Can You Top Up Currensea With Credit Card – Best Travel Cards

A new fintech company which I was presented to earlier this year. Can You Top Up Currensea With Credit Card…

It has won a couple of awards over recent months for what it does (offering you an affordable method to invest abroad) but what I like about  is that it is basic as hell. This is an advantage.

is, efficiently, a direct debit travel card. It is a Mastercard which sits in between you and your existing bank account. There is absolutely nothing to top-up or prepay. You simply spend as you would on a regular debit card and the money is drawn from your current account– just without the usual 3% fee.

Oh, and  is complimentary to request, which also helps.

There are likewise some interesting travel advantages if you select a paid strategy, however the free plan works fine. You can apply here.

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

launch by doing something well, and totally free or cheaper than the competition
include a growing number of features which your existing customers do not really desire or need

add charges, costs or limitations to the feature 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. Curve, Revolut and Monzo are already in Phase 3 …
is simple enough that it passes my ‘Can you discuss it to your mate in the club in 30 seconds?’ test:

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

That’s it.

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

Why would I want to get a card?
If you have a charge card offering 0% foreign exchange charges, then you do not need a  card, unless you desire 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 ‘miles and points’ alternatives which use a partial option 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 credit card offering 0% FX costs and do not want to impact your credit report by getting another charge card specifically to use abroad
you want a product which enables you to make �,� 500 of foreign currency ATM withdrawals per month with no charges and just a minimal FX mark-up (there is a small cost beyond �,� 500).
you want a product for you, your adult children, parents, partner or anybody else in your life who needs a simple, easy to understand payment card that will conserve them money when taking a trip.

How does  operate in practice?
It is, as I stated previously, a very easy procedure. You utilize 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 instantly confirms that you have enough money in your account and authorises the deal.
The deal goes through at either the interbank rate or the Mastercard rate, depending on the currency. If you have the free card,  adds a 0.5% charge. If you have one of their paid cards, there are no charges.
You get an automated invest alert by means of the app, if you choose to install it.
The cash is drawn from your current account a couple of days later on.
Here is an example. With no foreign travel in the diary, I chose to splash out and purchase 1,000 MeliaRewards points for EUR5.

This is what you see in the Currensea app, which reveals �,� 4.33 arranged to leave my HSBC account a few days later:.

However converting pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daylight break-in that is almost to happen (frequently in a various language) while not telling you about the exorbitant currency conversion costs occurring in the background. Don’t get me started. Anyhow back to the positives for a bit anyway.

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

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

What this means is you can invest money you have in your existing bank account with less worry about lacking money and the additional action. That does not mean it is perfect.

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

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

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

Interchange.
Every time you spend with your card we get a little % of the deal, known as interchange, this comes directly from the merchant and will not be charged to you. Can You Top Up Currensea With Credit Card