Currensea Card Container – Best Travel Cards

A new fintech business which I was presented to earlier this year. Currensea Card Container…

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

is, effectively, a direct debit travel card. It is a Mastercard which sits between you and your existing bank account. There is nothing to top-up or prepay. You just spend as you would on a typical debit card and the money is taken from your current account– just without the typical 3% fee.

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

There are also some intriguing travel benefits if you choose a paid plan, however the free plan works fine. You can use here.

There is a business 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
include a growing number of features which your existing customers don’t actually desire or need

add charges, charges or limitations to the function that made individuals get your product in the first place, eliminating any competitive advantage
is presently still in Phase 1 of this procedure and will hopefully stay there. Monzo, revolut and curve are currently in Stage 3 …
is easy enough that it passes my ‘Can you explain it to your mate in the club in 30 seconds?’ test:

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

That’s it.

You don’t (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 don’t require a  card, unless you desire totally free ATM withdrawals. You can stop reading now.

Nevertheless, credit cards which offer benefits and charge 0% FX costs are few and far between. The only ‘points and miles’ choices which offer a partial service 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 costs and do not wish to affect your credit report by getting another charge card particularly to utilize abroad
you want a product which enables you to make �,� 500 of foreign currency ATM withdrawals monthly without any costs and just a minimal FX mark-up (there is a little fee beyond �,� 500).
you want 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 save them money when taking a trip.

How does  operate in practice?
It is, as I said earlier, an extremely simple process. You utilize your Currensea card in the same way as your existing debit card.

You make your purchase in local currency (any currency, internationally).
Your bank account bank automatically verifies that you have sufficient cash in your account and authorises the deal.
The transaction goes through at either the interbank rate or the Mastercard rate, depending on the currency. includes a 0.5% charge if you have the free card. If you have one of their paid cards, there are no charges.
You get an automated spend alert via the app, if you pick to install it.
The money is taken from your current account a few days later.
Here is an example. With no foreign travel in the diary, I chose to sprinkle 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 couple of days later on:.

However converting pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daytime break-in that is almost to happen (often in a different language) while not telling you about the outrageous currency conversion fees taking place in the background. Do not get me began. Anyway back to the positives for a bit anyhow.

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

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

What this means is you can invest money you have in your existing current account with less worry about lacking money and the extra step. That does not indicate it is best.

In this Currensea review is the excellent, the bad, the awful 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 Necessary Plan of 0.5% per transaction, enabling us to make profits from our Essential Strategy whilst remaining much cheaper than other prepaid cards and high-street debit cards. We likewise charge an FX markup on ATM usage over the free quantity on all our plans, complete information can be found on our prices strategies.

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

Interchange.
Each time you invest with your card we get a small % of the transaction, known as interchange, this comes directly from the merchant and will not be charged to you. Currensea Card Container