Frequently Asked Questions (FAQs):

Q1. What is MBL Rainbow?

MBL Rainbow is a state-of-the-art mobile application from Mercantile Bank that allows customers to access banking services anytime, anywhere, using their smartphones or tablets. It's a simple, convenient, and secure digital banking service available to all Mercantile Bank customers and any individual in Bangladesh with a smartphone.

Q2. Why should I choose MBL Rainbow?

MBL Rainbow is completely free to download and install from the Play Store (Android) and App Store (iPhone). Registration is quick, easy, and secure, requiring only a valid mobile number, NID number, and email address. It provides real-time account information and enables various banking transactions from the convenience of your home, office, or anywhere with internet access. Enjoy 24/7 access to your Mercantile Bank accounts, 365 days a year.

Q3. Is MBL Rainbow secure?

MBL Rainbow prioritizes security. Registration requires mobile number verification and a 6-digit PIN (see PIN policy below). Account digitization incorporates unique security features to protect your data. All accounts are protected by a security module, and the system adheres to PCI-DSS and PAA-DSS guidelines, along with other international standards. A secure digital wallet is provided upon registration. Two-Factor Authentication (2FA), typically via SMS/Email, is automatically enabled for transactions, adding an extra layer of security.

Q4. Can I open a Mercantile Bank account through MBL Rainbow?

Yes, you can open an Individual Simplified Savings Account in just two minutes using your NID, nominee's ID photo, and a selfie.

Q5. I've registered with MBL Rainbow and verified my NID, but where is my bank account?

If you have an existing Mercantile Bank account, you need to link it to MBL Rainbow:

1. Tap the (+) sign to add an account (accessible by swiping left on the Wallet Account Box or via the "Account" navigation at the bottom).
2. Enter your Mercantile Bank account number (or scan the QR code on your cheque) and tap "Continue."
3. An OTP will be sent to the mobile number associated with your bank account (not necessarily the one used for MBL Rainbow registration).
4. Enter the OTP.
5. Your Mercantile Bank account will be successfully added after verification.

If you don't have a Mercantile Bank account, you can easily open one through MBL Rainbow

Q6. I've registered and see a number starting with 9140*. What is this account?

This is your virtual wallet ID, linked to your mobile number. You can add funds to it and use it for transactions, in addition to your bank account.

Q7. What is the PIN policy?

MBL Rainbow's PIN policy balances security and convenience. PINs with consecutive numbers (e.g., 123456), reverse consecutive numbers (e.g., 987654), and repeating digits (e.g., 555555) are not allowed.

Q8. How do I self-register in the MBL Rainbow app?

1. Go to Google Play Store or Apple App Store and Search for ‘MBL Rainbow’
2. Download, install, and open the app.
3. Tap "Register Now."
4. Enter your mobile number and agree to the terms and conditions.
5. Select your mobile operator.
6. Enter the OTP sent to your phone.
7. Set a 6-digit PIN (twice, adhering to the PIN policy).
8. Tap "Continue" after successful registration.

Q.9   What are the transaction limits?

 

Q10. I used my old NID number during account opening. Can I register with my Smart NID?

Yes, you need to update your new NID information in the core banking system by calling 16225 or emailing contact@mblbd.com.

Q11. What documents are required for MBL Rainbow registration?

You need to provide images of both sides of your NID.

Q12. Can I use the same wallet account on two devices?

No, only one device can be used at a time. Changing devices is simple and secure.

Q13. How do I log in to my MBL Rainbow wallet on a new device?

1. Install MBL Rainbow on your new device.
2. Open the app.
3. Enter your registered mobile number (only the first time).
4. Enter your PIN.
5. Enter the OTP.
6. Your old device will be disabled.

Q14. How can I recover my PIN if I forget it?

1. Tap "Forgot PIN."
2. Call 16225 to request an OTP for PIN reset (you'll need to provide verification information).
3. Enter the OTP.
4. Set a new 6-digit PIN (twice).
5. Tap "Continue."

Q15. Can I link multiple accounts and check their balances through MBL Rainbow?

Yes, you can check your wallet balance immediately after registration. To add more accounts, tap the (+) sign and enter the account number. After OTP verification, the account will be added. Swipe from right to left to view the balances of multiple linked accounts.

Q16. Can I add my MBPLC current, savings, and other accounts to MBL Rainbow?

Currently, only individual savings accounts can be added by the customer. Current accounts require a separate, manual verification process.

