It was recently announced that Boost is one of the e-wallets that eligible Malaysians can use to redeem their RM30 e-Tunai Rakyat from the government. With that, we thought itâ€™d be helpful to share a list of ways you can make the most out of this one-time government initiative.
A quick recap of who’s eligible for the e-Tunai Rakyat
The e-Tunai Rakyat Programme is a Ministry of Finance initiative aimed at encouraging e-wallet usage. According to Finance Minister Lim Guan Eng, you need to fulfil the following criteria to be eligible for this one-off:
- Be a Malaysian citizen;
- Aged 18 and above in 2020; and
- Receive an annual income of not more than RM100,000 in tax assessment as of year 2018.
Basically, the RM30 can be redeemed by any college and university student, as well as those who earn a monthly salary of (roughly) below RM8,333.33 – which is most of us.
You need to be verified to redeem your e-Tunai Rakyat
This is required because your eligibility needs to be verified through data from the National Registration Department (JPN). On top of that, this will ensure fair distribution of the e-Tunai Rakyat so that people cannot claim it more than once.
You can get yourself verified by upgrading to become a Premium wallet user on the Boost app, which can be done FOC. To do so, you are required to upload:
- Photos of the front and back of your MyKad; and
- A selfie that shows your face clearly.
All these can be done in a secure manner through the Boost e-wallet app. As Boost is regulated by Bank Negara, their security features are of the highest standards – so you can rest assured that your personal information is protected in the app.
On top of being able to redeem RM30 from the government, you can enjoy additional perks as a Premium wallet user. This includes a higher wallet limit (up to RM1,500) as well as the ability to transfer money from your Boost wallet into your bank account.
There are a few things you can do to make sure you get the most out of all your Boost transactions
1. Register for the Premium wallet and enjoy RM5 cashback
Before you redeem the e-Tunai or use your Boost wallet for any purchases, make sure you upgrade it to a Premium wallet. This is because Boost is currently giving a one-time RM5 cashback to Premium wallet users as long as they make a minimum transaction of RM10.
Transactions include topping up your Boost wallet (through the “Add Money” function), purchasing anything within the Boost app, as well as using the scan-and-pay function at any online and physical stores that accept Boost as a payment method.
So what we plan to do is to first upgrade our wallets, then top up RM10 immediately to get the RM5 cashback. We’ll then wait for 15 January to redeem the RM30 e-Tunai Rakyat through Boost, which will put our total wallet sum at RM45.
Top up RM10 and get RM35 extra – that’s a pretty good deal.
2. Sign up for all the free Boost Missions
Because who doesn’t like double cashback?
Firstly, all Boost users earn Coins for every ringgit you spend via Boost. The amount of Coins you earn depends on your tier – the higher your tier, the more coins you get.
You’ll also receive Shake Rewards for every transaction you perform on Boost. These rewards include either more Coins, cashback, or even prizes like the latest iPhones or free holidays (rumour has it that the reward you get depends on how vigorous you shake your phone *wink*).
To earn more Coins from our transactions, savvy Boost users (like us *ahem*) would use Boost Missions to get more coins or cashback. Boost Coins can then be used to redeem cash rewards, vouchers, as well as gifts like smartphones and other gadgets.
This way, you get to put your additional RM35 to good use – aka ‘generating’ money back for yourself!
3. Link Boost to your Fave account
Why stop at double cashback when you can enjoy triple cashback?
By making Boost your primary payment method on Fave, you get earn both Boost Coins and partner cashback on Fave.
While you can use your Boost Coins to redeem cash rewards; you can also use partner cashbacks on Fave to subsidise your other Fave purchases.
Now you can start earning rewards and cashback for all your Boost transactions!
But first, we suggest you do the “adult” thing of putting that e-Tunai Rakyat to good use – settling your bills. Here are some of the services you can pay via the app:
And since you’ve signed up for a Mission beforehand, you’ll be awarded with cashback and Coins for every ringgit paid.
If you’re in the mood for some shopping after that, the tip is to do it through Boost’s CashUp feature.
CashUp allows you to get cashback from more brands like Watsons, Malaysia Airlines, and Photobook – on top of the Coins you get from Shake Rewards. Depending on the merchants, you’ll be able to get up to 11.2% in cashback out of your total spend, which will be made available in your Boost wallet.
The e-Tunai Rakyat will be ready for redemption on 15 January 2020
We highly recommend that you get yourself verified before that so that you can redeem the RM30 as soon as it’s available.
It’s also important to note that you can only redeem and use the RM30 up till 14 March 2020. Any balance not used by then will expire and deducted from your wallet. So remember to utilise it before the expiry date!
Think of it this way: The e-Tunai Rakyat is the rakyat’s money – our money. Make the most out of it and use it wisely.
We would like to thank Boost, Malaysia’s lifestyle homegrown e-wallet app, for sharing some of the tips with us. Click here for a more detailed guide on how to claim your RM30 e-Tunai Rakyat.
I have an unhealthy obsession with chocolate, gummy candy, and "Confucius says" jokes.