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Lets take control of our foreign exchange

Category: Finance | 
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Description

ok so how many times have you come back from abroad with money still in your pocket or you're at the airport and wish you could take more money but don't want to be fleeced by the airport foreign exchange? Here's the solution and it stops those greedy exchange guys getting there slice of our money - letsxchange is an app similar in concept to Uber. Once registered you can 'request' a search for someone, like you, who wants to exchange currency. Here's how it can work - you are at the airport waiting to fly home. You have $300 left and you use your letsxchange app. Someone in the airport is looking for dollars and gets your request. You meet up and swap money. Some App info - Access to up to date exchange rates and a suggested rate you can use. So as an example the airport exchange rate is 1.70 USD per £1 to buy back and you bought them for 1.50 USD per £! which means you paid £200 for those 300 USD but when you sell them to the airport exchange you only get £176 back. The app might suggest exchanging the Dollars with someone for 1.55 which means you get £196.50 back AND the person you exchanged them with also get a bargain as they have also made a small saving with a better exchange rate than is currently available. Once you register you stay live and your GPS will add you to any requests nearby as you move around. You can use an avatar and no personal information is exchanged. In fact no means of contacting or exchanging info will be started until you accept the request and both parties accept the exchange rate. Personal safety is a priority and all meetings should be organised around this. The app will prompt and give advice regards meeting points. This is already the case with ebay or gumtree. As the app progresses it will develop further. Suggested revenue can come from the seller who will make a payment of £1 to register (considering they are making £20 profit over a standard exchange system that ain't too bad)

Interested Team Members

  • Jack Foster
    United States
    App Developer
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