Touch ‘n Go eWallet (TNG eWallet) has introduced a new cashback promotion, offering 2% cashback for overseas spending when using their Visa prepaid card.
This promotion runs from July 1st to December 31st, 2024, and applies to eligible international transactions made over a point-of-sale (POS) terminal. For international online payments, the cashback is set at 1%.
This new offer positions the TNG eWallet Visa prepaid card as a competitive option for travelers.
New Benefits of the TNG eWallet Visa Prepaid Card
The 2% cashback on overseas transactions makes the TNG eWallet Visa Prepaid Card an appealing choice for international travel. By utilizing this card, users can benefit from favorable foreign exchange rates with no markup fees, which is a significant advantage for those looking to minimize costs on overseas purchases.
One of the standout features of the TNG eWallet Visa Prepaid Card is the absence of markup fees on foreign transactions. This makes it more cost-effective compared to other cards that might impose additional charges for currency conversion.
Integrating with Alliance Bank Visa Infinite and Visa Platinum Credit Cards
The introduction of the 2% cashback by TNG eWallet Visa Prepaid Card adds a valuable dimension to the Alliance Bank Visa Infinite and Visa Platinum credit cards. As I've mentioned several times in my blog, reloading your E-Wallets with the Alliance Bank Visa credit cards and paying with your E-Wallets nets you a 0.53 MPR on all transactions, whether local or overseas.
Hence, it is without a doubt that you should prioritize spending with your E-Wallet for maximum airline miles accrual. Once you've hit the limit of RM3,000 for each credit card, then you should proceed to spend using your credit cards directly.
Although the TNG eWallet imposes a 1% top-up fee, the 2% cashback effectively negates this fee, resulting in a net 1% cashback for users. This benefit is particularly useful for transactions made overseas, as the cashback does not apply to local spending.
Hence, Alliance Bank Visa Infinite and Visa Platinum credit cardholders can strategically use the TNG eWallet Visa Prepaid Card to maximize their rewards. By topping up their TNG eWallet using their Alliance Bank credit cards, they can offset the 1% top-up fee with the 2% cashback on overseas spending, effectively earning a 1% net cashback.
Limitations and Considerations
It's crucial to note that not all transactions qualify for the cashback promotion. Non-eligible merchant categories include airlines, railroads, local commuter transportation, taxis, petroleum, cash withdrawals, insurance, government services, and gambling, among others. Users should review the terms and conditions to ensure their spending qualifies for the cashback.
The full list of exclusions can be found here.
For frequent travelers, this offer is particularly beneficial for in-store purchases made overseas. By aligning spending with eligible categories, users can maximize their cashback benefits. However, they should also consider the potential costs associated with non-eligible transactions and ATM withdrawals.
Final Thoughts
The TNG eWallet Visa Prepaid Card’s 2% cashback offer for overseas spending is a significant enhancement for Alliance Bank Visa Infinite and Visa Platinum credit cardholders.
It effectively nullifies the 1% top-up fee and provides a net 1% cashback, making it an attractive option for international travelers. While the cashback promotion has its limitations, strategic use of the card can yield substantial benefits.
For those planning to travel abroad, leveraging this cashback offer can lead to meaningful savings. Always remember to check the eligible transaction categories and plan your spending accordingly to make the most of this promotion. Happy travels and happy saving!
