Can I Use Currensea Card In Bulgaria – Best Travel Cards

A new fintech business which I was presented to previously this year. Can I Use Currensea Card In Bulgaria…

It has won a couple of awards over recent months for what it does (using you a low-cost way to invest abroad) however what I like about  is that it is easy as hell. This is an advantage.

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

Oh, and  is free to apply for, which also helps.

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

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

launch by doing one thing well, and for free or more affordable than the competition
add more and more functions which your existing customers don’t truly require or want

add charges, constraints 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 procedure and will ideally stay there. Revolut, curve and monzo are currently in Phase 3 …
is simple enough that it passes my ‘Can you discuss it to your mate in the pub in 30 seconds?’ test:

It is a complimentary 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 …) earn 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% foreign exchange fees, then you do not need a  card, unless you want complimentary ATM withdrawals. You can stop checking out now.

Credit cards which provide benefits and charge 0% FX costs are couple of and far between. The only ‘miles and points’ options which offer a partial solution are the Virgin Atlantic charge card which have 0% FX fees in the Euro zone.

IS perhaps for you if:

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

How does  work in practice?
It is, as I said earlier, an extremely 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 immediately verifies that you have enough money in your account and authorises the deal.
The transaction goes through at either the interbank rate or the Mastercard rate, depending upon the currency. If you have the complimentary card,  adds a 0.5% cost. There are no costs if you have among their paid cards.
You get an automated spend notification through 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 diary, I decided to sprinkle out and purchase 1,000 MeliaRewards points for EUR5.

This is what you see in the Currensea app, which shows �,� 4.33 arranged 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 daytime burglary that is almost to take place (frequently in a different language) while not telling you about the exorbitant currency conversion costs happening in the background. Don’t get me started. Anyway back to the positives for a bit anyhow.

Luckily in recent years a handful of fantastic travel debit cards have actually popped onto the scene … and like other fantastic cards  assures big cost savings (85%) and an excellent 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 implies is you can invest cash you have in your existing bank account with less worry about running out of cash and the additional action. That does not suggest it is best.

In this Currensea review is the excellent, the bad, the unsightly 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 Vital Strategy of 0.5% per deal, permitting us to make income from our Vital Plan whilst remaining more affordable than other pre-paid cards and high-street debit cards. We likewise charge an FX markup on ATM usage over the complimentary amount on all our plans, full details can be found on our prices strategies.

Subscription charges.
We charge a yearly subscription fee of �,� 25 for our Premium Plan, and �,� 120 for our Elite Plan. The subscription fee likewise removes all FX markup on transactions.

Interchange.
Every time you spend with your card we get a little % of the deal, called interchange, this comes directly from the merchant and will not be charged to you. Can I Use Currensea Card In Bulgaria