How To Add Money To My Currensea Card – Best Travel Cards

A brand-new fintech company which I was introduced to earlier this year. How To Add Money To My Currensea Card…

It has won a few awards over current months for what it does (using you an inexpensive way to spend abroad) but what I like about  is that it is simple as hell. This is a good idea.

is, effectively, a direct debit travel card. It is a Mastercard which sits between you and your existing bank account. There is absolutely nothing to top-up or prepay. You merely invest as you would on a normal debit card and the money is drawn from your current account– just without the typical 3% cost.

Oh, and  is free to obtain, which also helps.

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

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

launch by doing one thing well, and for free or cheaper than the competition
add a growing number of functions which your existing clients don’t really want or require

include fees, charges or limitations to the feature that made people get your product in the first place, removing any competitive advantage
is presently still in Stage 1 of this process and will hopefully stay there. Curve, Revolut and Monzo are currently in Phase 3 …
is basic enough that it passes my ‘Can you explain it to your mate in the pub in 30 seconds?’ test:

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

That’s it.

You don’t (yet …) make any airline miles or points for utilizing it.

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

However, charge card which provide rewards and charge 0% FX charges are scarce. The only ‘points and miles’ options which provide a partial service are the Virgin Atlantic charge card which have 0% FX charges in the Euro zone.

IS perhaps for you if:

you do not have a credit card offering 0% FX charges and do not want to impact your credit report by getting another credit card particularly to use abroad
you desire an item which permits you to make �,� 500 of foreign currency ATM withdrawals monthly with no fees and only a very little FX mark-up (there is a small charge beyond �,� 500).
you want an item for you, your adult kids, moms and dads, partner or anyone else in your life who needs a basic, 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 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, globally).
Your current account bank automatically verifies that you have sufficient 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. includes a 0.5% fee if you have the complimentary card. If you have one of their paid cards, there are no fees.
You get an automatic spend notification via the app, if you pick to install it.
The cash is taken from your current account a couple of days later on.
Here is an example. With no foreign travel in the diary, I chose to splash out and purchase 1,000 MeliaRewards points for EUR5.

This is what you see in the Currensea app, which shows �,� 4.33 arranged 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 burglary that is practically to occur (frequently in a different language) while not telling you about the expensive currency conversion charges occurring in the background. Don’t get me started. Anyhow back to the positives for a bit anyway.

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

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

What this implies is you can spend money you have in your existing current account with less worry about lacking cash and the additional step. But that does not indicate it is best.

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

FX markup.
While our premium strategies have no FX markup, we charge a nominal FX markup on our Necessary Plan of 0.5% per transaction, allowing us to make earnings from our Important Plan whilst remaining more affordable 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 plans, full information can be found on our rates plans.

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

Interchange.
Whenever you invest with your card we receive a little % of the transaction, called interchange, this comes directly from the merchant and won’t be credited you. How To Add Money To My Currensea Card