Your nest's currency
A nest's base currency is the one its expenses and balance are kept in. Any member can change it until the first payment, a settled period or an expense in another currency fixes it. Expenses in other currencies are converted into it when they are added.
To add an expense in another currency, you don't need to switch the nest. Turn on Expenses in other currencies, and Eider converts each of those expenses into the base currency when you add it. Adding one fixes the nest's currency, so if the nest is in the wrong one, switch it first.
Can I change my nest's currency?
Yes, until one of these happens in the nest:
- A payment is recorded.
- A period is settled.
- An expense in another currency is added.
Any member of the nest can change it. Open the nest menu from the ring at the top left of the home screen and choose Nest settings, which opens a screen headed Nest details. Base currency is under Currency settings there.
Each of the three records something in the nest's currency that a switch would make wrong: money that changed hands, a settled period's totals, or an exchange rate. Once the currency is fixed, the Base currency row is read-only, and its caption says what fixed it, such as Fixed once a payment is recorded.
While the nest can still switch, two other places offer it. On the first expense you add while setting up Eider, choose the currency symbol on the amount. Home can also show a card, such as Spending in EUR?, that offers Switch when the country Eider detects for you uses another currency Eider supports.
If yen or won is missing from the list, some amount in the nest has cents, and neither currency has a smaller unit to hold them.
What changes when I switch?
Only the currency. Every amount keeps its number, so 500 US dollars becomes 500 Mexican pesos. Nothing is converted at an exchange rate. Repeating expenses and the figures on scanned receipts are relabeled the same way, and titles, categories, dates and how each expense is split stay as they are.
When you switch to yen or won, which have no cents, each person's share of an expense is rounded to a whole unit so the shares still add up to the amount. A 10 dollar expense split 3.33, 3.33 and 3.34 becomes a 10 yen expense split 3, 3 and 4.
If the nest has expenses, Eider asks you to confirm first, such as Switch to EUR?, and says how many expenses will change. If it has none, the switch happens as soon as you pick.
The other members of the nest get a notification in the app, but no push. Each of them can turn these off: open the account menu from your avatar at the top right of the home screen, choose Notifications, and turn off Currency changes, under Activity. Your account covers the other notification switches.
What if the currency is fixed and wrong?
Start a new nest in the right currency. Open the nest menu and choose Add a nest, which is under Show more nests once you're in more than one nest. The currency starts filled in, so check it before you choose Create nest, which names it, such as Create nest (EUR). A new nest starts with just you, so invite the others again once it is created. The old nest and its expenses stay as they are. Nest settings covers starting a nest in full.
If a new nest will not work for you, email support@eider.app.
Why are yen and won missing when I change the currency?
Because some amounts in your nest have cents. Yen and won have no smaller unit, so an amount like 12.50 has nowhere to go, and Eider does not round an expense's amount to make it fit. The top of the Base currency list says so: Yen and won are hidden because some amounts in this nest have cents. The two appear in the list again once every amount in the nest is a whole number, including repeating expenses and the figures on scanned receipts.
This only affects the nest's base currency. With Expenses in other currencies on, you can still add an expense in yen or won.
If you meant to use yen or won from the start, start a new nest in that currency.
Which currencies does Eider support?
Eider supports these 29 currencies, for a nest's base currency and, once Expenses in other currencies is on, for an expense in another currency:
- US dollar (USD)
- Euro (EUR)
- British pound (GBP)
- Japanese yen (JPY)
- Canadian dollar (CAD)
- Australian dollar (AUD)
- New Zealand dollar (NZD)
- Swiss franc (CHF)
- Mexican peso (MXN)
- Brazilian real (BRL)
- Argentine peso (ARS)
- Peruvian sol (PEN)
- Uruguayan peso (UYU)
- Swedish krona (SEK)
- Norwegian krone (NOK)
- Danish krone (DKK)
- Polish zloty (PLN)
- Czech koruna (CZK)
- Romanian leu (RON)
- Singapore dollar (SGD)
- Malaysian ringgit (MYR)
- Hong Kong dollar (HKD)
- South Korean won (KRW)
- South African rand (ZAR)
- Moroccan dirham (MAD)
- Indian rupee (INR)
- UAE dirham (AED)
- Israeli shekel (ILS)
- Turkish lira (TRY)
The add sheet leaves out a currency Eider has no exchange rate for at the moment. Changing the base currency can leave out yen and won.
What if my currency isn't on the list?
Request it. Eider offers a request in three places:
- Any currency list: search for the currency. When nothing matches, the search field says No currency matches, and the list shows Don't see your currency? with Request it.
- Creating a nest: when the country Eider detects for you uses a currency Eider doesn't support, a line under the currency field names it, such as NGN isn't supported, followed by Request it.
- Home: in the same case, while the nest's currency can still change, a card can ask Spending in NGN? and offer Request.
After you choose Request it, the line reads Thanks, we've noted your request. On home, choosing Request closes the card and shows the same thanks.
A request records the currency's three-letter code and the country Eider detects for you. In a currency list, search by the code, such as NGN, rather than by the currency's name: a request made from a search by name doesn't say which currency you meant.
How do I add an expense in another currency?
Turn on Expenses in other currencies for the nest, then pick the currency in the add sheet. It starts off in every nest, any member can turn it on, and it's free.
To turn it on, open the nest menu from the ring at the top left of the home screen and choose Nest settings, which opens a screen headed Nest details. Expenses in other currencies is under Currency settings, below Base currency, and its caption names the currency it converts to, such as Converts to USD when you add it. In a new Trip nest with no expenses yet, home can also show Traveling abroad? under Finish setting up, which opens the same screen. Nest settings shows where the nest menu opens on each device.
Once it's on, the add sheet shows the currency you're entering in at its top right, such as $ USD. Choose it and pick the currency you paid in. Screen readers call it Entering in, followed by the currency's code. When it isn't the nest's currency, it shows in color, and so does the amount's symbol. The next expense you add to the nest starts in the currency you last added one in. A repeating expense always stays in the nest's currency, so the currency doesn't show while the add sheet reads Repeats.
Under the amount, a line shows the exchange rate until you type, then what the amount comes to in the nest's currency. It uses the latest rate Eider has, and names that rate's date instead of saying today when the rate is more than five days old or the expense is dated in the past.
When you add the expense, Eider converts it at the rate for the expense's date: the rate published that day, or the last one before it, such as Friday's for a Sunday. So for an expense dated in the past, the amount saved can differ from the one the line showed.
For the Argentine peso, Peruvian sol, Uruguayan peso, Moroccan dirham and UAE dirham, Eider can only get the current rate. When the expense or the nest is in one of them, an expense dated in the past converts at a rate Eider already has, which can be from another day, and the expense records that rate's own date.
The expense keeps both amounts. Balances, splits and settling up use the amount in the nest's currency. In the list of expenses, it shows the amount you entered, in its own currency, just before the total. Open it, and under Total it shows Original, the amount you entered, and Rate, the rate it was converted at, with the rate's date and where the rate came from: European Central Bank or ExchangeRate-API.
The rate can't be changed. If you change the expense's amount later, Eider drops the conversion: the new amount is in the nest's currency, and Original and Rate no longer show.
Turning Expenses in other currencies off again only removes the currency from the add sheet. Expenses already added keep their original amounts and rates.
While the nest has an expense in another currency, its base currency can't be changed. If the nest is in the wrong currency, change it before you add one.