Currency conversion
When I went to Cancun, I charged/paid for things at different locations and at each location, there was a different exchange rate for the peso to USD. I would like to suggest a way to set the exchange rate for each item when doing a "trip" group. I ended up having to manually calculate the conversion and split it up each night for a group of 16.
Naris Vipatapat
shared this idea
Currency conversion is now included with our premium version, Splitwise Pro (https://secure.splitwise.com/pro/subscribe). Right now, it’s a web-only feature, but we hope to add it to our mobile apps in the future!
On the web, if you click on a friend or group in the left sidebar, then click the settings icon at the top of the right sidebar, you’ll see an option to convert all transactions with that friend/group to your default currency, using the current market exchange rate. You’ll also see a suggestion to convert currencies appear automatically when viewing a group with balances in multiple currencies.
Hope this helps a bit! We’d definitely like to continue improving multiple currency support over time – I can’t say how quickly that will happen, as we’re a very tiny team, but it remains on our to-do list for the future. If you have suggestions or feedback, feel free to comment on this post and let us know. Thanks!
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Shlomo
commented
looks like it is there! Just saw a box asking me to convert all currencies to USD within a group. Great feature! Great implementation! Will save me a lot of time.
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Adam
commented
I'd like to see the conversion with manual input of exchange rate.
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Lorenz Strohm
commented
this Feature Would be great - perfect for vacation with friends!
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Anonymous
commented
Currency conversion would be a great touch and fairly easy to implement!
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Markus
commented
P.S. One additional thought... I would steer clear of the Paypal or Venmo settlement feature as that space is highly volatile and constant flux... e.g. Square's send cash feature via app or email just radically upended both of those. KISS concept (keep it stupidly simple).
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Markus
commented
My $0.02.... or GBP 0.012....
As linking externally to an outside source (XE, Oanda, etc.), is dependent on a data link - not always possible when travelling - and can be over-complicated with the % spreads on interbank spot FX rates (e.g. ATM ~ +/- 2%, Credit Cards ~ +/- 3% & Kiosks ~5%+ etc.) - why not simplify by having the ability to manually input the conversion rate(s) over a range of dates? - & if a conversion rate is not input, the splits stay in that native currency.
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Nikhil
commented
Think this is a great idea.. Should have the option to convert at the spot rate from xe.com, or a manually adjusted rate... Considering splitwise is used by many for tracking group travel expenses, this would be a nifty feature. I have to do a manual conversion into GBP / $ from other currencies so makes it a bit annoying as I cannot track in one spot.
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carlwh
commented
I'd love to see this feature added as well. Integrating PayPal and Venmo is great. In PayPal's case (not sure about Venmo), I can technically pay my friend back in the same currency as the charge, but that's sort of an annoyance because then they'd have to pay a fee for PayPal to convert it back into their home currency. If Splitwise performed that currency conversion calculation based on the exchange rate on the transaction date, then all currencies could be consolidated into one when it's time to settle up at the end of a trip.
I believe (correct me if I'm wrong) as it stands now, if we have multiple currencies, then all transactions for each currency are grouped together resulting in an owe/owed amount in each currency for each group member. This usually results in redundant payments, but if those values were added together according to proper exchange rates, it would lend even greater meaning to the "Simplify Debts" option. :-)
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vlm
commented
Currency conversion should be made simple. In each bill there should be optional fields for conversion rate and target currency. With those fields filled, automatic conversion should apply and result in balance with target currency. I'm really looking forward for some kind of this feature and I do hope it will be introduced before my winter holiday abroad where's always a lot of conversions needed.
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Anonymous
commented
I would also love to see conversion.
During a trip, I don't have a problem adding items as they are actually charged. But after the trip, when we were trying to settle, we have charges in three different currencies.
Currently, I use a settle transaction in one currency followed by owed transaction in another to convert the items. What I would like is to be able to select from and to currency and exchange rate and have the a transaction that converts the amount.