Limite Currensea Card – Best Travel Cards

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

It has won a few awards over recent months for what it does (providing you a low-cost way to spend 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. You simply spend as you would on a regular debit card and the money is taken from your present account– just without the usual 3% fee.

Oh, and  is totally free to apply for, which also helps.

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

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

launch by doing something well, and for free or cheaper than the competitors
include more and more features which your existing customers do not truly need or want

add costs, restrictions or charges to the function that made people get your item in the first place, getting rid of any competitive advantage
is presently still in Phase 1 of this procedure and will ideally remain there. Curve, Revolut and Monzo are currently in Stage 3 …
is simple enough that it passes my ‘Can you explain it to your mate in the club in 30 seconds?’ test:

It is a complimentary direct debit card to use abroad and which instantly charges all purchases to your existing current account in Sterling, less a small 0.5% charge.

That’s it.

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

Why would I wish to get a card?
If you have a credit card offering 0% foreign exchange costs, then you do not require a  card, unless you want complimentary ATM withdrawals. You can stop reading now.

Nevertheless, charge card which offer rewards and charge 0% FX costs are few and far between. The only ‘miles and points’ options which provide a partial service are the Virgin Atlantic credit cards which have 0% FX costs in the Euro zone.

IS potentially for you if:

you do not have a credit 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 an item which allows you to make �,� 500 of foreign currency ATM withdrawals monthly without any costs and just a minimal FX mark-up (there is a little charge beyond �,� 500).
you want a product for you, your adult children, parents, partner or anyone else in your life who needs a simple, easy to understand payment card that will conserve them cash when taking a trip.

How does  operate in practice?
It is, as I stated earlier, a very 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, worldwide).
Your current account bank automatically validates that you have enough cash 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 complimentary card,  includes a 0.5% fee. There are no charges if you have one of their paid cards.
You get an automated invest notice through the app, if you pick to install it.
The money is taken from your bank account a few days later.
Here is an example. Without any foreign travel in the journal, I chose to sprinkle out and purchase 1,000 MeliaRewards points for EUR5.

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

Converting pounds was costly.

A pet peeve of mine is when ATMs forewarn you about the daytime robbery that is almost to occur (often in a different language) while not telling you about the expensive currency conversion costs taking place in the background. Don’t get me began. Anyhow back to the positives for a bit anyhow.

Thankfully in the last few years a handful of terrific travel debit cards have actually popped onto the scene … and like other fantastic cards  guarantees big savings (85%) and an excellent app.

But I think the very best bit might be what no other card does: links to your existing high street savings account.

What this indicates is you can spend money you have in your existing current account with less fret about running out of cash and the additional step. That does not imply it is ideal.

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

FX markup.
While our premium strategies have no FX markup, we charge a small FX markup on our Important Plan of 0.5% per transaction, permitting us to make earnings from our Essential 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 amount on all our plans, full information can be discovered on our prices plans.

Subscription fees.
We charge a yearly membership fee of �,� 25 for our Premium Plan, and �,� 120 for our Elite Plan. The subscription charge also removes all FX markup on transactions.

Interchange.
Each time you invest with your card we get a little % of the transaction, called interchange, this comes directly from the merchant and won’t be charged to you. Limite Currensea Card