Can I Use My Currensea Card In The Uk – Best Travel Cards

A new fintech company which I was introduced to earlier this year. Can I Use My Currensea Card In The Uk…

It has won a few awards over current months for what it does (providing you a low-cost method to spend abroad) but what I like about  is that it is simple as hell. This is a good idea.

is, effectively, a direct debit travel card. You just spend as you would on a regular debit card and the money is taken from your current account– just without the normal 3% cost.

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

There are likewise some interesting travel benefits if you choose a paid plan, however the free plan works fine. You can apply here.

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

launch by doing one thing well, and free of charge or less expensive than the competition
include more and more features which your existing consumers don’t actually want or require

include costs, limitations or charges to the feature that made individuals get your item in the first place, getting rid of any competitive advantage
is currently still in Stage 1 of this process and will hopefully remain there. Curve, Revolut and Monzo are already 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 free direct debit card to utilize abroad and which automatically recharges all purchases to your existing current account in Sterling, less a small 0.5% cost.

That’s it.

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

Why would I wish to get a card?
If you have a credit card offering 0% foreign exchange fees, then you don’t need a  card, unless you desire totally free ATM withdrawals. You can stop reading now.

Nevertheless, credit cards which offer rewards and charge 0% FX charges are few and far between. The only ‘miles and points’ choices which use a partial option are the Virgin Atlantic credit cards which have 0% FX charges 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 impact your credit report by getting another credit card particularly to utilize abroad
you want a product which permits you to make �,� 500 of foreign currency ATM withdrawals monthly without any charges and only a minimal FX mark-up (there is a small cost 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 travelling.

How does  work in practice?
It is, as I stated 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, globally).
Your current account bank immediately confirms 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 upon the currency. includes a 0.5% cost if you have the totally free card. If you have one of their paid cards, there are no fees.
You get an automatic spend notice by means of the app, if you select to install it.
The money is drawn from your bank account a few days later.
Here is an example. Without any foreign travel in the journal, I chose to sprinkle out and purchase 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 couple of days later:.

Converting pounds was costly.

A pet peeve of mine is when ATMs forewarn you about the daytime robbery that is just about to happen (frequently in a various language) while not telling you about the expensive currency conversion fees occurring in the background. Don’t get me began. Anyway back to the positives for a bit anyway.

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

However I believe the very best bit might be what no other card does: links to your existing high street checking account.

What this means is you can invest cash you have in your existing bank account with less fret about running out of money and the additional step. But that does not imply it is ideal.

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

FX markup.
While our premium plans have no FX markup, we charge a nominal FX markup on our Necessary Plan of 0.5% per deal, enabling us to make revenue from our Important Plan whilst staying much cheaper than other pre-paid cards and high-street debit cards. We also charge an FX markup on ATM usage over the free amount on all our plans, complete details can be discovered on our pricing strategies.

Subscription costs.
We charge a yearly subscription cost of �,� 25 for our Premium Plan, and �,� 120 for our Elite Strategy. The membership cost also gets rid of all FX markup on transactions.

Interchange.
Every time you invest with your card we receive a small % of the deal, known as interchange, this comes straight from the merchant and won’t be credited you. Can I Use My Currensea Card In The Uk