Can I Get A Currensea Card For My Daughter – Best Travel Cards

A brand-new fintech company which I was introduced to earlier this year. Can I Get A Currensea Card For My Daughter…

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

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

Oh, and  is totally free to get, which likewise helps.

There are likewise some fascinating travel benefits if you select a paid plan, but the free strategy works fine. You can apply here.

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

launch by doing something well, and free of charge or less expensive than the competition
add a growing number of functions which your existing consumers don’t actually need or want

include charges, charges or constraints to the function that made individuals get your item in the first place, removing any competitive advantage
is presently still in Phase 1 of this process and will ideally remain there. Curve, monzo and revolut are currently in Stage 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 use abroad and which instantly recharges all purchases to your existing bank account in Sterling, less a small 0.5% fee.

That’s it.

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

Why would I want to get a card?
If you have a charge card offering 0% foreign exchange costs, then you do not require a  card, unless you want complimentary ATM withdrawals. You can stop reading now.

Nevertheless, credit cards which use rewards and charge 0% FX charges are few and far between. The only ‘miles and points’ alternatives which provide a partial option are the Virgin Atlantic charge card which have 0% FX costs in the Euro zone.

IS potentially for you if:

you don’t have a credit card offering 0% FX charges and do not want to affect your credit report by getting another credit card specifically to use abroad
you desire a product which allows you to make �,� 500 of foreign currency ATM withdrawals each month with no costs and just a very little FX mark-up (there is a small cost beyond �,� 500).
you desire a product for you, your adult kids, parents, partner or anyone else in your life who needs a basic, easy to understand payment card that will save them cash when taking a trip.

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

You make your purchase in regional currency (any currency, worldwide).
Your bank account bank instantly validates that you have adequate money 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% fee. If you have one of their paid cards, there are no costs.
You get an automatic spend notice via the app, if you pick to install it.
The money is taken from your bank account a couple of days later on.
Here is an example. With no foreign travel in the diary, I chose to splash out and buy 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:.

However converting pounds was expensive.

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

Luckily in recent years a handful of excellent travel debit cards have popped onto the scene … and like other excellent cards  assures big savings (85%) and a fantastic app.

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

What this suggests is you can spend money you have in your existing bank account with less worry about running out of money and the extra step. That does not imply it is ideal.

In this Currensea review is the excellent, the bad, the unsightly and the alternatives, so that you can decide.

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

Subscription costs.
We charge an annual subscription fee of �,� 25 for our Premium Plan, and �,� 120 for our Elite Plan. The membership cost also eliminates all FX markup on transactions.

Interchange.
Each time you invest with your card we receive a little % of the deal, called interchange, this comes directly from the merchant and will not be credited you. Can I Get A Currensea Card For My Daughter