Where Can You Use Currensea Card – Best Travel Cards

A new fintech company which I was presented to previously this year. Where Can You Use Currensea Card…

It has actually won a couple of awards over recent months for what it does (using you an inexpensive method to invest abroad) but what I like about  is that it is basic as hell. This is a good idea.

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 merely invest as you would on a regular debit card and the money is drawn from your current account– just without the normal 3% cost.

Oh, and  is complimentary to make an application for, which likewise helps.

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

There is a business model in fintech which Curve, Revolut, Monzo and so on have all followed:

launch by doing something well, and totally free or more affordable than the competitors
include a growing number of functions which your existing consumers do not actually desire or require

include charges, charges or constraints to the feature 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. Monzo, curve and revolut are currently in Phase 3 …
is simple enough that it passes my ‘Can you describe it to your mate in the pub in 30 seconds?’ test:

It is a free direct debit card to use abroad and which immediately 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 miles or points for utilizing it.

Why would I want to get a card?
If you have a credit card offering 0% foreign exchange costs, then you do not need a  card, unless you want totally free ATM withdrawals. You can stop checking out now.

Credit cards which offer benefits and charge 0% FX costs are few and far in between. The only ‘points and miles’ alternatives 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 charge card offering 0% FX costs and do not wish to impact your credit report by getting another credit card specifically to use abroad
you desire an item which permits you to make �,� 500 of foreign currency ATM withdrawals monthly without any fees and only a minimal FX mark-up (there is a small charge beyond �,� 500).
you desire an item for you, your adult kids, parents, partner or anybody else in your life who requires an easy, easy to understand payment card that will conserve them money when taking a trip.

How does  operate in practice?
It is, as I stated previously, an extremely easy procedure. You utilize 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 automatically validates that you have sufficient cash in your account and authorises the deal.
The deal goes through at either the interbank rate or the Mastercard rate, depending on the currency. includes a 0.5% charge if you have the free card. There are no costs if you have one of their paid cards.
You get an automatic invest alert via the app, if you pick to install it.
The money is drawn from your current account a few days later on.
Here is an example. With no foreign travel in the journal, I chose to sprinkle out and buy 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:.

Transforming pounds was costly.

A pet peeve of mine is when ATMs forewarn you about the daytime robbery that is just about to take place (frequently in a different language) while not telling you about the expensive currency conversion costs happening in the background. Don’t get me began. Anyway back to the positives for a bit anyway.

Fortunately in the last few years a handful of terrific travel debit cards have popped onto the scene … and like other fantastic cards  assures big cost savings (85%) and a fantastic app.

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

What this suggests is you can spend money you have in your existing current account with less stress over running out of money and the extra action. That does not mean it is ideal.

In this Currensea review 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 Important Strategy of 0.5% per deal, permitting us to make revenue 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 free quantity on all our plans, full details can be found on our rates strategies.

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

Interchange.
Whenever you spend with your card we receive a small % of the transaction, referred to as interchange, this comes straight from the merchant and won’t be charged to you. Where Can You Use Currensea Card