Compare Exchange Rates | New Telegram Bot Adds Features and User Feedback
A new Telegram bot, ExchangeRateComparisonBot, enables people to compare exchange rates from Visa, Mastercard, Revolut, and Wise, making it easier to find the best rates for foreign currency transactions. While many praise its utility, some users raise questions about transaction fees and the accuracy of the rates displayed.
User Insights and Requests for Improvement
The bot allows users to input their local currency, typically in EUR, and provides instant conversion results after entering the transaction amount and currency code. Feedback on forums includes requests for additional features, highlighting evolving user needs. A common request involves adding a function to input the percentage of bank fees, with one user stating, “Look very useful, could you also add a function that can input the % of bank fee?”
There’s also a desire for the bot to include the European Central Bank (ECB) rate, as some German banks use it for payments within the European Economic Area. One comment noted, “Would it be possible to include the ECB rate (at least for EUR as the base currency) because some banks in Germany offer the ECB exchange rate?”
Clarifying Confusion Over Rates
Several users expressed confusion over how rates are presented. One commented, “In your screenshot, how is Visa the best change if you get the least EUR out of your GBP? Isn’t the opposite - wise the top pick?” This indicates a need for clearer information on how the bot calculates the best rate.
Additionally, feedback highlighted concerns about hidden fees. A user remarked, “In the UK I always assumed the bank processing fees (on top of Visa/Mastercard) make a big difference,” pointing out the potential for unexpected costs when choosing payment options.
Key Features Summary
Currency Code Guide: Streamlines international transactions.
Instant Conversion: Quick checks eliminate manual rates.
User Feedback Integration: Requests for bank fee input and ECB rate inclusion are being considered.
Key Takeaways
△ Users advocate for enhancing the bot with options for bank fee input and ECB rates.
▽ Confusion persists about how rates are calculated and presented.
※ "Thanks, this looks great. How did you get the exchange rates for Revolut?" – highlights interest in API functionality.
With ongoing feedback, it appears the bot will continue to evolve. As people become more aware of different exchange rates and potential hidden fees, the move towards transparency in currency conversion could redefine how consumers approach foreign transactions. Will user-driven improvements lock in a loyal following? It’s clear the bot meets a pressing demand in this changing landscape.