I just moved my FD as I have issues with lock in period. So far seem like Versa return are pretty okay to me, just wondering what's it's like comparing to Stashaway or I saw touch n go recent go+

wanna seek some community advise, hope u guys dun mind to share

This post has been edited by unsingable: Apr 9 2024, 11:53 PM

while waiting for responses, you can try this existing thread

Money market fund
https://forum.lowyat.net/topic/4962773/+660

page 34 had some recent posting about comparing these 2...

All info is in money market fund thread.

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

This post has been edited by DragonReine: Apr 8 2021, 07:45 PM

-Deleted-

(Replied at: https://forum.lowyat.net/index.php?showtopi...st&p=100557837)

This post has been edited by TOS: Apr 8 2021, 07:52 PM

pidm protected?

No. Money market funds are not protected by PIDM.
While money market funds provide more flexibility than fixed deposits, investors should be aware that money invested in these funds is not protected by the Malaysia Deposit Insurance Corp (PIDM).

https://versa.com.my/where-does-your-money-go/

This post has been edited by DragonReine: Apr 12 2021, 06:51 PM

Wonder how safe it is, how long already this Versa?

This post has been edited by spreeeee: Apr 12 2021, 09:16 PM

early this year (2021)

https://fintechnews.my/26051/wealthtech-mal...th-affin-hwang/

Just go their website flip2

https://versa.com.my/

This post has been edited by ironman16: Apr 12 2021, 09:19 PM

I have been using since they launched. Money always comes back to me. Affin Hwang will drop you a receipt every time you buy or sell. So it is safe.

This post has been edited by Ramjade: Apr 12 2021, 09:34 PM

deposited last night, and till now it still show status "deposit in transit".. how long does it usually take?

1-2 biz days from deposit if before cutoff time of 2:30pm, 2-3 biz days if after cutoff time.

You may check their Help Centre > Deposit & Withdrawal >How long does it take for deposit to show in available balance.

I would recommend you read their Help Center articles if you're new to Versa and money market funds. They explain a lot of how it works there.

thanks got it

As per my experience, the money you bank in should invest in 1 - 2 biz days. But it will took few more days to reflect in Versa.

This looks like a great alternative to FD. It's basically FD without the lock-in. I'm loving that fintech companies are starting to eat into banks' margins and hopefully eventually force them to adapt to be more consumer-friendly

Actually, no, technically speaking these fintech companies are working WITH banks rather than forcing them to compete.

That's because MMFs are in fact investing into FDs and many of the fund houses that these fintech companies work with are the investment arm of banking/insurance groups.

MMF essentially are pooled funds that are invested into FDs (and maybe short term bonds), with "special" rates due to investing with large capital. Historically FDs and MMFs are usually about similar profits, it's just that in the past it's difficult for the average retail investor to invest in MMFs due to requiring fairly large initial capital. What fintech does is they play middleman, allowing individuals with poor cashflow to invest in MMFs by pooling resources together.

Fund houses have their own MMFs but usually not advertised widely because it's low profit for them and their agents XD

The reason why Versa is 'higher' than FDs is because our current banking interest rate environment is low + the underlying MMF of Versa, Affin Hwang Enhanced Deposit Fund (HWAEDEP) has corporate and government bonds mixed into its investments, which gives slightly higher returns than FDs at slightly higher risk.

In the past not everyone can touch the MMF as as barrier very high for minimum investment amount of RM10k~RM50k. Think of it as wholesaler.

Versa act as retailer making a pool so small fishes like us can invest RM1 minimum into MMF now. Then Versa will deals with the wholesaler.

It's a good thing and opportunity for small fishes to learn about finance. Otherwise old people still think putting money in FD is the only way to earn interest without the risk to lose money while stock market very high risk and so on.

Your explanation makes sense, thanks

Make sure account verified before and opened before depositing money. Or else it's going to taken longer.

Hi, Anyone have seen drop in lifetime gains after payout? Is this normal? i.e. Yesterday the lifetime gains was rm0.45, today the lifetime gains drop to rm0.21