Can I Use My Currensea Card In Lloyds – Best Travel Cards

A brand-new fintech business which I was introduced to previously this year. Can I Use My Currensea Card In Lloyds…

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

is, efficiently, 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 merely spend as you would on a regular debit card and the money is taken from your bank account– simply without the usual 3% charge.

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

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

There is a company model in fintech which Curve, Revolut, Monzo and so on have actually all followed:

launch by doing something well, and free of charge or more affordable than the competitors
include more and more functions which your existing consumers do not really desire or require

include costs, charges or limitations to the function that made individuals get your product in the first place, eliminating any competitive advantage
is currently still in Phase 1 of this process and will ideally remain there. Revolut, monzo and curve are already in Stage 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 free direct debit card to use abroad and which immediately charges all purchases to your existing current account in Sterling, less a small 0.5% charge.

That’s it.

You don’t (yet …) make any airline miles or points for using it.

Why would I wish to get a card?
If you have a credit card offering 0% foreign exchange charges, then you don’t need a  card, unless you want free ATM withdrawals. You can stop checking out now.

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

IS perhaps for you if:

you do not have a charge card offering 0% FX charges and do not wish to impact your credit report by getting another credit card particularly to use abroad
you want an item which enables you to make �,� 500 of foreign currency ATM withdrawals monthly without any fees and only a minimal FX mark-up (there is a little fee beyond �,� 500).
you want a product for you, your adult children, moms and dads, partner or anyone else in your life who needs an easy, easy to understand payment card that will conserve them money when travelling.

How does  operate in practice?
It is, as I stated previously, a very simple process. You use your Currensea card in the same way as your existing debit card.

You make your purchase in local currency (any currency, globally).
Your bank account bank immediately verifies that you have sufficient 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 totally free card,  adds a 0.5% charge. If you have one of their paid cards, there are no costs.
You get an automatic spend alert through the app, if you pick 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 splash out and purchase 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 converting pounds was costly.

A pet peeve of mine is when ATMs forewarn you about the daylight burglary that is almost to happen (frequently in a different language) while not telling you about the exorbitant currency conversion charges occurring in the background. Do not get me started. Anyhow back to the positives for a bit anyway.

Thankfully in the last few years a handful of great travel debit cards have popped onto the scene … and like other great cards  assures huge cost savings (85%) and an excellent app.

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

What this means is you can spend money you have in your existing bank account with less fret about running out of money and the extra action. However that does not mean it is ideal.

In this Currensea review is the good, the bad, the ugly and the options, so that you can choose.

FX markup.
While our premium plans have no FX markup, we charge a small FX markup on our Necessary Plan of 0.5% per transaction, allowing us to make income from our Essential Plan whilst remaining much cheaper than other pre-paid cards and high-street debit cards. We likewise charge an FX markup on ATM use over the totally free amount on all our strategies, complete details can be discovered on our prices strategies.

Subscription costs.
We charge a yearly membership charge of �,� 25 for our Premium Plan, and �,� 120 for our Elite Plan. The membership fee also removes all FX markup on deals.

Interchange.
Every time you spend with your card we receive a little % of the transaction, referred to as interchange, this comes straight from the merchant and won’t be charged to you. Can I Use My Currensea Card In Lloyds