Go+ by Touch ‘n Go eWallet offers a seamless way to earn daily returns on your idle cash while keeping your funds easily accessible.
With just RM10 to get started, it’s an excellent option for anyone looking to maximize their savings without committing to long-term or high-risk investments.
In this blog, we’ll break down everything you need to know about Go+, from how it works to its benefits, and guide you on how to get started effortlessly.
What is Go+ by Touch ‘n Go?
Go+ is a micro-investment and savings feature built directly into the Touch ‘n Go eWallet.
It allows you to earn daily returns on your idle cash by investing in a money market fund managed by Principal Asset Management Berhad, a trusted and licensed financial institution regulated by the Securities Commission Malaysia.
Unlike traditional savings accounts, Go+ offers the convenience of seamless integration with your eWallet, making it easy to invest, track your earnings, and withdraw funds anytime you need them.
Benefits of Using Go+
Go+ by Touch ‘n Go eWallet offers a range of benefits, making it an attractive option for those looking to grow their savings with minimal effort.
Here are some of the key advantages:
1. Earn Daily Returns
With Go+, you’ll see your savings grow every day. The returns are credited directly to your Go+ balance, giving you a sense of progress as your money works for you.
2. Low-Risk Investment
Your money is invested in a money market fund managed by Principal Asset Management, known for its focus on preserving capital while generating stable returns.
3. Flexible Withdrawals
Need your money? No problem! You can withdraw your funds from Go+ anytime and transfer them back to your Touch ‘n Go eWallet instantly, with no penalties or waiting period.
4. Accessible to Everyone
With a minimum investment of just RM10, Go+ is an easy and affordable way to start investing. It’s perfect for beginners or anyone looking to test the waters of financial growth.
5. Seamless Integration
Go+ is fully integrated with the Touch ‘n Go eWallet, allowing you to manage your investments, track your earnings, and withdraw funds in just a few taps on your phone.
6. Trusted and Regulated
The fund is managed by Principal Asset Management Berhad, a licensed entity regulated by the Securities Commission Malaysia, ensuring that your investments are in safe hands.
7. Shariah Compliance
The Principal e-Cash Fund adheres to Islamic principles, making it accessible for Muslim investors seeking ethical investment options.
8. Quick Reload Payment
Highlight the seamless payment feature where Go+ can act as a backup for eWallet transactions, ensuring convenience during purchases or toll payments.
9. Flexibility in Fund Usage
Reinforce that funds in Go+ are not just for savings but can also be used for transfers, payments, and tolls, making it versatile.
How to Start with Go+
Getting started with Go+ by Touch ‘n Go eWallet is quick and straightforward. With just a few simple steps, you can begin earning daily returns on your savings.
Eligibility Details:
- Be Malaysian citizens.
- Be at least 18 years old.
- Complete the account verification (KYC) process on the Touch ‘n Go eWallet.
Step 1: Download or Open the Touch ‘n Go eWallet App
- If you’re new to Touch ‘n Go eWallet, download the app from the App Store (iOS) or Google Play Store (Android) and complete the registration process.
- Existing users can simply log in to their eWallet account.
Step 2: Navigate to the Go+ Feature
- On the home screen of the app, look for the Go+ icon or tap the “More” menu to locate it.
- Select Go+ to start the registration process.
Step 3: Upgrade Account to Enable Go+
- Click on Upgrade Now.
- Step 1: Complete account verification – you need to submit your ID and personal details via Touch ‘n Go e-Wallet.
- Step 2: Update your personal details on Touch ‘n Go e-Wallet.
- Step 3: Receive verification that your upgrade is successful and begin to Cash In to GO+.
- Please note that the details requested are part of the mandatory regulatory requirements when you open an investment account, such as Principal e-Cash, through GO+.
Step 4: Add Funds to Your Go+ Account
- Once your account is activated, you can transfer funds to Go+ directly from your Touch ‘n Go eWallet.
- The minimum deposit is RM10, making it accessible for anyone to start.
Step 5: Track Your Earnings
- After depositing funds, you’ll start earning daily returns, which will be reflected in your Go+ balance.
- You can check your Go+ balance and earnings anytime within the app.
