Currensea Request Card – Best Travel Cards

A new fintech company which I was presented to previously this year. Currensea Request Card…

It has won a few awards over recent months for what it does (using you a low-cost method to spend abroad) but what I like about  is that it is easy as hell. This is a good thing.

is, successfully, a direct debit travel card. You just spend as you would on a typical debit card and the cash is taken from your present account– simply without the typical 3% fee.

Oh, and  is complimentary to look for, which also helps.

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

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

launch by doing one thing well, and totally free or less expensive than the competitors
include increasingly more features which your existing clients don’t actually need or want

include costs, constraints or charges to the function that made individuals get your item in the first place, removing any competitive advantage
is currently still in Stage 1 of this procedure and will ideally remain there. Revolut, curve and monzo are already in Phase 3 …
is easy enough that it passes my ‘Can you describe it to your mate in the club in 30 seconds?’ test:

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

That’s it.

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

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

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

IS perhaps for you if:

you don’t have a credit card offering 0% FX costs and do not wish to impact your credit report by getting another credit card specifically to use abroad
you want a product which enables you to make �,� 500 of foreign currency ATM withdrawals each month with no fees and only a minimal FX mark-up (there is a little cost beyond �,� 500).
you desire an item for you, your adult children, moms and dads, partner or anyone else in your life who needs a basic, easy to understand payment card that will conserve them cash when travelling.

How does  operate in practice?
It is, as I stated earlier, a really simple 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 confirms that you have enough money 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,  includes a 0.5% charge. If you have one of their paid cards, there are no charges.
You get an automated spend alert by means of the app, if you select to install it.
The money is drawn from your bank account a couple of days later.
Here is an example. Without any foreign travel in the journal, I chose to splash out and purchase 1,000 MeliaRewards points for EUR5.

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

Transforming pounds was expensive.

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

In current years a handful of great travel debit cards have popped onto the scene … and like other terrific cards Currensea promises big savings (85%) and a fantastic app.

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

What this implies is you can invest cash you have in your existing bank account with less stress over running out of money and the extra step. However that does not imply it is best.

In this Currensea evaluation is the excellent, the bad, the unsightly and the alternatives, 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 income from our Important Plan whilst remaining much cheaper than other pre-paid cards and high-street debit cards. We likewise charge an FX markup on ATM usage over the totally free quantity on all our plans, complete information can be discovered on our pricing plans.

Subscription charges.
We charge a yearly membership cost of �,� 25 for our Premium Plan, and �,� 120 for our Elite Plan. The membership fee also gets rid of all FX markup on deals.

Interchange.
Whenever you invest with your card we receive a little % of the deal, known as interchange, this comes directly from the merchant and will not be credited you. Currensea Request Card