What Countries Can I Use Currensea Card – Best Travel Cards

A brand-new fintech business which I was introduced to previously this year. What Countries Can I Use Currensea Card…

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

is, effectively, a direct debit travel card. You simply invest as you would on a typical debit card and the cash is taken from your present account– simply without the usual 3% cost.

Oh, and  is complimentary to obtain, which likewise helps.

There are likewise some fascinating travel benefits if you pick a paid strategy, however the complimentary strategy works fine. You can use here.

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

launch by doing something well, and for free or more affordable than the competitors
include more and more features which your existing consumers don’t truly desire or need

add restrictions, costs or charges to the function that made people get your item in the first place, removing any competitive advantage
is currently still in Stage 1 of this procedure and will ideally remain there. Monzo, curve and revolut are already in Stage 3 …
is easy 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 immediately charges all purchases to your existing current account in Sterling, less a little 0.5% charge.

That’s it.

You don’t (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% forex charges, then you do not require a  card, unless you want complimentary ATM withdrawals. You can stop reading now.

Nevertheless, charge card which use benefits and charge 0% FX charges are scarce. The only ‘miles and points’ choices which offer a partial solution are the Virgin Atlantic credit cards which have 0% FX costs in the Euro zone.

IS possibly for you if:

you do not have a charge card offering 0% FX charges and do not wish to affect your credit report by getting another charge card specifically to utilize abroad
you desire a product which permits you to make �,� 500 of foreign currency ATM withdrawals per month without any fees and just a minimal FX mark-up (there is a little cost beyond �,� 500).
you want a product for you, your adult kids, parents, partner or anybody else in your life who needs an easy, easy to understand payment card that will conserve them money when taking a trip.

How does  work in practice?
It is, as I said earlier, an extremely basic procedure. 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 immediately validates that you have adequate money 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,  includes a 0.5% charge. If you have one of their paid cards, there are no fees.
You get an automatic spend alert via the app, if you choose to install it.
The cash is drawn from your current account a couple of days later on.
Here is an example. With no foreign travel in the diary, I chose to sprinkle out and buy 1,000 MeliaRewards points for EUR5.

This is what you see in the Currensea app, which shows �,� 4.33 scheduled to leave my HSBC account a couple of days later:.

Transforming pounds was costly.

A pet peeve of mine is when ATMs forewarn you about the daytime burglary that is almost to take place (often in a various language) while not telling you about the outrageous currency conversion fees occurring in the background. Don’t get me started. Anyway back to the positives for a bit anyhow.

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

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

What this indicates is you can invest cash you have in your existing current account with less stress over running out of cash and the extra action. That does not suggest it is ideal.

In this Currensea evaluation is the great, 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 small FX markup on our Vital Plan of 0.5% per transaction, allowing us to make profits from our Important Strategy whilst staying much cheaper than other pre-paid cards and high-street debit cards. We also charge an FX markup on ATM usage over the free quantity on all our plans, complete information can be found on our pricing plans.

Subscription costs.
We charge an annual membership fee of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Strategy. The subscription cost also eliminates all FX markup on deals.

Interchange.
Whenever you spend with your card we receive a little % of the transaction, referred to as interchange, this comes directly from the merchant and will not be charged to you. What Countries Can I Use Currensea Card