Currensea Standard Card Free Delivery – Best Travel Cards

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

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

is, efficiently, 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 simply spend as you would on a typical debit card and the money is drawn from your bank account– just without the typical 3% charge.

Oh, and  is totally free to obtain, which likewise helps.

There are also some fascinating travel advantages if you select a paid strategy, but the complimentary strategy works fine. You can apply here.

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

launch by doing one thing well, and free of charge or more affordable than the competition
add more and more functions which your existing customers do not really need or desire

include limitations, charges or costs to the feature that made people get your item in the first place, getting rid of any competitive advantage
is currently still in Phase 1 of this process and will hopefully remain there. Curve, monzo and revolut are currently in Stage 3 …
is basic enough that it passes my ‘Can you describe it to your mate in the bar in 30 seconds?’ test:

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

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% foreign exchange fees, then you don’t require a  card, unless you want free ATM withdrawals. You can stop checking out now.

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

IS possibly for you if:

you do not have a charge card offering 0% FX fees and do not wish to impact your credit report by getting another credit card particularly to utilize abroad
you desire an item which allows you to make �,� 500 of foreign currency ATM withdrawals each month with no charges and just a very little FX mark-up (there is a small fee beyond �,� 500).
you desire a product for you, your adult kids, parents, partner or anyone else in your life who requires an easy, easy to understand payment card that will conserve them money when travelling.

How does  work in practice?
It is, as I said earlier, a very simple 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 bank account bank automatically verifies that you have adequate cash in your account and authorises the transaction.
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% fee. If you have one of their paid cards, there are no charges.
You get an automatic invest notice by means of the app, if you choose to install it.
The cash is taken from your current account a couple of days later.
Here is an example. Without any foreign travel in the journal, 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 couple of days later on:.

But transforming pounds was expensive.

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

Thankfully in the last few years a handful of excellent travel debit cards have actually popped onto the scene … and like other terrific cards  guarantees big savings (85%) and an excellent app.

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

What this indicates is you can invest cash you have in your existing bank account with less stress over running out of cash and the extra action. That does not suggest it is ideal.

In this Currensea review is the great, 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 Essential Plan of 0.5% per transaction, allowing us to make profits from our Necessary Plan whilst remaining much cheaper than other prepaid cards and high-street debit cards. We likewise charge an FX markup on ATM usage over the complimentary amount on all our strategies, complete details can be found on our rates strategies.

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

Interchange.
Whenever you spend with your card we get a small % of the deal, referred to as interchange, this comes directly from the merchant and won’t be credited you. Currensea Standard Card Free Delivery