Booking Com Currensea Card – Best Travel Cards

A new fintech business which I was presented to previously this year. Booking Com Currensea Card…

It has won a couple of awards over recent months for what it does (offering you an inexpensive method to invest abroad) but what I like about  is that it is basic as hell. This is a good thing.

is, successfully, a direct debit travel card. You simply spend as you would on a normal debit card and the cash is taken from your present account– just without the usual 3% cost.

Oh, and  is complimentary to obtain, which likewise helps.

There are likewise some intriguing travel benefits if you select a paid plan, however the complimentary plan works fine. You can use here.

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

launch by doing one thing well, and for free or cheaper than the competitors
include more and more functions which your existing customers do not truly need or want

add charges, fees or constraints to the function that made people get your product in the first place, getting rid of any competitive advantage
is currently still in Phase 1 of this procedure and will ideally remain there. Monzo, curve and revolut are currently in Phase 3 …
is easy enough that it passes my ‘Can you describe it to your mate in the bar in 30 seconds?’ test:

It is a complimentary direct debit card to use abroad and which immediately charges all purchases to your existing bank account in Sterling, less a little 0.5% fee.

That’s it.

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

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

Credit cards which provide rewards and charge 0% FX costs are couple of and far between. The only ‘points and miles’ choices which provide a partial service are the Virgin Atlantic charge card which have 0% FX costs in the Euro zone.

IS perhaps 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 charge card particularly to use abroad
you want an item which permits you to make �,� 500 of foreign currency ATM withdrawals monthly without any costs and only a very little FX mark-up (there is a little fee beyond �,� 500).
you desire an item for you, your adult children, parents, partner or anyone else in your life who requires a simple, easy to understand payment card that will conserve them cash when taking a trip.

How does  work in practice?
It is, as I stated previously, an extremely basic procedure. You utilize 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 enough cash in your account and authorises the transaction.
The deal goes through at either the interbank rate or the Mastercard rate, depending on the currency. includes a 0.5% fee if you have the totally free card. There are no fees if you have among their paid cards.
You get an automated invest notice through the app, if you pick to install it.
The money is taken from your current account a few days later on.
Here is an example. Without any 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 shows �,� 4.33 arranged to leave my HSBC account a few days later on:.

Converting pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daylight burglary that is practically to occur (typically in a different language) while not telling you about the inflated currency conversion charges taking place in the background. Do not get me began. Anyway back to the positives for a bit anyhow.

In current years a handful of terrific travel debit cards have actually popped onto the scene … and like other excellent cards Currensea guarantees huge savings (85%) and a great app.

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

What this indicates is you can spend cash you have in your existing bank account with less worry about running out of money and the additional action. But that does not imply it is best.

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

FX markup.
While our premium strategies have no FX markup, we charge a nominal FX markup on our Vital Strategy of 0.5% per deal, permitting us to make income from our Vital Strategy whilst staying much cheaper than other prepaid cards and high-street debit cards. We also charge an FX markup on ATM use over the totally free amount on all our plans, complete information can be found on our rates plans.

Subscription costs.
We charge an annual subscription cost of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Strategy. The membership cost also eliminates all FX markup on deals.

Interchange.
Every time you invest with your card we get a little % of the transaction, referred to as interchange, this comes directly from the merchant and will not be charged to you. Booking Com Currensea Card