Aj Currensea Card – Best Travel Cards

A new fintech company which I was introduced to previously this year. Aj Currensea Card…

It has won a couple of awards over recent months for what it does (providing you a low-cost method to spend abroad) however what I like about  is that it is easy as hell. This is an advantage.

is, efficiently, a direct debit travel card. It is a Mastercard which sits in between you and your existing bank account. There is nothing to top-up or prepay. You merely spend as you would on a regular debit card and the cash is taken from your bank account– just without the normal 3% charge.

Oh, and  is free to apply for, which likewise helps.

There are also some interesting travel advantages if you choose a paid strategy, but the complimentary strategy works fine. You can use here.

There is a business model in fintech which Curve, Revolut, Monzo and so on have actually all followed:

launch by doing one thing well, and free of charge or cheaper than the competitors
add increasingly more features which your existing consumers do not truly desire or need

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

It is a complimentary direct debit card to utilize abroad and which instantly charges all purchases to your existing bank account in Sterling, less a small 0.5% cost.

That’s it.

You don’t (yet …) earn any airline company miles or points for utilizing it.

Why would I wish to get a card?
If you have a credit card offering 0% forex charges, then you do not require a  card, unless you desire complimentary ATM withdrawals. You can stop checking out now.

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

IS potentially for you if:

you do not have a credit card offering 0% FX fees and do not wish to affect your credit report by getting another credit card particularly to use abroad
you desire an item which enables you to make �,� 500 of foreign currency ATM withdrawals each month with no fees and only a very little FX mark-up (there is a little cost beyond �,� 500).
you desire a product for you, your adult children, moms and dads, partner or anyone else in your life who needs a simple, easy to understand payment card that will save them money when travelling.

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

You make your purchase in local currency (any currency, worldwide).
Your current account bank instantly confirms that you have adequate cash in your account and authorises the deal.
The transaction goes through at either the interbank rate or the Mastercard rate, depending on the currency. If you have the totally free card,  adds a 0.5% charge. If you have one of their paid cards, there are no costs.
You get an automatic invest notice via the app, if you pick to install it.
The cash is taken from your current account a couple of days later on.
Here is an example. With no foreign travel in the diary, I chose to splash out and buy 1,000 MeliaRewards points for EUR5.

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

However transforming pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daytime break-in that is practically to occur (frequently in a various language) while not telling you about the expensive currency conversion fees happening in the background. Do not get me started. Anyway back to the positives for a bit anyhow.

Luckily in the last few years a handful of excellent travel debit cards have popped onto the scene … and like other fantastic cards  promises big cost savings (85%) and a great app.

But I think the very best bit might be what no other card does: links to your existing high street savings account.

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

In this Currensea review is the excellent, the bad, the unsightly and the alternatives, so that you can choose.

FX markup.
While our premium strategies have no FX markup, we charge a small FX markup on our Vital Plan of 0.5% per deal, allowing us to make profits from our Important Plan whilst staying much cheaper than other pre-paid cards and high-street debit cards. We likewise charge an FX markup on ATM usage over the free amount on all our strategies, complete details can be found on our prices plans.

Membership costs.
We charge an annual subscription fee of �,� 25 for our Premium Plan, and �,� 120 for our Elite Strategy. The subscription fee also gets rid of all FX markup on deals.

Interchange.
Every time you invest with your card we get a small % of the transaction, referred to as interchange, this comes directly from the merchant and won’t be charged to you. Aj Currensea Card