Can You Use Sri Lankan Rupees On Currensea Card – Best Travel Cards

A brand-new fintech business which I was presented to previously this year. Can You Use Sri Lankan Rupees On Currensea Card…

It has won a couple of awards over recent months for what it does (providing you a low-priced way to spend abroad) but what I like about  is that it is simple as hell. This is a good thing.

is, effectively, 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 simply spend as you would on a normal debit card and the cash is taken from your bank account– just without the typical 3% fee.

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

There are also some interesting travel advantages if you choose a paid strategy, however the complimentary strategy works fine. You can apply here.

There is an organization design in fintech which Curve, Revolut, Monzo and so on have all followed:

launch by doing one thing well, and for free or more affordable than the competition
add increasingly more features which your existing consumers do not actually need or want

include charges, costs or limitations to the feature that made people get your product in the first place, removing any competitive advantage
is currently still in Phase 1 of this process and will ideally stay there. Monzo, revolut and curve are currently in Phase 3 …
is simple enough that it passes my ‘Can you explain it to your mate in the bar in 30 seconds?’ test:

It is a complimentary 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 …) earn any airline miles or points for using it.

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

Nevertheless, charge card which offer rewards and charge 0% FX costs are few and far between. The only ‘miles and points’ choices 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 credit card offering 0% FX costs and do not wish to affect your credit report by getting another charge card specifically to use abroad
you want an item which permits you to make �,� 500 of foreign currency ATM withdrawals each month without any costs and just a minimal FX mark-up (there is a small fee beyond �,� 500).
you want an item for you, your adult children, parents, partner or anybody else in your life who requires a simple, 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 really easy process. You use your Currensea card in the same way as your existing debit card.

You make your purchase in local currency (any currency, globally).
Your bank account bank automatically confirms that you have enough 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. If you have the free card,  adds a 0.5% charge. There are no costs if you have among their paid cards.
You get an automated spend alert through the app, if you choose to install it.
The money is drawn from your current account a few days later on.
Here is an example. Without any foreign travel in the journal, I decided to splash out and purchase 1,000 MeliaRewards points for EUR5.

This is what you see in the Currensea app, which reveals �,� 4.33 arranged to leave my HSBC account a few days later on:.

But converting pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daytime burglary that is almost to take place (often in a various language) while not telling you about the exorbitant currency conversion charges occurring in the background. Do not get me began. Anyway back to the positives for a bit anyhow.

Fortunately in the last few years a handful of excellent travel debit cards have actually popped onto the scene … and like other fantastic cards  assures big cost savings (85%) and an excellent app.

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

What this implies is you can spend money you have in your existing bank account with less fret about lacking cash and the additional action. That does not imply it is ideal.

In this Currensea review is the good, 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 small FX markup on our Essential Plan of 0.5% per deal, allowing us to make profits from our Important Strategy whilst remaining more affordable than other prepaid cards and high-street debit cards. We also charge an FX markup on ATM use over the free quantity on all our plans, complete information can be discovered on our rates strategies.

Subscription fees.
We charge an annual membership charge of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Strategy. The subscription fee likewise gets rid of all FX markup on deals.

Interchange.
Each time you invest with your card we receive a little % of the deal, known as interchange, this comes directly from the merchant and won’t be credited you. Can You Use Sri Lankan Rupees On Currensea Card