Can I Use My Currensea Card In Lebanon – Best Travel Cards

A brand-new fintech business which I was introduced to previously this year. Can I Use My Currensea Card In Lebanon…

It has won a couple of awards over recent months for what it does (providing you an inexpensive method to spend abroad) but what I like about  is that it is easy as hell. This is an advantage.

is, efficiently, a direct debit travel card. It is a Mastercard which sits in between you and your existing bank account. There is nothing to top-up or prepay. You just spend as you would on a typical debit card and the money is drawn from your current account– just without the usual 3% fee.

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

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

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

launch by doing one thing well, and free of charge or less expensive than the competitors
include increasingly more features which your existing customers don’t truly need or want

add charges, constraints or charges 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 process and will ideally remain there. Monzo, curve and revolut are already in Phase 3 …
is easy enough that it passes my ‘Can you explain it to your mate in the club in 30 seconds?’ test:

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

That’s it.

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

Why would I wish to get a card?
If you have a credit card offering 0% forex costs, then you do not require a  card, unless you want free ATM withdrawals. You can stop reading now.

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

IS possibly for you if:

you don’t have a charge card offering 0% FX costs and do not want to impact your credit report by getting another credit card particularly to use abroad
you want an item which enables you to make �,� 500 of foreign currency ATM withdrawals monthly with no costs and only a minimal FX mark-up (there is a small charge beyond �,� 500).
you desire an item for you, your adult children, moms and dads, partner or anybody else in your life who requires 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 earlier, a very easy procedure. 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 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 on the currency. If you have the free card,  adds a 0.5% charge. There are no fees if you have among their paid cards.
You get an automated spend alert via the app, if you select to install it.
The cash is drawn from your bank account a few days later.
Here is an example. Without any foreign travel in the diary, I decided to sprinkle out and buy 1,000 MeliaRewards points for EUR5.

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

But converting pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daytime robbery that is almost to take place (often in a various language) while not telling you about the outrageous currency conversion charges happening in the background. Don’t get me began. Anyway back to the positives for a bit anyway.

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

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

What this suggests is you can invest cash you have in your existing bank account with less worry about running out of money and the extra action. However that does not suggest 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 plans have no FX markup, we charge a nominal FX markup on our Important Plan of 0.5% per deal, allowing us to make profits 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 totally free amount on all our plans, full information can be discovered on our rates plans.

Subscription charges.
We charge a yearly membership charge of �,� 25 for our Premium Plan, and �,� 120 for our Elite Plan. The subscription fee also gets rid of all FX markup on deals.

Interchange.
Each time you spend with your card we get a small % of the transaction, referred to as interchange, this comes straight from the merchant and will not be credited you. Can I Use My Currensea Card In Lebanon