Why Can T I Get A Free Currensea Card – Best Travel Cards

A brand-new fintech company which I was introduced to previously this year. Why Can T I Get A Free Currensea Card…

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

is, efficiently, a direct debit travel card. You simply spend as you would on a regular debit card and the cash is taken from your present account– just without the usual 3% charge.

Oh, and  is complimentary to obtain, which also helps.

There are likewise some fascinating travel benefits if you select a paid plan, however the totally free strategy works fine. You can apply here.

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

launch by doing one thing well, and totally free or more affordable than the competition
add more and more functions which your existing customers do not really desire or need

add restrictions, charges or charges to the feature that made people get your product in the first place, eliminating any competitive advantage
is currently still in Stage 1 of this process and will ideally remain there. Monzo, curve and revolut are currently in Phase 3 …
is simple enough that it passes my ‘Can you explain it to your mate in the bar in 30 seconds?’ test:

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

That’s it.

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

Why would I wish to get a card?
If you have a charge card offering 0% forex charges, then you don’t require a  card, unless you desire free ATM withdrawals. You can stop reading now.

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

IS possibly for you if:

you do not have a credit card offering 0% FX charges and do not wish to affect your credit report by getting another charge card specifically to use abroad
you want an item which permits you to make �,� 500 of foreign currency ATM withdrawals monthly without any charges and just a very little FX mark-up (there is a small fee beyond �,� 500).
you want a product for you, your adult kids, parents, partner or anyone else in your life who requires a basic, easy to understand payment card that will save them money when travelling.

How does  work in practice?
It is, as I stated earlier, a really basic process. You use your Currensea card in the same way as your existing debit card.

You make your purchase in regional currency (any currency, internationally).
Your bank account bank instantly validates that you have adequate 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. 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 notice by means of the app, if you select to install it.
The money is taken from your current account a couple of days later.
Here is an example. With no foreign travel in the journal, I chose to splash out and buy 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 few days later:.

Converting pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daylight burglary that is practically to happen (typically in a different language) while not telling you about the inflated currency conversion fees taking place in the background. Do not get me started. Anyway back to the positives for a bit anyway.

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

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

What this means is you can invest money you have in your existing current account with less stress over lacking money and the extra action. That does not imply it is ideal.

In this Currensea review 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 Vital Strategy of 0.5% per deal, enabling us to make earnings from our Vital Plan whilst staying more affordable than other pre-paid cards and high-street debit cards. We likewise charge an FX markup on ATM usage over the free quantity on all our strategies, complete information can be discovered on our rates strategies.

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

Interchange.
Whenever you spend with your card we receive a small % of the transaction, referred to as interchange, this comes directly from the merchant and won’t be credited you. Why Can T I Get A Free Currensea Card