Where Is My Currensea Card – Best Travel Cards

A brand-new fintech business which I was presented to earlier this year. Where Is My Currensea Card…

It has won a couple of awards over current 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 an advantage.

is, successfully, a direct debit travel card. It is a Mastercard which sits in between you and your existing bank account. There is nothing to top-up or prepay. You merely spend as you would on a regular debit card and the money is taken from your current account– simply without the typical 3% charge.

Oh, and  is complimentary to look for, which also helps.

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

There is a service design in fintech which Curve, Revolut, Monzo and so on have actually all followed:

launch by doing one thing well, and free of charge or more affordable than the competition
add a growing number of functions which your existing customers do not actually require or want

include costs, charges or limitations to the function that made individuals get your product in the first place, eliminating any competitive advantage
is currently still in Stage 1 of this procedure and will hopefully stay there. Revolut, monzo and curve are currently in Stage 3 …
is easy enough that it passes my ‘Can you discuss it to your mate in the pub in 30 seconds?’ test:

It is a free direct debit card to utilize abroad and which instantly recharges all purchases to your existing bank account in Sterling, less a small 0.5% cost.

That’s it.

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

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

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

IS possibly for you if:

you do not have a credit card offering 0% FX costs and do not want to affect your credit report by getting another credit card particularly to use abroad
you want a product which enables you to make �,� 500 of foreign currency ATM withdrawals each month without any charges and only a minimal FX mark-up (there is a small fee beyond �,� 500).
you desire 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 save 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 bank account bank automatically confirms 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 totally free card,  includes a 0.5% charge. If you have one of their paid cards, there are no fees.
You get an automatic spend notification through the app, if you choose to install it.
The cash is taken from your bank account a few days later.
Here is an example. Without any foreign travel in the diary, I decided to splash out and buy 1,000 MeliaRewards points for EUR5.

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

However transforming pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daytime break-in that is almost to take place (frequently in a different language) while not telling you about the outrageous currency conversion charges happening in the background. Don’t get me began. Anyhow back to the positives for a bit anyway.

Luckily in recent years a handful of great travel debit cards have actually popped onto the scene … and like other excellent cards  promises big savings (85%) and an excellent 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 invest cash you have in your existing current account with less worry about lacking money and the extra action. That does not suggest it is best.

In this Currensea evaluation is the good, the bad, the ugly and the options, so that you can decide.

FX markup.
While our premium plans have no FX markup, we charge a small FX markup on our Essential Strategy of 0.5% per deal, enabling us to make profits from our Vital Plan whilst remaining much cheaper than other prepaid cards and high-street debit cards. We likewise charge an FX markup on ATM use over the free amount on all our plans, full information can be found on our prices plans.

Membership fees.
We charge a yearly membership cost of �,� 25 for our Premium Plan, and �,� 120 for our Elite Plan. The subscription charge also eliminates all FX markup on deals.

Interchange.
Whenever you spend with your card we get a little % of the transaction, known as interchange, this comes directly from the merchant and will not be charged to you. Where Is My Currensea Card