Currensea Card Tunisia – Best Travel Cards

A new fintech company which I was introduced to previously this year. Currensea Card Tunisia…

It has won a few awards over recent months for what it does (providing you an affordable way to invest abroad) but what I like about  is that it is basic as hell. This is a good thing.

is, effectively, a direct debit travel card. It is a Mastercard which sits in between you and your existing bank account. There is absolutely nothing to top-up or prepay. You merely invest as you would on a typical debit card and the cash is taken from your current account– simply without the usual 3% charge.

Oh, and  is totally free to obtain, which likewise assists.

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

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

launch by doing something well, and for free or cheaper than the competition
add increasingly more functions which your existing clients do not really require or want

include limitations, costs or charges to the function that made people get your item in the first place, getting rid of any competitive advantage
is currently still in Stage 1 of this procedure and will ideally stay there. Revolut, monzo and curve are currently in Phase 3 …
is simple 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 utilize abroad and which immediately recharges all purchases to your existing bank account in Sterling, less a small 0.5% fee.

That’s it.

You don’t (yet …) make 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 costs, then you don’t require a  card, unless you want complimentary ATM withdrawals. You can stop reading now.

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

IS perhaps for you if:

you don’t have a credit 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 an item which allows you to make �,� 500 of foreign currency ATM withdrawals each month without any fees and only a very little FX mark-up (there is a small charge beyond �,� 500).
you desire a product for you, your adult children, moms and dads, partner or anyone else in your life who requires a basic, easy to understand payment card that will save them cash when travelling.

How does  operate in practice?
It is, as I said earlier, an extremely simple procedure. You utilize your Currensea card in the same way as your existing debit card.

You make your purchase in regional currency (any currency, globally).
Your bank account bank instantly verifies that you have enough money in your account and authorises the transaction.
The transaction goes through at either the interbank rate or the Mastercard rate, depending on the currency. includes a 0.5% charge if you have the free card. There are no charges if you have one of their paid cards.
You get an automated invest notification through the app, if you choose to install it.
The money is drawn from your bank account a few days later on.
Here is an example. With no foreign travel in the diary, I chose 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:.

Transforming pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daytime break-in that is practically to take place (typically in a different language) while not telling you about the expensive currency conversion costs occurring in the background. Don’t get me began. Anyhow back to the positives for a bit anyhow.

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

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

What this indicates is you can spend cash you have in your existing bank account with less stress over running out of money and the additional step. That does not mean it is best.

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

FX markup.
While our premium plans have no FX markup, we charge a small FX markup on our Important Plan of 0.5% per deal, permitting us to make revenue from our Necessary Strategy whilst remaining much cheaper than other prepaid cards and high-street debit cards. We likewise charge an FX markup on ATM usage over the complimentary quantity on all our strategies, full information can be found on our prices plans.

Membership charges.
We charge a yearly subscription charge of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Strategy. The membership cost also removes all FX markup on deals.

Interchange.
Every time you spend with your card we receive a little % of the deal, called interchange, this comes directly from the merchant and will not be credited you. Currensea Card Tunisia