Currensea Card Trustpilot – Best Travel Cards

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

It has won a couple of awards over recent months for what it does (offering you an inexpensive method to invest abroad) but what I like about  is that it is basic as hell. This is a good thing.

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

Oh, and  is free to obtain, which likewise helps.

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

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

launch by doing something well, and totally free or more affordable than the competitors
include increasingly more functions which your existing consumers do not actually require or desire

add limitations, charges or costs to the function that made people 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. Monzo, curve and revolut are currently in Phase 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 free direct debit card to use abroad and which instantly charges all purchases to your existing current account in Sterling, less a small 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 costs, then you don’t need a  card, unless you desire complimentary ATM withdrawals. You can stop checking out now.

Nevertheless, charge card which use rewards and charge 0% FX charges are rare. The only ‘points and miles’ choices which offer a partial option are the Virgin Atlantic charge card which have 0% FX charges in the Euro zone.

IS perhaps for you if:

you do not have a credit card offering 0% FX costs and do not wish to impact your credit report by getting another credit card particularly to use abroad
you desire a product which permits you to make �,� 500 of foreign currency ATM withdrawals monthly with no fees and just a very little FX mark-up (there is a little charge beyond �,� 500).
you desire an item for you, your adult kids, parents, partner or anyone else in your life who needs a simple, 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 basic process. You utilize your Currensea card in the same way as your existing debit card.

You make your purchase in local currency (any currency, worldwide).
Your current account bank instantly validates that you have enough 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% charge if you have the complimentary card. If you have one of their paid cards, there are no fees.
You get an automated spend notice via the app, if you select to install it.
The cash is drawn from your current account a few days later on.
Here is an example. With no foreign travel in the journal, I chose to sprinkle out and buy 1,000 MeliaRewards points for EUR5.

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

Converting pounds was costly.

A pet peeve of mine is when ATMs forewarn you about the daylight burglary that is almost to happen (typically in a different language) while not telling you about the expensive currency conversion costs occurring in the background. Don’t get me started. Anyway back to the positives for a bit anyhow.

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

But 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 invest money you have in your existing bank account with less fret about lacking cash and the additional action. That does not suggest it is ideal.

In this Currensea evaluation is the good, 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 small FX markup on our Important Strategy of 0.5% per transaction, allowing us to make revenue from our Important Strategy whilst staying more affordable than other prepaid cards and high-street debit cards. We likewise charge an FX markup on ATM usage over the free amount on all our strategies, full information can be found on our pricing strategies.

Membership fees.
We charge a yearly subscription charge of �,� 25 for our Premium Plan, and �,� 120 for our Elite Strategy. The membership charge likewise removes all FX markup on deals.

Interchange.
Whenever you invest with your card we get a small % of the transaction, referred to as interchange, this comes straight from the merchant and won’t be credited you. Currensea Card Trustpilot