Currensea Contact Us – Best Travel Cards

A new fintech company which I was introduced to previously this year. Currensea Contact Us…

It has won a few awards over recent months for what it does (providing you a low-cost method to invest abroad) however what I like about  is that it is simple as hell. This is an advantage.

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

Oh, and  is complimentary to make an application for, which likewise assists.

There are also some intriguing travel benefits if you pick a paid strategy, but the totally free strategy works fine. You can use here.

There is a service model in fintech which Curve, Revolut, Monzo etc have actually all followed:

launch by doing one thing well, and free of charge or cheaper than the competitors
include increasingly more features which your existing consumers do not actually need or desire

add charges, restrictions or costs to the function that made people get your product in the first place, removing any competitive advantage
is currently still in Stage 1 of this procedure and will ideally remain there. Curve, Revolut and Monzo are already in Phase 3 …
is simple 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 utilize abroad and which automatically charges all purchases to your existing bank account in Sterling, less a little 0.5% cost.

That’s it.

You don’t (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 need a  card, unless you want totally free ATM withdrawals. You can stop reading now.

Credit cards which provide rewards and charge 0% FX charges are couple of and far between. The only ‘points and miles’ choices 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 costs and do not wish to impact your credit report by getting another charge card specifically to utilize abroad
you desire a product which permits you to make �,� 500 of foreign currency ATM withdrawals per month with no costs and only a very little FX mark-up (there is a small charge beyond �,� 500).
you want an item for you, your adult children, moms and dads, partner or anyone else in your life who requires a simple, easy to understand payment card that will conserve them cash when travelling.

How does  work in practice?
It is, as I said previously, a really easy process. 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 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 fees if you have one of their paid cards.
You get an automatic spend notification through the app, if you choose to install it.
The cash is taken from your current account a few days later on.
Here is an example. With no foreign travel in the diary, I decided to sprinkle out and purchase 1,000 MeliaRewards points for EUR5.

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

Converting pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daylight break-in that is practically to take place (frequently in a different language) while not telling you about the inflated currency conversion fees occurring in the background. Don’t get me started. Anyway back to the positives for a bit anyway.

Thankfully in recent years a handful of excellent travel debit cards have popped onto the scene … and like other fantastic cards  assures big cost savings (85%) and a terrific app.

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

What this suggests is you can invest cash you have in your existing current account with less fret about running out of money and the additional step. However that does not suggest it is perfect.

In this Currensea review is the excellent, the bad, the ugly and the alternatives, so that you can decide.

FX markup.
While our premium strategies have no FX markup, we charge a small FX markup on our Important Strategy of 0.5% per deal, enabling us to make revenue from our Necessary Strategy whilst staying more affordable than other pre-paid cards and high-street debit cards. We also charge an FX markup on ATM usage over the totally free amount on all our plans, full details can be discovered on our pricing plans.

Subscription costs.
We charge a yearly subscription charge of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Strategy. The membership charge likewise gets rid of all FX markup on transactions.

Interchange.
Every time you spend with your card we get a little % of the deal, known as interchange, this comes straight from the merchant and won’t be charged to you. Currensea Contact Us