MuchBetter Review – Overview
In this article you will find a detailed review of MuchBetter, as well as how to register your own new MuchBetter account and how to successfully pass verification. You will also find an overview of MuchBetter’s security, the fees & limits, and information about their Mastercard and Mobile App.
After registering and verifying your account you will be able to enjoy benefits such as increased limits, a free MasterCard, and a device for contactless payments, as well as personal support from eWallet-Optimizer and much more.
MuchBetter + eWO
After signing up MuchBetter with eWO, you will enjoy many additional benefits. The moss important one for most of our clients will for sure be our cashback program where you will earn 0.30% cashback for all your net-deposits.
In addition you will join the eWO Loyalty Program and you have access to our MuchBetter Sub-Affiliate program to refer new clients yourself and earn commission for their deposits. You will also have access to all upcoming and future benefits we are developing of course.
Please contact us if you still have any questions about MuchBetter after reading this article. We are here to help.
Pros & Cons
Very low fees.
FREE p2p transfers.
Convenient & secure mobile app.
Availability in popular merchants
MasterCard only for the EU.
No VIP program.
0.30% eWO Cashaback
Join the eWO Loyalty Program.
Access to eWO MuchBetter Affiliate Program.
Additional & personal Support – 365 days a year.
MuchBetter Review – Facts & History
The MuchBetter app is a fairly new payment solution designed to make eWallet transactions easier. Since it was founded, more than 550 Merchant partners added it as a deposit and cash-out option. It can be comfortably used for storing, sending and moving money. MuchBetter offers its services to users from all over the world and only a few countries are excluded.
The UK payments company MuchBetter was founded in 2016 are licensted by the FCA (same as other eWallets) and is under the jurisdiction of the United Kingdom as an authorized issuer of electronic money.
MuchBetter Review – Awards
Over the past few years, MuchBetter has received many awards, including:
- SBC Awards 2019: Mobile Payment Solution of the Year.
- Emerging Payments Awards 2019: Most Innovative Mobile or Financial Service Payments Solution.
- MPE Awards 2019: Best Startup Innovation Award.
- The Cards & Payments Awards 2019: Best Alternative or Digital Payments Programme.
- Payments Awards 2018: Payment Innovation of the Year.
- EGR Awards B2B 2018: Services Rising Star.
MuchBetter Review – Registration
Registering an MuchBetter Account is quick and simple with eWallet-Optimizer. Just follow these instructions and creating a new account will take only a few minutes.
5 easy steps to register your MuchBetter account
- Make sure to use our signup link our signup link.
- In the opened window you will need to specify a 6-digit security code, which will be sent to your phone number.
- After confirming the code, you will receive an SMS with a link to the app.
- Install the application, enter the registration data, fund your account, and start using MuchBetter!
The last stage is verification. It is necessary to increase the limits and you will also be able to get a free MuchBetter MasterCard (only for EU countries).
MuchBetter Review – Verifications
MuchBetter verification of identity is available directly in the App and takes just a few minutes. You only need a camera on your phone and an identity document: passport, ID-card or driver’s license. Then allow the application access to your camera, point it at the document and take a clear photo from both sides. Your documents will be checked within a few minutes. After successful confirmation the limits for your account will be increased, you can transfer money to other users, get a free MasterCard and a device for contactless payment.
MuchBetter Review – Cashback Program
Cashback is an important factor for many clients who regularly use their eWallets to make deposits. For those who are new to this concept, Cashback is basically a reward for simply using your account and do what you are doing anyways, making deposits to merchants. With the help of our eWO MuchBetter Cashback Program you will earn 0.30% cashback for your net-deposits to any merchant.
However, the calculation of the cashback is slightly different compared to some other programs which is the reason we will explain it in a bit more detail now.
Net-Deposit Model – Calculation
MuchBetter does reward for your merchant net-deposits. Net-deposits mean that if you make deposits of 50,000 EUR at the beginning of a month and withdraws of 10,000 EUR by the end of the month, you will receive 0.30% of the remaining net-amount of 40,000 EUR in this example:
0.30% of 40,000 EUR = 120 EUR eWO Bonus.
Please note that this is calculated per merchant per calendar month. So, if you deposit 50,000 EUR at Merchant X, withdrawal 10,000 EUR later the month from that Merchant X, and you deposit 20,000 EUR to another Merchant Y, the net-deposit amount is (50,000 EUR – 10,000 EUR) + 20,000 EUR. It can never be negative as it is not carried over into the next month.
MuchBetter Review – Fees
As with any other eWallets, MuchBetter charges a fee for some transactions. Covering them all in this review would be too much, so here we briefly list some of the most important fees.
- Deposit fee:
The fee for uploading funds depends on the payment method and your region. You can see the actual fees in your personal account. Here are the fees for the most popular deposit methods: Bank Transfer – FREE, VISA / MasterCard – 0 to 5% (depending on region), Yandex – FREE, BITCOIN – 2%
- Bank Withdrawal fee:
The withdrawing funds’ fees through SEPA bank transfers is 2 – 2.5%. Withdrawals to Bitcoin – 2%, Yandex – 2.5%.
