Currensea Get Free Card – Best Travel Cards

A new fintech company which I was presented to earlier this year. Currensea Get Free Card…

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

is, successfully, a direct debit travel card. You simply invest as you would on a normal debit card and the cash is taken from your current account– just without the normal 3% cost.

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

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

There is a business design in fintech which Curve, Revolut, Monzo etc have actually all followed:

launch by doing one thing well, and for free or cheaper than the competition
include more and more features which your existing customers do not truly want or need

include charges, restrictions or costs to the feature that made people get your product in the first place, removing any competitive advantage
is presently still in Phase 1 of this procedure and will hopefully stay there. Monzo, curve and revolut are already in Stage 3 …
is easy enough that it passes my ‘Can you discuss it to your mate in the pub in 30 seconds?’ test:

It is a free direct debit card to utilize abroad and which automatically 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 want to get a card?
If you have a charge card offering 0% forex costs, then you don’t need a  card, unless you desire free ATM withdrawals. You can stop checking out now.

Nevertheless, charge card which provide benefits and charge 0% FX costs are few and far between. The only ‘miles and points’ alternatives which provide a partial solution are the Virgin Atlantic credit cards which have 0% FX fees in the Euro zone.

IS potentially for you if:

you do not have a charge card offering 0% FX fees and do not want to affect your credit report by getting another charge card particularly to use abroad
you want a product which permits you to make �,� 500 of foreign currency ATM withdrawals each month without any costs and only a minimal FX mark-up (there is a small charge beyond �,� 500).
you desire an item for you, your adult kids, moms and dads, partner or anyone else in your life who needs a simple, easy to understand payment card that will save them money when travelling.

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

You make your purchase in regional currency (any currency, worldwide).
Your current account bank instantly validates that you have enough 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,  includes a 0.5% cost. If you have one of their paid cards, there are no costs.
You get an automatic invest notification by means of the app, if you pick to install it.
The money is taken from your bank account a couple of days later on.
Here is an example. Without any foreign travel in the diary, I decided to sprinkle out and buy 1,000 MeliaRewards points for EUR5.

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

However converting pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daylight robbery that is practically to occur (frequently in a various language) while not telling you about the exorbitant currency conversion costs taking place in the background. Don’t get me started. Anyhow back to the positives for a bit anyway.

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

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

What this indicates is you can invest cash 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 good, the bad, the ugly and the options, so that you can choose.

FX markup.
While our premium plans have no FX markup, we charge a nominal FX markup on our Essential Plan of 0.5% per deal, enabling us to make income from our Necessary 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 free amount on all our strategies, full information can be discovered on our prices strategies.

Subscription fees.
We charge a yearly subscription fee of �,� 25 for our Premium Plan, and �,� 120 for our Elite Plan. The subscription cost likewise removes all FX markup on transactions.

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