Summary :- Discover the best apps in India for your currency exchange needs! At BookMyForex, our team of experts has carefully evaluated different currency exchange apps in India based on certain criteria to provide an unbiased ranking and share all necessary details with you.
When traveling abroad, you’ll likely need to exchange your home currency for the local currency of the country you’re visiting. In this blog, our team of experts has assessed and compared the top currency exchange apps available in India. We have considered critical elements like live exchange rates, rate alert options, the number of currencies available, app order flow, instant card reloads, and so on. We aim to equip you with the necessary information, so you can pick the best currency exchange app in India for your forex needs.
Our Ranking Criteria for Choosing the Best Currency Exchange Apps in India
By evaluating each currency exchange app against the below-mentioned criteria, we aim to provide travelers with an unbiased opinion and comprehensive ranking to help them choose the best app that suits their specific requirements for international travel.
1. Live exchange rates: We’ve given utmost importance to exchange rates in our ranking criteria. We have analyzed whether an app offers live and transparent exchange rates.
2. Personalized rate alert option: We have checked if the app offers a rate alert option, allowing users to secure a specific exchange rate for their transactions.
3. Number of currencies available: We have considered the range of currencies available on the currency exchange app. Apps that offer a wider range of currencies are beneficial for people traveling to multiple destinations.
4. Exchange rate markup: We have examined the exchange rate markup applied by the currency exchange apps. Lower markups typically result in more favorable rates for users.
5. Doorstep Delivery for card/cash: We have checked if the app offers doorstep delivery for both the Forex card and Currency notes, providing added convenience for users.
6. Instant Card Reloads via App: We’ve reviewed the ease of reloading funds onto a Forex card via the app. While some apps have a complex reloading process, others offer instant reloads, which we’ve thoroughly evaluated in this analysis.
7. App order flow: We have analyzed the simplicity, smoothness, and number of steps involved in the app’s order flow, aiming for a seamless user experience.
8. Operating system: We have verified the app’s compatibility with both iOS and Android devices to ensure accessibility for a wide range of users.
9. Play Store and App Store ratings: We’ve examined app ratings on both the Google Play Store and Apple App Store for key insights into app quality and user experience.
10. Customer reviews: We’ve taken into account the reviews on each app, as real user feedback offers valuable insights into the app’s reliability, usability, and overall satisfaction.
11. App security features: We’ve assessed the app’s safety features and adherence to compliance, including two-step verification using OTP, among other measures.
Top Currency Exchange Apps in India
Whether you’re a frequent traveler or gearing up for a one-time vacation, you cannot miss this crucial aspect related to your travel – Currency Exchange. Below are the top 6 currency exchange apps in India based on our ranking criteria.
| S . No. | Best Currency Exchange Apps in India | Ratings |
|---|---|---|
| 1 | BookMyForex App | 4.8/5 |
| 2 | Axis Bank Mobile App | 4.3/5 |
| 3 | Kotak Mobile Banking App | 4.2/5 |
| 4 | ICICI iMobile Pay App | 4.1/5 |
| 5 | HDFC MobileBanking App | 4.0/5 |
| 6 | Unimoni App | 3.6/5 |
1. BookMyForex App
Tired of searching for the best exchange rates? Well, say goodbye to high fees and hello to savings! BookMyForex App is changing how people in India exchange currency. The app offers the best rates in town and delivers forex cards and currency notes right to your doorstep on the same day. BookMyForex is the first and only platform with a Rate Comparison Engine. The app compares rates among hundreds of forex vendors in your area, thereby offering you the best possible deal.
Our Ranking Criteria & Ratings
Overall Rating: 4.8/5
| Criteria | Details | Rating |
|---|---|---|
| Live Exchange Rates: | View Interbank-linked live and transparent rates | 5/5 |
| Personalized Rate Alert Option: | 1. Never miss your desired exchange rate 2. Set rate alerts using the BookMyForex App 3. Just enter the currency and your desired rate 4. Get notified instantly once your preferred rate is available | 5/5 |
| Number of Currencies Available: | 40+ currencies available | 4.9/5 |
| Exchange Rate Markup: | 1. True zero markup rates on Forex cards 2. Rate comparison engine - comparing and offering the best rates on currency notes | 4.8/5 |
| Doorstep Delivery for Card/Cash: | Same-day delivery for both forex cards and currency notes | 5/5 |
| Instant Card Reloads via App: | 1. Instant card reload option is available on the BookMyForex App 2. The card can be reloaded automatically, in real-time, without any manual paperwork 3. No account opening is required | 5/5 |
| App Order Flow: | 1. Intuitive and efficient app flow 2. Minimal steps involved with an easy documentation process 3. Exit option button to resume the booking later | 4.7/5 |
| Operating System: | Compatible with both iOS and Android operating systems | 5/5 |
| Play Store and App Store Ratings: | 1. Rating of 4.7 on the Play Store 2. Rating of 4.0 on the App Store | 4.3/5 |
| Customer Reviews: | 1. 1.2K reviews on the App Store 2. 3.95K reviews on the Play Store | 4.3/5 |
| App Security Features: | 1. Secure login and account access 2. Strong encryption for data transmission 3. User authentication to prevent unauthorized access | 4.8/5 |
2. Axis Bank Mobile App
The Axis Bank mobile app offers currency exchange services, aimed at Indians who travel abroad on a regular basis. The app offers a multi-currency forex card that can be loaded with 16 currencies. Currency notes are available in 14+ currencies and in various denominations. The app also provides the feature to observe live rates, helping users monitor real-time currency exchange rates and make well-informed decisions when it comes to currency exchange.
