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> TnG eWallet Discussion Thread V1, eWallet, PayDirect

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xander83
post Mar 29 2021, 06:32 AM

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QUOTE(YH1234 @ Mar 29 2021, 01:18 AM)
we cant tell now if go+ is as liquid as fd or even saving.
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We will know by tomorrow

But there are better and easier ways to earn rm0.01 from Touch and Go only ppl don’t know about it doh.gif doh.gif doh.gif
xander83
post Mar 29 2021, 11:15 AM

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QUOTE(ChiaW3n @ Mar 29 2021, 09:38 AM)
Just tried to cash out from go+ this morning, basically it’s reflected instantly. And I would said it’s sharing the total balance at your tng home page. So make sure you got enough buffer so your other usage for eg RFID. The amount displayed you should have bear in mind about your go+ investment.
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Reflected but not fully processed hence useless with the one day just minisicule to a cents doh.gif
xander83
post Mar 29 2021, 11:16 AM

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QUOTE(CSW1990 @ Mar 29 2021, 10:54 AM)
Park rm250 into Go+, rm0.001 earn per day.
Not much significant different compared to other MMF... for low risk investment might go into sspn better
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Yes there are better ways earning minisicule returns for such a low return doh.gif
xander83
post Mar 30 2021, 10:13 AM

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QUOTE(MGM @ Mar 29 2021, 09:09 PM)
Can Versa be funded with creditcard?
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Give it a try then you know rclxms.gif

QUOTE(mamamia @ Mar 29 2021, 11:16 PM)
No, we need to compare those who give interest for now..

to me, eWallet is my cash flow also.. so, keeping money in eWallet n normal saving acc is same, but Go+ give interest.. so, I will keep more in tng as compared to other eWallet which I usually keep minimal balance, only top up if I know I going to use them..

this is really called challenge bank which initially I thought Bigpay can do that.. but now seem like no innovation from Bigpay.. not sure how long they can tahan..
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BigPay has it in the pipeline but unfortunately no wants to back someone will screw up their market hence difficult to do cross co operation

2nd they do not meet the requirements to be RMO

Just wait and see what would GrabPay would do now rclxms.gif
xander83
post Mar 31 2021, 09:42 AM

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QUOTE(beebee1314 @ Mar 31 2021, 08:16 AM)
True I read come read go, never say will it charge on final NAV or average NAV for the year. But I believe logically wise it should charge on the final NAV. Can I assume if I withdraw everything by month end, NAV = 0?
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Their pricing MMF is flat RM1 investable NAV and payable in earnings have factor in the charges

Hence you can withdraw easily anytime which is why they use the flat pricing of RM1 NAV with minimum RM10 investments which technically you would lose out in 0.5% daily gain

Better off going to Versa as they adjust accordingly to make sure that you do not lose out on your daily gains rclxms.gif
xander83
post Mar 31 2021, 06:57 PM

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QUOTE(beebee1314 @ Mar 31 2021, 09:58 AM)
I don't understand, so how do the charges come about. How do we calculate like those topup 5k then withdraw directly, what are the charges come month end. The 0.45% and whatever % is confusing.
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Principal MMF fluctuate daily based flow and outflow of the fund

As long it below 1.8% we know that the returns the rest of it consider as fund management fee but the base fee it is 0.33% to as high as 0.45% depending on the funds inflow

QUOTE(aurora97 @ Mar 31 2021, 12:22 PM)
Versa is just a platform, it also invest in unit trust. In versa case its AH Enhanced Deposit.

GO+ is no different. TnG is platform, it invest in unit trust, in this case eCash.

All other things being equal or same (aside from management/trustee fee (maybe higher or lower), the return/yield (yes, some UTMC may get better rate than others), how can suddenly an investor be losing out?

