Business Partner FAQs
I am a broker and want to receive commissions from insurance companies/ fund managers and pay commission to agents in a quick, convenient and secure manner. What should I do?
Sign up for a MyChoice Professional program. MyChoice Professional is a perfect alternative for brokers, insurance companies an d fund managers seeking an easy and automated way to receive and pay commissions. Make instant, no fee payments to agents around the world in Dollars, Pounds or Euros, without the need for the recipient to have a bank account
How do I sign up for MyChoice Professional?
Get in touch with the insurance company/ fund manager you are associated with, and they will guide you through the process and give you the registration URL. On successful registration, you will be able to login to your MyChoice Professional Business Account.
Does your MyChoice Professional program give me multi - currency options?
Yes, on successful registration, you will be able to choose between the following options:
- United States Dollar (USD)
- Great Britain Pounds (GBP)
- Euro (EUR)
How do I receive commissions from insurance companies/ fund managers?
You can receive commission payments only after your account has been verified and upgraded. Once your account is verified, you will find your MyChoice ID and email address on your Business Account dashboard and can share your MyChoice ID and email address with the insurance company/ fund manager.
What features available to me on MyChoice Professional?
You will be able to:
- Add funds to your USD/EUR/GBP account. There are more options to add funds for verified users.
- Place virtual card orders for agents whom you want to pay in USD/EUR/GBP
- Make commission payments to agent in USD/EUR/GBP, subject to having sufficient funds in your USD/EUR/GBP account
- View your account balance and transaction history
- Add admin users to manage your program and assign permissions based on their role.
- Receive funds from insurance companies/brokers/fund managers/agents (available only to verified users)
- Transfer funds to your bank account (available only to verified users)
How can I get my MyChoice Professional account verified and upgraded?
You can get your account verified and upgraded by submitting the identity documents. Click here for the list of documents.
How can the MyChoice Professional prepaid card add value to agents associated with me?
Virtual Cards – Agents can use their MyChoice Professional virtual cards to make payments and purchases online.
Personalized Cards – Agents can place an order for a personalized card from their online account. Our MyChoice Professional card is a prepaid debit card that can be used by the agents to receive commissions, make purchases,
withdraw cash, and manage funds easily and securely. It’s accepted across the globe at all locations and ATMs where Mastercard debit cards are accepted.
With a MyChoice Professional card, agents could enjoy the following benefits:
- Ability to receive payments on the card
- Easy and secure access to their cash
- Convenient access to their card account online and by using the mobile application
- Anytime, anywhere shopping via online, mobile or POS terminals
- Ability to transfer funds to other MyChoice Professional enrolled agents/brokers
- Withdraw cash at more than a million Mastercard enabled ATMs across the world
- Ability to send funds to bank accounts across the world
- Simple and transparent fee structure
What are the fees that would apply for using my MyChoice Professional Prepaid Program account?
To view applicable fees, refer to the Fee Schedule in the Terms & Conditions.
What should I do if I have any questions related to my MyChoice Professional business account?
If you are facing any issues or have any questions related to your MyChoice Professional business account, you can log
in to your account at https://partner.mychoiceprofessional.com and use the Help icon at the bottom right of the screen
to raise a ticket. You also have the option to attach screenshots of the issue. Our Partner Services team will address the
issue raised in the ticket and get back to you.