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 TnG eWallet Discussion Thread V1, eWallet, PayDirect

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SUSxander83
post Apr 10 2021, 02:30 PM

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QUOTE(!@#$%^ @ Apr 10 2021, 02:09 PM)
they have explained in the faq. topup and instant withdraw is not 'normal' behaviour.
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I have done several top up and instant full withdrawal within minutes with no issue because my source of reload was in cash, fpx and reload pin hence no issue for the past few weeks rclxms.gif
SUSxander83
post Apr 10 2021, 02:40 PM

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QUOTE(!@#$%^ @ Apr 10 2021, 02:31 PM)
on this, perhaps it's the reason u cant topup directly to go+ via credit card. instead u can topup with ewallet credits ie 'cash' already in ewallet.
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That is the reason why only FPX and Ewallet methods only allowed GO+

QUOTE(!@#$%^ @ Apr 10 2021, 02:31 PM)
now why would anybody wanna do that? in cash out cash.
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Simple reason as i receive royalties through my ewallet hence the only to cash out I would have to reload some cash to get the entire amount out


SUSxander83
post Apr 11 2021, 08:39 PM

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QUOTE(Kyan0411 @ Apr 11 2021, 04:52 PM)
I reload to GO+ with combination of FPX and credit card reload. And i cashout after few days..

Not sure i will get into trouble or not. The amount cash in and out are different
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No issue if you keep CC reload under RM1000. After that it will track and monitor your account for any suspicious reloading and instant withdrawal within 3 days
SUSxander83
post Apr 11 2021, 08:56 PM

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QUOTE(!@#$%^ @ Apr 11 2021, 08:45 PM)
u work with tng ka?
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No need to work there just to know how GO+

You better off go spend your time to do DD instead with the RMO license that is being conditionals to the fund itself doh.gif
SUSxander83
post Apr 12 2021, 12:11 AM

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QUOTE(cucikaki @ Apr 11 2021, 11:35 PM)
Obvious but still wanted to know tng respond.

Last month when go+ launch, i simply call cs and ask if i reload using cc everyday topup go+ then withdraw to bank next day is it ok. They say ‘yes’. Doesnt matter, as long the withdrawal is made to your own acc.

Never tried this obviously, but quite surprised no briefing was made to CS on the limitation?
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The license was granted on 1st April by SC with conditions being change hence clause changes only taken then which CS go to blindsided and not informed by higher management

And you will see by this week the returns might dropped to below 1.4% anytime which will discourage more store less instead

The idea is good but due regulatory framework, license issuance and practicality it will take some time for them to beef up but with expense fees so high this GO train will go downhill
SUSxander83
post Apr 12 2021, 09:53 AM

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QUOTE(ericlaiys @ Apr 12 2021, 08:54 AM)
CS don't know anything one. Say yes first, block u later. u better hope that LHDN don't find u coz large amount of transfer will trigger bank negara, gov start to audit your account.
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Under clause 4.2c the conditions were set by SC to absolve liability from TnG to user responsibility hence the word bad faith

Under 4.2f they have the right to suspend and audit based on AMLA regulations for their ewallet license
SUSxander83
post Apr 13 2021, 09:34 PM

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QUOTE(steel52 @ Apr 13 2021, 09:30 PM)
Lets say if I reload using CC RM 500  then withdraw RM 500. My account wont flag?
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If you withdraw instantly, it will flag but won’t suspend

But you do it too often, high likely it will suspend you.

My advise, reload store in GO in 1day then withdraw the next day.


SUSxander83
post Apr 14 2021, 10:01 AM

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QUOTE(!@#$%^ @ Apr 14 2021, 09:51 AM)
but actually right, technically u said instant means within 3 days ie now until 3 days. so actually right, should withdraw on day 4. haha.  sweat.gif
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Technically breakdown

Day 1 reload pin and store in go+ before 4pm
Day 2 Daily earnings and cash out before 4pm
Day 3 Cash our received

So it is 3 days cycle hence you need to learn what is MMF and its cycle instead of always asking really rhetorical questions as all MMF in the market employed same method with the exception of when they will invest the fund doh.gif
SUSxander83
post Apr 14 2021, 10:06 AM

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QUOTE(!@#$%^ @ Apr 14 2021, 10:03 AM)
putar putar putar  rclxub.gif. but it's okay, as long as u r happy mate.
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Instead of asking why don’t you put in rm250 instead and gain the one cent rather asking all answers which are written properly in GO+ doh.gif
SUSxander83
post Apr 14 2021, 10:18 AM

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QUOTE(x-frame @ Apr 14 2021, 10:11 AM)
Do not assume all MMF in the market has the same method. That is not correct.

You do that on Shpoee and some other platform, they will take action such as remove your credit card top up.  The main thing is to avoid people from drawing money out from their credit card without any interest rate.

