Commissioni Currensea Card – Best Travel Cards

A brand-new fintech business which I was introduced to earlier this year. Commissioni Currensea Card…

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

is, successfully, 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 normal debit card and the cash is taken from your current account– simply without the usual 3% fee.

Oh, and  is totally free to obtain, which likewise assists.

There are also some interesting travel advantages if you select a paid plan, but the totally free plan works fine. You can apply here.

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

launch by doing something well, and totally free or less expensive than the competitors
add more and more functions which your existing clients do not truly desire or require

include charges, restrictions or costs 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 hopefully stay there. Revolut, monzo and curve are already in Stage 3 …
is simple enough that it passes my ‘Can you explain it to your mate in the pub in 30 seconds?’ test:

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

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 charge card offering 0% forex fees, then you don’t need a  card, unless you want free ATM withdrawals. You can stop reading now.

Credit cards which offer rewards and charge 0% FX fees are couple of and far in between. The only ‘miles and points’ options which offer a partial option are the Virgin Atlantic credit cards which have 0% FX costs in the Euro zone.

IS perhaps for you if:

you do not have a credit card offering 0% FX costs and do not want to impact your credit report by getting another credit card particularly to utilize abroad
you desire a product which enables you to make �,� 500 of foreign currency ATM withdrawals each month without any charges and only a very little FX mark-up (there is a little fee beyond �,� 500).
you desire a product for you, your adult kids, moms and dads, partner or anybody else in your life who requires a basic, easy to understand payment card that will conserve them money when taking a trip.

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

You make your purchase in regional currency (any currency, internationally).
Your current account bank immediately validates that you have sufficient cash in your account and authorises the deal.
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 totally free card. There are no costs if you have one of their paid cards.
You get an automatic invest notice via the app, if you pick to install it.
The cash is drawn from your bank account a few 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 shows �,� 4.33 arranged to leave my HSBC account a few days later:.

Converting pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daylight break-in that is almost 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 started. Anyhow back to the positives for a bit anyhow.

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

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

What this suggests is you can invest cash you have in your existing current account with less worry about lacking cash and the additional step. But that does not mean it is ideal.

In this Currensea evaluation is the good, the bad, the unsightly and the options, so that you can decide.

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

Subscription fees.
We charge a yearly subscription cost of �,� 25 for our Premium Plan, and �,� 120 for our Elite Plan. The subscription charge also eliminates all FX markup on deals.

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