Currensea Debit Card Limit – Best Travel Cards

A new fintech company which I was introduced to earlier this year. Currensea Debit Card Limit…

It has won a few awards over recent months for what it does (providing 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. You merely spend as you would on a typical debit card and the money is taken from your existing account– just without the typical 3% charge.

Oh, and  is complimentary to obtain, which also helps.

There are also some interesting travel advantages if you pick a paid strategy, but the complimentary plan works fine. You can apply here.

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

launch by doing one thing well, and totally free or more affordable than the competitors
add a growing number of functions which your existing customers do not actually require or want

include charges, limitations or charges to the feature 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 hopefully remain there. Revolut, curve and monzo are currently in Stage 3 …
is easy enough that it passes my ‘Can you describe it to your mate in the pub in 30 seconds?’ test:

It is a free direct debit card to utilize abroad and which automatically recharges all purchases to your existing bank account in Sterling, less a small 0.5% fee.

That’s it.

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

Why would I want to get a card?
If you have a charge card offering 0% foreign exchange fees, then you don’t need a  card, unless you desire complimentary ATM withdrawals. You can stop checking out now.

Credit cards which offer benefits and charge 0% FX fees are few and far between. The only ‘points and miles’ choices which offer a partial solution 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 costs and do not wish to impact your credit report by getting another charge card specifically to utilize abroad
you want an item which allows you to make �,� 500 of foreign currency ATM withdrawals per month without any fees and only a minimal FX mark-up (there is a little cost beyond �,� 500).
you want a product for you, your adult children, parents, partner or anybody else in your life who needs a basic, easy to understand payment card that will save them money when travelling.

How does  work in practice?
It is, as I said earlier, an extremely easy process. 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 current account bank immediately verifies that you have sufficient 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. If you have the complimentary card,  includes a 0.5% fee. There are no costs if you have among their paid cards.
You get an automated spend notice by means of the app, if you select to install it.
The cash is drawn from your bank account a couple of days later.
Here is an example. Without any foreign travel in the journal, I decided to sprinkle out and purchase 1,000 MeliaRewards points for EUR5.

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

But transforming pounds was costly.

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 exorbitant currency conversion costs taking place in the background. Do not get me started. Anyway back to the positives for a bit anyway.

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

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

What this indicates is you can invest cash you have in your existing bank account with less fret about lacking money and the additional step. But that does not imply it is best.

In this Currensea review is the good, the bad, the ugly and the options, so that you can decide.

FX markup.
While our premium strategies have no FX markup, we charge a nominal FX markup on our Important Plan of 0.5% per deal, permitting us to make earnings from our Essential Plan whilst remaining more affordable than other pre-paid cards and high-street debit cards. We likewise charge an FX markup on ATM use over the complimentary amount on all our plans, full details can be discovered on our pricing strategies.

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

Interchange.
Each time you invest with your card we get a little % of the transaction, known as interchange, this comes directly from the merchant and will not be credited you. Currensea Debit Card Limit