Get Currensea Card – Best Travel Cards

A brand-new fintech business which I was introduced to earlier this year. Get Currensea Card…

It has won a few awards over current months for what it does (providing you a low-cost way to invest abroad) however what I like about  is that it is basic as hell. This is an advantage.

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

Oh, and  is totally free to look for, which also helps.

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

There is a service design in fintech which Curve, Revolut, Monzo etc have all followed:

launch by doing something well, and totally free or less expensive than the competitors
add increasingly more functions which your existing clients don’t really need or desire

add costs, limitations or charges to the feature that made people get your item in the first place, removing any competitive advantage
is currently still in Phase 1 of this process and will ideally stay there. Revolut, monzo and curve are already in Phase 3 …
is easy enough that it passes my ‘Can you describe it to your mate in the bar in 30 seconds?’ test:

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

That’s it.

You do not (yet …) earn any airline company miles or points for using it.

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

Credit cards which use rewards and charge 0% FX fees are couple of and far in between. The only ‘miles and points’ choices which provide a partial service are the Virgin Atlantic charge card which have 0% FX fees in the Euro zone.

IS potentially for you if:

you don’t have a credit card offering 0% FX charges and do not wish to affect your credit report by getting another charge card specifically to utilize abroad
you desire an item which permits you to make �,� 500 of foreign currency ATM withdrawals monthly without any charges and only a minimal FX mark-up (there is a little cost beyond �,� 500).
you desire a product for you, your adult kids, parents, partner or anyone else in your life who requires a basic, easy to understand payment card that will conserve them cash when taking a trip.

How does  work in practice?
It is, as I said previously, a very basic procedure. You use your Currensea card in the same way as your existing debit card.

You make your purchase in regional currency (any currency, internationally).
Your current account bank immediately confirms that you have adequate cash in your account and authorises the deal.
The transaction goes through at either the interbank rate or the Mastercard rate, depending upon the currency. includes a 0.5% charge if you have the free card. If you have one of their paid cards, there are no charges.
You get an automatic spend notice by means of the app, if you pick to install it.
The cash is drawn from your current account a couple of days later.
Here is an example. With no foreign travel in the journal, I decided to splash out and buy 1,000 MeliaRewards points for EUR5.

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

However transforming pounds was costly.

A pet peeve of mine is when ATMs forewarn you about the daytime burglary that is just about to take place (frequently in a different language) while not telling you about the inflated currency conversion fees occurring in the background. Do not get me started. Anyhow back to the positives for a bit anyhow.

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

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

What this means is you can invest money you have in your existing bank account with less stress over lacking money and the additional step. That does not suggest it is best.

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

FX markup.
While our premium strategies have no FX markup, we charge a nominal FX markup on our Necessary Strategy of 0.5% per deal, permitting us to make income from our Necessary Strategy whilst staying more affordable than other pre-paid cards and high-street debit cards. We also charge an FX markup on ATM usage over the totally free amount on all our plans, full details can be found on our pricing plans.

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

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