Is Currensea Card Part Of Link Network – Best Travel Cards

A new fintech company which I was introduced to previously this year. Is Currensea Card Part Of Link Network…

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

is, efficiently, a direct debit travel card. You merely spend as you would on a normal debit card and the cash is taken from your existing account– simply without the typical 3% fee.

Oh, and  is totally free to apply for, which likewise helps.

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

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

launch by doing something well, and free of charge or less expensive than the competitors
include increasingly more functions which your existing customers do not actually desire or need

add fees, limitations or charges to the function that made individuals get your product in the first place, getting rid of any competitive advantage
is presently still in Stage 1 of this process and will hopefully stay there. Monzo, revolut and curve are already in Stage 3 …
is simple enough that it passes my ‘Can you discuss 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 recharges all purchases to your existing current account in Sterling, less a little 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% foreign exchange costs, then you don’t need a  card, unless you want complimentary ATM withdrawals. You can stop checking out now.

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

IS perhaps for you if:

you do not have a charge card offering 0% FX fees and do not wish to affect your credit report by getting another charge card particularly to utilize abroad
you want an item which enables you to make �,� 500 of foreign currency ATM withdrawals monthly without any charges and just a minimal FX mark-up (there is a small fee beyond �,� 500).
you desire an item for you, your adult kids, parents, partner or anybody 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 very basic process. You utilize your Currensea card in the same way as your existing debit card.

You make your purchase in local currency (any currency, internationally).
Your bank account bank instantly confirms that you have adequate cash in your account and authorises the transaction.
The transaction goes through at either the interbank rate or the Mastercard rate, depending upon the currency. If you have the totally free card,  adds a 0.5% cost. There are no fees if you have one of their paid cards.
You get an automated spend alert through the app, if you select to install it.
The cash is drawn from your current account a few days later on.
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 arranged to leave my HSBC account a couple of days later on:.

Transforming pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daytime burglary that is just about to occur (often in a different language) while not telling you about the exorbitant currency conversion fees taking place in the background. Do not get me started. Anyway 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 terrific cards Currensea promises huge savings (85%) and a fantastic app.

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

What this implies is you can invest money you have in your existing bank account with less worry about running out of cash and the additional step. That does not mean it is best.

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

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

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

Interchange.
Every time you invest with your card we receive a small % of the transaction, called interchange, this comes straight from the merchant and won’t be charged to you. Is Currensea Card Part Of Link Network