You’ve just received and activated your MCO Visa card. However, how do you go about topping it up?
Here is a complete guide on how to top up your MCO card in Singapore.
Table of Contents
How to top up your MCO Card in Singapore
To top up your MCO Card, you will need to go to ‘Card → Top Up‘.
This will bring you to the Top Up page.
There are 2 methods which you are able to top up your MCO card:
- Credit or debit card
1. Credit or debit card
Here are the debit and credit cards that you can use to top up your MCO card:
|Card Type||Available Networks|
|Debit Card||Maestro |
Previously, there was some issues with using a Mastercard to top up your MCO card. However, I believe that this issue has already been resolved.
Some cards such as the BigPay card and Revolut do not allow you to top up to your MCO card as well.
The minimum top up for the MCO card is $20.
If your MCO Visa card is issued in Singapore, you can only top up in SGD. However, you are able to exchange your SGD to 6 other currencies that are also offered by the MCO Visa Card:
Look out for fees
Certain banks may charge you a fee when you are topping up your MCO card using their cards. For example, I was charged a 1% fee when I topped up $20 using my JumpStart debit card.
According to this Telegram group, there may be some issues when you top up with a bank credit or debit card.
I have been using my YouTrip card to top up the MCO card. So far, I have not been charged any fees. This may be one method that you can consider as well.
You can read my comparison between the YouTrip and MCO card to see which is the better multi-currency card.
After selecting the amount to top up, you will usually be asked to input an OTP. After this, your money will be topped up into your MCO’s wallet.
Some issues with top up
There may be some issues with topping up your card from time to time.
This can be rather disruptive when you are trying to top up your card before making a purchase.
You are also able to convert your crypto holdings into fiat currency to spend on your card! There are 4 cryptocurrencies that you can top up your MCO card with. This includes:
The minimum amount to top up your MCO card depends on the cryptocurrency you’re using.
Exchange rate will be locked for 15 seconds
When you want to sell your crypto for fiat currency, the exchange rate will be locked for 15 seconds. Once you’ve exceeded the 15 seconds, you will have to trade at the current exchange rate again.
CRO cannot be used to top up your MCO card directly
You may have noticed that the CRO that you earn as cashback cannot be topped up immediately to your MCO card.
One workaround you can use is to trade your CRO into one of the 4 currencies above.
However, the prices of cryptocurrencies fluctuate a lot. Here is the comparison of the exchange rate between CRO and BTC.
As such, you may lose some of your CRO’s value when you are carrying out the trade.
Another thing you may want to note is that you will need a minimum of 140 CRO to conduct any trade.
No fees are charged when topping up using cryptocurrency
You will not incur any fees when you top up your MCO Visa Card using cryptocurrency. As such, this may be a more cost effective way to top up your card.
Crypto.com wants you to keep your money in their ecosystem
Similar to GrabPay and Singtel Dash, you are unable to withdraw the cash that you’ve topped up to your MCO card. This means that your money is locked into Crypto.com’s ecosystem. As such, you have no choice but to use their card to make payments.
This could be the reason why they do not charge any fees when you are exchanging crypto to fiat currency!
Top up limits for your MCO card
The MCO card is regulated by the MAS under the Payment Services Act. As such, they have placed a limit of $5,000 that you can have in any mobile wallet. Your MCO card wallet will be regulated under this Act as well.
This limit is on your MCO card wallet, and does not affect your Crypto.com wallet. Another thing you may want to note is that this $5,000 limit is inclusive of your non-SGD fiat currencies as well.
Basically, the MAS is trying to regulate the amount of fiat currency you have in the MCO card.
There are 2 main ways which you can top up your MCO Visa Card in Singapore: via debit / credit card or cryptocurrency. Topping up via cryptocurrency may reduce some fees that you may incur with debit or credit card top up.
However with crypto prices being so volatile, you may not top up the amount you intended to.
Another thing that you may want to take note of is the top up limit for your MCO card. You can only have a maximum of $5,000 in your MCO card wallet, inclusive of your non-SGD fiat currencies as well.
MCO Visa Card Referral (Get $25 USD worth of CRO)
If you are interested in signing up for the MCO Visa Card, you can use my referral link. We will both receive $25 USD worth of CRO in our Crypto Wallet.
Here’s what you’ll need to do:
- Sign up for a Crypto account
- Enter my referral code: ‘x2kfzusxq6‘ (if needed)
- Stake at least 2,500 CRO
If you only wish to get the free Diamond Blue card, you will not be able to receive the referral bonus.
By staking 2,500 CRO, you will be eligible to get the Ruby Red Visa card. This will allow you to receive 2% cashback on all transactions, as well as a 100% rebate on Spotify premium!