Currensea Card Us – Best Travel Cards

A brand-new fintech company which I was presented to earlier this year. Currensea Card Us…

It has actually won a couple of awards over current months for what it does (using you an inexpensive way to spend abroad) however what I like about  is that it is easy as hell. This is an advantage.

is, effectively, a direct debit travel card. You merely invest as you would on a normal debit card and the money is taken from your existing account– simply without the normal 3% cost.

Oh, and  is totally free to look for, which likewise assists.

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

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

launch by doing something well, and free of charge or less expensive than the competition
include increasingly more functions which your existing customers don’t really need or desire

include charges, charges or limitations to the feature that made people get your item in the first place, removing any competitive advantage
is currently still in Phase 1 of this process and will ideally stay there. Curve, Revolut and Monzo are currently in Phase 3 …
is easy enough that it passes my ‘Can you describe it to your mate in the club in 30 seconds?’ test:

It is a totally free direct debit card to use abroad and which instantly 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 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 desire free ATM withdrawals. You can stop reading now.

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

IS possibly for you if:

you don’t have a charge card offering 0% FX fees and do not want to affect your credit report by getting another credit card particularly to utilize abroad
you want a product which allows 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 desire a product for you, your adult kids, moms and dads, partner or anybody else in your life who requires a simple, 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, a very easy 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 bank account bank automatically verifies 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% charge if you have the free card. There are no costs if you have one of their paid cards.
You get an automatic spend notification through the app, if you select to install it.
The cash is drawn from your bank account a couple of 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 reveals �,� 4.33 scheduled to leave my HSBC account a few days later on:.

But converting pounds was costly.

A pet peeve of mine is when ATMs forewarn you about the daytime break-in that is practically to take place (frequently in a different language) while not telling you about the expensive currency conversion costs happening in the background. Don’t get me started. Anyway back to the positives for a bit anyhow.

Thankfully in the last few years a handful of excellent travel debit cards have popped onto the scene … and like other terrific cards  assures huge cost savings (85%) and an excellent app.

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

What this implies is you can spend money you have in your existing current account with less stress over running out of cash and the additional step. That does not mean it is ideal.

In this Currensea review is the excellent, 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 small FX markup on our Necessary Strategy of 0.5% per transaction, allowing us to make income from our Vital Strategy whilst remaining much cheaper than other prepaid cards and high-street debit cards. We also charge an FX markup on ATM use over the free amount on all our plans, complete information can be found on our pricing strategies.

Subscription fees.
We charge a yearly membership fee of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Strategy. The membership charge also gets rid of all FX markup on transactions.

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