Card Currensea Pareri – Best Travel Cards

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

It has actually won a few awards over recent months for what it does (using you an affordable method to spend abroad) but what I like about  is that it is basic as hell. This is a good idea.

is, effectively, a direct debit travel card. You just invest as you would on a normal debit card and the money is taken from your existing account– just without the usual 3% charge.

Oh, and  is totally free to make an application for, which likewise assists.

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

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

launch by doing something well, and totally free or cheaper than the competition
include increasingly more functions which your existing clients do not truly need or want

include restrictions, costs or charges to the feature that made individuals get your item in the first place, eliminating any competitive advantage
is currently still in Stage 1 of this procedure and will hopefully remain there. Revolut, monzo and curve are currently in Stage 3 …
is easy enough that it passes my ‘Can you discuss it to your mate in the club in 30 seconds?’ test:

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

That’s it.

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

Why would I want to get a card?
If you have a charge card offering 0% foreign exchange charges, then you do not need a  card, unless you want complimentary ATM withdrawals. You can stop checking out now.

Nevertheless, credit cards which use benefits and charge 0% FX charges are few and far between. The only ‘miles and points’ alternatives which provide a partial option are the Virgin Atlantic credit cards which have 0% FX fees in the Euro zone.

IS perhaps for you if:

you do not have a charge card offering 0% FX fees and do not want to affect your credit report by getting another charge card particularly 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 desire a product for you, your adult children, parents, partner or anyone else in your life who requires an easy, easy to understand payment card that will save them cash when travelling.

How does  work in practice?
It is, as I said earlier, a really easy process. You utilize your Currensea card in the same way as your existing debit card.

You make your purchase in regional currency (any currency, globally).
Your bank account bank instantly confirms that you have sufficient 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% cost if you have the free card. If you have one of their paid cards, there are no costs.
You get an automatic spend alert through the app, if you pick to install it.
The money is drawn from your current account a couple of days later.
Here is an example. Without any foreign travel in the diary, I decided to sprinkle out and purchase 1,000 MeliaRewards points for EUR5.

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

But transforming pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daytime robbery that is almost to occur (frequently in a various language) while not telling you about the inflated currency conversion costs occurring in the background. Do not get me began. Anyhow 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 fantastic cards Currensea guarantees big cost savings (85%) and an excellent app.

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

What this suggests is you can invest money you have in your existing bank account with less worry about running out of cash and the additional step. That does not mean it is perfect.

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

FX markup.
While our premium plans have no FX markup, we charge a nominal FX markup on our Essential Strategy of 0.5% per transaction, allowing us to make revenue from our Essential Strategy whilst staying more affordable than other prepaid cards and high-street debit cards. We likewise charge an FX markup on ATM use over the free amount on all our strategies, full details can be found on our pricing strategies.

Membership charges.
We charge an annual subscription cost of �,� 25 for our Premium Plan, and �,� 120 for our Elite Strategy. The membership charge also removes all FX markup on deals.

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