Currensea Junior Card Cost – Best Travel Cards

A brand-new fintech business which I was introduced to earlier this year. Currensea Junior Card Cost…

It has actually won a couple of awards over recent months for what it does (providing you an inexpensive method to invest abroad) however what I like about  is that it is basic as hell. This is an advantage.

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

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

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

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

launch by doing one thing well, and totally free or cheaper than the competition
add increasingly more functions which your existing customers don’t actually desire or need

add charges, limitations or costs to the function that made individuals get your product in the first place, eliminating any competitive advantage
is currently still in Stage 1 of this process and will ideally stay there. Revolut, monzo and curve 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 use abroad and which immediately 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 utilizing it.

Why would I wish to get a card?
If you have a credit card offering 0% foreign exchange costs, then you do not need a  card, unless you want complimentary ATM withdrawals. You can stop reading now.

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

IS possibly for you if:

you do not have a credit card offering 0% FX charges and do not wish to impact your credit report by getting another credit card specifically to use abroad
you desire an item which permits you to make �,� 500 of foreign currency ATM withdrawals each month without any costs and only a very little FX mark-up (there is a small fee beyond �,� 500).
you desire an item for you, your adult children, parents, partner or anyone else in your life who requires a simple, easy to understand payment card that will conserve them money when travelling.

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

You make your purchase in regional currency (any currency, globally).
Your bank account bank instantly confirms that you have sufficient money in your account and authorises the transaction.
The deal goes through at either the interbank rate or the Mastercard rate, depending upon the currency. If you have the free card,  adds a 0.5% fee. If you have one of their paid cards, there are no costs.
You get an automatic spend notice by means of the app, if you choose to install it.
The money is taken from your current account a couple of days later.
Here is an example. With no foreign travel in the diary, 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 set up to leave my HSBC account a couple of days later on:.

Transforming pounds was expensive.

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

Fortunately recently a handful of terrific travel debit cards have actually popped onto the scene … and like other great cards  promises big cost savings (85%) and a terrific app.

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

What this indicates is you can spend money you have in your existing bank account with less stress over lacking money and the extra action. That does not suggest it is ideal.

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

FX markup.
While our premium strategies have no FX markup, we charge a nominal FX markup on our Essential Plan of 0.5% per transaction, allowing us to make revenue from our Vital Strategy whilst staying much cheaper than other pre-paid cards and high-street debit cards. We also charge an FX markup on ATM usage over the free amount on all our plans, full details can be discovered on our prices plans.

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

Interchange.
Every time you invest with your card we get a small % of the deal, called interchange, this comes directly from the merchant and won’t be credited you. Currensea Junior Card Cost