Apply For Currensea Travel Card – Best Travel Cards

A new fintech business which I was presented to earlier this year. Apply For Currensea Travel Card…

It has won a few awards over current months for what it does (using you an affordable way to spend abroad) however what I like about  is that it is simple as hell. This is a good thing.

is, successfully, a direct debit travel card. It is a Mastercard which sits between you and your existing bank account. There is absolutely nothing to top-up or prepay. You simply invest as you would on a normal debit card and the money is drawn from your current account– just without the usual 3% fee.

Oh, and  is totally free to look for, which likewise helps.

There are also some intriguing travel benefits if you select a paid strategy, but the totally free plan works fine. You can apply here.

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

launch by doing one thing well, and totally free or less expensive than the competitors
add a growing number of functions which your existing clients do not really need or desire

include charges, limitations or costs to the function that made individuals get your product in the first place, getting rid of any competitive advantage
is currently still in Stage 1 of this procedure and will hopefully remain there. Revolut, monzo and curve are already in Stage 3 …
is basic enough that it passes my ‘Can you describe it to your mate in the pub 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 credit card offering 0% foreign exchange costs, then you do not need a  card, unless you want totally free ATM withdrawals. You can stop reading now.

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

IS potentially for you if:

you don’t have a credit card offering 0% FX charges and do not want to impact your credit report by getting another charge card specifically to use abroad
you want an item which enables you to make �,� 500 of foreign currency ATM withdrawals per month without any charges and only a minimal FX mark-up (there is a small cost beyond �,� 500).
you want an item for you, your adult children, moms and dads, partner or anyone else in your life who requires a simple, easy to understand payment card that will conserve them cash when taking a trip.

How does  work in practice?
It is, as I said earlier, a very 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, worldwide).
Your current account bank instantly verifies that you have enough money in your account and authorises the transaction.
The deal goes through at either the interbank rate or the Mastercard rate, depending on the currency. includes a 0.5% fee if you have the complimentary card. There are no costs if you have among their paid cards.
You get an automatic spend notice by means of 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. With no foreign travel in the diary, 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 few days later on:.

However converting pounds was costly.

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

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

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

What this implies is you can spend cash you have in your existing bank account with less worry about lacking cash and the extra step. That does not suggest it is perfect.

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

FX markup.
While our premium strategies have no FX markup, we charge a nominal FX markup on our Vital Strategy of 0.5% per transaction, enabling us to make profits from our Important Plan whilst remaining more affordable than other prepaid cards and high-street debit cards. We likewise charge an FX markup on ATM usage over the complimentary quantity on all our strategies, complete details can be discovered on our pricing plans.

Subscription fees.
We charge a yearly subscription fee of �,� 25 for our Premium Plan, and �,� 120 for our Elite Strategy. The membership fee also gets rid of all FX markup on deals.

Interchange.
Whenever you spend with your card we get a small % of the deal, called interchange, this comes directly from the merchant and will not be charged to you. Apply For Currensea Travel Card