Currensea Card Refund – Best Travel Cards

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

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

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

Oh, and  is totally free to get, which also assists.

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

There is an organization model in fintech which Curve, Revolut, Monzo etc have all followed:

launch by doing something well, and totally free or more affordable than the competitors
add increasingly more functions which your existing consumers do not actually want or require

include charges, fees or restrictions to the function that made individuals 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. Curve, Revolut and Monzo are already in Stage 3 …
is easy enough that it passes my ‘Can you discuss it to your mate in the pub in 30 seconds?’ test:

It is a totally free direct debit card to utilize abroad and which instantly recharges all purchases to your existing bank account in Sterling, less a small 0.5% charge.

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% forex fees, then you don’t need a  card, unless you want totally free ATM withdrawals. You can stop reading now.

Credit cards which use benefits and charge 0% FX costs are few and far between. The only ‘miles and points’ alternatives which provide a partial option are the Virgin Atlantic credit cards which have 0% FX charges in the Euro zone.

IS perhaps for you if:

you don’t have a charge card offering 0% FX fees and do not wish to affect your credit report by getting another charge card specifically to use abroad
you desire a product which enables you to make �,� 500 of foreign currency ATM withdrawals each month without any fees and just a minimal FX mark-up (there is a small charge beyond �,� 500).
you want a product for you, your adult children, moms and dads, partner or anyone else in your life who needs an easy, easy to understand payment card that will save them money when taking a trip.

How does  work in practice?
It is, as I said earlier, a very 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 immediately verifies 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. adds a 0.5% fee if you have the complimentary card. There are no fees if you have among their paid cards.
You get an automated invest alert by means of the app, if you select to install it.
The money is drawn from your current account a few days later.
Here is an example. Without any foreign travel in the diary, I decided to splash out and buy 1,000 MeliaRewards points for EUR5.

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

But transforming pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daylight break-in that is practically to take place (frequently in a different language) while not telling you about the inflated currency conversion charges happening in the background. Don’t get me began. Anyhow back to the positives for a bit anyway.

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

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

What this suggests is you can spend cash you have in your existing bank account with less worry about running out of cash and the additional action. However that does not mean it is perfect.

In this Currensea review is the great, the bad, the awful 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 Necessary Strategy of 0.5% per transaction, permitting us to make income from our Necessary Plan whilst remaining much cheaper than other prepaid cards and high-street debit cards. We also charge an FX markup on ATM usage over the free amount on all our strategies, complete details can be found on our prices plans.

Subscription charges.
We charge an annual subscription charge of �,� 25 for our Premium Plan, and �,� 120 for our Elite Plan. The membership charge also gets rid of all FX markup on deals.

Interchange.
Whenever you invest with your card we receive a small % of the transaction, known as interchange, this comes straight from the merchant and will not be credited you. Currensea Card Refund