Gpay Currensea Card – Best Travel Cards

A brand-new fintech company which I was presented to previously this year. Gpay Currensea Card…

It has won a few awards over recent months for what it does (using you a low-cost method to invest abroad) but what I like about  is that it is simple 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 absolutely nothing to top-up or prepay. You simply spend as you would on a normal debit card and the money is drawn from your bank account– simply without the usual 3% fee.

Oh, and  is free to get, which also assists.

There are likewise some intriguing travel advantages if you select a paid plan, however the totally free plan works fine. You can use here.

There is a business design in fintech which Curve, Revolut, Monzo etc have all followed:

launch by doing something well, and free of charge or more affordable than the competition
include a growing number of functions which your existing consumers don’t really need or desire

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

It is a 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% fee.

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 charges, then you do not need a  card, unless you want free ATM withdrawals. You can stop reading now.

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

IS possibly for you if:

you do not have a charge card offering 0% FX charges and do not want to affect your credit report by getting another charge card specifically to use abroad
you want an item which allows you to make �,� 500 of foreign currency ATM withdrawals per month with no fees and only a minimal FX mark-up (there is a little cost beyond �,� 500).
you want an item for you, your adult kids, moms and dads, partner or anyone else in your life who needs an easy, easy to understand payment card that will conserve them cash when travelling.

How does  operate in practice?
It is, as I stated earlier, a really simple 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 bank account bank automatically confirms that you have adequate money in your account and authorises the deal.
The transaction goes through at either the interbank rate or the Mastercard rate, depending on the currency. includes a 0.5% fee if you have the free card. There are no charges if you have among their paid cards.
You get an automatic spend notification via 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 decided to splash 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 few days later on:.

But converting pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daytime break-in that is almost to happen (often in a different language) while not telling you about the exorbitant currency conversion costs taking place in the background. Do not get me started. Anyway back to the positives for a bit anyhow.

Fortunately in the last few years a handful of excellent travel debit cards have actually popped onto the scene … and like other fantastic cards  guarantees huge cost savings (85%) and a great app.

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

What this indicates is you can spend money you have in your existing current account with less worry about lacking money and the additional action. That does not mean it is perfect.

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

FX markup.
While our premium plans have no FX markup, we charge a small FX markup on our Necessary Plan of 0.5% per deal, enabling us to make income from our Important Strategy whilst staying 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, full information can be discovered on our pricing plans.

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

Interchange.
Each time you invest with your card we receive a little % of the deal, called interchange, this comes straight from the merchant and will not be credited you. Gpay Currensea Card