Can You Use A Currensea Card In Russia – Best Travel Cards

A brand-new fintech company which I was presented to previously this year. Can You Use A Currensea Card In Russia…

It has won a couple of awards over current months for what it does (using you an inexpensive method to invest abroad) however 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 between you and your existing current account. There is nothing to top-up or prepay. You just spend as you would on a regular debit card and the cash is taken from your current account– just without the usual 3% fee.

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

There are also some intriguing travel benefits if you pick a paid plan, however the complimentary plan works fine. You can use here.

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

launch by doing something well, and for free or more affordable than the competition
include increasingly more functions which your existing consumers don’t really desire or need

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

It is a totally free direct debit card to use abroad and which immediately recharges all purchases to your existing current account in Sterling, less a little 0.5% charge.

That’s it.

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

Why would I wish to get a card?
If you have a credit card offering 0% foreign exchange fees, then you do not require a  card, unless you want free ATM withdrawals. You can stop reading now.

However, charge card which provide benefits and charge 0% FX fees are scarce. The only ‘points and miles’ options which offer a partial option are the Virgin Atlantic charge card which have 0% FX costs in the Euro zone.

IS possibly for you if:

you don’t have a charge card offering 0% FX costs and do not want to affect your credit report by getting another charge card specifically to utilize abroad
you desire an item which allows you to make �,� 500 of foreign currency ATM withdrawals monthly without any charges and only a very little FX mark-up (there is a little cost beyond �,� 500).
you desire an item for you, your adult kids, parents, partner or anybody else in your life who requires a basic, easy to understand payment card that will save them money when taking a trip.

How does  operate in practice?
It is, as I said previously, a very easy process. 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 current account bank immediately confirms that you have enough cash in your account and authorises the transaction.
The transaction goes through at either the interbank rate or the Mastercard rate, depending on the currency. adds a 0.5% fee if you have the free card. There are no charges if you have among their paid cards.
You get an automated spend alert through the app, if you choose 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 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 set up 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 daytime break-in that is practically to happen (typically 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.

In recent years a handful of great travel debit cards have popped onto the scene … and like other excellent cards Currensea guarantees huge cost savings (85%) and an excellent app.

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

What this implies is you can invest cash you have in your existing current account with less fret about lacking cash and the additional step. That does not suggest it is perfect.

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

FX markup.
While our premium strategies have no FX markup, we charge a nominal FX markup on our Vital Strategy of 0.5% per transaction, allowing us to make earnings from our Vital Strategy whilst staying more affordable than other prepaid cards and high-street debit cards. We also charge an FX markup on ATM use over the totally free quantity on all our plans, full information can be discovered on our pricing plans.

Subscription charges.
We charge an annual subscription fee of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Plan. The subscription charge also removes all FX markup on transactions.

Interchange.
Whenever you spend with your card we get a small % of the transaction, called interchange, this comes directly from the merchant and will not be credited you. Can You Use A Currensea Card In Russia