WELCOME TO GET4X
Welcome to Get4x Support - We're here to help.
Getting Started with Get4x
If you are using the web application, choose your travel destination, which will be the place where you wish to search for money changers and cash exchange rates. For example, if you wish to search for rates in Hong Kong, you should click on "Hong Kong" as my destination. If you are already located in Hong Kong, or any of the cities where our service is available while using the app, you will automatically be redirected to the relevant destination page.
Once you arrive on the destination page, you will see a currency converter on the city page. This currency converter differs from other currency converters as it displays both the mid-market rate, as well as the best money changer rate that is listed on Get4x. The currency converter will show you the converted amount based on the mid-market rate, if you enter the amount in the "You Have" or "You Get" fields. In reality, money changers would not use the mid-market rate, as the rates they set would be based on a variety of factors including the price at which they had bought their stock of currencies. This is why every money changer offers a different exchange rate (hence the need for Get4x!).
If you choose to exchange an exotic currency for local currency, you may get a message that there are no money changer rates for your selection. You will still be able to see the converted amount based on mid-market rates.
Once you are satisfied with your amount and currency selection, click on "Find Out Where" to see a list of money changers and their cash exchange rates.
After clicking Find Out Where, you will see a map indicating the money changer outlets. You can click on Edit Search to change your search parameters. Filter through the results by limiting the search to certain neighbourhoods. You can also search by entering the Money Changer store name. Click on Search Now to review the new filtered list of results. You can choose between a list or grid view.
In the event that you are not logged into your account, you will see a View Detail option on the listing of money changers, but you will not be able to see live and indicative rates. After you click on View Detail, you can view specific information about the selected money changer such as store image, address and opening hours. However, you will be prompted to sign in to your Get4x account to view live rates, edit the amount and currency type in You Have and You Want, add to favorites as well as see the contact number of the money changer.
If you are logged into your account, you will be able to see the live or indicative rates of the different money changers. Click on View Detail and it will take you to the page with more details on your selected money changer, such as a picture of their store, their address, opening hours and contact information. You can edit the amount and type of currency through the currency converter on the top right of the screen. You can also choose to add money changers to a favorite list for easy access in the future, or click to call the money changer directly.
On the Get4x mobile app, the app will automatically default to the city in which you are physically located when using the app. To change the city, tap on the address bar at the top of the screen or type in your location.
Choose your currency type and enter the amount you want to search for. Click on "Go" and you will see a list of money changers and their cash exchange rates in the city.
Above the "I Have" and "I Want" fields is a line that shows you the current mid-market rate being used for the currency conversion of the currencies you have selected. You can choose between the map and list views. You can also switch between the All Outlets screen that will display all money changer stores offering the exchange rates for currencies you specified on the app and the Top 5 screen, which will show you the stores offering the best rates for the currencies you selected.
Clicking on any of the rates on the screen, will show you a snapshot of the money changer outlet.
To see more details about the money changer, such as contact info, register or log in to the app.
Once you have logged into the app, you will be able to see full details about the money changer, as well as click on the green Call Now button to contact the money changer on the phone to confirm their rates.
The popular currencies table on the right is segmented into two categories. Let's take Hong Kong for example. The Inbound list consists of the currencies that are most searched for in Hong Kong by users outside of Hong Kong and is ranked accordingly by highest demand. Let your cursor hover over a currency and you will be able to see the percentage of searches for that currency.
The Outbound list consists of a list of currencies that are most requested for in Hong Kong by searches originating from within Hong Kong as well
While you can still view certain details without logging in, registering for Get4x unlocks the full potential of the platform for you. You'll gain access to all the information we have on money changers in the various cities such as the rates, location, contact information and more so you can make an informed decision on where to exchange your money.
In cases where money changers have not updated their rates, Get4x uses a proprietary algorithm to calculate an indicative exchange rate offered by money changers based on a number of factors, which include historical data and real-time market data.
The margin of error when it comes to the rates is less than 0.15% and the number in brackets beside each indicative rate represents the confidence interval. Put plainly, it simply means that the smaller the numbers in the brackets, the more confident we are in its accuracy.