- Money transfer fee:
P2P-transfers between MuchBetter users are completely free.
- FX fee:
0.99 % for currency conversions between USD/EUR/GBP.
MuchBetter Review – Limits
If your MuchBetter account is unverified, then the limits are rather low. However, after successful verification, the limits will be increased. As for deposits to the MuchBetter account, the limits vary depending on the method that you choose. However, the minimum that can be deposited is 10 USD / EUR / GBP.
When you withdraw funds from MuchBetter, the minimum amount also depends on the used method, but usually, it is not less than 10 USD / EUR / GBP. The exact limits for your account will also depend on your country of residence. Therefore, check your personal limits in your account in the app to be sure.
MuchBetter Review – Security
MuchBetter pays great attention to the security of user accounts. You can enter the app using a fingerprint and dynamic security codes. There is also a transaction analysis system to ensure the passage of exclusively legitimate transactions.
Your account will be protected by several security measures:
- To log in you need to enter the 4-digit access code that you specified during registration (it is advisable not to use the date of birth and consecutive numbers).
- Activation code when you use a new device. Every time you want to access your eWallet through a device that you have not used before, a special activation code will be sent to your phone number.
- Touch-ID – you can enable access to the application with a fingerprint and use this method instead of an access code.
- Timeout – when the screen locks or you are inactive in the application for 90 seconds, the application will automatically disconnect you.
MuchBetter Review – MasterCard
MuchBetter MasterCard is a plastic card that you can order for free after verification and receive by mail and you can withdraw money from the card at any ATM in the world that supports MasterCard, as well as use it for payments in stores and online.
Unfortunately, MasterCard sends cards only to EU countries. And if you are from another country this service will not be available to you, while all other features of MuchBetter remain available.
In addition, you can get a special NFC device for contactless payments in the form of a key-chain and use it for payments wherever Wi-Fi is available.
MuchBetter Review – Mobile App
Since the MuchBetter account is managed through the app, this is the main tool. MuchBetter pays great attention to the application, therefore it is executed efficiently, works without failures and has a simple and intuitive interface.
With the MuchBetter App, you can do everything: deposit funds to your account, make transfers, check the transaction history, pass verification, order a MasterCard, and withdraw funds.
When making transfers, you can also choose to perform these on your computer screen by scanning a Bar Code shown in the app.
You can download the application for free in the Apple App store and Google Play.
MuchBetter users can choose any convenient deposit option from the ones that are available for their region.
Please note that some methods are local and not available for everyone. Also, the size of the fees varies depending on your country of residence.
MuchBetter users can choose any convenient withdrawal option from the ones that are available for their region.
You can also withdraw money from an ATM using a MuchBetter MasterCard, or make a p2p transfer to another MuchBetter account.
MuchBetter Review – Support
MuchBetter offers a fast and responsive support service – you can report your problem through the App and receive an email response within an hour. There are not many reviews on Trustpilot so far, the average rating is 3.4 out of 5. If you have registered your MuchBetter account with the eWO signup link eWO signup link, you can also write to us if you have any questions – we can help you with all support requests and direct them to the right person to make sure it is solved in a timely and efficient manner.
Just contact us if you need help! We are happy to help.
MuchBetter Review – Serviced and restricted countries
MuchBetter accounts are serviced almost worldwide. Restrictions apply only to certain countries.
Serviced countries are marked in light-orange.
Completely restricted countries are marked in grey.
And the MuchBetter MasterCards are available only to users from EU countries marked in orange.
Where does MuchBetter provide services?
Please check the following list of countries/regions where you are allowed to create an account, deposit to any merchant and have access to different deposit and withdrawal options.
Please note that only EU users can get a free MuchBetter MasterCard after verification. Besides the fact that customers from other countries cannot receive MasterCard, all other services are available.
- Antigua and Barbuda
- Bosnia and Herzegovina
- Burkina Faso
- Côte d'Ivoire
- Cabo Verde
- Central African Republic
- Costa Rica
- Czech Republic
- Dominican Republic
- El Salvador
- Equatorial Guinea
- Holy See
- Marshall Islands
- New Zealand
- North Macedonia
- Palestine State
- Papua New Guinea
- Saint Kitts and Nevis
- Saint Lucia
- Saint Vincent and the Grenadines
- San Marino
- Sao Tome and Principe
- Saudi Arabia
- Sierra Leone
- Solomon Islands
- South Africa
- South Korea
- United Arab Emirates
- United Kingdom
Serviced Countries with MasterCard available
Customers from EU countries can order MasterCard for free after verifying the account. Check the following table to find all countries where you can use all services, including the MuchBetter MasterCard.
- Czech Republic
- United Kingdom
The following overview shows all countries where you are not allowed to hold a MuchBetter account.
- North Korea
- South Sudan
- Sri Lanka
- Trinidad and Tobago
- United States of America
Register with additional eWO Benefits for free
No matter which country you are from, register with MuchBetter with eWallet-Optimizer for additional benefits and better support.
If you have any questions about the eWO Loyalty Program and the benefits, please do not hesitate to
We are here to help you.