Get Physical Currensea Card – Best Travel Cards

A brand-new fintech company which I was presented to earlier this year. Get Physical Currensea Card…

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

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

Oh, and  is free to get, which likewise assists.

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

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

launch by doing one thing well, and for free or less expensive than the competition
include more and more functions which your existing consumers do not truly need or desire

add constraints, charges or fees to the feature that made individuals get your product in the first place, getting rid of any competitive advantage
is presently still in Stage 1 of this procedure and will ideally stay there. Monzo, revolut and curve are already 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 totally free direct debit card to use abroad and which instantly charges all purchases to your existing bank account in Sterling, less a little 0.5% cost.

That’s it.

You do not (yet …) make any airline miles or points for utilizing it.

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

Nevertheless, credit cards which use benefits and charge 0% FX charges are few and far between. The only ‘miles and points’ options which use a partial solution 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 charge card offering 0% FX charges and do not want to affect 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 per month with no charges and just a very little FX mark-up (there is a little charge beyond �,� 500).
you want a product for you, your adult kids, moms and dads, partner or anyone else in your life who needs a simple, easy to understand payment card that will save them money when travelling.

How does  work in practice?
It is, as I stated previously, a very simple 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 cash in your account and authorises the transaction.
The transaction goes through at either the interbank rate or the Mastercard rate, depending upon the currency. If you have the totally free card,  adds a 0.5% cost. If you have one of their paid cards, there are no costs.
You get an automated invest notification via the app, if you choose 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 diary, I decided to splash out and buy 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 pricey.

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

Thankfully over the last few years a handful of excellent travel debit cards have popped onto the scene … and like other fantastic cards  guarantees huge savings (85%) and a terrific app.

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

What this means is you can invest cash you have in your existing current account with less stress over running out of cash and the extra action. However that does not mean 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 plans have no FX markup, we charge a small FX markup on our Vital Plan of 0.5% per deal, enabling us to make profits from our Vital Plan whilst remaining much cheaper than other prepaid cards and high-street debit cards. We also charge an FX markup on ATM use over the complimentary quantity on all our plans, complete information can be found on our prices plans.

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

Interchange.
Whenever you invest with your card we get a little % of the transaction, called interchange, this comes straight from the merchant and won’t be charged to you. Get Physical Currensea Card