Your Account Will Be Suspended if You’re Caught Redeeming RM100 eMadani Credit for Cash, Says MoF

Today’s the day when you can start applying for the RM100 eMadani Credit on different platforms, as long as you’re above 21 and earn less than RM100,000 annually.

If you don’t think the RM100 e-wallet comes in handy for you, that does not mean you can convert the credit into cash. In a statement released by the Ministry of Finance this morning (December 4), the ministry made it clear that they will NOT be responsible for any losses that are caused by peer-to-peer transfers of cash redemptions. 

“This is to avoid credit recipients from becoming the target of scammers, which would directly cause them to lose their credit.”

However, if you insist, the government will not close an eye, and will take action against you if you are found misusing the benefit, such as suspending accounts and removing credit privileges from recipients.

This clearly shows that the use of eMadani credit for ‘peer-to-peer’ transfers or cash redemptions is strictly prohibited.

“The peer-to-peer transfers or cash redemptions go against the intended goals of the program,” MoF said in the statement.

The eMadani initiative was introduced to propel the digital economy forward and to support the use of cashless transactions.

“eMadani credit should only be used for physical purchases using designated e-wallets such as MAE, Setel, ShopeePay, and Touch ‘n Go eWallet, or through QR DuitNow.”

As an attempt to avoid being scammed, you are advised to be cautious of offers on social media promising cash redemption services or unauthorised ‘peer-to-peer’ eMadani credit transfers.

To those of you who have successfully redeemed the credit, have fun with the Christmas shopping, and remember NOT to try to redeem the credit in the form of cash.

Also read: Scammers Try to Dupe M’sian Auntie into Paying Ransom Money For “Kidnapped Daughter”, Get Ignored