TNG Digital has officially rolled out its GOremit feature, a digital remittance service housed within the Touch ‘n Go (TNG) eWallet that lets you send money to a total of 10 countries in the Asian region. However, it is only available to Pro and Premium TNG eWallet users, namely those who have completed their account verification via the electronic Know Your Customer (eKYC) process.

According to TNG eWallet’s FAQ for the service, users are currently able to send money directly to recipients in the following countries – with more to come in the future:

• Indonesia
• The Philippines
• Singapore
• Thailand
• Vietnam
• Bangladesh
• India
• Nepal
• Pakistan
• Sri Lanka

Depending on the country that the recipient is in, you’ll have the option to send money directly to their bank accounts or local e-wallets, or even have it transferred to a cash pick-up point to be collected. Notably, some local e-wallets in these countries that have collaborated with TNG eWallet to accept funds transferred via GOremit include bKash (Bangladesh), as well as GCash and PayMaya (the Philippines).

Of course, the method of transfer selected will also impact the time required to complete the transaction (for the recipient to obtain or collect the remitted money); the process may take as little as 15 minutes or as long as 24 hours:

Transfer method	Estimated time
Bank transfers	Funds to be credited into recipient’s bank account within 24 hours
E-wallet transfers	Funds to be credited into recipient’s e-wallet within 15 minutes
Cash pick-up	Funds available to be collected by recipient in 15 minutes

TNG eWallet stressed that its GOremit service offers competitive exchange rates. However, there will be a transfer fee charged to use the feature, which ranges between RM8 to RM15. The rate depends on the country that you are transferring the money to (transfer fee), as well as the transfer method that you opt for. As an example, remitting money to a recipient’s e-wallet in Bangladesh will cost you RM8, whereas to his or her bank account will set you back by RM10. Similarly, sending money to a bank account in India will also cost you RM10. Meanwhile, sending money to someone in Nepal will incur a fee of either RM10 (bank account) or RM15 (cash pick-up).

Once you’ve approved your transactions, push notifications will be sent to you to allow you to track the progress of your transfer. You can also obtain a transaction receipt to send to your recipient.

Some other things that you may also want to take note of include the transfer limits, including transaction, daily, monthly, and annual limits. These will differ depending on whether you have upgraded your TNG eWallet to the Pro or Premium tier, as seen below:

	TNG eWallet (Pro)	TNG eWallet (Premium)
Transaction limit	RM5,000	RM9,999.99
Daily limit	RM5,000	RM25,000.00
Monthly limit	RM5,000	RM25,000.00
Annual limit	RM60,000	RM300,000.00

To access the GOremit feature in your TNG eWallet, simply tap on the “More” tile on your eWallet homepage; you’ll find the feature under the Financial Services section.

Chief executive officer of TNG Digital, Alan Ni said that the launch of the GOremit feature is aimed at providing better convenience and financial inclusivity for its diverse base of users. “We are providing an inclusive solution with competitive exchange rates that meet the needs of millions of foreign workers that are here in Malaysia. Users who have the need to transfer money conveniently to their children studying abroad or transfer on behalf of their domestic helpers can do so via GOremit,” he said.

(Sources: TNG eWallet, FintechNews Malaysia)

• TAGS:
• Alan Ni
• GCash
• International remittance
• PayMaya
• Remittance Services
• TNG Digital
• TNG Digital Sdn Bhd
• TNG eWallet GOremit
• Touch 'n Go
• Touch 'n Go eWallet