—Á—Ç–Æ —Ç–∞–∫–Æ–µ Currensea Card – Best Travel Cards

A new fintech business which I was introduced to earlier this year. —Á—Ç–Æ —Ç–∞–∫–Æ–µ Currensea Card…

It has actually won a few awards over current months for what it does (providing you an inexpensive way to spend abroad) but what I like about  is that it is easy as hell. This is a good thing.

is, efficiently, a direct debit travel card. You just invest as you would on a normal debit card and the cash is taken from your current account– just without the normal 3% cost.

Oh, and  is free to request, which likewise helps.

There are also some interesting travel advantages if you select a paid plan, however the totally free plan works fine. You can apply here.

There is a company design in fintech which Curve, Revolut, Monzo etc have all followed:

launch by doing one thing well, and totally free or more affordable than the competitors
add more and more functions which your existing customers do not really require or desire

include constraints, fees or charges to the function that made individuals get your item in the first place, removing any competitive advantage
is presently still in Stage 1 of this procedure and will ideally stay there. Revolut, monzo and curve are currently in Phase 3 …
is easy enough that it passes my ‘Can you explain it to your mate in the pub in 30 seconds?’ test:

It is a free direct debit card to utilize abroad and which automatically recharges all purchases to your existing current account in Sterling, less a little 0.5% fee.

That’s it.

You do not (yet …) earn any airline miles or points for using it.

Why would I wish to get a card?
If you have a charge card offering 0% foreign exchange fees, then you do not require a  card, unless you desire free ATM withdrawals. You can stop reading now.

Nevertheless, credit cards which offer rewards and charge 0% FX costs are scarce. The only ‘miles and points’ alternatives which provide a partial option are the Virgin Atlantic credit cards which have 0% FX costs in the Euro zone.

IS potentially for you if:

you do not have a charge card offering 0% FX fees and do not wish to affect your credit report by getting another credit card specifically to use abroad
you want an item which enables you to make �,� 500 of foreign currency ATM withdrawals per month with no charges and only a minimal FX mark-up (there is a small charge beyond �,� 500).
you desire a product for you, your adult kids, moms and dads, partner or anyone else in your life who needs an easy, easy to understand payment card that will save them cash when taking a trip.

How does  operate in practice?
It is, as I said earlier, a very easy procedure. You use your Currensea card in the same way as your existing debit card.

You make your purchase in regional currency (any currency, worldwide).
Your current account bank immediately confirms that you have sufficient cash in your account and authorises the deal.
The deal goes through at either the interbank rate or the Mastercard rate, depending upon the currency. If you have the complimentary card,  adds a 0.5% cost. There are no costs if you have among their paid cards.
You get an automated invest notice by means of the app, if you choose to install it.
The cash is taken from your bank account a few days later.
Here is an example. With no foreign travel in the diary, I decided to sprinkle out and buy 1,000 MeliaRewards points for EUR5.

This is what you see in the Currensea app, which reveals �,� 4.33 set up to leave my HSBC account a few days later on:.

Transforming pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daylight burglary that is practically to happen (typically in a different language) while not telling you about the expensive currency conversion fees occurring in the background. Don’t get me started. Anyhow back to the positives for a bit anyway.

Fortunately recently a handful of great travel debit cards have popped onto the scene … and like other excellent cards  guarantees big cost savings (85%) and an excellent app.

I believe the finest bit might be what no other card does: links to your existing high street bank account.

What this suggests is you can spend cash you have in your existing bank account with less worry about lacking cash and the additional step. But that does not suggest it is ideal.

In this Currensea evaluation is the great, the bad, the ugly and the alternatives, so that you can decide.

FX markup.
While our premium strategies have no FX markup, we charge a small FX markup on our Important Plan of 0.5% per transaction, allowing us to make profits from our Necessary Plan whilst staying more affordable than other pre-paid cards and high-street debit cards. We also charge an FX markup on ATM usage over the complimentary amount on all our strategies, complete information can be discovered on our prices strategies.

Subscription costs.
We charge a yearly membership charge of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Plan. The subscription fee likewise eliminates all FX markup on transactions.

Interchange.
Each time you invest with your card we get a small % of the deal, referred to as interchange, this comes directly from the merchant and will not be charged to you. —Á—Ç–Æ —Ç–∞–∫–Æ–µ Currensea Card