5th November 2024 - 3 min read
Moomoo Malaysia recently announced Cash Plus, a cash management solution offering investors a selection of money market funds (MMF) to generate returns on un-invested funds in their Moomoo account. This new feature is also accompanied with the introduction of Moomoo SmartSave, an automated service designed to maximise returns on idle cash.
Cash Plus offers a selection of money market funds, including Shariah-compliant and USD-denominated funds, offering investors the ability to subscribe to their preferred funds seamlessly within the Moomoo app. A key differentiating factor is the instant redemption feature, where investors looking to invest into stocks, ETFs, or subscribe for IPOs in Moomoo can utilise existing funds deposited in any MMF without having to perform a manual redemption or withdrawal and wait for at least one business day for the funds.
Meanwhile, SmartSave is a fully automated cash management tool that allows investors to optimise their idle cash. SmartSave continuously monitors and allocates uninvested funds in the Moomoo Universal Account into Cash Plus at the start of each business day, ensuring that cash is always working to generate returns, with no manual intervention required. Given that Cash Plus offers instant redemptions for investments, investors stand to generate positive yields on idle cash automatically.
“For many investors, the need for stable returns without compromising liquidity is paramount. Cash Plus is built around these core principles, offering a low-risk, flexible solution that provides meaningful returns while maintaining immediate access to funds. This product allows investors to balance security with the opportunity to grow their wealth effectively,” said Ivan Mok, CEO of Moomoo Malaysia.
To celebrate the launch of Moomoo Cash Plus and SmartSave, Moomoo Malaysia is currently running a campaign that offers 5% p.a. guaranteed returns for the first RM10,000 deposited in any MMF in Cash Plus for 30 days.
In addition, Moomoo Malaysia has also refreshed its tiered rewards for new users who make their first deposit into the moomoo platform, where they will be eligible for exciting rewards which are stackable based on their deposit amount:
As part of a collaboration between RinggitPlus and Moomoo Malaysia, you can also receive RM50 in Touch ‘n Go eWallet Credits guaranteed when you sign up through RinggitPlus. All you need to do is download the moomoo app via RinggitPlus, deposit a minimum of RM200 into your Moomoo Malaysia universal account, and enjoy the RM50 Touch ‘n Go eWallet Credits to further fund your investments. Click here to find out more.
Visit the Moomoo Cash Plus landing page to learn more.
As a creative content writer, Eloise has covered finance, business, lifestyle topics, and even moonlights as a singer-songwriter outside of RinggitPlus. Her current interests are learning the best ways to optimise spending and credit card hacks to gain more airline miles.
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