Yes, your money in TNG eWallet is secure. While PIDM protection covers traditional bank deposits and applies only if the bank goes bankrupt, e-wallets like TNG eWallet operate differently.
Bank Negara Malaysia (BNM) mandates that your e-wallet funds be safeguarded through trustee accounts managed by reputable and licensed trustee funds. These accounts are strictly regulated, meaning the eWallet provider can only use the funds to make payments you have authorised—nothing else.
Even if the e-wallet company ceases operations, your money remains safe in the trustee accounts.