Can I Have A Secondary Card With Currensea – Best Travel Cards

A new fintech business which I was introduced to previously this year. Can I Have A Secondary Card With Currensea…

It has actually won a few awards over recent months for what it does (using you a low-cost way to invest abroad) but what I like about  is that it is simple as hell. This is a good thing.

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

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

There are likewise some intriguing travel benefits if you pick a paid strategy, but the complimentary plan works fine. You can use here.

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

launch by doing one thing well, and totally free or cheaper than the competitors
add more and more functions which your existing consumers do not truly require or desire

include charges, charges or restrictions to the function that made people get your item in the first place, getting rid of any competitive advantage
is currently still in Phase 1 of this procedure and will ideally remain there. Revolut, monzo and curve are currently in Stage 3 …
is simple enough that it passes my ‘Can you explain it to your mate in the club in 30 seconds?’ test:

It is a complimentary direct debit card to utilize abroad and which immediately charges all purchases to your existing bank account in Sterling, less a small 0.5% fee.

That’s it.

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

Why would I wish to get a card?
If you have a credit card offering 0% forex fees, then you don’t require a  card, unless you want complimentary ATM withdrawals. You can stop reading now.

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

IS perhaps for you if:

you don’t have a credit card offering 0% FX charges and do not wish to impact your credit report by getting another credit card particularly to utilize abroad
you want a product which enables you to make �,� 500 of foreign currency ATM withdrawals per month without any costs and just a minimal FX mark-up (there is a small cost beyond �,� 500).
you want an item for you, your adult kids, parents, partner or anyone else in your life who needs a basic, easy to understand payment card that will save them cash when travelling.

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

You make your purchase in local currency (any currency, internationally).
Your bank account bank instantly validates that you have sufficient money in your account and authorises the transaction.
The transaction goes through at either the interbank rate or the Mastercard rate, depending upon the currency. includes a 0.5% charge if you have the totally free card. There are no charges if you have one of their paid cards.
You get an automatic invest notice through the app, if you select to install it.
The money is taken from your current account a few days later on.
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 couple of days later:.

Converting pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daylight robbery that is almost to occur (typically in a various language) while not telling you about the exorbitant currency conversion costs taking place in the background. Don’t get me started. Anyhow back to the positives for a bit anyhow.

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

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

What this suggests is you can spend money you have in your existing current account with less stress over running out of cash and the extra step. However that does not suggest it is best.

In this Currensea review is the great, 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 nominal FX markup on our Important Plan of 0.5% per deal, allowing us to make revenue from our Essential 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 totally free quantity on all our plans, full information can be found on our prices strategies.

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

Interchange.
Whenever you invest with your card we get a small % of the transaction, known as interchange, this comes straight from the merchant and won’t be credited you. Can I Have A Secondary Card With Currensea