Currensea Max Card Payment – Best Travel Cards

A new fintech business which I was introduced to earlier this year. Currensea Max Card Payment…

It has won a few awards over recent months for what it does (using you an affordable method to invest abroad) but what I like about  is that it is simple as hell. This is an advantage.

is, effectively, 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 spend as you would on a typical debit card and the cash is taken from your current account– simply without the normal 3% cost.

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

There are likewise some intriguing travel advantages if you pick a paid strategy, however the totally free strategy works fine. You can apply here.

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

launch by doing one thing well, and free of charge or less expensive than the competition
include a growing number of functions which your existing consumers do not truly require or want

add charges, restrictions or charges 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 ideally stay there. Revolut, monzo and curve are currently in Phase 3 …
is simple enough that it passes my ‘Can you discuss it to your mate in the bar in 30 seconds?’ test:

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

Nevertheless, charge card which provide rewards and charge 0% FX charges are rare. The only ‘points and miles’ choices which offer a partial service 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 credit card offering 0% FX charges and do not wish to impact your credit report by getting another charge card particularly to use abroad
you desire a product which allows you to make �,� 500 of foreign currency ATM withdrawals monthly with no costs and only a very little FX mark-up (there is a little fee beyond �,� 500).
you want an item 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 cash when taking a trip.

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

You make your purchase in local currency (any currency, globally).
Your bank account bank automatically verifies that you have enough 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. includes a 0.5% cost if you have the free card. There are no costs if you have one of their paid cards.
You get an automatic invest notice via the app, if you choose to install it.
The money is taken from your current account a few days later on.
Here is an example. With no foreign travel in the diary, I chose to sprinkle out and buy 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 few days later on:.

Converting pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daytime burglary that is just about to take place (often in a various language) while not telling you about the expensive currency conversion costs occurring in the background. Don’t get me began. Anyhow back to the positives for a bit anyway.

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

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

What this implies is you can spend money you have in your existing bank account with less stress over lacking cash and the additional step. That does not suggest it is perfect.

In this Currensea review is the excellent, the bad, the awful 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 Important Plan of 0.5% per transaction, allowing us to make income from our Essential Strategy whilst remaining much cheaper than other prepaid cards and high-street debit cards. We likewise charge an FX markup on ATM use over the free quantity on all our strategies, complete details can be found on our prices strategies.

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

Interchange.
Whenever you invest with your card we get a small % of the deal, referred to as interchange, this comes directly from the merchant and will not be charged to you. Currensea Max Card Payment