Currensea Stolen Card – Best Travel Cards

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

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

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

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

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

There is an organization model 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 competitors
add a growing number of functions which your existing clients do not truly require or desire

add restrictions, charges or charges to the feature that made individuals get your product in the first place, getting rid of any competitive advantage
is currently still in Phase 1 of this process and will hopefully stay there. Monzo, revolut and curve are already in Phase 3 …
is simple enough that it passes my ‘Can you explain it to your mate in the bar in 30 seconds?’ test:

It is a totally free direct debit card to utilize abroad and which immediately recharges all purchases to your existing bank account in Sterling, less a small 0.5% fee.

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% forex fees, then you do not require a  card, unless you want complimentary ATM withdrawals. You can stop reading now.

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

IS possibly for you if:

you don’t have a credit card offering 0% FX fees and do not wish to impact your credit report by getting another credit card specifically to utilize abroad
you want a product which enables you to make �,� 500 of foreign currency ATM withdrawals each month without any fees and just a very little FX mark-up (there is a small cost beyond �,� 500).
you desire a product for you, your adult children, moms and dads, partner or anyone else in your life who needs a basic, easy to understand payment card that will conserve them money when travelling.

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

You make your purchase in regional currency (any currency, internationally).
Your current account bank instantly confirms 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 on the currency. If you have the free card,  adds a 0.5% charge. There are no fees if you have one of their paid cards.
You get an automated invest notification through the app, if you pick to install it.
The money is drawn from your bank account a couple of days later on.
Here is an example. With no foreign travel in the journal, I chose to sprinkle out and purchase 1,000 MeliaRewards points for EUR5.

This is what you see in the Currensea app, which reveals �,� 4.33 arranged to leave my HSBC account a few days later:.

But transforming pounds was costly.

A pet peeve of mine is when ATMs forewarn you about the daylight break-in that is practically to take place (often in a various language) while not telling you about the outrageous currency conversion charges occurring in the background. Do not get me began. Anyhow back to the positives for a bit anyway.

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

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

What this implies is you can invest money you have in your existing current account with less stress over running out of cash and the extra step. But that does not suggest it is perfect.

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

FX markup.
While our premium strategies have no FX markup, we charge a small FX markup on our Necessary Plan of 0.5% per transaction, permitting us to make earnings from our Essential Plan whilst staying more affordable than other prepaid cards and high-street debit cards. We also charge an FX markup on ATM use over the complimentary quantity on all our plans, full information can be found on our rates plans.

Membership charges.
We charge an annual subscription fee of �,� 25 for our Premium Plan, and �,� 120 for our Elite Plan. The subscription fee also eliminates all FX markup on transactions.

Interchange.
Every time you invest with your card we receive a little % of the deal, referred to as interchange, this comes straight from the merchant and will not be charged to you. Currensea Stolen Card