Currensea Add Top Up Card – Best Travel Cards

A brand-new fintech business which I was presented to previously this year. Currensea Add Top Up Card…

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

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

Oh, and  is totally free to make an application for, which also helps.

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

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

launch by doing one thing well, and for free or cheaper than the competitors
include increasingly more functions which your existing customers don’t truly desire or need

include limitations, fees or charges to the function that made individuals get your item in the first place, getting rid of any competitive advantage
is presently still in Stage 1 of this process and will ideally stay there. Curve, monzo and revolut are currently in Stage 3 …
is basic enough that it passes my ‘Can you discuss it to your mate in the pub in 30 seconds?’ test:

It is a complimentary direct debit card to utilize abroad and which instantly recharges all purchases to your existing current account in Sterling, less a little 0.5% fee.

That’s it.

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

Why would I wish to get a card?
If you have a charge card offering 0% forex charges, then you don’t need a  card, unless you desire complimentary ATM withdrawals. You can stop checking out now.

However, credit cards which offer rewards and charge 0% FX charges are scarce. The only ‘miles and points’ options which offer 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 credit card offering 0% FX charges and do not wish to affect your credit report by getting another charge card specifically to utilize abroad
you want a product which enables you to make �,� 500 of foreign currency ATM withdrawals per month without any fees and only a minimal FX mark-up (there is a little cost beyond �,� 500).
you want an item for you, your adult kids, moms and dads, partner or anybody else in your life who needs an easy, easy to understand payment card that will save them money when taking a trip.

How does  operate in practice?
It is, as I said earlier, an extremely basic procedure. 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 instantly confirms that you have sufficient cash in your account and authorises the deal.
The deal goes through at either the interbank rate or the Mastercard rate, depending upon the currency. includes a 0.5% cost if you have the free card. If you have one of their paid cards, there are no fees.
You get an automated spend notification through the app, if you choose to install it.
The money is taken 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 arranged to leave my HSBC account a few days later:.

But converting pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daytime break-in that is almost to occur (often in a various language) while not telling you about the outrageous currency conversion costs happening in the background. Don’t get me started. Anyway back to the positives for a bit anyway.

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

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

What this means is you can invest cash you have in your existing bank account with less fret about lacking cash and the extra action. But that does not mean it is ideal.

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

FX markup.
While our premium strategies have no FX markup, we charge a small FX markup on our Vital Plan of 0.5% per transaction, permitting us to make income from our Important Plan whilst staying more affordable than other prepaid cards and high-street debit cards. We likewise charge an FX markup on ATM usage over the totally free amount on all our plans, full information can be found on our pricing strategies.

Subscription fees.
We charge a yearly subscription cost of �,� 25 for our Premium Plan, and �,� 120 for our Elite Strategy. The subscription cost likewise removes all FX markup on transactions.

Interchange.
Whenever you spend with your card we receive a small % of the transaction, referred to as interchange, this comes directly from the merchant and won’t be charged to you. Currensea Add Top Up Card