Ringgits improves against British pound


KUALA LUMPUR: Imagine getting a call from your loved ones overseas. They need some money urgently. What do you do?

The traditional method many are accustomed to involves going to the bank, waiting in line, filling out a form, and having the transfer processed.

Now picture the convenience of being able to just whip out your smartphone, and immediately transfer the money overseas.

This is the service provided by Merchantrade Asia’s e-Remit app.

FMT, having tried it, found that money transfers can be a quick process that takes only a few minutes.

“Right now our customers comprise Malaysians who need to send money overseas. We also have a large number of expatriates who are using the app regularly.

“They can remit money to any part of the world as this service is available in 200 countries,” said Merchantrade’s executive vice-president Sarveswaran Raja Gopal.

There are plenty of positives to this app, but one that stood out was the fact that the recipients do not need to have a bank account overseas. They can opt to pick up cash at Merchantrade Asia’s partnering banks instead.

“Our fees are much cheaper, ranging from only RM10 to RM15 per remittance. And with our favourable foreign exchange rates, the customer benefits by paying less for the transaction than the alternatives modes of remittance.

“Our delivery time is also much faster. The recipient can collect the money within 10 minutes after you have sent it via the app,” Sarveswaran explained.

You don’t have to take our word for it, but the app’s success was confirmed through the bagging of two MyClear FPX awards for the year of 2012 and 2013.