Get Free Spare Currensea Card – Best Travel Cards

A new fintech company which I was introduced to earlier this year. Get Free Spare Currensea Card…

It has actually won a few awards over current months for what it does (providing you an affordable method to spend abroad) however what I like about  is that it is easy as hell. This is a good thing.

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

Oh, and  is complimentary to request, which also assists.

There are also some fascinating travel advantages if you select a paid strategy, however the free strategy works fine. You can apply here.

There is an organization design in fintech which Curve, Revolut, Monzo and so on have all followed:

launch by doing something well, and totally free or cheaper than the competition
include increasingly more functions which your existing consumers don’t really require or want

include charges, limitations or fees to the feature that made people get your product in the first place, getting rid of any competitive advantage
is currently still in Stage 1 of this process and will ideally stay there. Monzo, curve and revolut are already in Stage 3 …
is basic enough that it passes my ‘Can you explain it to your mate in the club in 30 seconds?’ test:

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

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 credit card offering 0% forex costs, then you do not need a  card, unless you want totally free ATM withdrawals. You can stop reading now.

However, credit cards which offer benefits and charge 0% FX charges are few and far between. The only ‘miles and points’ options which use a partial option are the Virgin Atlantic charge card which have 0% FX costs in the Euro zone.

IS perhaps for you if:

you don’t have a charge card offering 0% FX charges and do not wish to impact your credit report by getting another credit card particularly to use abroad
you want a product which allows you to make �,� 500 of foreign currency ATM withdrawals each month without any fees and just a very little FX mark-up (there is a little charge beyond �,� 500).
you want an item for you, your adult kids, parents, partner or anybody else in your life who needs an easy, easy to understand payment card that will conserve them cash when travelling.

How does  work in practice?
It is, as I stated previously, a really basic 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 current account bank instantly verifies that you have sufficient money in your account and authorises the transaction.
The transaction goes through at either the interbank rate or the Mastercard rate, depending upon the currency. If you have the complimentary card,  adds a 0.5% charge. There are no costs if you have one of their paid cards.
You get an automated invest alert through the app, if you choose to install it.
The money is drawn from your bank account a couple of days later on.
Here is an example. Without any foreign travel in the journal, I decided to splash out and purchase 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 few days later:.

However converting pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daytime break-in that is almost to occur (often in a various language) while not telling you about the exorbitant currency conversion charges occurring in the background. Don’t get me began. 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 promises huge cost savings (85%) and a great app.

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

What this means is you can invest cash you have in your existing bank account with less worry about lacking cash and the extra step. That does not suggest it is best.

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

FX markup.
While our premium plans have no FX markup, we charge a small FX markup on our Necessary Strategy of 0.5% per deal, permitting us to make profits from our Vital Strategy whilst remaining much cheaper than other prepaid cards and high-street debit cards. We likewise charge an FX markup on ATM use over the totally free quantity on all our strategies, full details can be discovered on our rates plans.

Subscription fees.
We charge an annual membership fee of �,� 25 for our Premium Plan, and �,� 120 for our Elite Plan. The membership charge likewise gets rid of all FX markup on transactions.

Interchange.
Whenever you spend with your card we receive a small % of the deal, called interchange, this comes straight from the merchant and will not be credited you. Get Free Spare Currensea Card