Currensea Vs Halifax Clarity – Best Travel Cards

A new fintech business which I was introduced to earlier this year. Currensea Vs Halifax Clarity…

It has won a few awards over current months for what it does (offering you a low-cost way to spend abroad) however what I like about  is that it is simple as hell. This is a good idea.

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

Oh, and  is totally free to look for, which likewise helps.

There are also some interesting travel benefits if you select a paid plan, however the complimentary strategy works fine. You can use here.

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

launch by doing something well, and free of charge or cheaper than the competitors
add more and more functions which your existing customers do not really desire or need

include charges, charges or restrictions to the feature that made individuals get your item in the first place, eliminating any competitive advantage
is currently still in Phase 1 of this process and will hopefully stay there. Curve, Revolut and Monzo are already in Phase 3 …
is basic enough that it passes my ‘Can you discuss it to your mate in the pub in 30 seconds?’ test:

It is a complimentary 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 want to get a card?
If you have a credit card offering 0% forex costs, then you don’t require a  card, unless you want totally free ATM withdrawals. You can stop checking out now.

Credit cards which offer benefits and charge 0% FX charges are few and far in between. The only ‘points and miles’ choices which provide a partial service are the Virgin Atlantic credit cards which have 0% FX costs in the Euro zone.

IS potentially for you if:

you don’t have a credit card offering 0% FX charges and do not want to impact your credit report by getting another credit card particularly to utilize abroad
you desire a product which permits 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 little cost beyond �,� 500).
you want a product for you, your adult children, moms and dads, partner or anyone else in your life who needs a simple, easy to understand payment card that will save them money when travelling.

How does  work in practice?
It is, as I stated earlier, an extremely basic 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 current account bank automatically verifies 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% charge if you have the free card. There are no costs if you have among their paid cards.
You get an automatic spend notice via the app, if you choose to install it.
The money is drawn from your current account a few days later.
Here is an example. Without any foreign travel in the diary, 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 on:.

Transforming pounds was costly.

A pet peeve of mine is when ATMs forewarn you about the daylight burglary that is just about to occur (often in a different language) while not telling you about the inflated currency conversion charges taking place in the background. Do not get me started. Anyway back to the positives for a bit anyway.

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

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

What this suggests is you can spend money you have in your existing current account with less stress over lacking money and the additional action. That does not mean it is perfect.

In this Currensea review is the great, 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 nominal FX markup on our Important Strategy of 0.5% per transaction, permitting us to make income from our Important Strategy whilst remaining more affordable than other prepaid cards and high-street debit cards. We likewise charge an FX markup on ATM usage over the totally free quantity on all our strategies, full information can be found on our rates plans.

Subscription fees.
We charge a yearly membership fee of �,� 25 for our Premium Plan, and �,� 120 for our Elite Strategy. The subscription charge also eliminates all FX markup on transactions.

Interchange.
Each time you invest with your card we get a small % of the deal, called interchange, this comes straight from the merchant and will not be charged to you. Currensea Vs Halifax Clarity