Getting Started - Part 5
Update : 20th July (Latest information)
Update : 15th December
Just thought I'd do a little write up on some of the local exchangers. Well, this section is actually meant for Singaporeans who are looking for a quick and safe way to exchange for e-gold. I've personally tried most of them, while the others come with a solid reputation.
The exchange rates given by these exchangers/companies are pretty competitive, so do scout around for the best rates. The service provided is usually prompt and polite. And probably most important for Singaporeans is that it is easy to make a purchase or out-exchange excess e-gold via internet banking. The convenience and the ability to stay anonymous is a major factor why most Singaporeans use local exchangers over their more recognised international counter-parts.
As a note of precaution, if you're exchanging large amounts of gold, it would be prudent to do so in batches of smaller amounts. Don't do everything at once. Always better to be safe than be sorry, even if the services mentioned come with glowing reputations.
Entelnova Global Service
This one's been around for eons and has a reputation solid as a rock. You can read about the company here. I love the fact they are a registered company with a real office address and a real phone number you can dial in.
I've personally not tried their service yet, but judging from the glowing testimonials, you probably can't go wrong with it.
SnapGold
SnapGold has been around since the beginning of this year. If you're making a purchase or a sale, it would be wise to do so when the operators are online, between 9pm -12am daily. The transactions are almost immediate in such instances.
If you can't get an operator online, you can still place an order and wait for the transaction to go thru. The wait shouldn't be more than 24hrs.
WynGold
I've been nothing but impressed with the couple of ladies running the show here. You place an order, and the transaction goes thru smoothly, usually within the hour, at ANYTIME of the day! They really live up to their motto of being there 24/7.
I tested out the system at 5am in the morning and received my e-gold by 6am. It probably should have been much quicker, but I had trouble on my side with the phone banking system. You can also speak to an operator via MSN, but judging from the service I received, the speed of the transaction and the time of the transaction, you really shouldn't need to use the live contact.
Bank2Gold
Another good service out there. It works almost exactly like SnapGold. If you get the live operator, the exchanges are instantaneous.
The operator is polite, and you shouldn't lose your way here. I certainly didn't.
Goldert
New kid on the block as far as Singaporean exchanges go. Well, they are not actually really that new. It's run by an old forumer, Apple. So far they do exchanges for Singaporean, Malaysians as well as interested parties from China.
The rates here are probably one of the best all around. Since their appearance, the other exchanges have been forced (whether by choice or competition) to reduce rates. Competition is always good for people like myself who constantly need e-gold.
However, the site doesn't have any chat options. While I doubt the exchanges would take too long, it sure would be more consumer friendly to have a live chat function that all the above exchangers have.
JR Exchange
Update : The site is back up. The rates have not changed since I've been introduced to this site. I'm frankly leery of it.
Another new kid on the block. The rates look good, but the plans look confusing at first glance. Well, to be honest I only took one glance at this one. The only reason why I put this one up was because someone mailed me about a successful exchange here.
A couple of things here that put me off. Firstly, there is live chat but I've never been able to get to anyone online. Secondly, popups, which don't think I need to elaborate more on it. Last but not least, needing to sign up before the real action starts.
While there are the negatives, the website does look pretty well designed and so far feedback has been positive (albeit only one so far). Let's hope there are improvements made in the near future. With their low rates, I might just do couple of exchanges here, when the time is right.
SgExchanger
New one. Worth a look if you're looking to buy or sell some e-gold. There's live chat via YIM or MSN. There's also a wide bank option.
The possible negative is they maybe using paypal.
ECurrenz
This one comes rather well recommended. The rates seems like one of the best in town. There's live chat via MSN.
The only downside is see is that while it's well supported with a bevy of local banks, the significant one missing is OCBC.
WARNING
Stay far far away from this company.
The Global Exchange
I doubt the company is in operation anymore, but no sense risking your money here when there are more trustable options. In any case if you're interested, you can read for yourself why this one is in the dumps.
Update : 15th December
Just thought I'd do a little write up on some of the local exchangers. Well, this section is actually meant for Singaporeans who are looking for a quick and safe way to exchange for e-gold. I've personally tried most of them, while the others come with a solid reputation.
The exchange rates given by these exchangers/companies are pretty competitive, so do scout around for the best rates. The service provided is usually prompt and polite. And probably most important for Singaporeans is that it is easy to make a purchase or out-exchange excess e-gold via internet banking. The convenience and the ability to stay anonymous is a major factor why most Singaporeans use local exchangers over their more recognised international counter-parts.
