TNG eWallet offers a superior, well-rounded financial experience beyond traditional banking because:
1) TNG eWallet offers a more comprehensive protection: PIDM only covers up to RM250,000 per depositor per bank in the event the bank goes bankrupt. It does not cover fraud, scams, or investment losses. TNG eWallet provides broader protection through a Money Back Guarantee for unauthorised transactions and Wallet Safe Insurance with AIA, covering theft and other risks.
2) Secure fund handling: Banks can invest or lend your deposits, making your money dependent on their financial health, which is why PIDM coverage is necessary. E-wallets, however, keep users’ funds in separate accounts managed by reputable and licensed trustee funds. Even if an e-wallet shuts down, users' money is safely refunded from these accounts. This explains why previous e-wallet closures in Malaysia never resulted in refund issues. Since e-wallets cannot use funds for operations or investments, the money is strictly reserved for your transactions, offering security similar to PIDM.
TNG eWallet combines flexibility, security, and top financial products, offering a one-stop solution for daily transactions and long-term financial planning.