What Countries Can I Use Currensea Card – Best Travel Cards

A new fintech company which I was presented to earlier this year. What Countries Can I Use Currensea Card…

It has actually won a couple of awards over current months for what it does (offering you a low-priced way to spend abroad) but what I like about  is that it is basic as hell. This is an advantage.

is, successfully, a direct debit travel card. It is a Mastercard which sits 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– just without the typical 3% cost.

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

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

There is a company model 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 competition
add more and more functions which your existing customers don’t actually need or want

add fees, limitations or charges to the feature that made people get your item in the first place, eliminating any competitive advantage
is currently still in Phase 1 of this procedure and will ideally remain there. Monzo, revolut and curve are currently in Phase 3 …
is basic enough that it passes my ‘Can you discuss it to your mate in the pub in 30 seconds?’ test:

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

That’s it.

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

Why would I want to get a card?
If you have a credit card offering 0% forex fees, then you don’t require a  card, unless you want totally free ATM withdrawals. You can stop reading now.

However, credit cards which offer rewards and charge 0% FX costs are few and far between. The only ‘miles and points’ options which provide a partial service are the Virgin Atlantic credit cards which have 0% FX costs in the Euro zone.

IS potentially for you if:

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

How does  work in practice?
It is, as I said previously, a very easy process. You utilize 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 instantly verifies that you have enough cash in your account and authorises the deal.
The deal goes through at either the interbank rate or the Mastercard rate, depending upon the currency. includes a 0.5% cost if you have the totally free card. There are no charges if you have one of their paid cards.
You get an automatic invest alert by means of the app, if you pick to install it.
The money is drawn from your current account a couple of days later.
Here is an example. With no foreign travel in the diary, I decided to splash out and purchase 1,000 MeliaRewards points for EUR5.

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

Converting pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daylight burglary that is practically to happen (often in a various language) while not telling you about the exorbitant currency conversion costs occurring in the background. Do not get me started. Anyway back to the positives for a bit anyway.

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

But I think the best bit might be what no other card does: connects to your existing high street checking account.

What this means is you can invest cash you have in your existing current account with less fret about lacking money and the additional step. 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 Vital Plan of 0.5% per deal, enabling us to make revenue from our Essential Strategy 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 complimentary amount on all our strategies, full information can be discovered on our prices plans.

Subscription charges.
We charge an annual subscription cost of �,� 25 for our Premium Plan, and �,� 120 for our Elite Strategy. The subscription charge also gets rid of all FX markup on deals.

Interchange.
Each time you invest with your card we get a little % of the deal, known as interchange, this comes directly from the merchant and will not be charged to you. What Countries Can I Use Currensea Card