Someone Took My Currensea Card – Best Travel Cards

A new fintech company which I was introduced to earlier this year. Someone Took My Currensea Card…

It has won a few awards over recent months for what it does (offering you an affordable method to invest abroad) but what I like about  is that it is simple as hell. This is an advantage.

is, effectively, a direct debit travel card. You merely invest as you would on a typical debit card and the cash is taken from your present account– just without the usual 3% cost.

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

There are also some intriguing travel benefits if you choose a paid plan, but the complimentary strategy works fine. You can use here.

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

launch by doing something well, and totally free or cheaper than the competitors
add more and more functions which your existing customers don’t truly need or desire

include restrictions, charges 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 Phase 1 of this process and will hopefully stay there. Curve, monzo and revolut are currently in Stage 3 …
is easy enough that it passes my ‘Can you describe it to your mate in the club in 30 seconds?’ test:

It is a totally free direct debit card to use abroad and which automatically recharges all purchases to your existing bank 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 want to get a card?
If you have a credit card offering 0% forex costs, then you do not require a  card, unless you want free ATM withdrawals. You can stop checking out now.

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

IS possibly for you if:

you do not have a credit card offering 0% FX charges and do not want to impact your credit report by getting another charge card specifically to utilize abroad
you want a product which enables you to make �,� 500 of foreign currency ATM withdrawals each month with no fees and just a very little FX mark-up (there is a little charge beyond �,� 500).
you desire an item for you, your adult kids, moms and dads, partner or anybody else in your life who needs a basic, easy to understand payment card that will save them money when travelling.

How does  work in practice?
It is, as I said earlier, an extremely simple process. You use your Currensea card in the same way as your existing debit card.

You make your purchase in local currency (any currency, internationally).
Your current account bank immediately verifies that you have sufficient cash in your account and authorises the deal.
The transaction goes through at either the interbank rate or the Mastercard rate, depending upon the currency. If you have the totally free card,  adds a 0.5% fee. There are no costs if you have one of their paid cards.
You get an automatic spend alert via the app, if you choose to install it.
The money is drawn from your bank account a few days later on.
Here is an example. Without any 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 reveals �,� 4.33 set up to leave my HSBC account a couple of days later:.

However transforming pounds was costly.

A pet peeve of mine is when ATMs forewarn you about the daylight burglary that is practically to take place (frequently in a various language) while not telling you about the outrageous currency conversion charges occurring in the background. Do not get me began. Anyhow back to the positives for a bit anyhow.

Thankfully in recent years a handful of great travel debit cards have popped onto the scene … and like other great cards  assures huge cost savings (85%) and an excellent app.

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

What this indicates is you can spend cash you have in your existing bank account with less fret about lacking money and the extra action. That does not mean it is ideal.

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

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 earnings from our Vital Strategy whilst remaining much cheaper 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 strategies, complete information can be discovered on our rates plans.

Subscription charges.
We charge a yearly subscription charge of �,� 25 for our Premium Plan, and �,� 120 for our Elite Strategy. The membership cost likewise eliminates all FX markup on transactions.

Interchange.
Every time you invest with your card we get a small % of the deal, known as interchange, this comes directly from the merchant and won’t be charged to you. Someone Took My Currensea Card