Is Currensea Legit – Best Travel Cards

A new fintech business which I was presented to earlier this year. Is Currensea Legit…

It has actually won a few awards over current months for what it does (using you a low-priced method to invest abroad) however what I like about  is that it is basic as hell. This is a good idea.

is, effectively, a direct debit travel card. You merely invest as you would on a regular debit card and the money is taken from your current account– simply without the usual 3% fee.

Oh, and  is free to make an application for, which also helps.

There are likewise some interesting travel benefits if you choose a paid plan, however the complimentary strategy works fine. You can apply here.

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

launch by doing something well, and free of charge or more affordable than the competition
add more and more functions which your existing customers do not really desire or require

include costs, restrictions or charges to the feature that made people get your item in the first place, removing any competitive advantage
is presently still in Stage 1 of this process and will ideally stay there. Curve, Revolut and Monzo 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 complimentary direct debit card to utilize abroad and which automatically 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 utilizing it.

Why would I wish to get a card?
If you have a credit card offering 0% foreign exchange fees, then you don’t need a  card, unless you desire totally free ATM withdrawals. You can stop reading now.

However, credit cards which use rewards and charge 0% FX fees are few and far between. The only ‘miles and points’ choices which provide a partial option are the Virgin Atlantic credit cards which have 0% FX fees in the Euro zone.

IS potentially for you if:

you do not have a credit card offering 0% FX costs and do not want to affect your credit report by getting another charge card particularly to utilize abroad
you desire an item which allows you to make �,� 500 of foreign currency ATM withdrawals monthly with no fees and just a very little FX mark-up (there is a little fee beyond �,� 500).
you want a product for you, your adult children, moms and dads, partner or anybody 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 earlier, a really basic procedure. You utilize your Currensea card in the same way as your existing debit card.

You make your purchase in local currency (any currency, globally).
Your bank account bank automatically validates that you have enough 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. If you have the free card,  adds a 0.5% charge. If you have one of their paid cards, there are no fees.
You get an automated spend notice through the app, if you select to install it.
The money is taken from your current account a few days later on.
Here is an example. With no foreign travel in the journal, I decided to sprinkle out and buy 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 costly.

A pet peeve of mine is when ATMs forewarn you about the daylight robbery that is just about to occur (frequently in a different language) while not telling you about the expensive currency conversion charges taking place in the background. Do not get me began. Anyway back to the positives for a bit anyhow.

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

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

What this means is you can invest cash you have in your existing current account with less worry about lacking cash and the extra action. That does not mean it is best.

In this Currensea evaluation is the good, the bad, the unsightly and the options, 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 transaction, permitting us to make profits from our Vital Plan whilst staying more affordable than other pre-paid cards and high-street debit cards. We also charge an FX markup on ATM use over the free quantity on all our plans, full details can be found on our rates plans.

Membership fees.
We charge an annual subscription fee of �,� 25 for our Premium Plan, and �,� 120 for our Elite Plan. The subscription charge likewise gets rid of all FX markup on transactions.

Interchange.
Whenever you invest with your card we receive a small % of the deal, called interchange, this comes straight from the merchant and won’t be charged to you. Is Currensea Legit