Free Physical Currensea Card – Best Travel Cards

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

It has won a couple of awards over current months for what it does (providing you an inexpensive method to spend abroad) but what I like about  is that it is basic as hell. This is a good thing.

is, effectively, a direct debit travel card. You simply spend as you would on a regular debit card and the money is taken from your present account– just without the normal 3% charge.

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

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

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

launch by doing something well, and totally free or cheaper than the competition
add a growing number of functions which your existing clients do not really desire or require

add charges, charges or limitations to the feature that made people get your item in the first place, eliminating any competitive advantage
is currently still in Phase 1 of this process and will hopefully remain there. Revolut, curve and monzo are currently in Phase 3 …
is easy 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 use abroad and which automatically charges 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 company miles or points for using it.

Why would I want to get a card?
If you have a charge card offering 0% foreign exchange charges, then you don’t need a  card, unless you want free ATM withdrawals. You can stop reading now.

Credit cards which use rewards and charge 0% FX charges are couple of and far between. The only ‘points and miles’ options which offer a partial service are the Virgin Atlantic charge card which have 0% FX costs in the Euro zone.

IS possibly for you if:

you don’t have a credit card offering 0% FX charges and do not wish to impact your credit report by getting another charge card specifically to use abroad
you desire an item which enables you to make �,� 500 of foreign currency ATM withdrawals each month with no costs and only a minimal FX mark-up (there is a little charge beyond �,� 500).
you desire an item for you, your adult children, parents, partner or anybody else in your life who requires a simple, easy to understand payment card that will save them money when travelling.

How does  work in practice?
It is, as I stated previously, a really 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, globally).
Your current account bank immediately validates 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. includes a 0.5% fee if you have the totally free card. There are no costs if you have among their paid cards.
You get an automatic invest alert through the app, if you select to install it.
The money is taken from your bank account a couple of days later.
Here is an example. With no foreign travel in the diary, I decided to sprinkle out and purchase 1,000 MeliaRewards points for EUR5.

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

Transforming pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daylight break-in that is practically to occur (often in a various 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 anyhow.

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

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

What this suggests is you can spend cash you have in your existing bank account with less fret about running out of cash and the extra step. That does not mean it is perfect.

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

FX markup.
While our premium strategies have no FX markup, we charge a nominal FX markup on our Vital Plan of 0.5% per deal, allowing us to make earnings from our Vital Plan whilst staying more affordable than other pre-paid cards and high-street debit cards. We also charge an FX markup on ATM use over the free quantity on all our plans, full information can be found on our prices plans.

Subscription fees.
We charge a yearly subscription charge of �,� 25 for our Premium Plan, and �,� 120 for our Elite Strategy. The subscription cost likewise gets rid of all FX markup on deals.

Interchange.
Whenever you spend with your card we get a small % of the transaction, called interchange, this comes directly from the merchant and won’t be charged to you. Free Physical Currensea Card