Unit trust has been using single pricing regime for a very long time, NAVo stands for Net Asset Value (meaning all asset less liablities to derive Nav), aside from poor performance, investor should be able to redeem their investments at the prevailing Nav of the day at no additional cost.
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In terms of liquidity and returns, Versa has proven itself to be more far superior than GO+ which are given rubbish returns below OPR rates hence people are just being sucked into making CIMB richer doh.gif

Doesn’t matter what platform or fund, what people need is the MMF should always beat the benchmark rate of OPR anytime

QUOTE(severenge82 @ Mar 31 2021, 02:02 PM)
Hi All,
Since now Touch and go can withraw to bank, can I use this way to earn credit card reward point? Reload using credit card then use ewallet money to pay back to bank, is this a loophole to work? Thanks.
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Please start doing it because soon you won’t get to enjoy it

Why bother reward point or useless rm0.01 return to rm250 deposit when there are better ways to earn money doh.gif
xander83
post Apr 1 2021, 06:49 AM

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QUOTE(victorian @ Mar 31 2021, 11:30 PM)
They are using credit card not because of the interest la, it's purely for the cashback that can go up to hundreds per month. It's inevitable when a money market fund accepts indirect credit card payment.

The way I see it, this is not sustainable. Not giving them ideas, but this is what I predict:

1. TNG to stop cash in to Go+ via E Wallet entirely. But this means that there will be no integration between E wallet and Go+.

2. Allow cash in from e wallet only if the source of funds is not using credit card. Example you reloaded 500 using FPX and 300 using credit card, system will only allow you to cash in up to 500 using e wallet.
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Cashbacks on credit card soon will stop or limit on ewallets which is coming soon

Cash in will still happen but with limit or daily limit very soon based on interest giving

QUOTE(Kyan0411 @ Mar 31 2021, 11:54 PM)
No one gonna do if rm0.01 for every rm250. Not worth it.
But if talking about different amount then...
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Even if you max up the limit of rm10k you’re only getting rm0.40 per rm10k which is stupid when you can ear better ways than GO+ which are basically rubbish returns

Better tighten loopholes and give out 1.8% return then you only will see the fund better managed rclxms.gif
xander83
post Apr 1 2021, 03:19 PM

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QUOTE(Kyan0411 @ Apr 1 2021, 11:27 AM)
You do aware that currently there are cashback cc that give as much as 10% or on average 3-5% right.. on 10k that's like rm300 to 500...
Most people here are pumping money in and then take out. Most of the people know the cb are not sustainable. Just that they are enjoying it while it lasts
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3 to 5% cash backs are subject to conditions which are many do not meet for sure

But for those who has rm10k they do not and not stupid putting into the cash back as there many using credit to generate better returns than using GO+

Wait till next week will GO+ returning rubbish returns again rclxms.gif
xander83
post Apr 4 2021, 10:42 PM

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QUOTE(WaCKy-Angel @ Apr 4 2021, 10:37 PM)
Versa got fees or not ah?? 1st time heard of this.

Btw i dont think he made RM285 earning from the interest. he should be getting that from credit card cashback..
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Go do a google search and you find the answer

Rule #1 in MMF returns are always after fees are being deducted


xander83
post Apr 7 2021, 04:28 PM

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QUOTE(alandhw @ Apr 7 2021, 09:21 AM)
Will never know the "instant" definition in TnG.
Maybe they define instant as long as less than a month? haha
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Instant means within 3 days in Principal definition

Finally good move by TnG to ban those reloading using and cashing out using CC

Let’s see whether the returns now can hit 2% with the actual money going to the fund rclxms.gif
xander83
post Apr 7 2021, 05:23 PM

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QUOTE(ClarenceT @ Apr 7 2021, 05:00 PM)
Not possible to reach 2% at this moment unless BNM increase OPR.
MMF (Public Bank) around 3% p.a. before Covid19 pandemic.
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It is possible because Versa is YTD is already 2.14% while SA Simple is 2.1% doh.gif

So Principal currently can afford to give out at least 1.9% but due to inefficiency of its fund with expense ratio of 0.33% hence the rubbish returns

