Recently, Touch 'n Go released a new feature for its e-wallet. The GOremit feature allows you to send money to 10 countries altogether. Depending on the country, you can transfer funds directly to a bank account or an e-wallet or have it as a cash pick-up.
TNG has announed that it aims to promote a more accessible financial service to the public via this feature. It benefits foreign workers, international students and ex-pats because it provides them with a solid option to transfer money back home. To use this feature, simply complete your account verification via the electronic Know Your Customer (eKYC) process.
This feature is great because it simplifies the fund-transferring process. It is also quicker and more secure. Hence, you can safely complete entire transactions from your e-wallet. Additionally, you can have the best exchange rates with the lowest fee possible.
For example, a bank transfer to Indonesia, Vietnam, and Singapore costs RM10. Meanwhile, a bank transfer to Vietnam would cost RM15. Remember, the transfer fee fanges from RM8 to RM15 based on the country and mode of payment.
For most countries, it will take around 24 hours for the recipient to receive transferred funds. However, countries such as Vietnam, Bangladesh, and the Philippines will only take 15 minutes for funds to reach the intended recipient via the e-wallet or cash pick-up. Currently, GOremit supports e-wallet transactions for bKash (Bangladesh), GCash and PayMaya (Philippines).
For further info on GOremit, you can refer to this FAQ. We believe this progressive move could benefit more Malaysians in the future, especially Malaysians abroad.
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