Using BNZ Convert It app
BNZ Convert It uses your camera to scan prices, then converts them to New Zealand dollars to give you an indication of the cost. The app is available to all New Zealand residents over 18 years old.
How it works
BNZ Convert It checks your location via IP address, which indicates the country you’re in and therefore the currency you need to convert. The app supports 170 currencies, and you can also manually search for a currency through the Change Currency option.
Downloading BNZ Convert It
Converting online and offline
If your device is connected to the internet, it has access to the most recent conversion rates. Those currency rates are indicative and are updated every 6 hours. The latest rate is stored on your device and marked by the date stamp.
If your device isn’t connected to the internet, you can still use BNZ Convert It offline; the app will simply use the indicative rates from the last time you were online.
Using your camera
BNZ Convert It uses image recognition to read prices through your camera, and convert them into New Zealand dollars. This means you’ll need to give the app access to your camera. Once scanned, a price will stay on screen until the app is closed or another price is scanned.
If the price won’t convert, try changing the camera angle, getting into better light, using the torch function, or using the manual calculator. You can find the manual calculator icon at the top right of the main screen. This can also be used if you want to convert a specific amount, rather than detecting a price.
Understanding indicative rates and prices
The rates for BNZ Convert It are sourced from global financial data providers, including the European Central Bank, which gives us access to indicative mid-market rates. An indicative mid-market rate is not a rate that is available to consumers - it is a mid-point between the current buy and sell transactional rates from global currency markets.
The mid-market rates are sourced from the last time your device was connected to the internet, and used to give you an indicative price for an item. The rate that is applied when you purchase the item will depend on factors like the provider you use and when your transaction is processed. Additional costs may apply that are not included in the indicative price, such as bank transfer and conversion fees which will vary from provider to provider.
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