Currensea Glow Card – Best Travel Cards

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

It has actually won a couple of awards over recent months for what it does (using 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 simply spend as you would on a normal debit card and the cash is taken from your present account– just without the typical 3% charge.

Oh, and  is totally free to look for, which also helps.

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

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

launch by doing something well, and for free or more affordable than the competitors
include a growing number of functions which your existing customers don’t truly need or desire

include restrictions, charges or charges to the function 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 hopefully stay there. Curve, Revolut and Monzo are currently in Stage 3 …
is simple enough that it passes my ‘Can you discuss it to your mate in the pub 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% fee.

That’s it.

You do not (yet …) make any airline miles or points for utilizing it.

Why would I wish to get a card?
If you have a charge card offering 0% forex costs, then you don’t require a  card, unless you desire totally free ATM withdrawals. You can stop reading now.

However, charge card which provide rewards and charge 0% FX fees are scarce. The only ‘miles and points’ options which offer a partial service are the Virgin Atlantic charge card which have 0% FX fees in the Euro zone.

IS perhaps for you if:

you do not have a charge card offering 0% FX charges and do not wish to affect your credit report by getting another credit card particularly to utilize abroad
you want an item which enables you to make �,� 500 of foreign currency ATM withdrawals per month with no costs and just a very little FX mark-up (there is a small charge beyond �,� 500).
you want an item for you, your adult kids, moms and dads, partner or anybody else in your life who needs a basic, easy to understand payment card that will save them money when taking a trip.

How does  work in practice?
It is, as I stated earlier, an extremely easy procedure. 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 current account bank instantly verifies that you have adequate money in your account and authorises the deal.
The transaction goes through at either the interbank rate or the Mastercard rate, depending on the currency. If you have the totally free card,  includes a 0.5% fee. If you have one of their paid cards, there are no costs.
You get an automated spend notice through the app, if you choose to install it.
The cash is drawn from your current account a few days later.
Here is an example. With no foreign travel in the journal, 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 set up to leave my HSBC account a couple of days later on:.

But transforming pounds was costly.

A pet peeve of mine is when ATMs forewarn you about the daylight burglary that is practically to occur (typically in a different language) while not telling you about the expensive currency conversion costs happening in the background. Do not get me began. Anyway back to the positives for a bit anyway.

In current 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 an excellent app.

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

What this suggests is you can spend cash you have in your existing bank account with less worry about lacking cash and the additional step. However that does not indicate it is perfect.

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

FX markup.
While our premium plans have no FX markup, we charge a nominal FX markup on our Necessary Plan of 0.5% per transaction, permitting us to make income from our Important Plan whilst remaining more affordable than other pre-paid cards and high-street debit cards. We also charge an FX markup on ATM usage over the totally free amount on all our plans, full information can be discovered on our prices plans.

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

Interchange.
Every time you invest with your card we receive a small % of the deal, known as interchange, this comes directly from the merchant and will not be credited you. Currensea Glow Card