I always have one eye on the currency exchange rates. It’s become a bit of a habit for me, since I left Malaysia to study in New Zealand when I was just 15 years old. I spent over 4 years in Australia for my university and spent a lot of time traveling around the world after that. I’ve been to multiple destinations in Europe (Germany, France, London, Amsterdam and Georgia) as well as Sri Lanka, Taiwan and China and Hong Kong.
I have travelled to Korea on a business trip and made my way to Philippines, Thailand and Indonesia on work related trips too. I’m both a leisure traveler and a business traveler so I can see things from both sides. It’s important to be able to check the money exchange rates quickly, especially if a trip is short-notice. I’ve known about the eforex.com.my website but now they have a mobile app!
I went to download the eForex app to review it and I’ve kept it since it’s so useful! You have to register to use all the features and it can be a bit of a hassle. However, it’s an important step since you need to provide your personal details anyway when you exchange money in person. This way, you only have to do it once!
I felt better with that knowledge and entered all my details, which allowed me to create my own profile.
The eForex app basically allows you to check live rates and buy foreign currency anytime anywhere from the app. They do it well with a minimalistic and easy to understand interface. You’re shown the few major options where you can instantly purchase currency or check your favorite currency rates live.
I really like the one-click instant update feature. You just need to click on “Today’s Rate” on the main landing screen in order to see all the major world currencies on one page from USD, Euro, GBP, etc. These are today’s live exchange rates and I’ve been clicking on it several times a day to monitor USD and the Japanese Yen since I will be travelling again in a couple of months.
You can also set your favorite currencies here. Just click on the “…” options on the right and “Add to Favorite”. This will remember the currencies you exchange the most and put it in the Favorites List.
There is also a wonderful feature where you can just input a single number in Malaysian Ringgit (MYR) and it shows you the equivalent rates today on ALL your favorite currencies. This allows me to type in 10000 and instantly see how much RM 10,000 would get me in JPY, SGD (my sister and dad lives there), NZD, USD and Euro. Very nifty!
There is also a sidebar where you can see where the nearest Pick-up Points are. You can browse through the list or enter in your current location to see if they have a branch nearby. eForex app is made by Merchantrade so they have a lot of outlets.
You can also see exactly where the outlet is (and use it to open Google Maps) or click to call the place directly. This allows you to easily purchase foreign currency and go and pick it up at a location. You just need to bring along your MyKad/IC (for Malaysians) or your passport (for non-Malaysians) along with your Transaction Confirmation Slip or eForex Pin Number (which is shown in the eForex app).
The online payment system is secure and you don’t need to carry huge amounts of cash to money changers anymore since you’ve already paid via the app. You can even purchase now and collect the foreign currency at today’s rate up to 6 months down the road – a great feature that is usually reserved for large companies! This is the first app in Malaysia which allows you to buy currency directly from the app.
There are also other awesome features like Rate Alerts (so you can know when your favorite currency hits a certain point) and Travel Reminder (which prompts you to buy currency when you’re about to fly off). It’s a simple app to navigate, yet with lots of important features which makes eForex an awesome app for frequent flyers, whether you’re traveling for business or pleasure.
Check it out by typing eForex in Google Play or App Store and you can download the free app and see how it works out for you. I’m quite fond of it, instead of having to type in “100 USD to MYR” in Google (which is a shortcut to see today’s rate, albeit from a US perspective so it’s not accurate) I can just click on the app to see a host of my favorite currencies rates updated live. I can now get the current confirmed exchange rate instead of an estimate to see if it’s a good day to exchange money. Lovely!