Can I Have A Secondary Card With Currensea – Best Travel Cards

A brand-new fintech business which I was introduced to earlier this year. Can I Have A Secondary Card With Currensea…

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

is, efficiently, a direct debit travel card. You merely spend as you would on a typical debit card and the money is taken from your present account– just without the normal 3% charge.

Oh, and  is free to request, which also assists.

There are also some fascinating travel benefits if you select a paid plan, however the totally free strategy works fine. You can use here.

There is a business design 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 competitors
include more and more functions which your existing customers do not truly want or need

add charges, costs or restrictions to the function 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 hopefully stay there. Revolut, curve and monzo are currently in Stage 3 …
is simple enough that it passes my ‘Can you discuss it to your mate in the bar in 30 seconds?’ test:

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

That’s it.

You don’t (yet …) make any airline miles or points for using it.

Why would I wish 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 reading now.

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

IS potentially for you if:

you do not have a charge card offering 0% FX fees and do not want to impact your credit report by getting another credit card specifically to use abroad
you want an item which allows you to make �,� 500 of foreign currency ATM withdrawals per month with no fees and only a very little FX mark-up (there is a little charge beyond �,� 500).
you desire an item for you, your adult kids, parents, partner or anyone else in your life who needs an easy, easy to understand payment card that will save them cash when taking a trip.

How does  work in practice?
It is, as I said previously, a really simple procedure. You utilize 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 verifies that you have enough money in your account and authorises the transaction.
The transaction goes through at either the interbank rate or the Mastercard rate, depending on the currency. adds a 0.5% cost if you have the free card. There are no costs if you have among their paid cards.
You get an automated invest alert via the app, if you choose to install it.
The cash is taken from your current account a couple of days later.
Here is an example. With no foreign travel in the journal, I chose to sprinkle 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 on:.

Converting pounds was expensive.

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

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

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

What this implies is you can invest cash you have in your existing bank account with less worry about running out of money and the extra action. That does not mean it is perfect.

In this Currensea review is the good, the bad, the awful 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 transaction, allowing us to make earnings 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 usage over the free amount on all our strategies, full details can be found on our rates strategies.

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

Interchange.
Every time you spend with your card we get a little % of the deal, referred to as interchange, this comes straight from the merchant and will not be charged to you. Can I Have A Secondary Card With Currensea