Besides introducing its GoPinjam personal loan feature, Touch ‘n Go eWallet (TNG eWallet) has recently allowed its users to make instant transfers to other users outside its eWallet. Back in August 2021, TNG eWallet had allowed users to receive funds via DuitNow but now you can use DuitNow to send funds from your eWallet to other bank accounts.
Prior to this, the only way to transfer funds from TNG eWallet to a bank account is via the Go+ investment feature. However, it takes at least one business day for the transfer to be completed. With the new DuitNow Transfer feature, the fund transfer is immediate and it still remains free of charge.
How to transfer funds from Touch ‘n Go eWallet to bank accounts
To transfer funds from your TNG eWallet to other accounts, just tap on the Transfer icon on the home screen. By default, you should see the standard eWallet to eWallet transfer which uses your contact list. To transfer outside of TNG eWallet, tap on DuitNow.
You will be given the option to transfer via Bank/eWallet, Mobile Number, IC/Passport, MyTentera ID or Business Registration Number. If you choose mobile number, all you’ll need is just the registered mobile number of the recipient who has activated DuitNow. For bank accounts, just select the bank/provider, account number and the type of transfer (Fund Transfer, Loan Payment or Credit Card).
Once you’ve confirmed the transaction, the fund transfer should be done instantly and you’ll receive a notification if it is successful. Take note that a verified TNG eWallet account is required to use the transfer feature.
Unlike the normal TNG eWallet to eWallet transfer and other eWallet transactions, the DuitNow transfer feature will only work with your actual eWallet balance. This means if you keep most of your funds in Go+, you would need to cash out the desired amount to your eWallet first before performing the DuitNow transfer.
In case you missed it, TNG eWallet has introduced new restrictions to curb credit card cash-outs and transfers. On the eWallet level, the app will show the total transferable and non-transferable eWallet balance. The amount that is reloaded via credit card or government initiatives will be deemed as non-transferable. For those who use a credit card to reload, verified Premium users are allowed to transfer up to a permittable quota of RM5,000 per month. You can learn more about it here.
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- Touch ‘n Go eWallet users can now receive funds from bank accounts via DuitNow