NEW: Desperate Malaysians Pay RM10 ‘Redemption Fee’ To Convert eMADANI Credit To Cash Now

Reports indicate that Malaysians are allegedly paying up to RM10 to convert their RM100 eMADANI credits into cash through peer-to-peer services on social media platforms like Facebook, X (formerly Twitter), WhatsApp, and Telegram. Despite warnings from netizens and MOF, service providers claim legitimacy, asserting they are business owners with physical stores.

Desperate Malaysians

Some charge a ‘redemption fee’ of RM10, justifying it as similar to transaction fees on Touch ‘n Go (TNG) eWallet. Facebook posts and QR code scanning are used for transactions, with service fees ranging from RM2 to RM5, raising concerns about the misuse of eMADANI credits.