Using A Currensea Card – Best Travel Cards

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

It has won a couple of awards over current months for what it does (providing you an affordable way to spend abroad) but what I like about  is that it is easy as hell. This is an advantage.

is, efficiently, a direct debit travel card. You simply spend as you would on a normal debit card and the money is taken from your existing account– just without the typical 3% fee.

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

There are likewise some intriguing travel benefits if you pick a paid strategy, however the complimentary plan works fine. You can use here.

There is an organization model in fintech which Curve, Revolut, Monzo etc have all followed:

launch by doing something well, and free of charge or cheaper than the competitors
add a growing number of features which your existing clients do not actually want or require

add charges, constraints or fees to the function that made people get your item in the first place, eliminating any competitive advantage
is currently still in Stage 1 of this process and will hopefully remain there. Revolut, curve and monzo are currently in Phase 3 …
is easy 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 immediately charges all purchases to your existing current account in Sterling, less a little 0.5% charge.

That’s it.

You don’t (yet …) make any airline miles or points for using it.

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

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

IS perhaps for you if:

you don’t have a credit card offering 0% FX fees and do not want to affect your credit report by getting another credit card particularly to use abroad
you desire an item which enables you to make �,� 500 of foreign currency ATM withdrawals each month without any fees and only a minimal FX mark-up (there is a little charge beyond �,� 500).
you desire a product for you, your adult children, moms and dads, partner or anybody else in your life who requires an easy, 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 basic procedure. You utilize your Currensea card in the same way as your existing debit card.

You make your purchase in local currency (any currency, globally).
Your current account bank automatically verifies that you have adequate money in your account and authorises the transaction.
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% charge. If you have one of their paid cards, there are no charges.
You get an automated spend notification through the app, if you choose to install it.
The money is taken from your current account a couple of days later on.
Here is an example. Without any foreign travel in the journal, I chose to splash out and purchase 1,000 MeliaRewards points for EUR5.

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

However converting pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daylight robbery that is just about to occur (frequently in a different language) while not telling you about the inflated currency conversion fees occurring in the background. Do not get me started. Anyway back to the positives for a bit anyway.

In current years a handful of excellent travel debit cards have actually popped onto the scene … and like other great cards Currensea assures big savings (85%) and a terrific app.

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

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

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

FX markup.
While our premium strategies have no FX markup, we charge a small FX markup on our Essential Strategy of 0.5% per transaction, permitting us to make income from our Vital Plan whilst remaining 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 strategies, full information can be discovered on our pricing plans.

Membership costs.
We charge an annual subscription charge of �,� 25 for our Premium Plan, and �,� 120 for our Elite Strategy. The membership cost likewise gets rid of all FX markup on transactions.

Interchange.
Every time you invest with your card we receive a little % of the deal, known as interchange, this comes straight from the merchant and won’t be credited you. Using A Currensea Card