What you think is right, does not mean its right in the eyes of companies. And it is because of action like this that causes them to take action and make changes. So called abuse.
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1stly Shopee is not MMF but Digital Wallet license hence difference in regulations doh.gif

2nd GO+ is under Principal which is the MMF provider and cash out services is done by CIMB with CRMO license

So I think you are mixed up what is MMF, ecash and digital wallets

MMF way only to use cash to deposit, while now introducting and trying out through ecash via digital wallet through TnG via conditional RMO license by SC

Btw Shopee doesn’t have RMO license they are not MMF provider doh.gif
SUSxander83
post Apr 14 2021, 04:21 PM

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QUOTE(cybpsych @ Apr 14 2021, 03:38 PM)
it's not about the amount

it's traceability aka audit trail of the fund, of which the provider need to have some sort of reporting/mechanism to trace the fund back to the source (if required)

general public consumption is not a big issue, but there ARE ppl who (ab)use/misuse the platform for questionable activities.
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Which is why like I said earlier CC traceability now is the issue and they have improved on preventing the abuse on their platform by cashing out

To TnG small amounts they don’t bother because there will be millions of transactions daily unless being reported

The big ones are easier to track and flag because it impacts their bottom line as the returns for these service is low after the impact through CC reload
SUSxander83
post Apr 15 2021, 09:32 PM

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QUOTE(DabLRT @ Apr 15 2021, 08:19 PM)
I guess it is just a matter of time where TnG follows Grab whereby credit card top up fund is not allowed to transfer to another person
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Coming soon because they are still fine tuning it rclxms.gif
SUSxander83
post Apr 16 2021, 07:26 PM

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QUOTE(beebee1314 @ Apr 16 2021, 11:28 AM)
Looking forward to my first fishball.
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You should round it up to rm250 to earn the fish balls rclxms.gif
SUSxander83
post Apr 16 2021, 07:31 PM

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QUOTE(acejlsh @ Apr 16 2021, 07:28 PM)
Anyone successfully bought RM 200 PIN from the Z app? I failed twice, changed back RM 100 is swift...funny...
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Limited amounts of it daily
SUSxander83
post Apr 17 2021, 11:33 AM

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QUOTE(lowyat101 @ Apr 17 2021, 09:26 AM)
regarding the withdrawals from go+, from the comments in the past few pages, if i only withdraw like once a week, it should be safe right? also amount not big maybe less than 1k
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They won’t bother with so small amounts of less than 1k
SUSxander83
post Apr 17 2021, 08:01 PM

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QUOTE(markchan @ Apr 17 2021, 07:33 PM)
user posted image
Hmmm good earning?
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Rubbish earning from rm250 just to earn 0.01

There better ways to earn 0.25 from that amount
SUSxander83
post Apr 22 2021, 11:13 AM

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QUOTE(tigerjkt @ Apr 21 2021, 09:05 PM)
If you reload using FPX or Debit card, I don't think there will be any problem, no matter how big the amount and/or how fast your withdraw.

While reload from credit card then cashout to bank is entirely a different matter.  ALL banks forbid cashout from Credit to bank accounts, what you did circumvents such control.  It is currently an industry loophole while TNG and other e-wallet are making efforts to close the gap.  I personally believe sooner and later BNM will step in and forbid Credit Card reload into e-wallet
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Happening Sooners than you think because Grab will be the 1st guinea pig rclxms.gif
SUSxander83
post Apr 22 2021, 02:51 PM

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QUOTE(tigerjkt @ Apr 22 2021, 02:05 PM)
Let's revisit this post 2 years later and see whether BNM has done it or not.  We will see

BTW, in other more mature e-wallet markets, Credit Card is already forbidden to be used as reload channel into wallet.  I may not be next BNM governer but does know e-wallet business in other countries a bit more.
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It is happening Sooners than everyone just that’s it is on CRMO license hence the year will punish selected offenders but soon willing roll out uniformly

The point that you trying to convey which I am sure a lot won’t understand that CC is interest based deferred business which charge sales as high 3% per transaction while ewallet is currently as low as 0.3% hence GO+ and CC reload is lost business because TnG will still have pay a lot of it

The only way is to encourage CC reload limit with minimum of rm200 and restrict the transferring around within a week just like on CC reconciliation on the backend when the merchant charge back to CC user
SUSxander83
post Apr 22 2021, 05:11 PM

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QUOTE(cybpsych @ Apr 22 2021, 03:09 PM)
GO+ is currently gotten Conditional (approval) as a Recognised Market Operator (RMO) by the Securities Commission (SC)
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Conditional is not a full license or approved but a testing rollout or real life POC in order for the them to fulfill the criteria for TnG for future application towards a DAX license

But based on GO+ high likely will gain DAX with CiMB JV but GO+ will be scrapped out soon to replace with another feature soon once DAX license in place
SUSxander83
post Apr 22 2021, 06:18 PM

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QUOTE(jasontoh @ Apr 22 2021, 05:32 PM)
So no more income if our cash is idling?
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Yes currently GO+ does expense ratio fee of 0.45% daily plus merchant fee reload especially from CC TnG are losing money from GO+

The reason why they are introducing GO+ is to beef up the deposits in order for them to proof they are able to manage like bank to get DAX license

Even GrabPay are start restricting because of these are waiting for their DAX license in order for them to start micro lending which is the money maker together BNPL which are blood sucking to the merchants who are gonna pay for it together high penalty fees for late payment

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