Simple™ competitor?

Versa Collaborates With Affin Hwang To Launch New Digital Cash Management Solution

Versa Asia has collaborated with Affin Hwang Asset Management to launch a new cash management mobile app that allows Malaysians to earn returns similar to fixed deposit rates on their invested money through money market funds. It also offers them the flexibility of being able to access their funds at any time, with no lock-ins and hidden terms.

Versa works like a savings account, but with returns on par with FD interest rates – and without the need to visit a bank. Once you’ve registered an account with Versa, you can then deposit an amount of money into it, which will be invested into Affin Hwang’s Enhanced Deposit Fund. Returns will then be re-deposited into your account and re-invested until you decide to withdraw them.

Versa allows you to start saving at a minimum of RM100, and it charges no hidden fees, including management, transfer, and exit fees. You can also withdraw your money anytime without penalty, with income distribution calculated up to the day of withdrawal.

Article link: https://ringgitplus.com/en/blog/investment/...abYeXgKSc5RxZKA

Versa link: https://versa.asia/

Add on:
Meanwhile, Versa and Affin Hwang AM have secured a Memorandum of Understanding with a leading global payment network with over 50 million global touchpoints to work towards a real-time balance card linked to Affin Hwang AM’s money market funds.

Article link: https://www.malaymail.com/news/money/2020/0...lutions/1893813

Versa:
1) 1-2 days withdrawal time, straight to bank account
2) Best returns of the three options you've listed
3) Only FPX transfers for now so can't set up recurring deposit to topup regularly

StashAway Simple
1) 3-4 days withdrawal time, straight to bank account
2) Returns so-so only, on par with non-promo FD
3) Can set up recurring deposit/standing instruction through bank direct debit mandate or JomPay to topup regularly
4) Can be used to park money for dollar cost averaging into StashAway's regular ETF investment portfolios, because can setup recurring transfers from Simple to regular portfolios

GO+
1) 1-2 days withdrawal time, can put in TNG eWallet or bank account balance
2) Returns are less than average non-promo FD rates
3) Cannot do recurring deposit
4) Easy way to transfer/deposit with your TNG eWallet balance, good for heavy TNG user

CMF2 a teeny bit better than Simple and GO+ but I don't think can beat Versa's HWAEDEP base I might be wrong, I haven't researched thoroughly into RHB CMF2, only know that it's used for FSMOne users to park extra cash for DCA investing