In cases where the rates on our platform are indicative, we state that clearly as well. Above all, we strongly encourage you to call money changers directly to confirm the rates before heading down to the money changer outlet to complete a transaction. Learn more about indicative rates in this blog post.
You can use Get4x to search for money changers and their offered exchange rates in Bali, Bangkok, Dubai, Hong Kong, Jakarta, Johor, Kuala Lumpur, Macau, Mumbai, Pattaya, Phuket, Singapore, Sydney and this list is constantly expanding.
In fact, if you would like to see us in your city sooner rather than later, let us know through our feedback form!
None. Get4x is 100% free for users - there are no hidden costs from downloading and using the mobile or desktop application.
Get4x currently displays the exchange rates of all global currencies on the application. The availability of these currencies however depends on what the money changers have in stock, which in turn depends on the demand that money changers receive for certain types of currency. To view what the top 10 requested currencies are in different cities, visit the individual city pages. It is also a good idea to contact the money changer beforehand if you intend to exchange a large sum of money, to make sure that your preferred outlet has that amount of currency in stock.
Managing Your Get4x Account
Once you have opened the Get4x mobile app, click on "My account" on the menu to the left of the mobile app. The sign up link is located just above the blue "Sign up with Facebook" button.
On the web, the "Sign Up" button is on the upper right corner of the page.
Fill in your email and password (minimum 8 characters) on the sign up page. You can also sign up with your Facebook or Google account.
Creating your Get4x account will allow you to access more details about the money changers so you can contact them directly.
Once you have opened the Get4x mobile app, click on "My account" on the menu to the left of the mobile app.
On the web, the "Sign In" button is in red to the top-right of your screen.
Enter your email address and password in the fields as indicated to sign in.
You can also sign in with your Facebook and Google account.
On the Sign In page, tap on "Forgot your password?" on the app or "Forgot password" on the web. This will take you to a page where you can enter your email. A link to reset your password will be emailed to you.
On the mobile app, you can see your email under the Get4x logo that is on the menu to the left of the app once you have logged in. Tap on "edit" to update your personal information such as name, email, password and mobile number.
On the Web, click on My Account to the top right of your screen. Then enter " Edit Account" to update your personal information.
No, you cannot have multiple Get4x accounts as each account is associated with a phone number and an email address.
We are sorry to see you go, but if you would like to close your Get4x account, send a request to us through the feedback form.
Troubleshooting Get4x Issues
Money changers are typically licensed by local regulatory authorities in different countries. For example, money changers in Hong Kong come under the purview of the Hong Kong Customs and Excise Department and in Malaysia, it is Bank Negara Malaysia. Get4x only lists licensed money changers across local cities, and we do our utmost best to verify that all money changers on the platform have the proper licenses.
While we try our best to ensure that all information on Get4x is accurate, there may be instances when information on the money changer outlets requires an update. If so, do feel free to contact us through our feedback form to suggest a change.
At Get4x, we are all about growing and nurturing a community of both travellers and money changers that can mutually benefit from our platform. Just as you would inform your friends if you cancelled on them, we urge you to inform the money changer you had booked your currency from of your change of plans, so he can release the amount of currency that has been set aside for you.
If a money changer does not honour a rate after you have made a currency booking, please email us at email@example.com, so we can investigate and take the appropriate action against the money changer as necessary.
First and foremost, you should always contact the money changer to confirm their rates before heading down to the individual outlets. While we do our utmost best to ensure that the indicative rates are as accurate as possible, there may be some instances when an inaccurate rate greatly exceeds the normal 0.15% margin of error for our indicative rates. If so, kindly drop us a note at firstname.lastname@example.org, so we can investigate the discrepancy.
When the above message appears, you have most likely selected two foreign currencies rather than a single local and a single foreign currency to compare a rate. If you are in Singapore for example, you will have to exchange the SGD for another currency to get the Buy and Sell rates as listed on the platform. If you want to exchange the Malaysian ringgit for Thai baht in Singapore, the money changer will actually first convert your ringgit to SGD based on his listed Buy rate and then conduct another transaction converting your SG dollars into US dollars based on his Sell rate. In effect, you'll be paying double the cost of currency conversion, and the money changer will earn double on profit margins as well. Always remember that when you exchange money with a money changer, the Buy and Sell rates they set are based on their local currency, so exchanging two foreign currencies there will cost you double in a sense. If you are in Singapore for example, you should only exchange currencies with or to SGD to avoid this "double charge".
