No. PIDM protects your bank deposits (like savings and fixed deposit) in case a bank closes down. It does not cover fraud or unauthorised transactions.
TNG eWallet’s Unauthorised Transaction Report is our own way of protecting you if someone uses your eWallet without your permission.
Rest assured, we also follow Bank Negara Malaysia’s (BNM) rules. All your eWallet balances are stored safely in trustee accounts, managed by licensed banks, and cannot be used for anything else except transactions that you approve. This means your money is kept secure and not used for business purposes.
Because of this setup, even if an eWallet company shuts down, your funds are still protected and can be returned to you.
Learn how your eWallet funds are secured.