reverse continues numbers are not allowed. Same digit PINs are also not allowed.

Examples of NOT Allowed PIN: 123456 (continues numbers), 987654 (reverse continues numbers), 555555 (same numbers) etc.
 

Q.8   How Can I self-register in MBL Rainbow app?

Please download, install and open the app prior to start of the registration process (ensure your access to internet), registration steps are:

Step 1: Click Register Now

Step 2: Type your mobile number and Click “I agree with Terms and conditions by reading the terms and conditions using MBL Rainbow” then Enter

Step 3: Select your Mobile Operator

Step 4: You will receive an OTP on your Mobile Phone. Enter the code.

Step 5: Set your 6 Digit PIN and type two times (same PIN twice) then Submit (ensure you are following the PIN policy).

Step 6: After getting “Successfully registered” click Continue.

You are now enable to log in to MBL Rainbow app to view dashboard and other functions.

Please Note: You can see your profile in % of completion, not verified, for achieving verified wallet you need verify your profile, you still can receive money from any of MBL Digital Wallet Account, add money from other Bank’s credit cards etc. (where applicable).

Step 7: To fulfill the APP requirements, you must complete the e-KYC and AML (Anti Money Laundering) requirements by clicking “VERIFY NOW” from setting Tab or from ADD Account button.

a) App will ask for camera permissions, once provided, camera enable.

b) Scan front side of your NID

c) Scan back side of your NID

d) After which scanned data will appear on your screen. Check if all the information is correct, choose the edit option (if there are any changes need to be made) and select next to proceed further,

e) Select Gender and Occupation,

f) Take a selfie (own picture by mobile front camera), camera screen will guide you through our AI (Artificial Intelligence) engine.

g) Recheck your whole information and press next (Completed) and continue.

Congratulations! Your wallet is now fully ready, and you can find your MBL Rainbow home dashboard.

Step 8: System will verify your given data through NID Server to activate your Wallet. After activation, your profile will be act as verified profile. You will find your wallet fully ready to use which will then enable you to add your MBL Account no, Agent Banking and so on.
Step 9: Adding MBL Bank Account:

• Click (+) sign to add account from sweeping left of your Wallet Account Box or from bottom “Account” Navigation.
• Insert your account number maintained with MBL (or you can scan the QR of your cheque for getting the account automatically typed) and press “Continue”.
• An OTP will be generated (you will receive OTP SMS to your mobile no provided during your account, not to the mobile which was used to register MBL Rainbow.
• Insert the correct OTP in the OTP box.
• After Bank Account Verification, your MBL account will be added successfully.

Q.9   What are my Transaction Limits?

 

Q.10   I have provided Old NID number during Account Opening. Can I register with Smart NID?

Yes, for adding account into MBL Rainbow you need to update your new NID no into core banking system by calling 16225 or sending email to digital.banking@mblbd.com

 

Q.11   What are the mandatory documents for registration in MBL Rainbow?

You are required to provide your NID images (both side) for MBL Rainbow registration.

Q.12   Can I use two devices for the same wallet account? Or with same mobile number can I have multiple devices?

No, only one device is allowed at a time, changing device is always easy and secured.

Q.13   How Can I Log-in to my MBL Rainbow Wallet to a new device? Or How Can I change my device?

You can Log-in to your MBL Rainbow wallet either into your existing device or by your mobile number by change device request with the following steps:

1. Install MBL Rainbow App into your new device.

2. Open your MBL Rainbow Wallet.

3. Insert your registered mobile number (first time only, onward login will not be required to enter your mobile number since the system automatically remember your number).

4. Insert your PIN.

5. Insert your OTP.

6. If OTP matches then system will automatically enter to your wallet dashboard.

7. Your old device will automatically will be disabled and inaccessible to MBL Rainbow.

Q.14   How can I recover PIN if I forget it?

Please follow the steps to reset your PIN:

Step 1: Click forgot PIN option

Step 2: A page will appear to get OTP. You must Call 16225 to get OTP for resetting your PIN. You will need to provide information to verify by Contact Center Executive.

Step 3: You will receive an OTP at your registered Mobile Number once verified by our contact center executive.

Step 4: Enter OTP (OTP will be automatically filled in OTP option)

Step 5: Enter new PIN (6 Digit)

Step 6: Confirm the same PIN (6 Digit)

Step 7: Press continue

You will get a successful POP UP message for PIN reset.

Q.15   Can I Tag Multiple Accounts and check the balances of multiple wallets through MBL Rainbow?

Yes, you can check your wallet balance immediately after registration.

The below are the steps through which you can view the balance.

• To check the wallet balance, you need to click on the “Tap for Balance” button.
• Initially you will get only MBL Rainbow wallet. However, to tag or add more Account(s) you will have to click (+) sign and insert Account number. This will enable the system to generate an OTP if the Account number is correct. Insert the OTP to successfully add your new account.
• To check MBL Rainbow tagged multiple accounts, you need to swipe from right to left.

Q.16   Can I add my MBL Current, Savings and Other account(s) in MBL Rainbow?

