KUALA LUMPUR: TNG Digital Sdn Bhd (TNGD) will implement a 1% fee for all credit card reloads starting February 23, 2024.
Reloads via DuitNow Transfer and debit cards remain free.
“This move is to curb excessive cashing out of credit card balance to bank accounts and offset the heavy cost of credit card reloads which TNGD has been subsidising since its inception.
“Users are encouraged to use bank transfers via DuitNow which has exactly the same process as fund transfer among bank accounts,” it said in a statement.
TNGD chief executive officer Alan Ni said: "As the largest financial institution serving over 20 million e-KYC verified users, we must find a fine balance between convenience, security, and the long-term cost sustainability of our company.”
“To provide consumers more options, we still allow credit card as one of the reload channels, but we also urge users to reload their eWallet via DuitNow Transfers or debit cards, which are both free of charge.”