The exchange rates that we list on the platform are for currencies that money changers have in stock. Money changers get their supply of foreign currencies based on the daily demand that they receive for various foreign currencies, hence they may not have any stock of a currency that is rarely requested for.
The availability of currencies at money exchange outlets depends on the customer demand and supply of currency that the money changer at the retail store has. On days where a store has more walk-in traffic, and a customer has exchanged a large sum of money for that particular currency, the money changer may run out of stock for that requested currency. As such, it is always good to give your selected money changer a call to check on the availability of the currency you want to get. In the event that you discover a money changer no longer trades in a particular type of currency, do feel free to reach out to us at email@example.com so we can update the information accordingly.
There are generally two different types of rates on Get4x: (i) Live Rates that are provided directly by the money changers, and (ii) Indicative Rates that are provided by the Get4x platform, when the money changer has failed to update their rates for some time. Indicative rates are derived from an algorithm that takes into account current mid-market rates and historical rates set by the money changer and generally have a 0.15% margin of error. We use indicative rates on the Get4x platform rather than live rates when a money changer has not actively updated their rates, as the indicative rates take into account the current and constantly changing mid-market rates. This provides a more accurate rate than one based on outdated data. If you do receive a better rate at the money changers than was indicated on Get4x, then congratulations - you have found yourself a good deal! We are happy to update our rates accordingly so do drop us a note at firstname.lastname@example.org, and our team will be sure to review and update the rates.
Have something to say to us? Let us know by sending your comments to email@example.com.
Discovering Interesting Facts About Get4x
Get4x is a location-based currency exchange rate aggregator that provides a comparison of cash exchange rates from licensed money changers within cities. It is the fastest and easiest way to get information on the best rates and the nearest money changer outlets in different cities to exchange currencies.
Get4x is easy for travellers to access as it is available on the web and on mobile, and serves as a secure way to exchange money as only licensed money changers are listed on the platform. Get4x is also convenient for travellers who want to pre-order currencies for pick-up at a later time.
Whether in Bali, Bangkok, Dubai, Hong Kong, Jakarta, Johor, Kuala Lumpur, Macau, Mumbai, Pattaya, Phuket, Singapore or Sydney, Get4x helps travellers enjoy real rates, real savings and real convenience.
Get4x lists exchange rates offered directly by money changers rather than mid-market rates which are only used by financial institutions. It provides transparency into a market that is extremely opaque when it comes to prices. Local licensed money changers tend to offer the best exchange rates as compared to banks, airports, hotels, ATMs or paying by card, but the exchange rates they offer change constantly due to the demand and supply of currencies, as well as the mid-market rates. While it is easy to search for free currency conversion rates and platforms online, many of these platforms do not reflect the actual cash exchange rates being offered by money changers. Very few money changers list their live cash prices on their websites, so Get4x has taken the work out of comparing prices on physical rate boards at different locations, by aggregating all the rates offered by money changers in different cities on our app.
No, Get4x is not a money changer, so if you do call our office or drop us an email asking to confirm money changer rates, we will unfortunately not be able to help you! In essence, Get4x is an information directory for travellers that provides information on money changer rates, locations and services. You can think of Get4x as a platform that helps connect the two communities, travellers and money changers, to the mutual benefit of both. To confirm money changer rates, please contact each individual money changer through the contact information that we have provided in the outlet details.
Forex is a term that is used to describe the foreign exchange market, which is the over the counter trade that takes place all over the world when exchanging foreign currencies. Buying and selling currencies at a money changer is a process that forms a part of this foreign exchange market. The act of exchanging currencies can thus be seen as getting forex, so Get4x is really a pun on the phrase "get forex" in English. We think it's an apt name for the app since we're all about helping people to find a more cost efficient way of getting foreign currencies!
