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

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

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.

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.

No. Payouts are tax exempted.

Yes, as this is due to the drop of unit price after payout, which will make it look like your gains "dropped'.

theoretically yes, but this will unlikely to happen.

money market funds NAV while "fluctuates" in reality only goes up and down within a range of 3 decimal points and it's offset by the monthly or in this case every two weeks payout, which will provide compound gains. Functionally, it is about as risky as FD because Versa invests in FD, just at higher than usual rates because they invest in millions of ringgit.

In any case, you shouldn't be using Versa for long term investment, because its interest rate is not even going to beat inflation in long term.

The days after payout happens (usually middle of month and near end of month), but bear in mind it's only around 0.001 sen per unit difference, and it's offset by dividends payment anyway, so unless you are depositing in six-figures this shouldn't matter

Did you read Versa explanation of overnight interest? It's not the same as GO+. https://support.versa.com.my/hc/en-us/artic...night-interest-

Yes, as you're selling the units in MMF at higher NAV, so technically you're cashing in on the pro-rated profit before they actually give it to you in the official payout/distribution.

I've been tracking my Versa since February and comparing to my 1-month auto-renewal FD in Affin, and Versa does actually give slightly more due to compounding and overall higher interest (at around 1.9% p.a.), which is decent considering the relative liquidity, without the hassle of "hitting goals" like for high yield savings accounts. For short term cash storage it's a decent vehicle.

You can track the underlying fund here actually: https://my.morningstar.com/my/report/fund/p...px?t=0P00008ME1 without reading too hard into Versa's way of tracking which is confusing as hell.

MMFs can, in fact, trend downward, but extremely slowly (see the monthly view for net asset value here: https://www.investing.com/funds/affin-hwang...historical-data ), about on par with how fixed deposits change in offered interest rates.

The units given on distribution will override any "loss" in NAV however, as usually it's more than NAV drop in value which moves in 3 decimal points (or 0.0x% range relative to past NAV) compounding interest usually covers that problem easily.

example: Jan 2019 has 1.168 NAV, moved up to 1.176 on March 2019, then slipped until current NAV of 1.171

This post has been edited by DragonReine: Jun 20 2021, 12:58 AM

It's mostly FD and fixed income, no long term bonds:

https://my.morningstar.com/my/report/fund/p...px?t=0P00008ME1

This post has been edited by DragonReine: Jun 23 2021, 02:05 PM

usually refers to short term bonds aka "investment grade" corporate bonds

This post has been edited by DragonReine: Jun 23 2021, 02:03 PM

Can't use that method you're trying to do, all MMFs based products don't compound in an "easy to calculate with single formula" method. You need to treat it like an unit trust: The only accurate way to gauge is to take the total amount of units you have, times the NAV of the day you're calculating, record that amount down, then continue to track it daily over time. In this case because it's a low volatility MMF, you only need to travck it for a month. You'll get a good idea of the growth rate that way.

This post has been edited by DragonReine: Jun 24 2021, 09:02 AM

If you issue withdrawal on Friday they'll only finish deposit to you on Monday or the next business day if it's public holiday on Monday

If withdrawal on Wed/Thu can at least get by Friday evening latest.

If you can meet the bonus requirements (usually need to spend on their cards, pay a number of bills, make large fresh deposit, and invest/insure) consistently EVERY MONTH, choose the savings accounts as overall their interest rate higher.

If you want pure savings, Versa is better.

Nope, its dependant on Affin Hwangs payout date, just that you happen to deposit near it 😂 it is a consistent around 14 day cycle as you've noted.

No, based on record via Morningstar

The difference is only 3 to 4 decimals of a ringgit the difference between 'low' NAV and 'high' NAV will make no significant difference to your profit unless you're depositing in hundreds of thousands and you're doing this for decades (if so, why on earth are you investing into MMFs like Versa which cannot beat inflation or even EPF minimum rate, MMFs should be strictly used for short term deposits)

This post has been edited by DragonReine: Jul 7 2021, 01:29 AM

Versa have a 1-2day delay on the bar "progress", so don't rely on it. Which is why you see your "gains" graph is not smooth with sometimes a few days delay before update.

This post has been edited by DragonReine: Jul 7 2021, 10:53 AM