Our Ranking Criteria & Ratings
Overall Rating: 4.3/5
| Criteria | Details | Rating |
|---|---|---|
| Live Exchange Rates: | 1. Monitor live or real-time exchange rates 2. Find the latest exchange rates to buy or sell currencies | 4.8/5 |
| Personalized Rate Alert Option: | Not available on the mobile app | 2/5 |
| Number of Currencies Available: | 16 currencies | 3.6/5 |
| Exchange Rate Markup: | 2.50% markup over base rates | 3.8/5 |
| Doorstep Delivery for Card/Cash: | 1. 4-5 working days 2. Dispatched via reliable courier services | 3.5/5 |
| Instant Card Reloads via App: | 1. The card reload feature is available on the app for existing customers 2. Reloading typically reflects within a few hours, but it is not instant! | 3.9/5 |
| App Order Flow: | 1. User-friendly and efficient order flow 2. 9-10 steps involved in the order booking process | 4.6/5 |
| Operating System: | Compatible with both iOS and Android operating systems | 5/5 |
| Play Store and App Store Ratings: | 1. Rating of 4.7 on the Play Store 2. Rating of 4.8 on the App Store | 4.8/5 |
| Customer Reviews: | 1. 175K reviews on the App Store 2. 2.49M reviews on the Play Store | 5/5 |
| App Security Features: | 1. Secure Authentication 2. Adheres to regulatory requirements | 4.8/5 |
3. Kotak Mobile Banking App
The Kotak Mahindra Bank mobile banking app offers a convenient solution for all your currency exchange needs. Simply log in, select the ‘Forex’ option, and choose the currencies you want to buy and sell. Enter the desired amount, review the real-time rates and fees, and confirm the transaction – all within a few taps. However, note that this service is currently exclusive to Kotak Mahindra Bank customers in India.
Our Ranking Criteria & Ratings
Overall Rating: 4.2/5
| Criteria | Details | Rating |
|---|---|---|
| Live Exchange Rates: | View real-time or live rates to buy or sell currencies | 4.8/5 |
| Personalized Rate Alert Option: | Setting specific rate alerts is unavailable | 2/5 |
| Number of Currencies Available: | 15 currencies | 3.6/5 |
| Exchange Rate Markup: | 2.5% markup over base rates | 3.4/5 |
| Doorstep Delivery for Card/Cash: | The card is delivered within 7 working days | 3.3/5 |
| Instant Card Reloads via App: | 1. The card reload feature is available on the app for account holders 2. Reloading is processed on the next working day, so it is not instant! | 3.4/5 |
| App Order Flow: | 1. Convenient order flow 2. Few booking steps involved | 4.6/5 |
| Operating System: | Compatible with both iOS and Android operating systems | 5/5 |
| Play Store and App Store Ratings: | 1. Rating of 4.2 on the Play Store 2. Rating of 4.8 on the App Store | 4.5/5 |
| Customer Reviews: | 1. 417.6K reviews on the App Store 2. 1.32M reviews on the Play Store | 4.8/5 |
| App Security Features: | Secure login and account access Strong encryption for data transmission User authentication to prevent unauthorized access | 4.8/5 |
4. ICICI iMobile Pay App
Whether you are a student studying abroad, a frequent traveler, or a corporate professional traveling overseas, you can easily avail ICICI Bank currency exchange services through their mobile app. Currency notes are available in 14 different currencies, while the Forex card can be loaded with a selection of 15 currencies. The bank claims that its forex services are a perfect blend of convenience and safety. However, note that only a Forex card can be requested online, obtaining currency notes requires a mandatory visit to the ICICI bank.
