Travel plans made easy with eForex by Merchantrade

In search of ways that could make even the preparation of a holiday feel like a vacation, FMT discovers an easier way to get our money changed to foreign currency.

VIDEO INSIDE

PETALING JAYA: For avid travellers, one is always looking around for the right place to get the best foreign currency rates for our ringgit.

Finding it is one thing, but getting there is an altogether different proposition with the traffic jam and parking issues.

So, imagine the simplicity of being able to buy any currency via an app on your smartphone, getting the best possible rate for it, and then collect it at your own convenience.

FMT, in search of ways that could make even the preparation of a holiday feel like a vacation, had stumbled upon Merchantrade Asia's eForex app. In our attempt to find out more about this service, we went straight to the source.

"eForex is an online money exchange solution. It is a flexible solution for our customers where they can exchange money at any time and on any device," said Merchantrade Asia Sdn Bhd's executive vice-president Sarveswaran Raja Gopal.

"The currency purchased can be collected within 180 days and the rate will remain the same as when it was booked. Once the forex transaction is booked via the app, the rate is locked, so it won't be subject to any fluctuation.

"To facilitate the required amount of the foreign currency to be collected, we need customers to tell us when they want to pick it up and at which branch."

There are many other positives to this app, including an alert system that sends out email and app notifications when a foreign currency rate reaches a "high" or "low" level that is pre-set by the user.

Details of all transactions made will also be available on a real-time basis.

At the moment, collection is available over the counter. But in just a few months, customers in the Klang Valley can expect the foreign currency they purchased to be delivered to their doorstep with just a minimal fee imposed.

From FMT's observation, everything about this app is simple. The registration process is quick and easy, and so are the steps you have to go through to make that currency exchange transaction.

This is because the service was launched with the customers' convenience in mind, knowing that Malaysia has a close to 80 percent smartphone penetration, according to Sarveswaran.

"We also see that 75% of our services are accessed through mobile devices and we want to provide customers with what they want.

"They don't want to queue and wait at the counters anymore. They want to be able to do it from their mobile devices."

The views expressed in the contents are those of our users and do not necessarily reflect the views of FMT.

Source: Travel plans made easy with eForex by Merchantrade