Currently only individual savings account can be added into MBL Rainbow App, gradually you can add other accounts as well. For current account we have other prescribed registration process which can only be done through manual verification.

Q.17   What are the services available in MBL Rainbow?

1. Funds Transfer Facilities:

• From your MBL account to your MBL Rainbow Wallet
• From MBL Rainbow Wallet to other bank’s account through Electronic Fund Transfer (EFT)
• From Wallet to Wallet
• Wallet to Agent Banking account.
• Agent Banking account to Wallet

2. Make Online/e-Commerce Payments

3. Mobile Recharge

4. Payment of Insurance Premium: Rupali, Zenith.

5. Other bank fund transfers through BEFTN.

6. Utility Bill Payment: DESCO, DPDC, BTCL, TITAS, WASA etc.

7. QR cash withdrawal from branch/ Agent point of Agent Banking

8. Account balance list.

9. 10 Transaction List

10. PIN Change

11. Bangla/English language

12. Search ATM/Branch at google Map.

13. Get other accounts (Deposit + loans) balance.

To make payment, you can use your MBL Rainbow wallet or Account associated with your wallet.

Q.18   What are the Enquiries available in MBL Rainbow?

Following Enquiries are available now:

• Own Balance check

• Own Account’s Information.
• Own Transaction lists of Accounts
• Account Tagging Information.

 

Q.19   What is the Fee/Charge for using MBL Rainbow?

Registration and use of MBL Rainbow is free for individual customers. Please refer to our schedule of charges published at our website.

Q.20   Can I transfer Balance from MBL Rainbow to other accounts or wallets?

Yes, you can transfer fund from your MBL Rainbow wallet to another MBL Rainbow wallet.

Q.21   What is Wallet to Wallet Transfer?

Wallet to Wallet transfer is the transfer of fund from one MBL Rainbow Wallet to another MBL Rainbow Wallet.

Q.22   How can I make fund transfer from MBL Rainbow wallet to another MBL Rainbow wallet?

You need to follow the following steps to complete the transfer:

• Step 1: Select “MBL Rainbow wallet” from app home page
• Step 2: Select The Fund transfer option
• Step 3: Select Receiver MBL Rainbow Wallet/Own Account from “Transfer Fund to”
• Step 4: For selecting MBL Rainbow wallet- Enter 11 digit mobile numbers.
• Step 5: Enter amount
• Step 6: Enter PIN number
• Step 7: Tap and hold for confirming the transaction

Note: Larger transaction amount will require One Time Password (OTP)

Q.23   Where can I make payments using MBL Rainbow?

You can buy goods/services from MBL registered physical and online merchants as per the Merchant List available in MBL Website under MBL Rainbow. For this purchase, you need to debit your account or MBL Rainbow wallet.

Q.24   How will I know whether transaction is completed or not?

You will instantly get application screen containing the successful transaction details. Also you will get SMS notification in your registered mobile number after every transaction.

Q.25   Why do I need QR (Quick Response) Code?

You can shop by scanning the QR (Quick Response) code at all participating shops. And withdraw cash by scanning QR code from Branches and Agent Outlet.

Q.26   Is my QR (Quick Response) Code safe?

Yes, your QR code is very safe and secure.

Q.27   What is the Reversal Process for Mobile Recharge Disputes?

Fund will be automatically credited to Wallet or Account for an unsuccessful transaction. You can call our 24/7 Call Center at 16225 to get the support from our agent.

Q.28   How will I pay utilities bill from MBL Rainbow wallet? What is the reversal process for disputes?

You need to follow the following steps to complete the payment process:

• Step 1: Select “MBL Rainbow wallet” from app home page and login.
• Step 2: Select the Utilities Company for which you want to pay bill.
• Step 3: Enter your bill no/account number/identification number etc. Your bill amount will show on the screen.
• Step 4: Enter PIN number.
• Step 5: Tap and hold for confirming the transaction.

Note: Larger transaction amount will require One Time Password (OTP)

Q.29   What should I do if I lose my mobile set? Is my MBL Rainbow account safe?

You should immediately call our Call Center and block your previous account.

Q.30   What should I do if I face problems while using MBL Rainbow?

You can call our 24/7 Call Center at 16225 to get the support from our agent. Or you can email us at digital.banking@mblbd.com

Q.31   Who can open MBL Rainbow wallet?

- Bangladeshi National
- Having valid National ID
- Active registered mobile number

- Smart mobile phone (android 6.0 or later, iPhone)

Q.32   Do I need mobile phone for using MBL Rainbow wallet?

Yes you need a smart phone having android or iOS operating system

Q.33   Do I need buy new SIM card for opening MBL Rainbow wallet?

NO, you don’t need to open bank account for MBL Rainbow wallet, but if you have MBL bank account then you can get facilities for Bank account related details along with transactions.

Q.34   Do I need to open a MBL bank account for MBL Rainbow wallet?

NO, you don’t need to open bank account for MBL Rainbow wallet, but if you have MBL bank account then you can get facilities for Bank account related details along with transactions.

Q.35   How long does it take to complete a transaction?

Usually it takes less than one minute if your internet connection is ok