Can I Use My Currensea Card In Lloyds – Best Travel Cards

A new fintech company which I was presented to earlier this year. Can I Use My Currensea Card In Lloyds…

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

is, efficiently, a direct debit travel card. You just spend as you would on a typical debit card and the money is taken from your current account– just without the usual 3% charge.

Oh, and  is complimentary to look for, which also assists.

There are also some intriguing travel benefits if you select a paid strategy, but the free strategy works fine. You can apply 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
add increasingly more features which your existing consumers don’t really need or want

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

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

That’s it.

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

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

Nevertheless, charge card which use benefits and charge 0% FX costs are rare. The only ‘points and miles’ choices which offer a partial service are the Virgin Atlantic credit cards which have 0% FX costs in the Euro zone.

IS perhaps for you if:

you don’t have a charge card offering 0% FX fees and do not want to affect your credit report by getting another charge card specifically to utilize abroad
you desire a product which enables you to make �,� 500 of foreign currency ATM withdrawals monthly without any charges and only a minimal FX mark-up (there is a little charge beyond �,� 500).
you want an item for you, your adult kids, parents, partner or anyone else in your life who requires a simple, easy to understand payment card that will conserve them cash when travelling.

How does  operate in practice?
It is, as I said earlier, a really basic process. 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 bank account bank immediately validates that you have enough money 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 complimentary card,  adds a 0.5% fee. If you have one of their paid cards, there are no charges.
You get an automatic spend notification by means of the app, if you select to install it.
The cash is taken from your bank account a couple of days later on.
Here is an example. With no foreign travel in the journal, I decided to splash out and purchase 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:.

But converting pounds was costly.

A pet peeve of mine is when ATMs forewarn you about the daylight break-in that is just about to happen (often in a different language) while not telling you about the inflated currency conversion costs occurring in the background. Don’t get me began. Anyway back to the positives for a bit anyhow.

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

I believe 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 money you have in your existing bank account with less worry about lacking money and the extra action. However that does not suggest it is best.

In this Currensea review 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 Vital Plan of 0.5% per deal, allowing us to make revenue from our Vital Plan whilst remaining more affordable than other prepaid cards and high-street debit cards. We also charge an FX markup on ATM usage over the complimentary quantity on all our strategies, full details can be discovered on our pricing strategies.

Membership charges.
We charge a yearly membership fee of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Strategy. The membership charge also removes all FX markup on transactions.

Interchange.
Every time you spend with your card we receive a little % of the transaction, referred to as interchange, this comes straight from the merchant and won’t be credited you. Can I Use My Currensea Card In Lloyds