Versa is a Digital Cash App to Grow Your Savings

It is regulated by the Securities Commission and offers a variety of investment options, each with a varying degree of risk.

For today’s purposes, we’ll only talk about the options with the lowest risk: Versa Cash and Versa Cash-i.

Both funds are managed by AHAM Capital Asset Management and have a few similarities:

✅ Low-risk, stable returns.

✅ RM10.00 deposit requirement.

✅ Interest paid and compounded daily.

✅ No lock-in, zero deposit/withdrawal fees.

✅ Deposit/withdraw within 1-3 business days.

Versa Cash is NOT shariah compliant but has higher returns (~3.79% pa).

Versa Cash-i* is shariah compliant but has lower returns (~3.45% pa).

*Allows same day withdrawals if the request is submitted before 10.00 am.

How does Versa offer competitive returns with low risk?

According to Versa, your funds pooled into the Affin Hwang Enhanced Deposit Fund (EDF), which AHAM Capital uses to negotiate better FD rates from banks.

A small portion of the funds is used to honor withdrawals.

At first glance, this came off as a tad bit shady for us…

This is because using newer customer deposits to pay for withdrawals is unsustainable, especially during a bank run.

We contacted Versa on Instagram and were impressed with their quick and comprehensive response:

Additional things to note:

• Versa automatically reinvests your profits every month, helping you earn more overtime.

• The minimum withdrawal amount is RM50.00.

How does it compare to TNG GO+?

✅ Daily payout (~3.50% pa).

✅ Shariah compliant.

✅ Deposit/withdraw instantly using DuitNow.

❌ Maximum deposit limit of RM20,000.

My analysis: TNG GO+ offers superb flexibility but there is a maximum deposit limit of RM20,000. Beyond this amount, you won’t be able to deposit more funds.

Explore more: https://thefuturizts.beehiiv.com/p/here-are-8-best-places-to-grow-your-savings-right-now

How about StashAway Simple?

✅ Daily payout (~3.60% pa)

✅ Shariah compliant.

✅ Extremely low deposit/withdraw requirements of RM0.

❌ Withdrawal speed loses out to Versa Cash-i as it takes 3-4 business days.

My analysis: StashAway Simple is comparable to Versa Cash, but the app is quite clunky and not really user friendly. Depositing/withdrawing funds has been inconvenient for me, which is why I chose not to use this app.

Explore more: https://www.stashaway.my/simple

What about KDI save?

✅ Interest paid out daily.

✅ Truly 0 fees, 4% APY is fixed.

❌ Not Shariah compliant.

❌ Requires initial deposit of RM100.

My analysis: KDI Save is quite competitive, and they recently updated their app to include AI analysis as well. I may look to try it out in the near future.

Explore more: https://digitalinvesting.com.my/kdi-save-terms-conditions/

What are the common risks/cons of all these cash apps? ⚠️

❌ The returns may fluctuate from time to time depending market conditions.

❌ Not insured by PIDM, since this is considered an investment.

Our verdict:

While digital banks (ie. GXBank, Rize, AEON Bank) and other cash apps offer decent return and flexibility to withdraw instantly, Versa remains our top choice due to its simple layout and impressive user experience.

It is a great option for investors who prefer simplicity and ease of access.

If you’re interested in trying out Versa, be sure to sign up with our referral code!

You’ll get RM10.00 for your first deposit of RM100 and above – that’s an instant 10% return on your investment!

Download the app from the app store and enter “THEFUTURIZTS”.

If the referral code above doesn’t work, you can use our default code “QMVRYPRT” instead.

DISCLAIMER: This article contains an affiliate code that grants us a tiny commission if you choose to sign up with it. Investing in a money market fund has its own risks and is different from opening an account with a financial institution. You should speak with a financial planner before making any investing decisions. ⚠️

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