Fitbit Currensea Card – Best Travel Cards

A brand-new fintech business which I was presented to earlier this year. Fitbit Currensea Card…

It has actually won a few awards over recent months for what it does (using you an inexpensive method to spend abroad) but what I like about  is that it is easy as hell. This is a good idea.

is, successfully, a direct debit travel card. It is a Mastercard which sits in between you and your existing current account. There is absolutely nothing to top-up or prepay. You simply invest as you would on a regular debit card and the cash is drawn from your current account– simply without the usual 3% fee.

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

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

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

launch by doing one thing well, and for free or cheaper than the competitors
include increasingly more features which your existing customers don’t really want or need

add charges, fees or restrictions to the function that made individuals get your product in the first place, getting rid of any competitive advantage
is presently still in Phase 1 of this process and will ideally stay there. Monzo, revolut and curve are already in Stage 3 …
is easy enough that it passes my ‘Can you explain it to your mate in the club 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 fees, then you do not need a  card, unless you want complimentary ATM withdrawals. You can stop checking out now.

Credit cards which use benefits and charge 0% FX costs are couple of and far in between. The only ‘miles and points’ options which provide a partial service 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 charge card offering 0% FX fees and do not want to affect your credit report by getting another charge card specifically to use abroad
you desire an item which allows you to make �,� 500 of foreign currency ATM withdrawals each month without any charges and just a very little FX mark-up (there is a small charge beyond �,� 500).
you want an item for you, your adult children, moms and dads, partner or anyone else in your life who needs an easy, easy to understand payment card that will conserve them cash when travelling.

How does  operate in practice?
It is, as I stated earlier, an extremely basic 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 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 on the currency. If you have the free card,  includes a 0.5% fee. There are no fees if you have one of their paid cards.
You get an automatic spend alert through the app, if you select to install it.
The cash is drawn from your current account a couple of days later.
Here is an example. Without any foreign travel in the journal, I decided to sprinkle out and purchase 1,000 MeliaRewards points for EUR5.

This is what you see in the Currensea app, which shows �,� 4.33 scheduled to leave my HSBC account a couple of days later on:.

Converting pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daylight break-in that is almost to occur (frequently in a various language) while not telling you about the exorbitant currency conversion fees occurring in the background. Do not get me started. Anyway back to the positives for a bit anyway.

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

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

What this means is you can invest cash you have in your existing current account with less stress over running out of cash and the additional action. That does not indicate it is ideal.

In this Currensea review is the great, the bad, the ugly 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 Necessary Strategy of 0.5% per deal, enabling us to make income from our Vital 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 plans, full information can be found on our prices strategies.

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

Interchange.
Every time you spend with your card we get a little % of the deal, referred to as interchange, this comes straight from the merchant and will not be credited you. Fitbit Currensea Card