Ever find yourself being confounded by all the different exchange rates being offered by local money changers in different cities? You are not alone. It’s hard to tell when money changers are quoting you a good, decent or bad rate, and even the Buy and Sell listings at the money changers can sometimes be confusing with the currencies being quoted in reverse order and different units. However, there’s no question that when it comes to exchanging a large sum of money, money changers are the most economical way to get the currency of your choice.
The experience of manually checking physical rate boards at different money changers unfortunately can be extremely frustrating and exhausting, which leaves one wondering where a price comparison platform for money changers is when you need one! It was to solve this common traveller’s problem that we created Get4x, an app that aggregates exchange rates from different money changers in 2012.
Get4x is developed by 4xLabs, a fintech company that is headquartered in Singapore with regional offices across Asia. The company develops cloud-based services addressing all the needs of players in the often overlooked cash exchange market be they travellers or money changers. With Get4x, travellers can search for licensed money changers offering the best rates nearby for greater transparency, convenience, and security. For money changers, our one-stop suite of services, Biz4x, improves topline, by helping them acquire new business, optimize their price setting, and scale their business; as well as bottom line, by improving efficiency, managing cost of stock, and facilitating compliance risk management. Money changers can also list their rates on Get4x to access a new segment of online customers.
Claiming Your Money Changer Retail Outlet
Write in to us at firstname.lastname@example.org, and we will set up an account for you to publish your live cash exchange rates, upload images of your store and edit other details about your currency exchange business.
Publishing your rates on Get4x allows customers to not only search for your business online, but contact you directly to pre-order currencies for later pick-up. This means that you have an additional source of revenue aside from walk-in traffic, and you’ve locked in a guaranteed customer, before they even physically arrive at your business outlet.
Once you have claimed your business on Get4x, you can publish your live cash exchange rates on the platform so that your business will be profiled prominently on the website. This means that you will receive more enquiries and bookings from people who are interested to exchange currency at your business outlet, which translates into more revenue for you. You can also showcase your other products and services; for example if you sell mobile top-up cards or run a mini convenience store at the same location - anything that you feel will attract more customers to your money changer outlet!
Learning More About the FX Industry
A money changer can be a person or organisation whose business is the exchanging of one currency ,for that of another. Generally speaking, when we talk about money changers, we are referring to traditional money changers, and people who are not associated with banks and financial institutions (aside from their relationship as buyer and supplier).
This form of currency exchange service is especially useful for people who are traveling abroad, as they are able to save more money by using the local currency, instead of incurring additional and hidden charges from credit cards, banks and other services. However do note that not all the currencies may be available for exchange, as money changers usually stock up their currencies based on the demand they receive.
A money changer generates profit from the difference between the Buy and Sell rates offered. This difference is often termed as the currency spread.
The Sell rate refers to the rate at which money changers sell foreign currency in exchange for local currency. For example if you were traveling to Malaysia, you would exchange your currency for the Malaysian Ringgit at the sell rate. Some money changer outlets may refer to the Sell rate as Holiday money rate or tourist rate. Think of it this way, the money changer is selling you the currency that you want.
The Buy rate, on the other hand,refers to the rate at which money changers 'buy' foreign currency back from travellers to exchange into local currency. For example, if you were returning from Malaysia, money changers would exchange your Malaysian Ringgit back into the designated currency (at the Buy rate).
Like any other businesses, money changers buy low, and sell high to earn their profits. So if a money changer buys a currency at the rate of 3.00, and sells it at the rate of 3.20, he makes a profit of 0.20 (of the sold currency). This translates to greater sums of profit earned, when a money changer engages in more transactions, and exchanges more money.
Of course, this may not necessarily be the case especially when the money changer lacks the right tools and software to monitor the foreign exchange rates - the profit margins he earns are determined by the prices he sets for the Buy and Sell rate and failure in keeping track of live FX rates may result in huge losses.
The quoted prices of the currency exchange (Buy and Sell rate) are based on the currency's exchange rate. This exchange rate is determined by numerous factors, such as inflation rates, interest rates, current account deficits,term of trades, public debts, speculations and, political stability and economic performance. However do note that the online exchange rates or the spot rate (otherwise known as 'interbank' rates, which are usually shown in newspapers or the media) may differ from the money changer"s exchange rates, as the money changers may have to set their prices above the exchange rates to avoid making losses.
