Can I Use My Currensea Card In The Uk – Best Travel Cards

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

It has won a couple of awards over current months for what it does (offering you a low-priced method to spend 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 nothing to top-up or prepay. You merely invest as you would on a normal debit card and the cash is taken from your current account– just without the usual 3% cost.

Oh, and  is totally free to obtain, which also assists.

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

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

launch by doing one thing well, and totally free or less expensive than the competitors
add increasingly more functions which your existing customers do not truly need or desire

include charges, constraints or charges to the function that made people get your item in the first place, removing any competitive advantage
is currently still in Phase 1 of this process and will ideally remain there. Revolut, monzo and curve are already in Phase 3 …
is basic enough that it passes my ‘Can you discuss it to your mate in the pub in 30 seconds?’ test:

It is a totally free direct debit card to utilize abroad and which instantly recharges all purchases to your existing bank account in Sterling, less a small 0.5% charge.

That’s it.

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

Why would I want to get a card?
If you have a charge card offering 0% forex charges, then you do not require a  card, unless you want complimentary ATM withdrawals. You can stop checking out now.

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

IS potentially for you if:

you do not have a credit card offering 0% FX fees and do not wish to impact your credit report by getting another charge card particularly to utilize abroad
you want a product which allows you to make �,� 500 of foreign currency ATM withdrawals each month with no fees and only a very little FX mark-up (there is a small charge beyond �,� 500).
you want a product for you, your adult children, moms and dads, partner or anybody else in your life who requires a basic, easy to understand payment card that will conserve them money when travelling.

How does  work in practice?
It is, as I said previously, an extremely 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 instantly validates that you have sufficient cash in your account and authorises the deal.
The transaction goes through at either the interbank rate or the Mastercard rate, depending on the currency. adds a 0.5% cost if you have the complimentary card. There are no fees if you have one of their paid cards.
You get an automatic spend alert via the app, if you pick to install it.
The cash is taken from your current account a couple of days later.
Here is an example. Without any foreign travel in the diary, I chose to sprinkle 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:.

But transforming pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daylight burglary that is almost to occur (often in a various language) while not telling you about the inflated currency conversion charges happening in the background. Do not get me began. Anyway back to the positives for a bit anyway.

Luckily in the last few years a handful of excellent travel debit cards have actually popped onto the scene … and like other terrific cards  guarantees big savings (85%) and an excellent app.

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

What this means is you can invest cash you have in your existing bank account with less stress over lacking money and the extra step. But that does not mean it is perfect.

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

FX markup.
While our premium plans have no FX markup, we charge a small FX markup on our Vital Plan of 0.5% per transaction, enabling us to make profits from our Vital Plan whilst staying more affordable than other pre-paid cards and high-street debit cards. We likewise charge an FX markup on ATM use over the free amount on all our plans, full information can be found on our prices strategies.

Subscription costs.
We charge a yearly subscription charge of �,� 25 for our Premium Plan, and �,� 120 for our Elite Plan. The subscription charge also eliminates all FX markup on transactions.

Interchange.
Each time you invest with your card we get a small % of the deal, known as interchange, this comes directly from the merchant and will not be charged to you. Can I Use My Currensea Card In The Uk