Free Currensea Card – Best Travel Cards

A new fintech company which I was presented to earlier this year. Free Currensea Card…

It has won a couple of awards over current months for what it does (offering you an affordable way to spend abroad) however what I like about  is that it is easy as hell. This is an advantage.

is, effectively, a direct debit travel card. You just spend as you would on a typical debit card and the money is taken from your existing account– just without the typical 3% charge.

Oh, and  is complimentary to apply for, which likewise assists.

There are also some fascinating travel benefits if you choose a paid plan, however the free strategy works fine. You can use here.

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

launch by doing one thing well, and totally free or cheaper than the competition
include increasingly more functions which your existing clients do not truly desire or require

add constraints, costs or charges to the feature that made individuals get your item in the first place, removing any competitive advantage
is currently still in Phase 1 of this procedure and will hopefully remain there. Curve, monzo and revolut are already in Stage 3 …
is easy enough that it passes my ‘Can you discuss it to your mate in the club in 30 seconds?’ test:

It is a totally free direct debit card to use abroad and which immediately charges all purchases to your existing bank account in Sterling, less a small 0.5% cost.

That’s it.

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

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

However, credit cards which offer rewards and charge 0% FX charges are few and far between. The only ‘points and miles’ options which provide a partial solution are the Virgin Atlantic charge card which have 0% FX charges in the Euro zone.

IS possibly for you if:

you don’t have a credit card offering 0% FX fees and do not want to impact your credit report by getting another charge card specifically to use abroad
you want an item which allows you to make �,� 500 of foreign currency ATM withdrawals each month without any costs and just a minimal FX mark-up (there is a little fee beyond �,� 500).
you desire an item for you, your adult kids, parents, partner or anyone else in your life who requires an easy, easy to understand payment card that will conserve them money when travelling.

How does  work in practice?
It is, as I said previously, an extremely simple procedure. You use your Currensea card in the same way as your existing debit card.

You make your purchase in regional currency (any currency, worldwide).
Your current account bank immediately confirms that you have adequate money in your account and authorises the deal.
The deal goes through at either the interbank rate or the Mastercard rate, depending upon the currency. If you have the complimentary card,  includes a 0.5% charge. If you have one of their paid cards, there are no fees.
You get an automatic invest notice via the app, if you pick to install it.
The cash is drawn from your bank account a few days later.
Here is an example. With no foreign travel in the journal, I chose to splash 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 couple of days later:.

Converting pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daylight break-in that is practically to occur (typically in a different language) while not telling you about the exorbitant currency conversion costs occurring in the background. Do not get me began. Anyhow back to the positives for a bit anyhow.

In current years a handful of excellent travel debit cards have popped onto the scene … and like other excellent cards Currensea guarantees huge savings (85%) and a terrific app.

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

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

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

FX markup.
While our premium plans have no FX markup, we charge a small FX markup on our Important Strategy of 0.5% per deal, allowing us to make income from our Important Plan whilst staying 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 strategies, full information can be discovered on our pricing plans.

Membership charges.
We charge a yearly subscription charge of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Strategy. The subscription charge likewise removes all FX markup on deals.

Interchange.
Whenever you spend with your card we receive a small % of the deal, referred to as interchange, this comes straight from the merchant and won’t be credited you. Free Currensea Card