TNG Wallet Hong Kong: Your Ultimate Guide

Interested in the TNG Wallet Hong Kong? It’s no surprise - some 600,000 people use the TNG e Wallet - that’s around 8% of the population of Hong Kong¹. If you’re thinking of joining them, this guide is for you.

We’ll walk through the features, fees and limits of the TNG Wallet and TNG Wallet Mastercard. To help make sure you get the best deal on all the services you’re looking for, we’ll also introduce Wise as a way to make cheap, fast global remittances with a wider reach than TNG. Let’s dive right in.

Sending money to your loved one? Try Wise🚀

What is TNG Wallet?

The TNG e Wallet is a digital wallet where you can hold funds, pay your friends, shop on and offline, and earn on your spending.² Use the ewallet when you’re making mobile payments, and order a TNG Mastercard for times when you need to present your physical card. You can also add your Mastercard to Google Pay for more flexibility.

You’ll be able to pick the membership level that suits your needs, and access a broad range of services including the following³:

• Top up conveniently, in cash, online or through your banking platform
• On and offline merchant payment through the app and linked Mastercard⁴
• Earn TNG reward points and use them to offset payment costs
• Person to person payments - request payment from friends
• Call and message friends through the app
• Global remittances and foreign currency management in up to 15 currencies
• Make cash withdrawals from dedicated service points
• Withdraw funds to your registered bank account easily
• Pay for your taxi rides around Hong Kong
• Donate to charities easily
• Hold electronic coupons and tickets in your wallet instead of in paper form

TNG Global Remittance

You can use the TNG transfer money service to send global remittances to 16 countries⁵. The turnaround time, details required and availability depends on the country you’re sending to. For example, if you send a payment to Australia on a weekday before 12 noon it’ll usually arrive the next working day. Miss the lunchtime cut off and your payment will take 2 days. And send at a weekend or out of hours and it’ll likely take longer.

For some countries you can also choose to send your payment for cash pickup via a local agent. In this case the turnaround time could be much faster - a matter of minutes in some cases.

It’s important to note that there are fees to pay when sending money overseas with TNG Wallet⁶. These vary by country and amount sent - you’ll see the details for your transfer when you model it in the app. Check both the transfer fee and the exchange rate being used, as extra costs may be rolled into the exchange rates offered. These can push up the price significantly.

You can get all the details, including what information you’ll need from your recipient to process the transfer, on the TNG website. Here are the key facts about the TNG money transfer service, by country.

A cheap and transparent alternative: Wise

Before you send money internationally with TNG money transfer, check out a few alternatives to make sure you’re getting a good deal. With Wise you can send money in dozens of different currencies, and you’ll always get the real mid-market exchange rate when you do. There’s a low, transparent fee to pay per transaction, but this can often work out far cheaper than alternative providers which add a markup or margin to the exchange rates used.

Model your payment on the Wise website to see the fee, the exchange rate and the amount your recipient will get in the end. You might find you get a better deal compared with TNG.

TNG Wallet limit

The limits for your TNG e Wallet will depend on the membership type you choose. Here’s what you need to know⁷.

It’s important to note too that the functionality of your wallet depends on the type. Normal members, for example, will have a reduced range of ways to top up their account and can’t access a full range of the services on offer. To get a higher level of membership you’ll need to provide more verification to TNG, including your Hong Kong identification documents and proof of address.

How to top up your TNG wallet?

Get real time top ups in the following locations⁸:

• 7-Eleven
• Circle K
• Coin Cart
• Coin Dragon
• Credit card
• Using FPS - VIP and SVIP members only
• Using credit cards - VIP and SVIP members only

You can also get next business day top ups in the following ways:

• Internet banking
• JETCO ATM

TNG Wallet Mastercard

As well as your regular wallet, you can get a TNG Mastercard⁴ - a physical card for those times when mobile payments won’t be enough. Cards can be used wherever you see the Mastercard logo, including when you travel. You’ll also be able to manage your card with the TNG app, setting your own limits, controlling the transaction types your card can be used for, and even choosing the countries the card will be available for.

It’s important to note that there are fees associated with this card. Get the full details online - here are the highlights⁹:

• Annual 50 HKD fee
• Cancellation 50 HKD fee
• Foreign currency spend up to 5% fee

The TNG Wallet is a popular way to spend and send money, with a huge slice of the Hong Kong population already signed up. When you’re choosing which services to access, make sure you check out all the costs. While TNG offers some great benefits and convenient services, they’re not always the best value or most flexible out there. Compare the market every time to make sure you get the best deal - and don’t forget to use Wise when you’re sending global remittances, to cut your costs significantly.

Register with Wise for free😎

Source checked on 12-08-2021