In setting their prices, money changers have to keep up-to-date and observe closely the changes in the foreign exchange currencies. The recent volatility of the exchange rate market means that money changers have to constantly update their pricings, while thriving on paper-thin profit margins, and money changers today rely on various software, in order to stay informed of the latest exchange rates.
Yet aside from exchange rates, the costs of obtaining their currency supplies is a determining factor in the pricing, and money changers may not lower their prices, despite the falling exchange rates, as they do not want to make losses.
The exchange rate is the value of one currency for the purpose of conversion to another. The exchange rates reflected in the money changer display are usually in 2 to 4 decimal places, and these exchange rates can be floating, fixed or managed. The floating exchange rates are determined by market force, which are the norm for most major nations, while some nations prefer to fix or peg their domestic currencies to a widely accepted currency like the US dollar. Whereas, managed exchange rate (otherwise known as dirty float) involves the government or central bank interventions. While there is a clear relationship between exchange rates and currency exchange rates of money changers, most money changers may not immediately set their prices based on the exchange rates, due to the impending uncertainties, as well as the rates given by their suppliers.
Money changers may source their supply from a wholesaler supplier or a bank. Wholesalers usually provide more competitive rates, and money changers may procure their currency supply from wholesalers within the country, or across the country, depending on their preferences. If the money changer wishes to minimise the associated risks of buying from the wholesaler, he may approach the banks or other financial institutions that offer a more secure option, in exchange for a less favourable rate.
Under the jurisdiction of different regions, Money changers are required to obtain a license based on the requirements set by their authority. For example, licensed money changers in Singapore have to adhere to the requirements set by the Monetary Authority of Singapore (MAS) and fulfill the prerequisites before being permitted to operate their services. This is part of an effort to not only protect the customers, but to curb money laundering and terrorist funding, as money changers have to strictly adhere to the Anti- Money Laundering (AML) and Counter-Terrorist Funding (CTF) regulations or risk losing their license. For more information, you may visit the MAS Website, or you may refer to the respective authority for information about licensing requirements in other country.
Money changers have to renew their license every 6 months, or every year, depending on the regulations set by their authorities. In Singapore, the money changers have to renew their license annually, as their license will expire on the 31st December of each year, together with a renewal fee of $100.
As part of the "know-your-customers" guidelines, money changers may require you to show a proof of identification to protect themselves and prevent identity theft, financial fraud, money laundering and terrorist financing. Different jurisdictions have their own sensitivities regarding the amount which triggers record keeping for AML/CTF purposes. For instance, it is mandatory for Money Changers in Singapore to record amounts of SGD$5,000 or above,with the verification of Identity Card or Passport with full name, address, date of birth and nationality, when proceeding with the transactions.
While in India, exchanging an amount of R$50,000 would require a proof of identification. Do visit your relevant authority's website to find out about the type of identification proof needed before heading to the money exchanger outlet, if you are exchanging a large sum of cash.
You may refer to the below table for more details.
|No.||Jurisdiction||Local Currency (As of 04 July 2016)||USD or Equivalent (As of 04 July 2016)||Documents Needed||Effective Date|
|1||Indonesia||~ IDR 327,750,112||$25,000 (Previous: $100,000)||Document supporting underlying transaction such as health treatment and school tuition fees||28 Aug 2015|
|2||Thailand||~ THB 17,5271||$5,000||Passport or other travel documents||11 Aug 2004|
|3||Malaysia||MYR$3,000||~ USD$752||Particulars of customers and duplicate copy of identification documents||26 Aug 2011|
|4||India||R$50,000||~USD$742||Identity Proof||1 July 2013|
|5||Singapore||SGD$5,000||~ USD$3,721||Identity Card or Passport with full name, address, date of birth and nationality||1 Jan 2006|
Financial transaction document
Account and Signatory Information (identity)
|12 Dec 2008|
|7||Hong Kong||HKD$8,000||~ USD$1,031||Identity Card and record of transaction||20 Dec 2006|
|8||New Zealand||NZD$10,000||~ USD$7,180||Identity and source of funds||30 Jun 2013|
Typically, a rate board would feature the Buy and Sell Column, alongside the currency shown. Let's assume you are traveling to UK soon, and you wish to exchange your money in Hong Kong for the UK Sterling Pound (GBP).
