Question 1

What is a Multicent digital account?

Accepted Answer

Like everything else at Multicentbank, Multicent digital account was designed for everyone, built for stock and cryptocurrency investor, for people who wants transparent, simple banking services without abusive fees. It was created to redefine the way in which you manage your money. To fulfill this role, Multicent digital account:

— Has no annuity or maintenance fees;

— Automatically gives daily returns that are better than a savings account, from the moment you make a deposit;

— Offers free and unlimited transfers to any bank;

— Includes a card with a debit option so you can make purchases or cash withdrawals.

— Allows payment of power, water, and telephone bills, and even online purchases.
 
— Allows you to invest in more than 500 stocks worldwide and buy, sell, store and trade Cryptocurrency with commision free.

Question 2

Is Multicent digital account a checking or savings account?

Accepted Answer

The most accurate term to define Multicent digital account is "Payment Account." This is because Multicent is a financial technology services institution and not a bank. For the same reason, our card with the debit option is not technically a debit card, because, despite offering the same functionally, a true debit card can only be offered by a bank and connected to a deposit account.

Question 3

Can I use my deposit to invest in stocks, options, and ETFs?"

Accepted Answer

Yes. As soon as you open a digital account and your deposit lands in your digital account , we will  automatically open a brokekage account for you to start investing in stocks right from your smartphone. you can start trade stocks, options, or ETFs through your brokerage account. You can also use the deposit to purchase crypto through your Multicent digital Crypto account. These deposits include transfers using a pre-linked account or using your ACH account number.

Question 4

Can I sell stock and use the money to make purchases with my debit card?

Accepted Answer

Yes. When you sell stock, options, or ETFs through your brokerage account or sell crypto through your Crypto account, you can use that money to make purchases with your debit card. Keep in mind that your order must execute before you can use the funds elsewhere, which for stocks, options, and ETFs can only happen during market hours.

Question 5

Will I have my credit card approved if I have a Multicent account?

Accepted Answer

Our credit analysis is based upon publicly available information and as well as Multicent’s internal criteria and objectives. We generate an internal score that lets us determine which user profiles best meet our operational capacity at this time.

Being a customer of our digital account does not guarantee the release of the credit card, but it can help your case. Using the Multicent account, our digital account, can help us to know more about the customer's profile when evaluating the card.

If you do not receive approval for your credit card it means that we are currently unable to approve your purple card. However, it does not mean that you have any outstanding issues with your credit history or profile. It is simply due to the lack of information available about who is applying for the card.
The Multicent account has no maintenance fees, offers free and unlimited transfers and a higher interes rate than a regular savings account and allow you to trade any choice of stocks and cryptocurrency

Question 6

Reward: Can any purchase be erased?

Accepted Answer

We try to understand what purchases are of most interest to all of our users and, in order to be able to offer more benefits, we decided to focus on a few categories and services, such as restaurants, trading stocks, buying and selling of Cryptocurrency, Netflix, Uber, Amazon, iFood, music streaming services, and any hotel or airline.

Question 7

Can I cancel my Multicent Rewards membership at any moment?

Accepted Answer

Yes! On the home screen click on your name and then on "Configure Rewards" and select "Cancel". The points you've accrued will be cancelled with your membership, so we recommend you use them before leaving the program. Remember that you can return to the program whenever you want. Just tap the Multicent funds Rewards icon on the app's home page and sign up again! But this time you won't get 30 days free.

Question 8

Why do I need a smartphone?

Accepted Answer

We designed our products, right from the initial registration, to be as simple and secure as possible, and this is only possible by using several technological resources that only a smartphone has. For exemple, for the initial registration, we have to access your smartphone camera. Besides that, other important functionalities, such as real-time monitoring of your expenses, your credit card limit, and your account's daily returns are also only possible with this type of device.

Question 9

How does Multicent make money if it doesn’t charge fees?

Accepted Answer

Good question! Multicent is a Fintech Digital investment banking, make money through the IPO company trading on our platform, we also make money whe  you buy, sell and store and in cryptocurrency. With the personal credit card we make money two ways: When a customer makes a purchase with the credit card, the establishment where they make the purchase pays us a small percentage of the amount through the Mastercard network; and when a customer decides to pay part or all of their bill in installments, we receive interest, even if it's below market interest rates. We also profit from the interest paid in the lending operations.

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