Free Currensea Card 2019 – Best Travel Cards

A new fintech business which I was presented to previously this year. Free Currensea Card 2019…

It has won a few awards over current months for what it does (providing you a low-cost method to invest abroad) however what I like about  is that it is basic 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 bank account. There is 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 typical 3% charge.

Oh, and  is totally free to get, which also assists.

There are likewise some interesting travel benefits if you select a paid strategy, but the totally free strategy works fine. You can apply here.

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

launch by doing one thing well, and for free or less expensive than the competition
add increasingly more features which your existing clients do not truly want or need

include charges, limitations or costs to the feature that made people get your product in the first place, removing any competitive advantage
is currently still in Phase 1 of this process and will hopefully remain there. Curve, Revolut and Monzo are already in Stage 3 …
is basic 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 utilize abroad and which immediately recharges all purchases to your existing current account in Sterling, less a small 0.5% fee.

That’s it.

You don’t (yet …) make any airline miles or points for using 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 desire totally free ATM withdrawals. You can stop reading now.

Nevertheless, credit cards which use benefits and charge 0% FX costs are scarce. The only ‘miles and points’ options which use a partial service are the Virgin Atlantic credit cards which have 0% FX costs in the Euro zone.

IS perhaps for you if:

you do not have a credit card offering 0% FX charges and do not want to affect your credit report by getting another charge card particularly to utilize abroad
you want a product which permits you to make �,� 500 of foreign currency ATM withdrawals monthly without any charges and only a very little FX mark-up (there is a little charge beyond �,� 500).
you want a product for you, your adult children, parents, partner or anybody else in your life who requires an easy, easy to understand payment card that will save them cash when taking a trip.

How does  work in practice?
It is, as I stated previously, an extremely simple process. You utilize 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 immediately verifies that you have sufficient money in your account and authorises the deal.
The deal goes through at either the interbank rate or the Mastercard rate, depending upon the currency. If you have the complimentary card,  adds a 0.5% cost. There are no fees if you have among their paid cards.
You get an automated invest notification through the app, if you select to install it.
The money is drawn from your current account a few days later.
Here is an example. With no foreign travel in the diary, I decided to splash out and buy 1,000 MeliaRewards points for EUR5.

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

However converting pounds was pricey.

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

Fortunately recently a handful of great travel debit cards have actually popped onto the scene … and like other excellent cards  promises big cost savings (85%) and a terrific app.

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

What this indicates is you can spend money you have in your existing bank account with less fret about running out of money and the extra step. That does not imply it is best.

In this Currensea evaluation is the good, the bad, the ugly and the options, so that you can choose.

FX markup.
While our premium plans have no FX markup, we charge a nominal FX markup on our Necessary Strategy of 0.5% per transaction, allowing us to make profits from our Essential Plan whilst remaining much cheaper than other pre-paid cards and high-street debit cards. We likewise charge an FX markup on ATM usage over the free quantity on all our strategies, complete information can be found on our rates plans.

Membership charges.
We charge a yearly subscription fee of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Strategy. The membership charge likewise eliminates all FX markup on transactions.

Interchange.
Each time you invest with your card we get a small % of the deal, referred to as interchange, this comes straight from the merchant and won’t be charged to you. Free Currensea Card 2019