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

A new fintech business which I was introduced to earlier this year. Can I Use My Currensea Card In Vietnam…

It has actually won a couple of awards over recent months for what it does (providing you an affordable way to invest abroad) but what I like about  is that it is basic as hell. This is a good thing.

is, efficiently, a direct debit travel card. It is a Mastercard which sits in between you and your existing current account. There is absolutely nothing to top-up or prepay. You merely invest as you would on a typical debit card and the cash is drawn from your current account– simply without the normal 3% cost.

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

There are likewise some interesting travel advantages if you select a paid strategy, but the complimentary strategy 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 something well, and for free or more affordable than the competitors
include a growing number of functions which your existing customers do not actually desire or require

add restrictions, charges or costs to the feature that made individuals get your item in the first place, eliminating any competitive advantage
is presently still in Stage 1 of this procedure and will hopefully remain there. Monzo, curve and revolut are already in Phase 3 …
is simple enough that it passes my ‘Can you describe it to your mate in the pub in 30 seconds?’ test:

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

That’s it.

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

Why would I want to get a card?
If you have a charge card offering 0% forex fees, then you do not require a  card, unless you desire totally free ATM withdrawals. You can stop checking out now.

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

IS perhaps 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 desire a product which allows you to make �,� 500 of foreign currency ATM withdrawals each month without any charges and only a minimal FX mark-up (there is a small fee beyond �,� 500).
you want an item for you, your adult children, moms and dads, partner or anybody else in your life who requires a simple, easy to understand payment card that will save them cash when travelling.

How does  operate in practice?
It is, as I said earlier, an extremely simple process. You use 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 instantly confirms that you have sufficient cash in your account and authorises the deal.
The deal goes through at either the interbank rate or the Mastercard rate, depending on the currency. adds a 0.5% charge if you have the free card. There are no charges if you have one of their paid cards.
You get an automatic spend alert via the app, if you choose to install it.
The cash is taken from your current 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 couple of days later on:.

Converting pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daylight break-in that is just about to happen (often in a various language) while not telling you about the inflated currency conversion fees happening in the background. Don’t get me began. Anyhow back to the positives for a bit anyhow.

Luckily over the last few years a handful of great travel debit cards have popped onto the scene … and like other terrific cards  guarantees big savings (85%) and a great app.

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

What this implies is you can invest cash you have in your existing bank account with less stress over lacking cash and the extra step. However that does not suggest it is ideal.

In this Currensea review is the great, the bad, the ugly 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 Essential Strategy of 0.5% per deal, enabling us to make income from our Important Plan whilst remaining much cheaper than other pre-paid cards and high-street debit cards. We likewise charge an FX markup on ATM use over the totally free amount on all our strategies, complete information can be discovered on our prices plans.

Membership costs.
We charge an annual membership cost of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Plan. The membership charge likewise removes all FX markup on transactions.

Interchange.
Whenever you spend with your card we get a little % of the transaction, referred to as interchange, this comes straight from the merchant and won’t be charged to you. Can I Use My Currensea Card In Vietnam