Touch 'n Go, GO+ 4% Bonus rate, thoughts on this?

[nontu]

On the 1st of November, Touch 'n Go launched a campaign under the GO+ investment features, which provide an additional 4% p.a. bonus rate on top of the daily return rate (1.47% p.a). The campaign only lasts for 3 months, which starts from 1 November 2021 until 31 January 2022. It is also stated that the campaign will end once the maximum allocation of RM4 million is reached.

The GO+ investment is essentially a money market fund managed by the Principal Asset Management, called Principal e-Cash Fund. As of 31 August 2021, it has reached 129.02 million of fund size (further details on Principal e-Cash Fund: https://www.principal.com.my/en/ecfa).

Although the bonus return rate will only apply up to a balance of RM9,500 and is only last for three months, will this return (5.47%) attracts you to invest the maximum cap of RM9500?

 

[tidasolution]

@nontu Invested at day 1, the returns are legit great, process is smooth, and it's withdrawable the moment bonus run out anyway. Not sure if the 4mil allocation can last until January, but I'd be happy to take every single possible day of returns.

I recommend investing RM9400 instead or RM9490 and withdraw RM10 every few day or so. If your returns exceeds your GO+ 9500 limit, the bonus return will take around 3 day to go into the eWallet instead.

 

[wombatwarrior]

@tidasolution Hello, sorry bit of an investing noob, could you explain why you invested RM9400 and withdrew RM10 every day instead of the maximum cap of RM9500? Thank you.

 

[jewhite95]

@wombatwarrior Heshe said cuz the bonus return would then take 3 days instead of daily. So heshe suggest to deposit a maximum + (the would be) interest that would not go over the 9500 cap. And withdraw daily to keep it below 9500

 

[nontu]

@tidasolution Did you invest RM9400? I'm not really sure to invest since it's not protected by PIDM, albeit it's considered a low-risk investment and a Shariah-compliant fund. However, even the Touch n' go website stated the balance in the GO+ account should not be treated as a deposit and is not capital guaranteed. May I know what are your thoughts on this?

 

[tidasolution]

@nontu Yeap, I have 9490 in it. I usually has a thousand or so in it normally too before this since I use TnG heavily.

It's underlying fund is a money market fund, it's extremely boring and stable, you are looking at 2.4% p.a. normally for this sort of funds. The underlying asset is like bank FDs and what not to my knowledge, it's very hard to lose money in it baring catastrophic scenarios.

 

[tesoro]

@tidasolution Hi, can I ask for some clarification that if I max out my go+ 9500 limit, I will still get the bonus but only aft 3 days and also into my normal ewallet balance right? Tq

 

[tidasolution]

@tesoro Yeah, that should be right.

 

[tesoro]

@tidasolution And can ik what for for doing this instead of just waiting 3 days, sry for asking so many ques, newbie here

 

[tidasolution]

@tesoro Haha, it just means I'm less likely to get DMs asking "where is my money??? scam!!!" if someone put in 9500 and didn't get the money the next day.

It actually doesn't matter.

 

[tesoro]

@tidasolution I see, tqvm

 

[gtfox26]

@nontu Wow, now they are even outdoing ASB, apa lagi mau

 

[sheshell675]

@nontu Hmm...? Should I invest? I not sure because I don't know if will trigger my company personal dealing policy.

 

[gtfox26]

@sheshell675 you touch n go staff ah?

 

[sheshell675]

@gtfox26 No. But an investment company

 

[gtfox26]

@sheshell675

Hmm...? Should I invest? I not sure because I don't kn

well, are you allowed to use an e-wallet?

 

[alicegrace]

@sheshell675 Maybe ask compliance?

 

[sandyoriane]

@sheshell675 money market/cash instruments are typically exempt in most AM firms.

but yeah, always ask compliance lol

 

[cebell]

@nontu Sadly if you're late to the party like me, didn't have rm200 in the go+ from day 1 you're no longer eligible. Oh goodbye sweet sweet free money.

 

[spiritofdiscernment]

@cebell Is it a requirement to have RM200 in the account since 1 Nov 2021? Or will you not get the return for the days you go below the minimum only?