Step 6: Withdraw or Spend Your Funds
- You can withdraw your Go+ balance back to your eWallet anytime without penalties.
- Alternatively, use your Go+ balance to make purchases directly via the eWallet.
Pro Tip: To maximize your savings, consider setting a habit of regularly transferring idle funds from your eWallet to Go+. Over time, the daily returns will help your savings grow steadily.
Zakat Reminder: Include a note for Muslim users to remember their zakat obligations on their returns.
Projected Returns for Go+ Balances
Here’s a table summarizing the potential growth of RM100, RM1,000, and RM10,000 over different timeframes, assuming a 3% annualized return (approximately 0.0082% daily return):
| Starting Balance | Daily Return (approx.) | After 1 Month (30 days) | After 6 Months (180 days) | After 1 Year (365 days) |
| RM100 | RM0.0082 | RM100.25 | RM101.50 | RM103.00 |
| RM1,000 | RM0.082 | RM1,002.50 | RM1,015.00 | RM1,030.00 |
| RM10,000 | RM0.82 | RM10,025.00 | RM10,150.00 | RM10,300.00 |
Key Notes:
- Compounding Effect: Returns are calculated daily and compounded, meaning the daily earnings are reinvested, resulting in higher returns over time.
- Variable Returns: The above projections assume a fixed 3% annualized return. Actual returns may vary depending on market performance.
- Assumptions: These projections exclude additional deposits or withdrawals.
This table provides a clear and concise way to visualize potential earnings over time, showing the value of even modest investments in Go+.
Things to Consider Before Using Go+
While Go+ offers an easy and convenient way to earn potential returns on your savings, it’s important to be aware of certain factors before you decide to invest your funds.
Here are some key things to consider:
1. Not Capital Guaranteed
The funds in Go+ are not guaranteed, and there is no capital protection offered by PIDM (Perbadanan Insurans Deposit Malaysia).
This means that, although the Principal e-Cash fund aims to preserve capital, you are still exposed to market risks.
It’s important to understand that the value of your balance could fluctuate depending on the performance of the fund.
2. Returns Are Not Fixed
Go+ offers potential returns based on the performance of the underlying money market fund.
While the returns are generally stable, they can change due to factors like interest rates or market conditions.
Your daily earnings might be higher or lower than the projected rates.
3. Zakat Responsibility
As the Go+ fund is not automatically subject to zakat deductions, Muslim investors are advised to calculate and pay their zakat obligations independently.
This responsibility applies to the returns generated from the fund.
4. Liquidity and Fund Access
Accessibility: While Go+ allows easy access to your funds for transactions, it’s important to note that the Go+ balance should not be treated like an e-money or deposit account.
Funds can be transferred, used for payments, or withdrawn, but they are not insured in the same way that a fixed deposit or savings account would be.
Not for Long-Term Savings: If you’re seeking to park your money long-term with minimal risk, Go+ may not be the best option compared to traditional savings accounts or fixed deposits.
It’s more suited for short- to medium-term savings where you want to earn some returns without locking your funds.
5. Quick Reload Payment Limitations
Transaction Restrictions: While Go+ provides a seamless payment option through Quick Reload Payment, there are limitations on how much can be transferred depending on your eWallet tier.
Additionally, Quick Reload Payment only works for Touch ‘n Go merchants and may not be applicable in all situations.
6. Not a Savings or Deposit Account
Clarify Your Financial Goals: Go+ should not be considered a traditional savings account.
It is a feature that offers returns based on a money market fund, and its returns are influenced by market conditions.
If you’re looking for guaranteed returns or want a place to store emergency funds with full security, a savings account might be a more appropriate choice.
Conclusion
Go+ by Touch ‘n Go is a versatile and convenient tool for anyone looking to manage their savings and earn potential returns with minimal effort.
Whether you’re aiming to save for a specific goal, build an emergency fund, or simply grow your funds over time, Go+ offers a seamless and low-risk way to make your money work for you.
By using Go+ wisely, you can achieve your financial goals while earning potential returns on your savings.
Have you tried Go+? Or are you thinking about starting? I’d love to hear about your experiences and any questions you may have!
Drop a comment below to share your thoughts, or feel free to reach out directly to me via email [email protected]
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