GO+ rubbish returns are because it baseline underlying is RM1 per unit daily fixed while it depends on daily deposit minus 0.33% off OPR hence fluctuation daily of it’s rate while its actual baseline rate is 1.47% and the only time they beat 1.61% was on 29 March 2021

Whether OPR increase or not as long as MMF is managed well with expense ratio is low they can give out easily 2.1%

MMF through banks are rubbish because they are giving slightly lower to tempt depositors to park in FD which are highly co related with OPR while MMF are supposed to benchmark and beat OPR anytime with its funds efficiency and liquidity
xander83
post Apr 7 2021, 05:41 PM

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QUOTE(ClarenceT @ Apr 7 2021, 05:32 PM)
FD, MMF, Go+, Versa are not really good investment.
High risk high return, if want to get rich, forget FD, MMF, Go+, Versa, credit cards!
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Which is why is only for short term returns while waiting for opportunities

Not necessary high risk are high returns as you can see what happen to Archegos just a slight move trigger margin sell off

The best are leveraged smart returns which are RRR whereby you can decide the returns while minimizing risks

That’s why those who GO+ are basically stupid to let CIMB while there BetterBusiness ways to make those minisicule amounts

You have to remember that GO+ is currently on conditional RMO license which can be pull back but SC thanks those idiots with its credit cards churners rclxms.gif
xander83
post Apr 7 2021, 06:03 PM

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QUOTE(victorian @ Apr 7 2021, 05:52 PM)
I think most of us here have access to more than one account, their partner, family members touch n go account.

Tng cannot track if they really want to do it.
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They are able to track based on certain algorithms and I won’t be surprise there are many who thinks they can outbeat it

Even Grab has that algorithm in place to block and suspend the account permanently many years back rclxms.gif
xander83
post Apr 7 2021, 08:58 PM

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QUOTE(fruitie @ Apr 7 2021, 06:12 PM)
I don't understand why Versa is being mentioned as comparison. Yes, I do agree that Versa gives much better returns, same goes to other MMF in the market... But do they allow users to add fund with credit cards? No. So, it is not a fair comparison.
I guess we should end this conversation. (I am aware of the earlier posts and already hidden from public view)
Also, wanna add in fund into Go+ and withdraw? Do it at your own risk. You should be aware of the risk of getting your account banned as these companies have the final say.
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1st rule in MMF everything invested to it must be actual money not credit otherwise it will defeat the purpose of liquidity

2nd by abusing in using credit cards which are not actual money hence it defeats the purpose of rule #1 in MMF

For those who use actual money deposit via FPX or reload pin from ewallet will still get to enjoy unlimited deposits and withdrawals with account limits which will meets both the rules hence they will enjoy the rubbish minisicule returns which should been at least rm0.00008 to every RM being deposited daily returns
xander83
post Apr 9 2021, 02:38 AM

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QUOTE(sjz @ Apr 8 2021, 11:25 PM)
Still, Versa is the best.

Wonder if they accept cash in from CC? brows.gif
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Won’t happen with CC because to run MMF SC regulation is that all funds must be backed by actual money just like FD and The reason why is because the funds is backed by liquidity in order to better manage flows and given better returns than FD

Otherwise if it’s too much margin when liquidation you will be instead seeing your fund being negative rclxms.gif
xander83
post Apr 9 2021, 02:36 PM

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QUOTE(enriquelee @ Apr 9 2021, 10:23 AM)
Put money in Go+, need to pay some yearly service  fees, right?
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QUOTE(victorian @ Apr 9 2021, 11:11 AM)
Management fee.
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QUOTE(tsutsugami86 @ Apr 9 2021, 11:15 AM)
the fee should deducted in NAV, so you no need to pay any fee.
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QUOTE(!@#$%^ @ Apr 9 2021, 01:51 PM)
good luck
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Expense ratio factor in after earnings so on average you’re earning rubbish 1.47% after deducting 0.33% off 1.8% OPR

Soon for those putting in thousands just a gentle reminder they have the right to suspend and auto withdraw to your ewallet directly soon because CIMB is on the radar by SC due to conditions set by the RMO license rclxms.gif
xander83
post Apr 9 2021, 07:50 PM

