Where Can You Use Currensea Card – Best Travel Cards

A new fintech company which I was introduced to earlier this year. Where Can You Use Currensea Card…

It has actually won a few awards over recent months for what it does (using you a low-cost method to spend 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 between you and your existing current account. There is absolutely nothing to top-up or prepay. You merely spend as you would on a normal debit card and the money is taken from your bank account– just without the usual 3% charge.

Oh, and  is totally free to apply for, which also assists.

There are likewise some intriguing travel advantages if you pick a paid plan, but the totally free plan works fine. You can use here.

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

launch by doing something well, and free of charge or more affordable than the competition
add increasingly more features which your existing customers don’t truly desire or need

include charges, costs or constraints to the feature that made people get your item in the first place, removing any competitive advantage
is presently still in Phase 1 of this procedure and will ideally stay there. Monzo, revolut and curve are already in Phase 3 …
is easy enough that it passes my ‘Can you discuss it to your mate in the club in 30 seconds?’ test:

It is a complimentary direct debit card to utilize abroad and which automatically charges all purchases to your existing bank account in Sterling, less a small 0.5% charge.

That’s it.

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

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

However, credit cards which use rewards and charge 0% FX costs are rare. The only ‘points and miles’ choices which use a partial solution are the Virgin Atlantic credit cards which have 0% FX charges in the Euro zone.

IS potentially for you if:

you do not have a credit card offering 0% FX charges and do not wish to impact your credit report by getting another charge card specifically to utilize abroad
you want a product 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 small charge beyond �,� 500).
you desire a product for you, your adult kids, moms and dads, partner or anybody else in your life who needs a basic, easy to understand payment card that will save them cash when travelling.

How does  operate in practice?
It is, as I said earlier, a very easy process. You utilize your Currensea card in the same way as your existing debit card.

You make your purchase in local currency (any currency, internationally).
Your current account bank immediately confirms that you have adequate money in your account and authorises the transaction.
The deal goes through at either the interbank rate or the Mastercard rate, depending upon the currency. includes a 0.5% fee if you have the totally free card. There are no fees if you have among their paid cards.
You get an automatic spend alert through the app, if you pick to install it.
The cash is taken from your current account a few days later.
Here is an example. With no foreign travel in the journal, I chose to splash out and buy 1,000 MeliaRewards points for EUR5.

This is what you see in the Currensea app, which reveals �,� 4.33 scheduled 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 robbery that is just about to happen (often in a different language) while not telling you about the outrageous currency conversion charges occurring in the background. Do not get me started. Anyway back to the positives for a bit anyway.

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

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

What this indicates is you can invest cash you have in your existing current account with less stress over lacking money and the extra action. That does not indicate it is ideal.

In this Currensea review is the great, the bad, the awful 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 Vital Plan of 0.5% per transaction, permitting us to make earnings from our Important Strategy whilst remaining more affordable than other pre-paid cards and high-street debit cards. We also charge an FX markup on ATM use over the complimentary amount on all our strategies, complete information can be discovered on our prices strategies.

Membership fees.
We charge an annual membership cost of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Strategy. The membership fee also gets rid of all FX markup on transactions.

Interchange.
Every time you invest with your card we receive a small % of the deal, referred to as interchange, this comes straight from the merchant and will not be charged to you. Where Can You Use Currensea Card