How To Top Up Currensea Card – Best Travel Cards

A brand-new fintech business which I was introduced to earlier this year. How To Top Up Currensea Card…

It has won a couple of awards over recent months for what it does (providing you a low-priced method to invest abroad) but what I like about  is that it is simple as hell. This is a good idea.

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 just invest as you would on a normal debit card and the money is drawn from your bank account– simply without the normal 3% fee.

Oh, and  is free to apply for, which also helps.

There are also some interesting travel advantages if you select a paid strategy, but the complimentary plan works fine. You can use here.

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

launch by doing one thing well, and free of charge or less expensive than the competitors
include a growing number of features which your existing clients do not truly require or desire

include charges, fees or limitations to the function that made individuals get your product in the first place, removing any competitive advantage
is currently still in Phase 1 of this procedure and will hopefully stay there. Revolut, curve and monzo are already in Stage 3 …
is basic enough that it passes my ‘Can you explain it to your mate in the bar 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 little 0.5% charge.

That’s it.

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

However, charge card which provide rewards and charge 0% FX charges are few and far between. The only ‘points and miles’ alternatives which use a partial service 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 affect your credit report by getting another charge card specifically to utilize abroad
you want an item which permits you to make �,� 500 of foreign currency ATM withdrawals each month with no charges and only a minimal FX mark-up (there is a little charge beyond �,� 500).
you desire an item for you, your adult children, parents, partner or anyone else in your life who needs a basic, easy to understand payment card that will save them money when taking a trip.

How does  operate in practice?
It is, as I said previously, a really easy 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 immediately validates that you have adequate cash in your account and authorises the deal.
The transaction 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. If you have one of their paid cards, there are no costs.
You get an automated spend notification via the app, if you pick to install it.
The cash is drawn from your bank account a couple of days later.
Here is an example. With no foreign travel in the journal, I decided to splash out and purchase 1,000 MeliaRewards points for EUR5.

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

However transforming pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daytime break-in that is almost to take place (typically in a different language) while not telling you about the outrageous currency conversion costs occurring in the background. Do not get me started. Anyhow back to the positives for a bit anyway.

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

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

What this indicates is you can spend cash you have in your existing current account with less worry about running out of cash and the additional action. But that does not indicate it is best.

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

FX markup.
While our premium strategies have no FX markup, we charge a small FX markup on our Essential Strategy of 0.5% per transaction, enabling us to make earnings from our Vital Plan whilst staying much cheaper than other prepaid cards and high-street debit cards. We also charge an FX markup on ATM use over the complimentary quantity on all our strategies, full information can be discovered on our rates plans.

Subscription fees.
We charge a yearly membership charge of �,� 25 for our Premium Plan, and �,� 120 for our Elite Plan. The membership cost also gets rid of all FX markup on deals.

Interchange.
Whenever 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. How To Top Up Currensea Card