Starting 23rd February, your TNG eWallet topups with your credit card will cost an extra 1%. Reloads via DuitNow or debit cards will still be free, so TNG is clearly trying to get its users to use those platforms to transfer funds into the TNG eWallet than to reload it with credit cards.
This move is apparently to overcome the cost of credit card reloads which has been free since TNG eWallet was launched. Aside from that, TNG eWallet does allow you to transfer out your balance to your bank account. When used in conjunction with credit card reloads, this is somewhat of a loophole to get cash advance without the usually hefty cost of doing it directly via your credit card. And this can get quite costly for TNG Digital to continue supporting, which is why they have already implemented a limit for this back in 2022.
I have personally used TNG eWallet to pay my friends back for meals and stuff, when I didn’t feel like using my cash. So this 1% fee might make think twice about using it for this purpose, but then again, I do have a credit card that gives me cashback for e-wallet topups, so I think I would be perfectly fine even if I decide to continue this habit.
With all that said, I think most users will be fine to use TNG eWallet without relying on credit card reloads. The GO+ investment feature does net pretty decent returns, and it seamlessly transfers money out to the eWallet balance for instant payments or NFC card reloads. Perhaps it’s just time to drop some money into TNG eWallet and leave it there to accrue interest for you? Money makes money, and all that jazz? It’s worth mentioning that with device binding and biometric security implemented in TNG eWallet, security is quite a non-concern at this point.