Free Currensea Card For Business – Best Travel Cards

A new fintech business which I was presented to earlier this year. Free Currensea Card For Business…

It has won a few awards over current months for what it does (using you an inexpensive way to spend abroad) however what I like about  is that it is simple as hell. This is a good thing.

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

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

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

There is an organization model in fintech which Curve, Revolut, Monzo etc have actually all followed:

launch by doing one thing well, and totally free or less expensive than the competitors
include increasingly more functions which your existing clients do not truly want or need

include charges, fees or restrictions to the function that made individuals get your item in the first place, getting rid of any competitive advantage
is currently still in Phase 1 of this process and will ideally stay there. Revolut, curve and monzo are currently in Stage 3 …
is basic enough that it passes my ‘Can you discuss it to your mate in the club in 30 seconds?’ test:

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

That’s it.

You don’t (yet …) earn any airline miles or points for using it.

Why would I want to get a card?
If you have a credit card offering 0% foreign exchange fees, then you don’t need a  card, unless you want complimentary ATM withdrawals. You can stop checking out now.

Credit cards which provide rewards and charge 0% FX fees are few and far between. The only ‘miles and points’ alternatives which provide a partial service are the Virgin Atlantic charge card which have 0% FX fees in the Euro zone.

IS possibly for you if:

you don’t have a credit card offering 0% FX fees and do not want to impact your credit report by getting another credit card specifically to use abroad
you want a product which enables you to make �,� 500 of foreign currency ATM withdrawals monthly with no charges 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 anybody else in your life who needs an easy, easy to understand payment card that will save them cash when taking a trip.

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

You make your purchase in local currency (any currency, internationally).
Your bank account bank immediately confirms 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. adds a 0.5% cost if you have the complimentary card. There are no fees if you have among their paid cards.
You get an automatic spend alert via the app, if you choose to install it.
The money is taken from your bank account a couple of days later on.
Here is an example. With no foreign travel in the diary, I decided to sprinkle out and buy 1,000 MeliaRewards points for EUR5.

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

Transforming pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daylight burglary that is almost to happen (often in a different language) while not telling you about the inflated currency conversion costs occurring in the background. Don’t get me started. Anyhow back to the positives for a bit anyway.

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

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

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

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

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

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

Interchange.
Each time you invest with your card we get a little % of the deal, referred to as interchange, this comes directly from the merchant and will not be charged to you. Free Currensea Card For Business