As seen above, the "WE BUY AT" Column features a figure of 10.980, while the "WE SELL AT" Column shows 11.080.
In this case, if you are changing your HKD currency for the GBP currency, you are 'buying' the GBP currency with the HKD currency. Since that makes you the buyer, the money changer is the seller, and you should be looking at the rates under the "We Sell" Column. So if you exchange HKD$1000, you will receive approximately £90.25 (1000/11.080).
Alternatively if you are returning from your trip from UK to Hong Kong, and you want to exchange your leftover GBP currency for the local HKD currency. you should be looking under the BUY column since you are 'selling' your GBP for HKD currency. In this case, since you have £10 left, you would be getting HKD$109.80 (10 x 10.980).
Depending on the region you are in, money changers might not necessarily be termed as such. Refer to the table below for the list of different terms used in different countries.
|Countries/ Regions||Terms for money changer|
|Some parts of Europe, Canada||Bureau de change, Bureaux de change (plural)|
|India||Money exchange dealer/cash dealer|
|South America (Mexico, Chile, Uruguay), Spanish-speaking countries||Casa de Cambio|
If you are looking to get more value for your currency exchange, a money exchange outlet situated downtown is almost always better than those in the airport. Money changers in the airport offer far less favourable exchange rates, and customers may have to pay numerous fees (such as a commission fee) when using their services. You should exchange your money at an airport only if you are in a hurry, or if you simply do not mind the additional costs. Other similar currency exchange services which offer less favourable rates can be the hotel money changers, ATMs or using a prepaid debit card.
While licensed money changers in the city can provide far better rates than exchanging cash at banks, airports or hotels, these cash exchange rates can differ greatly between money changers. Money changers set their rates according to a number of factors which include the mid-market rate, current demand for a particular currency and the amount of currency they have in stock, and this means that the exchange rates they offer tend to fluctuate. Many of them do not display their rates online either and so the only way to get actual rates is to travel from outlet to outlet comparing physical rate boards. To compound the problem, you might come across illegal money changers who might give you counterfeit bills that could potentially land you in legal trouble. When confronted with all these problems, making a smart choice when it comes to getting the best exchange rates can seem rather impossible, but the solution may just be an app away with Get4x.
Besides exchanging your money, money changers may provide other services such as remittance and money transfer services for people who want to send their money overseas. Besides the cost, transferring your money through a money changer is more convenient as compared to banks, as some banks may require you to set up an account with them in order to have access to the service, or they may require more details from you. Not to mention, bank wire transfers may take a longer time for the money to be transferred to another party, taking up to 3-5 working days as compared to just a few hours in money changers.
In light of the increasing competitiveness in the money changing industry, some money changers even offer delivery services to step up their value proposition, and you may purchase the currency online. This allows you to get the best rates from the money changers, regardless of the distance, and such services are more prevalent in larger countries, where travelling can take few hours.
You may even find some money changers selling maps, magazines, drinks, prepaid cards, wifi cards and other miscellaneous items, to cater to visitors and tourists travelling to their country.
Conduct a simple search online for the best currency conversion rates, and what you'll find most of the time are mid-market rates. These rates however, do not reflect the actual exchange rates you get when you pay for products and services at your travel destination whether you use credit or cash. If you choose to go with cash, you have a number of options from getting the currency through an ATM at your destination to exchanging cash with banks and money changers, but whatever your choice, all options will come with a hidden transactional cost. This hidden transactional cost can vary from 0.2% to 12% for commonly traded currencies. The difference could even be much higher ranging from 2% to more than 20% for exotic currencies, and this cost applies whether you exchange your money before you travel, or when you arrive at your destination. In short, choosing how, where and at what rate you change your money, is crucial for cost savings.