Free Currensea Card Ireland – Best Travel Cards

A brand-new fintech company which I was introduced to previously this year. Free Currensea Card Ireland…

It has won a couple of awards over recent months for what it does (providing you a low-cost way to invest abroad) but what I like about  is that it is easy as hell. This is an advantage.

is, efficiently, a direct debit travel card. You simply spend as you would on a regular debit card and the cash is taken from your current account– simply without the usual 3% charge.

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

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

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

launch by doing one thing well, and for free or more affordable than the competitors
add increasingly more functions which your existing customers do not actually want or require

add constraints, charges or fees to the feature that made people get your item in the first place, getting rid of any competitive advantage
is currently still in Stage 1 of this procedure and will ideally remain 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 use abroad and which automatically charges all purchases to your existing current account in Sterling, less a little 0.5% charge.

That’s it.

You don’t (yet …) make any airline company miles or points for utilizing it.

Why would I want to get a card?
If you have a credit card offering 0% forex charges, then you do not require a  card, unless you desire totally free ATM withdrawals. You can stop reading now.

However, charge card which use rewards and charge 0% FX fees are rare. The only ‘points and miles’ alternatives 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 don’t have a charge card offering 0% FX charges and do not wish to affect your credit report by getting another charge card particularly to use abroad
you desire a product which enables you to make �,� 500 of foreign currency ATM withdrawals each month without any fees and only a minimal FX mark-up (there is a little charge beyond �,� 500).
you want a product for you, your adult kids, moms and dads, partner or anybody else in your life who requires a basic, easy to understand payment card that will conserve them cash when travelling.

How does  operate in practice?
It is, as I stated previously, an extremely simple procedure. 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 verifies that you have sufficient 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. adds a 0.5% charge if you have the totally free card. There are no charges if you have among their paid cards.
You get an automatic invest notification by means of the app, if you select 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 chose 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 few days later on:.

But converting pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daylight break-in that is practically to occur (typically in a various language) while not telling you about the expensive currency conversion costs taking place in the background. Don’t get me started. Anyhow back to the positives for a bit anyhow.

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

However I think the 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 mean it is ideal.

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

FX markup.
While our premium plans have no FX markup, we charge a nominal FX markup on our Essential Plan of 0.5% per transaction, permitting us to make profits from our Necessary Plan whilst staying much cheaper 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 plans, complete information can be found on our rates plans.

Membership fees.
We charge an annual subscription cost of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Plan. The subscription cost also eliminates all FX markup on deals.

Interchange.
Each time you spend with your card we get a little % of the transaction, called interchange, this comes directly from the merchant and won’t be credited you. Free Currensea Card Ireland