Cum Iti Faci Card Currensea – Best Travel Cards

A new fintech company which I was introduced to earlier this year. Cum Iti Faci Card Currensea…

It has actually won a few awards over current months for what it does (offering you a low-priced method to invest abroad) however what I like about  is that it is simple as hell. This is an advantage.

is, effectively, a direct debit travel card. It is a Mastercard which sits in between you and your existing bank account. There is nothing to top-up or prepay. You just spend as you would on a regular debit card and the money is taken from your bank account– just without the typical 3% charge.

Oh, and  is totally free to look for, which also helps.

There are also some intriguing travel benefits if you select a paid plan, but the free plan works fine. You can apply here.

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

launch by doing something well, and free of charge or more affordable than the competitors
add increasingly more features which your existing customers do not actually need or desire

include limitations, charges or charges to the function that made individuals get your item in the first place, eliminating any competitive advantage
is presently still in Phase 1 of this process and will ideally remain there. Monzo, curve and revolut are currently in Stage 3 …
is simple enough that it passes my ‘Can you explain it to your mate in the pub in 30 seconds?’ test:

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

That’s it.

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

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

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

IS possibly for you if:

you do not have a charge card offering 0% FX charges and do not want to impact your credit report by getting another credit card specifically to utilize abroad
you desire an item which allows you to make �,� 500 of foreign currency ATM withdrawals per month without any fees and only a very little FX mark-up (there is a little charge beyond �,� 500).
you desire an item for you, your adult kids, moms and dads, partner or anyone else in your life who needs an easy, easy to understand payment card that will save them cash when travelling.

How does  work in practice?
It is, as I stated earlier, a really basic procedure. You use your Currensea card in the same way as your existing debit card.

You make your purchase in local currency (any currency, globally).
Your current account bank automatically validates that you have adequate 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. includes a 0.5% fee if you have the free card. If you have one of their paid cards, there are no charges.
You get an automated spend alert by means of the app, if you choose to install it.
The money is drawn from your bank account a few days later.
Here is an example. Without any foreign travel in the journal, I chose to sprinkle 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 couple of days later on:.

However converting pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daytime break-in that is almost to take place (often in a different language) while not telling you about the exorbitant currency conversion charges happening in the background. Do not get me started. Anyhow back to the positives for a bit anyhow.

Thankfully over the last few years a handful of fantastic travel debit cards have popped onto the scene … and like other great cards  promises huge cost savings (85%) and a fantastic app.

But I believe the very best bit might be what no other card does: connects to your existing high street savings account.

What this indicates is you can spend cash you have in your existing bank account with less worry about lacking money and the additional action. But that does not imply it is ideal.

In this Currensea review is the excellent, the bad, the unsightly and the options, 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 transaction, enabling us to make revenue from our Vital Strategy whilst staying much cheaper than other prepaid cards and high-street debit cards. We also charge an FX markup on ATM usage over the totally free amount on all our strategies, full details can be found on our prices plans.

Subscription costs.
We charge a yearly membership cost of �,� 25 for our Premium Plan, and �,� 120 for our Elite Plan. The subscription fee also gets rid of all FX markup on deals.

Interchange.
Whenever you spend with your card we receive a little % of the deal, referred to as interchange, this comes directly from the merchant and won’t be charged to you. Cum Iti Faci Card Currensea