Our Ranking Criteria & Ratings
Overall Rating: 4.1/5
| Criteria | Details | Rating |
|---|---|---|
| Live Exchange Rates: | Monitor live or real-time exchange rates | 4.8/5 |
| Personalized Rate Alert Option: | 1. Track the best rates on foreign currency 2. Use the Rate Alert service to monitor your desired rate 3. The bank will SMS and E-mail you once your desired rate is available | 4.7/5 |
| Number of Currencies Available: | 15 currencies | 3.5/5 |
| Exchange Rate Markup: | 3.5% markup over base rates | 3.0/5 |
| Doorstep Delivery for Card/Cash: | 1. The shipping time is 48-72 hours. 2. Card to be delivered within 4-5 working days. 3. Currency notes delivery is not available | 3.5/5 |
| Instant Card Reloads via App | 1. Instant card reload option is available on the app 2. The option is available only for existing customers | 4.5/5 |
| App Order Flow: | 1. Convenient order flow 2. Few booking steps involved | 4.2/5 |
| Operating System: | Compatible with both iOS and Android operating systems | 5/5 |
| Play Store and App Store Ratings: | 1. Rating of 4.6 on the Play Store 2. Rating of 4.8 on the App Store | 3.5/5 |
| Customer Reviews: | 1. 6.1K reviews on the App Store 2. 53L reviews on the Play Store | 4.5/5 |
| App Security Features: | 1. Two-factor authentication (2FA) 2. Secure Encryption 3. Secure login and account access | 4.8/5 |
5. HDFC MobileBanking App
HDFC Bank, a trusted name in India’s private sector banking, also provides currency exchange services through its dedicated mobile app. The service is however exclusively accessible to HDFC Bank account holders. Besides currency notes, the banking app offers different types of Forex cards, catering to the specific requirements of customers, and ensuring a hassle-free and secure travel experience. Although Forex cards can be requested online, obtaining currency notes requires a mandatory visit to the bank.
Our Ranking Criteria & Ratings
Overall Rating: 4.0/5
| Criteria | Details | Rating |
|---|---|---|
| Live Exchange Rates: | Get the live exchange rates to buy or sell currencies | 4.8/5 |
| Personalized Rate Alert Option: | Not available on the mobile app | 2/5 |
| Number of Currencies Available: | 15 currencies | 3.5/5 |
| Exchange Rate Markup: | 2-3% markup over base rates | 3.5/5 |
| Doorstep Delivery for Card/Cash: | 1. For an HDFC Bank Savings Account customer, the card is delivered within 3 working days 2. For others, it can take up to a week 3. Currency notes delivery is not available | 3.5/5 |
| Instant Card Reloads via App: | 1. Instant card reload option is available, but only for HDFC Bank account holder with a debit or credit card linked to their account 2. Under the standard option, reloading may take up to 24 hours after submitting the request | 4/5 |
| App Order Flow: | 1. User-friendly app 2. However, a lengthy documentation process is involved | 4.0/5 |
| Operating System: | Compatible with both iOS and Android operating systems | 5/5 |
| Play Store and App Store Ratings: | 1. Rating of 3.9 on the Play Store 2. Rating of 3.4 on the App Store | 3.6/5 |
| Customer Reviews: | 1. 1.8K reviews on the App Store 2. 11.3L reviews on the Play Store | 4.5/5 |
| App Security Features: | 1. Two-factor authentication (2FA) 2. Secure Encryption 3. Secure Socket Layer (SSL) | 4.8/5 |
6. Unimoni App
When traveling abroad, you can opt for currency exchange service from Unimoni App, an RBI-authorized AD II category license holder. The mobile app claims to offer the most competitive rates for converting INR to various foreign currencies, such as US Dollar, Euro, Pound Sterling, Australian Dollar, Canadian Dollar, Swiss Franc, Japanese Yen, and others. However, it’s essential to note that a lot of users find the Unimoni App to be user-unfriendly. Despite this potential inconvenience, the Unimoni app stands out as a practical solution for hassle-free currency exchange.
Our Ranking Criteria & Ratings
Overall Rating: 3.6/5
| Criteria | Details | Rating |
|---|---|---|
| Live Exchange Rates: | Easily check live exchange rates before buying or selling currencies | 4.8/5 |
| Personalized Rate Alert Option: | Not available on the mobile app | 2/5 |
| Number of Currencies Available: | 14 currencies | 3.0/5 |
| Exchange Rate Markup: | 2% markup over base rates | 3.5/5 |
| Doorstep Delivery for Card/Cash: | Unimoni does not clearly specify the precise number of days for delivery | 3.0/5 |
| Instant Card Reloads via App: | 1. Instant card reloading feature is not available on the app 2. The reload might take between 24 to 72 hours to reflect on the card balance | 3.1/5 |
| App Order Flow: | 1. User-unfriendly app interface 2. Inconvenient order booking flow | 3.2/5 |
| Operating System: | Compatible with both iOS and Android operating systems | 5/5 |
| Play Store and App Store Ratings: | 1. Rating of 4.3 on the Play Store 2. Rating of 4.3 on the App Store | 4.3/5 |
| Customer Reviews: | 1. 4 reviews on the App Store 2. 853 reviews on the Play Store | 3.2/5 |
| App Security Features: | 1. 2-Factor Authentication (2FA) 2. Secure Data Transmission 3. Regular Security Updates | 4.5/5 |
Wrapping up:
Individuals travel abroad for various reasons, including studying abroad, accessing better healthcare facilities, pursuing professional careers, exploring tourist destinations, and more. Given that international travel necessitates currency exchange, it becomes an essential aspect of the travel experience. After an in-depth comparison using the outlined criteria, the BookMyForex App clearly takes the lead among its counterparts when it comes to the best currency exchange apps in India.
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