Booking Com Currensea Card – Best Travel Cards

A new fintech company which I was presented to previously this year. Booking Com Currensea Card…

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

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

Oh, and  is free to get, which also helps.

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

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

launch by doing something well, and totally free or more affordable than the competition
include increasingly more features which your existing clients don’t actually want or require

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

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

That’s it.

You do not (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 don’t need a  card, unless you desire totally free ATM withdrawals. You can stop reading now.

However, credit cards which provide benefits and charge 0% FX charges are rare. The only ‘points and miles’ options which offer a partial option are the Virgin Atlantic credit cards which have 0% FX charges in the Euro zone.

IS perhaps for you if:

you don’t have a charge card offering 0% FX costs and do not want to affect your credit report by getting another charge card particularly to use abroad
you want an item which enables you to make �,� 500 of foreign currency ATM withdrawals monthly without any charges and just a minimal FX mark-up (there is a small charge beyond �,� 500).
you want an item for you, your adult kids, moms and dads, partner or anybody else in your life who requires an easy, easy to understand payment card that will save them cash when travelling.

How does  work in practice?
It is, as I said previously, a really simple procedure. 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 automatically verifies that you have adequate cash in your account and authorises the deal.
The transaction goes through at either the interbank rate or the Mastercard rate, depending upon the currency. adds a 0.5% cost if you have the totally free card. If you have one of their paid cards, there are no costs.
You get an automated invest alert through the app, if you select to install it.
The money is drawn from your bank account a few days later.
Here is an example. Without any foreign travel in the journal, I decided to sprinkle out and buy 1,000 MeliaRewards points for EUR5.

This is what you see in the Currensea app, which shows �,� 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 burglary that is just about to occur (frequently in a various language) while not telling you about the expensive currency conversion fees happening in the background. Don’t get me began. Anyhow back to the positives for a bit anyhow.

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

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

What this indicates is you can spend money you have in your existing bank account with less fret about running out of cash and the extra action. That does not imply it is ideal.

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

FX markup.
While our premium plans have no FX markup, we charge a nominal FX markup on our Necessary Strategy of 0.5% per transaction, enabling us to make income from our Essential Strategy whilst staying much cheaper than other pre-paid cards and high-street debit cards. We also charge an FX markup on ATM usage over the complimentary amount on all our strategies, complete information can be discovered on our pricing strategies.

Membership fees.
We charge an annual membership cost of �,� 25 for our Premium Plan, and �,� 120 for our Elite Strategy. The membership fee likewise eliminates all FX markup on deals.

Interchange.
Whenever you invest with your card we receive a little % of the deal, known as interchange, this comes directly from the merchant and won’t be credited you. Booking Com Currensea Card