Currensea Junior Card Contactless – Best Travel Cards

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

It has won a couple of awards over current months for what it does (using you a low-cost method to invest abroad) however what I like about  is that it is easy as hell. This is a good thing.

is, successfully, 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 simply invest as you would on a regular debit card and the cash is drawn from your current account– simply without the typical 3% cost.

Oh, and  is complimentary to get, which also helps.

There are also some fascinating travel advantages if you pick a paid plan, however the totally free strategy works fine. You can use here.

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

launch by doing one thing well, and for free or more affordable than the competition
include a growing number of functions which your existing clients do not truly need or want

include limitations, costs or charges to the feature that made individuals get your product in the first place, getting rid of any competitive advantage
is currently still in Stage 1 of this process and will ideally stay there. Curve, Revolut and Monzo 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 utilize abroad and which instantly charges all purchases to your existing bank account in Sterling, less a little 0.5% charge.

That’s it.

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

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

However, charge card which provide rewards and charge 0% FX fees are few and far between. The only ‘points and miles’ alternatives which use 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 credit card offering 0% FX costs and do not want to impact your credit report by getting another charge card specifically to use abroad
you desire an item which enables you to make �,� 500 of foreign currency ATM withdrawals each month with no charges and only a very little FX mark-up (there is a little charge beyond �,� 500).
you desire an item for you, your adult kids, parents, partner or anybody else in your life who requires an easy, easy to understand payment card that will conserve them money when taking a trip.

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

You make your purchase in regional currency (any currency, worldwide).
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 on the currency. If you have the complimentary card,  adds a 0.5% charge. If you have one of their paid cards, there are no fees.
You get an automated spend notice through the app, if you select to install it.
The money is drawn from your current account a few days later on.
Here is an example. Without any foreign travel in the diary, I decided to sprinkle out and purchase 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:.

But transforming pounds was costly.

A pet peeve of mine is when ATMs forewarn you about the daytime burglary that is almost to occur (often in a different language) while not telling you about the exorbitant currency conversion fees happening in the background. Don’t get me started. Anyway back to the positives for a bit anyhow.

Fortunately recently a handful of great travel debit cards have popped onto the scene … and like other great cards  promises huge savings (85%) and an excellent app.

However I think the very best bit might be what no other card does: links to your existing high street bank account.

What this means is you can spend cash you have in your existing current account with less stress over running out of money and the additional step. But that does not indicate it is perfect.

In this Currensea review is the good, the bad, the unsightly and the alternatives, so that you can choose.

FX markup.
While our premium strategies have no FX markup, we charge a nominal FX markup on our Important Strategy of 0.5% per transaction, permitting us to make earnings from our Important Plan whilst staying much cheaper 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 strategies, complete information can be found on our rates strategies.

Subscription fees.
We charge an annual subscription cost of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Plan. The subscription fee also eliminates all FX markup on transactions.

Interchange.
Every time you invest with your card we get a little % of the deal, called interchange, this comes straight from the merchant and won’t be credited you. Currensea Junior Card Contactless