Currensea Card ελλαδα РBest Travel Cards

A new fintech company which I was presented to previously this year. Currensea Card ŒµŒªŒªŒ±Œ¥Œ±…

It has won a few awards over recent months for what it does (offering you a low-cost way to spend abroad) however what I like about  is that it is easy as hell. This is an advantage.

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

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

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

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

launch by doing something well, and totally free or more affordable than the competition
add increasingly more functions which your existing clients don’t truly require or desire

add charges, constraints or charges to the function that made people get your product in the first place, eliminating any competitive advantage
is presently still in Phase 1 of this procedure and will ideally remain there. Curve, Revolut and Monzo are already in Phase 3 …
is basic 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 automatically charges all purchases to your existing bank account in Sterling, less a small 0.5% charge.

That’s it.

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

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

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

IS potentially for you if:

you do not have a charge card offering 0% FX charges and do not want to affect your credit report by getting another credit card particularly to use abroad
you want a product which allows you to make �,� 500 of foreign currency ATM withdrawals each month without any charges and just a minimal FX mark-up (there is a small cost beyond �,� 500).
you desire a product for you, your adult children, moms and dads, partner or anyone else in your life who requires a simple, 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 basic process. You use your Currensea card in the same way as your existing debit card.

You make your purchase in local currency (any currency, worldwide).
Your bank account bank immediately verifies that you have adequate cash in your account and authorises the deal.
The transaction goes through at either the interbank rate or the Mastercard rate, depending upon the currency. If you have the free card,  adds a 0.5% cost. There are no fees if you have among their paid cards.
You get an automatic spend notice via the app, if you choose to install it.
The money is drawn from your bank account a few days later on.
Here is an example. With no foreign travel in the journal, I chose to splash 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 couple of days later on:.

Transforming pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daytime break-in that is practically to occur (typically in a different language) while not telling you about the expensive currency conversion fees taking place in the background. Do not get me started. Anyway back to the positives for a bit anyway.

Thankfully in recent years a handful of fantastic travel debit cards have actually popped onto the scene … and like other terrific cards  promises big savings (85%) and an excellent app.

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

What this implies is you can invest cash you have in your existing current account with less stress over lacking money and the extra step. But that does not indicate it is best.

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

FX markup.
While our premium strategies have no FX markup, we charge a small FX markup on our Important Strategy of 0.5% per deal, enabling us to make earnings from our Necessary Strategy whilst staying more affordable than other prepaid cards and high-street debit cards. We also charge an FX markup on ATM usage over the complimentary quantity on all our strategies, complete information can be discovered on our rates strategies.

Membership fees.
We charge an annual subscription cost of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Plan. The subscription charge also gets rid of all FX markup on transactions.

Interchange.
Every time you invest with your card we get a small % of the deal, referred to as interchange, this comes straight from the merchant and won’t be charged to you. Currensea Card ŒµŒªŒªŒ±Œ¥Œ±