Currensea Free Metal Card Referral – Best Travel Cards

A brand-new fintech company which I was introduced to previously this year. Currensea Free Metal Card Referral…

It has actually won a few awards over recent months for what it does (using you an inexpensive method to spend abroad) but what I like about  is that it is basic as hell. This is an advantage.

is, efficiently, a direct debit travel card. You just spend as you would on a regular debit card and the money is taken from your existing account– just without the typical 3% cost.

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

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

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

launch by doing something well, and for free or cheaper than the competitors
add a growing number of functions which your existing clients do not actually require or want

add charges, fees or constraints to the feature 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 hopefully remain there. Curve, monzo and revolut are already in Phase 3 …
is basic enough that it passes my ‘Can you explain it to your mate in the pub in 30 seconds?’ test:

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

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% foreign exchange costs, then you don’t need a  card, unless you desire totally free ATM withdrawals. You can stop checking out now.

Credit cards which provide rewards and charge 0% FX fees are few and far in between. The only ‘miles and points’ choices which offer a partial option are the Virgin Atlantic credit cards which have 0% FX fees in the Euro zone.

IS potentially for you if:

you do not have a credit card offering 0% FX fees and do not want to impact your credit report by getting another charge card specifically to use abroad
you desire a product which permits you to make �,� 500 of foreign currency ATM withdrawals each month with no fees and only a very little FX mark-up (there is a little fee beyond �,� 500).
you want an item for you, your adult children, parents, partner or anybody else in your life who needs a basic, easy to understand payment card that will conserve them money when travelling.

How does  operate in practice?
It is, as I said earlier, a very easy process. You use your Currensea card in the same way as your existing debit card.

You make your purchase in local currency (any currency, internationally).
Your bank account bank immediately confirms 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. If you have the free card,  adds a 0.5% cost. If you have one of their paid cards, there are no fees.
You get an automated invest alert via the app, if you choose to install it.
The money is taken from your bank account a couple of 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 reveals �,� 4.33 set up to leave my HSBC account a couple of days later:.

However converting pounds was costly.

A pet peeve of mine is when ATMs forewarn you about the daylight break-in that is practically to happen (frequently in a various language) while not telling you about the exorbitant currency conversion costs taking place in the background. Do not get me began. Anyhow back to the positives for a bit anyway.

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

However 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 spend money you have in your existing bank account with less fret about lacking money and the additional step. That does not mean it is ideal.

In this Currensea review 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 Essential Plan of 0.5% per transaction, permitting us to make earnings from our Necessary Plan whilst staying much cheaper than other prepaid cards and high-street debit cards. We also charge an FX markup on ATM use over the complimentary amount on all our strategies, full details can be found on our prices plans.

Membership costs.
We charge an annual membership cost of �,� 25 for our Premium Plan, and �,� 120 for our Elite Strategy. The membership cost likewise eliminates all FX markup on transactions.

Interchange.
Whenever you spend with your card we get a small % of the transaction, referred to as interchange, this comes straight from the merchant and will not be credited you. Currensea Free Metal Card Referral