The Touch ‘n Go eWallet has entered the mainstream financial services sector by being the first e-wallet in Malaysia to launch an investment product, known as GO+.

It allows users access to low risk money market investments for as low as RM10.

Anchored on the Principal e-Cash Fund managed by Principal Asset Management Bhd, GO+ enables Touch ‘n Go eWallet users to earn returns on their GO+ balances and returns will be credited daily.

It also comes with a cash-out feature that allows the seamless movement of funds between the user’s eWallet and their designated bank accounts.

The GO+ balances can also be used for all eWallet payments use cases.

GO+ is available effective March 29, 2021 to Touch ‘n Go eWallet users who are Malaysian citizens above 18 years old.

What is GO+?

GO+ is a new TNG eWallet feature launched by TNG Digital Sdn Bhd (“TNGD”) which allows the balance in your GO+ account to earn potential returns. The underlying fund for GO+ is Principal e-Cash – a money market fund managed by Principal Asset Management Berhad (“Principal Malaysia”) that aims to provide investors with liquidity and income. The balance in the GO+ account should not be treated as E money, deposit; and is neither capital guaranteed nor capital protected by PIDM.

Who is eligible to upgrade to GO+?

Any Malaysian who is above 18 years old and a TNG eWallet user who has completed the account verification process.

If I am a foreigner, can I upgrade to GO+?

GO+ is not available for foreigners.

What are the benefits of investing in Principal e-Cash via GO+?

• Easy and fast to open the investment account – just reload your GO+ balance
• Affordable initial investment amount i.e. minimum reload is RM10
• Seamlessly reload into your TNG eWallet balance via Quick Reload Payment
• Make Cash out requests anytime you like

What is Quick Reload Payment?

Quick Reload Payment is a service enabled when you sign up for GO+ whereby whenever your TNG eWallet balance is insufficient to make a payment, you may utilise the exact amount needed from GO+ to complete your payment seamlessly. All payments are supported except for Peer-to-peer (P2P) transactions.

Who do I contact should I need help?

For TNG eWallet and GO+ (Unable to reload into TNG eWallet, Problem with 6-digit pin, How to Cash in into/Cash out from GO+)

You may email your queries to https://tngd.my/careline-webform  

You may also call the TNGD careline at +(603) 5022 3888. The operating hours are Monday to Sunday, 7.00am to 10.00pm (including public holidays).

For Principal e-Cash (Earning calculation, failed Cash Out to bank account, more info about the fund and Principal Malaysia)

You may email your queries to service@principal.com.my.

You may also call Principal Customer Care at +(603) 7723 3800. The operating hours are Monday to Thursday: 8.45am to 5.45pm; Friday: 8.45am to 4.45pm (closed on national and Selangor public holidays).

What should I take into consideration before upgrading to GO+?

You must read and understand the contents of the Product Highlight Sheet and Prospectus for Principal e-Cash. Principal e-Cash is a money market fund and investing in it is not like placing a deposit with a financial institution.

Is Principal e-Cash Shariah-compliant?

Principal e-Cash is not a Shariah-compliant fund.

5 things you need to know about Touch ‘n Go+

Touch ‘n Go has officially launched Go+ today, a new investment feature which allows its eWallet users to earn daily returns with their balance. The provider aims to acquire 1 million Go+ users by the end of this year.

Here are 5 things you need to know about the micro-investment feature.

Anchored on Principal e-Cash Fund

Go+ is positioned as a financially inclusive investment product which allows Touch ‘n Go eWallet users and all Malaysians to gain access to low risk money market investments. Touch ‘n Go is the first eWallet in Malaysia to receive the green light from Securities Commission of Malaysia to operate as a Recognised Market Operator (RMO).

The Go+ offering is anchored on Principal e-Cash Fund, a money market fund managed by Principal Asset Management (Principal). Principal is a joint venture between Principal Financial Group and CIMB Group Holdings.

Get started with only RM10

Touch ‘n Go eWallet users can start their investment with a minimum cash-in of RM10. This is available to all Malaysians who are aged 18 years old and above with a verified account. You can also make additional cash-in at any moment with a minimum amount of RM10.

You can cash-in with your existing Touch ‘n Go eWallet balance or via online banking through FPX. The bank account must be linked to your IC number.

Daily returned credit to your account

Go+ allows you to earn daily earnings from your Go+ total balance. You must cash-in before 4pm to start earning the next day. If you cash-in after 4pm, you will start earning daily returns from the following day.

At the time of writing, the listed Daily Return Rate is at 1.43% per annum. After 3 days, we have accumulated RM0.0055 in earnings with a RM50 cash-in.

There’s no sales charge when you cash-in but there’s management fee up to 0.45% per annum and a trustee fee of up to 0.03% per annum. According to Touch ‘n Go, the eWallet will display net earnings after deducting the fees.

When asked about the low interest rate, Principal CEO Munirah Khairuddin said the e-Cash Fund isn’t meant to compete with fixed deposits. However, she shared that Go+ provides the convenience for users to make withdrawals at anytime with no uplift fees or penalty charges. At the current listed 1.43% per annum, the returns are comparable to bank current accounts.

Not Shariah Compliant nor protected by PIDM

At the moment, Principal e-Cash that’s offered by Go+ is not a Shariah-compliant fund and it isn’t treated as E-money or deposit and it is neither capital guaranteed nor capital protected by PIDM. Touch ‘n Go understands the need of its consumers and a Shariah-compliant fund option is still in the works.

No charge on cash out

Go+ users will have the option to cash-out directly to eWallet or to their local bank account. Cash-out to eWallet is done instantly while transfer to bank account will take one business day if the request is made before 4pm. Touch ‘n Go doesn’t impose any charges for making a cash-out request.

If your Touch ‘n Go eWallet is low in balance, the Quick Reload Payment feature will automatically reload your eWallet with the exact amount required.

To get started with Go+, just upgrade your account by tapping on the Go+ icon on the home screen. It’s now available on the latest TNG eWallet version that you can download on the Apple AppStore, Google PlayStore and Huawei AppGallery.