17. What services are available in MBL Rainbow?

MBL Rainbow offers a wide range of services, including:

• Fund Transfers:
  • MBPLC account to MBPLC Rainbow wallet
  • MBPLC account to other bank accounts via EFT (BEFTN, RTGS, NPSB)
  • MFS fund transfers (bKash, Nagad)
• Payments:
  • Online/e-commerce payments
  • Mobile recharge
  • Insurance premium payments (Rupali, Zenith)
  • Utility bill payments (DESCO, DPDC, BTCL, TITAS, WASA, etc.)
  • Credit card bill payments
  • Automated Challan Payment (A-Challan)
  • BanglaQR Payment
• Other Transactions:
  • QR cash withdrawal from branches/agent points
• Account Management:
  • Account balance check
  • Transaction history
  • PIN change
  • Balance check for other accounts (deposits and loans)
• Convenience Features:
  • Bangla/English language support
  • ATM/branch locator (Google Maps)

You can use your MBPLC Rainbow wallet or linked bank account for payments.

Q18. What inquiries are available in MBL Rainbow?

• Balance check
• Account information
• Transaction history
• Account linking information

Q19. What are the fees/charges for using MBL Rainbow?

Refer to the schedule of charges on the Mercantile Bank website for details.

Q20. Can I transfer funds from MBL Rainbow to other accounts or wallets?

Yes, you can transfer funds from your MBPLC Account to MBPLC Rainbow wallet or Account.

Q21. What is a wallet-to-wallet transfer?

It's a fund transfer from one MBL Rainbow wallet to another.

Q22. How do I transfer funds from my MBL Rainbow wallet to another MBL Rainbow wallet?

To transfer funds between MBL Rainbow wallets, follow these steps:

1. Select "MBL Rainbow wallet" on the app's home page.
2. Choose the "Fund Transfer" option.
3. Select "Receiver MBL Rainbow Wallet" from the "Transfer Fund to" menu.
4. Enter the recipient's 11-digit mobile number.
5. Enter the transfer amount.
6. Enter your PIN.
7. Tap and hold to confirm the transaction.

Q23. Where can I use MBL Rainbow for payments?

You can purchase goods and services from MBL-registered physical and online merchants listed on the Mercantile Bank website under "MBL Rainbow." Payments can be made from a linked bank account/card.

Q24. How do I know if a transaction is complete?

Upon successful completion, the app will display a confirmation screen with transaction details. You will also receive an SMS/Email notification at your registered mobile number/Email.

Q25. Why do I need a QR (Quick Response) code?

QR codes enable quick and easy transactions. You can use them for shopping at participating merchants and for cash withdrawals at Mercantile Bank branches/outlets.

Q26. Is my QR code secure?

Yes, your QR code is safe and secure.

Q27. What is the reversal process for mobile recharge disputes?

In case of an unsuccessful transaction, the funds will be automatically credited back to your wallet or account. For further assistance, contact our 24/7 Call Center at 16225 or email us at digital.banking@mblbd.com.

Q28. How do I pay utility bills using MBL Rainbow? What is the dispute reversal process?

To pay utility bills:

1. Select "MBL Rainbow Account" on the app's home page and log in.
2. Choose the utility company you wish to pay.
3. Enter your bill number, account number, or identification number. The bill amount will be displayed.
4. Enter your PIN.
5. Tap and hold to confirm the transaction.

Q29. What should I do if I lose my mobile phone? Is my MBL Rainbow account safe?

Immediately contact our Call Center to block your account. Your MBL Rainbow account is secure, but blocking it prevents unauthorized access.

Q30. What should I do if I encounter problems using MBL Rainbow?

Contact our 24/7 Call Center at 16225 or email us at digital.banking@mblbd.com.

Q31. Who can open an MBL Rainbow wallet?

• Bangladeshi citizens
• Individuals with a valid National ID card
• Active, registered mobile number holders
• Smartphone users (Android 8.0 or later, iPhone)

Q32. Do I need a mobile phone to use MBL Rainbow wallet?

Yes, you need a smartphone with an Android or iOS operating system.

Q33. Do I need to buy a new SIM card to open an MBL Rainbow wallet?

No, you can your existing SIM card to open MBL Rainbow wallet.

Q34. Do I need to open a Mercantile Bank account to use an MBL Rainbow wallet?

No, you do not need a bank account to use the MBL Rainbow wallet. However, having a Mercantile Bank account enables access to account-related details and transactions within the app.

Q35. How long does a transaction typically take?

Transactions usually take less than a minute, provided you have a stable internet connection.