Welcome to the world of currency exchange inside your NEEMA app! NEEMA account balances are displayed in USD by default, ensuring consistency and value preservation across international transactions.
This option allows you to buy and sell any currency you have in your Neema account into another currency if you think you have spotted a trend in the currency market. Neema does not take any fees for this operation.
With Neema you can hold a balance in either ILS, USD, EUR or even GBP and more coming. You can convert between them if you like or need based on the exchange rates provided by Neema. Additionally, you can manage conversions directly in the app, such as exchanging USD to ILS or vice versa, using real-time exchange rates.
The button for currency conversion is located within your NEEMA app: Use the 'Convert' option to exchange currencies like USD to ILS or purchase other supported currencies such as EUR or GBP.
NOTICE
If you buy a currency and then sell it you will not receive the same amount back. for example if you have dollars and buy shekels and then decide to sell your shekels again you will not receive the same dollars back.
this is because of the difference between the buy and sell rate of each currency. they are NOT the same.
A full explanation of how exchange rates work can be studied at the link here
and a summary is as follows:
In the retail currency exchange market, different buying and selling rates will be quoted by money dealers. Most trades are to or from the local currency. The buying rate is the rate at which money dealers will buy foreign currency, and the selling rate is the rate at which they will sell that currency. The quoted rates will incorporate an allowance for a dealer's margin (or profit) in trading
🚨All exchanges are final and will NOT be canceled.