Get Additional Currensea Card For Your Account – Best Travel Cards

A new fintech company which I was presented to previously this year. Get Additional Currensea Card For Your Account…

It has won a couple of awards over current months for what it does (offering you an inexpensive way to invest abroad) however what I like about  is that it is simple as hell. This is a good idea.

is, successfully, a direct debit travel card. It is a Mastercard which sits between you and your existing current account. There is nothing to top-up or prepay. You just invest as you would on a regular debit card and the cash is drawn from your current account– just without the normal 3% fee.

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

There are also some interesting travel advantages if you pick a paid strategy, however the complimentary plan works fine. You can apply here.

There is a business model in fintech which Curve, Revolut, Monzo and so on have actually all followed:

launch by doing one thing well, and free of charge or more affordable than the competitors
include more and more features which your existing clients don’t truly need or desire

add charges, charges or restrictions to the function that made people get your product in the first place, removing any competitive advantage
is currently still in Stage 1 of this process and will hopefully stay there. Monzo, revolut and curve are already in Stage 3 …
is basic enough that it passes my ‘Can you explain it to your mate in the pub in 30 seconds?’ test:

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

That’s it.

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

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

However, charge card which use benefits and charge 0% FX charges are rare. The only ‘points and miles’ choices which provide a partial option are the Virgin Atlantic credit cards which have 0% FX charges in the Euro zone.

IS possibly for you if:

you don’t have a charge card offering 0% FX fees and do not wish to impact your credit report by getting another credit card particularly to utilize abroad
you want a product which enables you to make �,� 500 of foreign currency ATM withdrawals monthly without any charges and only a minimal FX mark-up (there is a small charge beyond �,� 500).
you desire a product for you, your adult children, parents, partner or anybody else in your life who requires a simple, easy to understand payment card that will conserve them cash when travelling.

How does  work in practice?
It is, as I said 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, worldwide).
Your current account bank immediately verifies that you have enough money in your account and authorises the transaction.
The transaction goes through at either the interbank rate or the Mastercard rate, depending on the currency. includes a 0.5% charge if you have the complimentary card. There are no fees if you have among their paid cards.
You get an automated spend notification via the app, if you select to install it.
The cash is taken from your current account a few days later.
Here is an example. With no foreign travel in the journal, I decided to sprinkle 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 couple of days later on:.

Converting pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daylight robbery that is practically to take place (often in a different language) while not telling you about the expensive currency conversion charges occurring in the background. Do not get me started. Anyhow back to the positives for a bit anyway.

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

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

What this implies is you can invest cash you have in your existing current account with less fret about lacking cash and the extra action. That does not imply it is ideal.

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

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

Subscription charges.
We charge an annual subscription charge of �,� 25 for our Premium Plan, and �,� 120 for our Elite Strategy. The membership fee also gets rid of all FX markup on deals.

Interchange.
Each time you spend with your card we get a small % of the transaction, referred to as interchange, this comes directly from the merchant and won’t be credited you. Get Additional Currensea Card For Your Account