Currensea Junior Card Contactless – Best Travel Cards

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

It has won a few awards over current months for what it does (offering you an affordable method to spend abroad) but what I like about  is that it is easy as hell. This is a good thing.

is, successfully, a direct debit travel card. It is a Mastercard which sits between you and your existing current account. There is nothing to top-up or prepay. You just invest as you would on a typical debit card and the money is drawn from your bank account– simply without the usual 3% charge.

Oh, and  is totally free to make an application for, which likewise assists.

There are likewise some fascinating travel benefits if you pick a paid strategy, but the free strategy works fine. You can apply here.

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

launch by doing one thing well, and for free or less expensive than the competition
add more and more functions which your existing customers do not truly desire or require

add charges, fees or limitations to the feature that made people get your product in the first place, getting rid of any competitive advantage
is currently still in Phase 1 of this process and will ideally stay there. Revolut, curve and monzo are currently in Phase 3 …
is basic enough that it passes my ‘Can you discuss it to your mate in the bar in 30 seconds?’ test:

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

That’s it.

You don’t (yet …) make any airline company miles or points for utilizing it.

Why would I want to get a card?
If you have a charge card offering 0% forex charges, then you do not require a  card, unless you want totally free ATM withdrawals. You can stop reading now.

Credit cards which use benefits and charge 0% FX fees are few and far between. 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 fees and do not want to affect your credit report by getting another charge card particularly to utilize abroad
you want an item which permits you to make �,� 500 of foreign currency ATM withdrawals monthly without any fees and just a minimal FX mark-up (there is a little charge beyond �,� 500).
you desire 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 cash when taking a trip.

How does  operate in practice?
It is, as I stated earlier, an extremely easy procedure. You utilize your Currensea card in the same way as your existing debit card.

You make your purchase in regional currency (any currency, worldwide).
Your bank account bank automatically validates that you have adequate cash in your account and authorises the deal.
The transaction goes through at either the interbank rate or the Mastercard rate, depending on the currency. adds a 0.5% cost if you have the free card. If you have one of their paid cards, there are no costs.
You get an automated invest alert through the app, if you pick to install it.
The money is taken from your current account a couple of days later on.
Here is an example. Without any 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 arranged to leave my HSBC account a few days later:.

However converting pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daylight burglary that is almost to occur (frequently in a various language) while not telling you about the expensive currency conversion fees occurring in the background. Do not get me started. Anyway back to the positives for a bit anyway.

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

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

What this implies is you can spend cash you have in your existing current account with less worry about running out of money and the additional step. But that does not indicate it is perfect.

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

FX markup.
While our premium plans have no FX markup, we charge a small FX markup on our Essential Plan of 0.5% per transaction, enabling us to make income from our Important Strategy whilst staying much cheaper than other prepaid cards and high-street debit cards. We likewise charge an FX markup on ATM usage over the complimentary quantity on all our plans, full information can be found on our prices strategies.

Membership charges.
We charge a yearly membership cost of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Plan. The membership fee likewise gets rid of all FX markup on transactions.

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