25 Aug - 2 min read
Touch ‘n Go (TNG) eWallet has now enabled the DuitNow Transfer function, making it the first e-wallet in Malaysia that allows you to receive funds from online banking platforms or other e-wallets to your TNG eWallet by entering either your DuitNow ID or your TNG eWallet account number.
DuitNow Transfer is a feature that is offered as part of the DuitNow ecosystem, which consists of 32 participating banks and e-money mobile apps. It is a real-time online fund transfer service that lets you transfer and receive funds by entering your DuitNow ID instead of an account number. In the case of TNG eWallet, DuitNow will assign a unique account number that is linked to your TNG eWallet if your mobile number has already been registered with another account.
This new feature will require users to link their TNG eWallet account with DuitNow, which can be seen from the screenshots above. Once the linking process is completed, users can now receive funds from participating banks and e-wallets via DuitNow Transfer.
For now, TNG eWallet has only enabled receiving of funds via DuitNow Transfer, and not yet transferring funds out of TNG eWallet – this feature is “coming soon”, according to TNG’s FAQ.
Alternatively, it is also possible for you to receive funds through DuitNow by sharing your TNG eWallet account number, which can be found either in your account profile or the “Receive” tab (accessed via “Transfer” from the main page of the app). This transfer method can be utilised by users who have yet to verify their TNG eWallet accounts.
As these transfers are done in real time, recipients will receive their funds almost immediately upon successful transaction – and at zero fees. TNG further explained in its FAQ that there is no specified maximum limit to the funds that you can receive via DuitNow Transfer. Instead, you are restricted by your existing wallet limit – which is, in turn, decided by your current e-wallet tier.
TNG eWallet has three tiers with differing e-wallet sizes, namely Lite (RM200), Pro (RM5,000), and Premium (RM20,000). The Premium tier was just recently introduced in early August 2021, offering not just an increased e-wallet size, but also a higher annual transaction limit.
For more information, TNG Digital has a handy DuitNow Transfer FAQ.
Subscribe to our exclusive weekly newsletter and we’ll bring you the week’s highlights of financial news, expert tips, guides, and the latest credit card and e-wallet deals.
Stay tuned for what’s to come next in the personal finance world