As a note of precaution, if you're exchanging large amounts of gold, it would be prudent to do so in batches of smaller amounts. Don't do everything at once. Always better to be safe than be sorry, even if the services mentioned come with glowing reputations.
Entelnova Global Service
This one's been around for eons and has a reputation solid as a rock. You can read about the company here. I love the fact they are a registered company with a real office address and a real phone number you can dial in.
I've personally not tried their service yet, but judging from the glowing testimonials, you probably can't go wrong with it.
SnapGold
SnapGold has been around since the beginning of this year. If you're making a purchase or a sale, it would be wise to do so when the operators are online, between 9pm -12am daily. The transactions are almost immediate in such instances.
If you can't get an operator online, you can still place an order and wait for the transaction to go thru. The wait shouldn't be more than 24hrs.
WynGold
I've been nothing but impressed with the couple of ladies running the show here. You place an order, and the transaction goes thru smoothly, usually within the hour, at ANYTIME of the day! They really live up to their motto of being there 24/7.
I tested out the system at 5am in the morning and received my e-gold by 6am. It probably should have been much quicker, but I had trouble on my side with the phone banking system. You can also speak to an operator via MSN, but judging from the service I received, the speed of the transaction and the time of the transaction, you really shouldn't need to use the live contact.
Bank2Gold
Another good service out there. It works almost exactly like SnapGold. If you get the live operator, the exchanges are instantaneous.
The operator is polite, and you shouldn't lose your way here. I certainly didn't.
Goldert
New kid on the block as far as Singaporean exchanges go. Well, they are not actually really that new. It's run by an old forumer, Apple. So far they do exchanges for Singaporean, Malaysians as well as interested parties from China.
The rates here are probably one of the best all around. Since their appearance, the other exchanges have been forced (whether by choice or competition) to reduce rates. Competition is always good for people like myself who constantly need e-gold.
However, the site doesn't have any chat options. While I doubt the exchanges would take too long, it sure would be more consumer friendly to have a live chat function that all the above exchangers have.
JR Exchange
Update : The site is back up. The rates have not changed since I've been introduced to this site. I'm frankly leery of it.
Another new kid on the block. The rates look good, but the plans look confusing at first glance. Well, to be honest I only took one glance at this one. The only reason why I put this one up was because someone mailed me about a successful exchange here.
A couple of things here that put me off. Firstly, there is live chat but I've never been able to get to anyone online. Secondly, popups, which don't think I need to elaborate more on it. Last but not least, needing to sign up before the real action starts.
While there are the negatives, the website does look pretty well designed and so far feedback has been positive (albeit only one so far). Let's hope there are improvements made in the near future. With their low rates, I might just do couple of exchanges here, when the time is right.
SgExchanger
New one. Worth a look if you're looking to buy or sell some e-gold. There's live chat via YIM or MSN. There's also a wide bank option.
The possible negative is they maybe using paypal.
ECurrenz
This one comes rather well recommended. The rates seems like one of the best in town. There's live chat via MSN.
The only downside is see is that while it's well supported with a bevy of local banks, the significant one missing is OCBC.
WARNING
Stay far far away from this company.
The Global Exchange
I doubt the company is in operation anymore, but no sense risking your money here when there are more trustable options. In any case if you're interested, you can read for yourself why this one is in the dumps.
Labels: Local Exchangers
posted by spectre at 7:42:00 AM
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2 Comments:
Thanks for putting up this page, it's been helpful for fellow sporeans.
I want to comment on Entelnova, since you've never used them before. It's quite a bit of a hassle trying to make an exchange here. There are forms to fill up and forums to sign up with. Also have to give personal particulars, which can be obtained via a bank transfer should the authorities need.
All in all, too much red tape. I gave up trying to make a purchase here.
Hi Harris, thanks for the heads up.
I've gone over to entelnova's website and, yes, it looks like an overkill of information to provide, compared to the other local exchangers.
On the other hand, I can understand why they need all that information to cover their own backsides in case of fraud.
Anyway I hope you managed to change for your e-gold. If you haven't done so yet, I would personally recommend Snapgold and Wyngold. Bank2Gold is pretty good too, but from my own experience, they don't always carry a large reserve.
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