Halifax Clarity Card Vs Currensea – Best Travel Cards

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

It has won a few awards over current months for what it does (offering you an affordable way to invest abroad) however what I like about  is that it is basic as hell. This is a good idea.

is, successfully, a direct debit travel card. You simply spend as you would on a typical debit card and the money is taken from your current account– just without the usual 3% fee.

Oh, and  is complimentary to look for, which also helps.

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

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

launch by doing something well, and totally free or more affordable than the competition
add more and more features which your existing clients don’t truly want or need

add charges, constraints or charges to the feature that made people get your product in the first place, eliminating any competitive advantage
is presently still in Stage 1 of this process and will hopefully stay there. Revolut, monzo and curve are currently in Phase 3 …
is basic enough that it passes my ‘Can you describe it to your mate in the bar in 30 seconds?’ test:

It is a totally free direct debit card to utilize abroad and which immediately recharges all purchases to your existing current account in Sterling, less a little 0.5% cost.

That’s it.

You don’t (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 charges, then you do not need a  card, unless you want free ATM withdrawals. You can stop checking out now.

Credit cards which use benefits and charge 0% FX costs are few and far between. The only ‘miles and points’ choices which provide a partial service are the Virgin Atlantic charge card which have 0% FX fees 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 impact 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 monthly without any charges and just a minimal FX mark-up (there is a little charge beyond �,� 500).
you want an item for you, your adult kids, moms and dads, partner or anyone else in your life who needs an easy, easy to understand payment card that will save them cash when travelling.

How does  work in practice?
It is, as I stated earlier, an extremely basic 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 verifies that you have enough 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. adds a 0.5% charge if you have the complimentary card. If you have one of their paid cards, there are no fees.
You get an automatic spend alert through the app, if you choose to install it.
The money is taken from your bank account a couple of days later.
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:.

But transforming pounds was costly.

A pet peeve of mine is when ATMs forewarn you about the daytime break-in that is practically to take place (frequently in a various language) while not telling you about the expensive currency conversion fees taking place in the background. Do not get me began. Anyhow back to the positives for a bit anyway.

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

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

What this means is you can spend money you have in your existing current account with less stress over lacking cash and the extra action. But that does not indicate it is best.

In this Currensea review is the great, the bad, the unsightly and the options, so that you can decide.

FX markup.
While our premium plans have no FX markup, we charge a nominal FX markup on our Important Strategy of 0.5% per transaction, permitting us to make income from our Vital Plan whilst remaining much cheaper than other prepaid cards and high-street debit cards. We also charge an FX markup on ATM use over the totally free quantity on all our strategies, full information can be found on our pricing plans.

Subscription charges.
We charge a yearly subscription fee 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 invest with your card we get a little % of the transaction, referred to as interchange, this comes directly from the merchant and won’t be charged to you. Halifax Clarity Card Vs Currensea