Countries I Can Use My Currensea Card – Best Travel Cards

A brand-new fintech business which I was presented to previously this year. Countries I Can Use My Currensea Card…

It has actually won a couple of awards over recent months for what it does (providing you an affordable method to invest abroad) however what I like about  is that it is simple as hell. This is a good thing.

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

Oh, and  is totally free to get, which likewise helps.

There are likewise some fascinating travel advantages if you choose a paid strategy, however the totally free plan works fine. You can apply here.

There is an organization model in fintech which Curve, Revolut, Monzo etc have all followed:

launch by doing something well, and totally free or cheaper than the competitors
include increasingly more features which your existing consumers don’t really need or desire

include charges, fees or limitations to the feature that made individuals get your item in the first place, removing any competitive advantage
is presently still in Phase 1 of this process and will hopefully stay there. Monzo, revolut and curve are currently in Stage 3 …
is basic 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 immediately charges all purchases to your existing bank account in Sterling, less a little 0.5% fee.

That’s it.

You do not (yet …) make 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 want free ATM withdrawals. You can stop checking out now.

However, credit cards which provide benefits and charge 0% FX costs are few and far between. The only ‘miles and points’ choices which offer a partial option are the Virgin Atlantic charge card which have 0% FX fees in the Euro zone.

IS perhaps for you if:

you don’t have a credit card offering 0% FX charges and do not want to impact your credit report by getting another credit card particularly to use abroad
you want an item which permits you to make �,� 500 of foreign currency ATM withdrawals monthly with no fees and just a minimal FX mark-up (there is a small fee beyond �,� 500).
you desire an item for you, your adult children, moms and dads, partner or anybody else in your life who needs a basic, easy to understand payment card that will conserve them money when travelling.

How does  operate in practice?
It is, as I said previously, an extremely simple procedure. 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 bank account bank immediately verifies that you have enough cash in your account and authorises the transaction.
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 automated spend notification by means of the app, if you pick to install it.
The cash is taken from your bank account a few days later on.
Here is an example. Without any foreign travel in the diary, I chose to splash out and buy 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 on:.

However transforming pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daytime robbery that is almost to take place (frequently in a various language) while not telling you about the exorbitant currency conversion costs taking place in the background. Do not get me began. Anyway back to the positives for a bit anyway.

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

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

What this suggests is you can spend cash you have in your existing bank account with less fret about running out of money and the extra step. But that does not suggest it is perfect.

In this Currensea review is the good, the bad, the unsightly 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 Strategy of 0.5% per deal, permitting us to make profits from our Necessary Plan whilst staying much cheaper than other prepaid cards and high-street debit cards. We also charge an FX markup on ATM usage over the complimentary amount on all our plans, complete details can be discovered on our pricing plans.

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

Interchange.
Whenever you spend with your card we get a small % of the transaction, referred to as interchange, this comes directly from the merchant and will not be charged to you. Countries I Can Use My Currensea Card