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QUOTE(YH1234 @ Apr 9 2021, 04:00 PM)
do they reallly have rights to suspend? i believe all users can only do what is allowed in the apps, nobody is breaking any rule or law. it is up to tng to change the condition or impose restraint and limit.
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Absolutely they have right with the conditional RMO license granted by SC

The app it is not the issue but the source money to reload using CC to cash out via GO which constitute as illegal source of income which is why when user is trying to upgrade to GO+ questionnaire are being asked in order for the algorithm to run and identify any abuse of using cashing out the unknown source of money rclxms.gif
xander83
post Apr 10 2021, 12:17 PM

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QUOTE(enriquelee @ Apr 10 2021, 11:10 AM)
My concern is if we deposit X amount of money in go+ for only 1 week. The fees would be deducted in NAV during that week. Any other fees that they charge in yearly basis? (Something similar like our credit card annual fees)
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The underlying fund price is flat RM1 with the daily returns are deducted 0.33% off OPR rate hence you will getting rubbish returns on average of 1.47% pa daily and it might lower or higher depending on whether more deposit going in or cashing out

Anything above 1.47% pa on the daily returns you will know more cash in amount in GO+ than withdrawals

You be better off putting in short term into Versa, SA simple, Opus or Phillips
xander83
post Apr 10 2021, 01:57 PM

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QUOTE(piskin @ Apr 10 2021, 01:09 PM)
user posted image

They locked my account . What happen to all my money
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QUOTE(piskin @ Apr 10 2021, 01:21 PM)
Yes . I top up e-wallet and withdraw money touch n go + at same day . But they can’t block like this . What happen to all my money . They just took it ?
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Using credit card to churn?

I have warned earlier but a lot didn’t listen and finally good that TnG take action rclxms.gif

Called them on Monday as they will refund the money to your bank account and they will disable GO functions to you

Topping up using reload pin or fpx with your own money would have not occur such flags in your account being locked
xander83
post Apr 10 2021, 02:27 PM

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QUOTE(YH1234 @ Apr 10 2021, 02:04 PM)
i dont quite understand what you mean by illegal source of income, what if i do a cash instalment or cash advance via credit card and put the sum into versa, would this fall under illegal source of income?

i still think it is an operation and business issue, bp and boost start to impose limit and constraint when the operation become not profitable, and tng will do the same perhaps 3 to 6 months down the road, as soon as the system can cater for segregation of sources and achieve certain kpi for this product.

wrt suspend, i dont know what yours definition, unless they found out i exploit or abuse the system that might constitute something illegal, i dont think thay have right to suspend, i mean they can of course stop any further transaction and seek for clarification, however i dont think this fall under the meaning of right to suspend if user did no wrong, in most cases, it is the user that choose not to proceed to challenge the authorities.
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If you’re taking cash from credit through cash advance or instalment it will be consider as personal loans as you would incurred interest to be paid hence it will be defined as actual cash being disbursed with interest to be paid in future but it will be silly because you are paying 1% monthly interest while gaining only 0.18% in Versa monthly and you will be poorer by 0.82% monthly in debts just on interest

Nothing to do with operation and business as when SC issue the conditional RMO license to TnG digital there’s are conditions for it to meet when operating GO+ with the 1st conditions all deposits have to be actual deposits in cash just like FD. Limit, constraints any segregation are to make sure that all deposits are actual cash to Ecash to be invested into Principal Cash A fund.

Suspension in your case it is because suspicious transaction be flagged and trigger to locked your account and TnG digital have the right to do it anytime. At the end of the day when you sign on you already agree to all their terms and conditions which I believe you have violated one or more of it. Don’t believe me Simple just make a call Monday morning after 9am and ask them which particular transaction you are being flagged for.

I have already known since day 1 on how, when and why the flag happens as they have been tested and approved by SC as one of its conditions in order to gain conditional RMO license to circumvent any AMLA practices rclxms.gif



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