Can You Use Currensea Card In Thailand – Best Travel Cards

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

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

is, effectively, a direct debit travel card. It is a Mastercard which sits between you and your existing bank account. There is nothing to top-up or prepay. You just invest as you would on a typical 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 likewise assists.

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

There is a service model 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 competitors
add more and more features which your existing customers do not really desire or require

add restrictions, charges or fees to the function that made people get your item in the first place, eliminating any competitive advantage
is currently still in Phase 1 of this process and will ideally stay 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 bar in 30 seconds?’ test:

It is a free direct debit card to utilize abroad and which automatically charges all purchases to your existing current account in Sterling, less a small 0.5% charge.

That’s it.

You don’t (yet …) earn 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 fees, then you don’t need a  card, unless you desire free ATM withdrawals. You can stop checking out now.

Nevertheless, charge card which provide rewards and charge 0% FX charges are rare. The only ‘points and miles’ options which provide a partial option are the Virgin Atlantic credit cards which have 0% FX costs 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 specifically to use abroad
you want a product which allows you to make �,� 500 of foreign currency ATM withdrawals per month without any charges and just a very little 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 needs an easy, easy to understand payment card that will save them cash when taking a trip.

How does  operate in practice?
It is, as I said earlier, a very simple 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 bank account bank immediately confirms that you have adequate cash in your account and authorises the transaction.
The transaction goes through at either the interbank rate or the Mastercard rate, depending upon the currency. adds a 0.5% fee if you have the totally free card. There are no fees if you have one of their paid cards.
You get an automated spend notification by means of the app, if you choose to install it.
The cash is taken from your bank account a few days later.
Here is an example. With no foreign travel in the diary, I decided to sprinkle out and purchase 1,000 MeliaRewards points for EUR5.

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

Converting pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daylight robbery that is practically to occur (typically in a different language) while not telling you about the inflated currency conversion charges happening in the background. Do not get me started. Anyway back to the positives for a bit anyhow.

In current years a handful of excellent travel debit cards have popped onto the scene … and like other great cards Currensea promises big cost savings (85%) and a terrific app.

But I believe the 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 fret about lacking money and the extra step. However that does not indicate it is best.

In this Currensea evaluation is the great, 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 nominal FX markup on our Essential Plan of 0.5% per deal, permitting us to make income 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 usage over the complimentary quantity on all our plans, complete information can be discovered on our prices plans.

Membership costs.
We charge an annual membership charge of �,� 25 for our Premium Plan, and �,� 120 for our Elite Plan. The subscription fee also eliminates all FX markup on deals.

Interchange.
Each time you spend with your card we receive a small % of the deal, known as interchange, this comes directly from the merchant and won’t be credited you. Can You Use Currensea Card In Thailand