Can You Have More Than One Currensea Card – Best Travel Cards

A new fintech business which I was introduced to earlier this year. Can You Have More Than One Currensea Card…

It has won a few awards over recent months for what it does (providing you an affordable way to spend abroad) however what I like about  is that it is basic as hell. This is a good thing.

is, effectively, a direct debit travel card. You just spend as you would on a typical debit card and the money is taken from your existing account– simply without the typical 3% charge.

Oh, and  is complimentary to get, which likewise assists.

There are also some fascinating travel benefits if you choose a paid strategy, however the free plan works fine. You can use here.

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

launch by doing something well, and for free or more affordable than the competitors
add a growing number of features which your existing clients do not really need or want

add fees, constraints or charges to the feature that made individuals 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 stay there. Revolut, curve and monzo are currently in Phase 3 …
is basic enough that it passes my ‘Can you discuss 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 little 0.5% fee.

That’s it.

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

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

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

IS perhaps for you if:

you don’t have a charge card offering 0% FX fees and do not wish to impact your credit report by getting another credit card particularly to use abroad
you desire an item which enables you to make �,� 500 of foreign currency ATM withdrawals monthly with no costs and only a minimal FX mark-up (there is a small charge beyond �,� 500).
you desire a product for you, your adult kids, parents, partner or anybody else in your life who requires a simple, easy to understand payment card that will conserve them money when taking a trip.

How does  work in practice?
It is, as I stated earlier, an extremely simple procedure. You utilize your Currensea card in the same way as your existing debit card.

You make your purchase in regional currency (any currency, globally).
Your bank account bank instantly 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 on the currency. If you have the totally free card,  includes a 0.5% cost. There are no charges if you have among their paid cards.
You get an automatic invest notification via the app, if you pick to install it.
The money is drawn from your current account a few days later.
Here is an example. With no foreign travel in the journal, I chose 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:.

Transforming pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daytime robbery that is almost to happen (typically in a various language) while not telling you about the outrageous currency conversion charges occurring in the background. Don’t get me started. Anyhow back to the positives for a bit anyhow.

Luckily in recent years a handful of terrific travel debit cards have actually popped onto the scene … and like other great cards  assures big savings (85%) and a terrific app.

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

What this means is you can spend cash you have in your existing current account with less worry about running out of money and the additional step. But that does not mean it is best.

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

FX markup.
While our premium strategies have no FX markup, we charge a nominal FX markup on our Necessary Strategy of 0.5% per transaction, allowing us to make income from our Important Strategy whilst remaining much cheaper than other pre-paid cards and high-street debit cards. We also charge an FX markup on ATM use over the totally free quantity on all our strategies, full information can be found on our pricing plans.

Subscription charges.
We charge a yearly subscription cost of �,� 25 for our Premium Plan, and �,� 120 for our Elite Strategy. The subscription cost likewise gets rid of all FX markup on deals.

Interchange.
Every time you invest with your card we get a small % of the deal, known as interchange, this comes straight from the merchant and won’t be charged to you. Can You Have More Than One Currensea Card