Currensea Card Maximum Top Up – Best Travel Cards

A new fintech company which I was introduced to earlier this year. Currensea Card Maximum Top Up…

It has actually won a few awards over recent months for what it does (using you an affordable method to spend abroad) however what I like about  is that it is easy as hell. This is an advantage.

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

Oh, and  is complimentary to get, which likewise helps.

There are likewise some intriguing travel advantages if you choose a paid strategy, but the free strategy works fine. You can use here.

There is a company model 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 a growing number of features which your existing consumers do not really desire or require

add costs, limitations or charges to the function that made people get your item in the first place, removing any competitive advantage
is currently still in Stage 1 of this process and will ideally stay there. Revolut, monzo and curve are currently in Stage 3 …
is easy enough that it passes my ‘Can you discuss it to your mate in the bar in 30 seconds?’ test:

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

That’s it.

You don’t (yet …) earn 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 costs, then you do not require a  card, unless you want complimentary ATM withdrawals. You can stop reading now.

Credit cards which use benefits and charge 0% FX charges are couple of and far between. The only ‘points and miles’ options which use a partial solution are the Virgin Atlantic credit cards which have 0% FX charges in the Euro zone.

IS perhaps for you if:

you don’t have a charge card offering 0% FX charges and do not want to impact your credit report by getting another charge card particularly to use abroad
you desire a product which permits you to make �,� 500 of foreign currency ATM withdrawals monthly with no charges and only a minimal FX mark-up (there is a small charge beyond �,� 500).
you want an item for you, your adult kids, parents, partner or anybody else in your life who requires a basic, easy to understand payment card that will conserve them money when taking a trip.

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

You make your purchase in regional currency (any currency, globally).
Your bank account bank automatically confirms that you have sufficient money in your account and authorises the transaction.
The deal goes through at either the interbank rate or the Mastercard rate, depending upon the currency. includes a 0.5% cost if you have the complimentary card. If you have one of their paid cards, there are no fees.
You get an automatic invest notice via the app, if you choose to install it.
The money is taken from your bank account a few days later.
Here is an example. Without any foreign travel in the diary, I chose to sprinkle 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:.

But converting pounds was costly.

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 expensive currency conversion fees happening in the background. Don’t get me started. Anyhow back to the positives for a bit anyway.

Thankfully recently a handful of fantastic travel debit cards have popped onto the scene … and like other excellent cards  guarantees huge savings (85%) and an excellent app.

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

What this indicates is you can invest money you have in your existing current account with less fret about lacking cash and the extra step. However that does not indicate it is ideal.

In this Currensea evaluation is the good, 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 Important Plan of 0.5% per transaction, permitting us to make revenue from our Important Strategy whilst remaining more affordable than other pre-paid cards and high-street debit cards. We likewise charge an FX markup on ATM usage over the totally free quantity on all our strategies, complete details can be discovered on our prices strategies.

Subscription costs.
We charge a yearly membership cost of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Strategy. The membership fee also eliminates all FX markup on transactions.

Interchange.
Every time you spend with your card we receive a small % of the transaction, known as interchange, this comes straight from the merchant and will not be charged to you. Currensea Card Maximum Top Up