Free Currensea Card March 2019 – Best Travel Cards

A new fintech business which I was introduced to earlier this year. Free Currensea Card March 2019…

It has actually won a few awards over current 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 thing.

is, effectively, a direct debit travel card. You simply invest as you would on a typical debit card and the cash is taken from your current account– simply without the normal 3% fee.

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

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

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

launch by doing something well, and totally free or less expensive than the competition
include increasingly more features which your existing clients do not actually need or desire

include charges, limitations or charges to the function that made individuals get your item in the first place, getting rid of any competitive advantage
is presently still in Phase 1 of this procedure and will hopefully stay there. Revolut, curve and monzo are already in Phase 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 complimentary direct debit card to utilize abroad and which automatically recharges all purchases to your existing current account in Sterling, less a little 0.5% cost.

That’s it.

You do not (yet …) earn any airline miles or points for utilizing it.

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

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

IS potentially 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 desire an item which enables you to make �,� 500 of foreign currency ATM withdrawals each month without any costs and just a very little FX mark-up (there is a little charge beyond �,� 500).
you desire a product for you, your adult children, parents, partner or anyone else in your life who needs an easy, easy to understand payment card that will save them money when taking a trip.

How does  operate in practice?
It is, as I said previously, an extremely easy process. You utilize your Currensea card in the same way as your existing debit card.

You make your purchase in local currency (any currency, globally).
Your bank account bank immediately verifies that you have enough 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 free card,  adds a 0.5% cost. There are no fees if you have one of their paid cards.
You get an automatic invest alert via the app, if you select to install it.
The money is drawn from your current account a couple of days later.
Here is an example. Without any 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 set up to leave my HSBC account a few days later on:.

Converting pounds was costly.

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

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

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

What this suggests is you can invest money you have in your existing current account with less stress over running out of money and the extra step. That does not imply it is best.

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

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

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

Interchange.
Every time you spend with your card we receive a little % of the transaction, known as interchange, this comes straight from the merchant and won’t be credited you. Free Currensea Card March 2019