Currency exchange apps make your transactions efficient, fast and secure. One of the critical aspects of managing expenses in a foreign country is handling currency exchange efficiently. With fluctuating exchange rates and various fees involved, it’s important to find reliable and user-friendly currency exchange solutions. Currency exchange apps make currency exchange convenient, cost-effective, and straightforward. At the time of currency depreciation, the app allows you to exchange currency at better rates. To know some of the best currency exchange apps for international students studying abroad or planning to study abroad, continue reading further.
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What are Some Best Currency Exchange Apps?
There are a lot of currency exchange apps that offer easy currency conversion for international students. Some of the best reliable apps are TransferWise, Revolut, Western Union, Currency Fair, PayPal, OFX etc. Using apps also helps to avoid dynamic currency conversion. All these apps offer competitive exchange rates and a user-friendly process of exchanging currencies. Check the details of the currency exchange apps below:
Also Read: Check here all the major features and benefits of Axis Bank Forex Card for international students.
TransferWise (Wise)
TransferWise, now known as Wise, is renowned for offering real mid-market exchange rates without hidden fees on currency exchange. This app is a cost-effective choice for currency conversion. It’s low transfer fees and transparency in pricing provide you with the best possible deal. Check more details below:
- The app also features multi-currency accounts which allow users to hold and manage money in multiple currencies.
- This is particularly useful for students travelling or having expenses in different countries.
- With its user-friendly interface, Wise simplifies the process of transferring money to and from India
Revolut
Revolut is one of the best currency exchange apps due to its fee-free currency exchange at interbank rates. There is a certain monthly limit for transferring money free of cost. Revolut also offers a multi-currency travel card which allows spending in various currencies without additional charges. You can also use it at multiple point of sale channels. Check more details below:
- The app offers budgeting tools that help to manage expenses efficiently.
- The Revolut Forex card has wide acceptance and can be used in any country worldwide.
- For Indian students, Revolut’s comprehensive features like its user-friendly interface and analytics tools.
Also Read: Check here all the information about Currency Hedging and know how it works.
CurrencyFair
CurrencyFair is one of the most reliable currency exchange apps. It operates on a peer-to-peer model that enables users to exchange currency directly with others at competitive rates. This approach often results in better rates than traditional services. Check more details below:
- CurrencyFair offers low, transparent fees and quick transfer processing which ultimately results in substantial savings and convenience.
- Due to the peer-to-peer features, this platform is a great option for cost-effective currency exchange.
- It provides 24×7 customer support and you can contact them any time if you face any issue regarding currency exchange.
PayPal
PayPal is globally recognised for its secure and widely accepted platform. It is one of the oldest and best currency exchange apps. The app offers secured and encrypted transactions ensuring that your funds are safe. Check more details below:
- PayPal offers the flexibility to link multiple bank accounts and cards which makes managing finances easy.
- PayPal is quite reliable and has a global reach which makes it a trusted choice for handling international payments and receiving funds from family and friends.
- It also offers different types of discounts for international students on adding or sending money, currency conversion etc.
OFX
OFX is another best currency exchange app that provides competitive exchange rates often superior to those offered by banks. The app offers no transfer fees which makes it an economical option for large transactions like tuition fees or accommodation costs. Check more details below:
- The platform’s 24/7 customer support ensures help is available whenever needed which makes it quite reliable.
- For international students, OFX’s combination of excellent rates, no fees, and constant support makes it a valuable tool for managing finances.
- The app is available on both Android and iOS phones and you can download it from App Store or Google Play Store.
Managing currency exchange is an important aspect of studying abroad for students. With the right apps, you can save money, reduce stress, and ensure that your finances are well-managed. Check some FAQs on the best currency exchange apps below:
FAQs
The best currency exchange apps for students studying abroad include TransferWise (Wise), Revolut, CurrencyFair, PayPal, and OFX.
TransferWise (Wise) offers real mid-market exchange rates without hidden fees which makes it a cost-effective choice for currency exchange.
Revolut provides fee-free currency exchange at interbank rates up to a certain monthly limit, which is beneficial for students. It also offers a multi-currency travel card for spending in various currencies without additional charges.
CurrencyFair operates on a peer-to-peer model which enables users to exchange currency directly with others at competitive rates.
PayPal is known for its secure platform, flexibility to link multiple bank accounts and cards, and global reach which makes it a trusted choice for handling international payments and receiving funds. OFX also provides competitive exchange rates with no transfer fees, and 24/7 customer support, and is available on both Android and iOS.
To know more about education loans, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
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