Hope this helps others, since I haven't seen any similar post on the web that shows how to format a text field using NSNumberFormatter but at the same time keep the UITextField cursor position to where it should naturally be. Those, because after formatting, the NSString from inside the UITextField and setting it back to the field you end up with the cursor placed an the end of the field.
Also it will be nice to convert it to Swift for those that needs it.
How to format UITextField with NSNumberFormatter?
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And here is my answer to the issue, I am using a UIKeyboardTypeNumberPad, but also it will work fine with a UIKeyboardTypeDecimalPad, if other keyboard types are used, feel free to add a regex before using the next code: