Top 5 Tips for Choosing the Best Currency Converter App

Save money with the best exchange rates & lowest fees

Trying to stick to a budget and don’t want to waste money on outrageous currency exchange fees? You don’t have to take out a loan to simply pay the exchange rate. Search for an app that lets you exchange money for free or at a low cost so you can save your money and, instead, spend it where it counts.

You may also be interested in an app that directs you to nearby banks or credit unions where you can get the best exchange rates available. Or, if you don’t want to take an app’s word for it, find one that shows exchange rate fees for all of the banks in your area so you can compare costs and put your personal finance first.

And, if you prefer to run an exchange fee comparison trial before you ever commit to exchanging your money at one particular lender, you may want to consult reputable apps like Travelex, Oanda, or Yahoo to find out who they’re saying has the lowest fees around. This way, you can be sure that you’ve done your due diligence and the money you’re saving is significant.

Interested in transferring money online? Whether you’re looking to send your money domestically or internationally, you may want to look for an app with a service through popular transfer companies like TransferWise, Revolut, or Western Union

Use the right calculator to convert to your currency

Converting currency by hand can be tough and cumbersome, so finding an accurate currency calculator that you can take with you on-the-go can make all the difference when traveling abroad.

Avoid receiving fake results by selecting a currency calculator that you can trust. With so many currency converters out there, you can definitely find one by a developer or company you know and love. This way, you can travel all around the world - from Paris to Costa Rica - with the confidence of knowing exactly how much each payment you make is costing you.

Need to quickly convert USD to GBP or the euro but don’t have time to wait for an app to load? Select an app that has a currency converter calculator widget that you can have right on your phone’s home screen. This will make money exchange quick and easy because all you have to do is type in a few numbers and - presto! - instant results.

You don’t have to stress yourself out in order to make your foreign fantasy come to love; especially when it comes to money. A currency calculator can help make the entire process easier than you ever would have imagined. 

Make informed decisions with up-to-date exchange rates

It’s important to know how far your money will stretch when making purchases in countries outside of your own. For this reason, having access to exchange rates that are always up-to-date is absolutely essential.

Regardless of whether you need to convert your money to the pound, euro, USD, or Canadian dollar, you’ll want an app that offers accurate exchange rates for one or more currencies so you can stay informed of the changing currency conditions.

Need to transfer money and are wondering about the comparison of American dollars to other international currencies? You don’t need to stump yourself wondering how much your money is worth. Find an app that offers exchange rates, including PCM (per calendar month) rates, so you can get an overview of what you will need to pay in transfer and exchange fees.

Or, select an app - like TransferWise - that will make the transfer for you; even if it’s going as far away as Amsterdam!

Find ATM’s to exchange money near you

Run out of the currency you need when traveling in a country that isn’t your own? You’ll want an app that can direct you to nearby ATMs where you can exchange your currency and withdrawal the money that you need.

It can be easy to make the basic “tourist” mistake of not bringing enough money in the correct currency, such as the Japanese yen or Colombian pesos. Instead of hastily searching Google for “ATMs for foreign transactions near me,” consider looking for an app that offers directions (by your location) to nearby ATMs that you can use at a low-cost rate. So, whether you’re in Taiwan, Bali, or Amsterdam, you can quickly access money when you need it most.

In a region where your native language isn’t spoken? You may want to search for a currency converter app that can translate basic ATM words and phrases (e.g. withdrawal, deposit, savings, checking) into widely spoken languages like English, Spanish, and French. This way, you can be sure that you aren’t accidentally depositing $100 when you should be withdrawing $10.

Access historical information to review past exchange rates

Seeing how exchange rates have changed and fluctuated over time can help you better predict ways they might change again in the future.

For those who actively like to monitor historical exchange rates, you’ll want to look for a currency converter app that allows you to search rates by date. This way, you can see what currency exchange rates were like in various years throughout history preceding large economic events (such as the United State’s Great Depression) for valuable insight into how rates are changing today.

Want to break down the numbers into even greater specifics? You may want to look for an app that allows you to browse results not just by year, but by month and day as well. By doing this, you can really focus your understanding of exchange rates and how and when exactly changes occur. 

Now you know a bit more about choosing the perfect currency converter app for you. It’s high time you put those new skills to the test by checking out our list of the Best 10 Currency Converter Apps on the market! 

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