What Countries Can I Use My Currensea Card In – Best Travel Cards

A new fintech company which I was introduced to earlier this year. What Countries Can I Use My Currensea Card In…

It has actually won a few awards over current months for what it does (offering you an inexpensive method to invest abroad) however what I like about  is that it is easy as hell. This is a good thing.

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

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

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

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

launch by doing one thing well, and for free or more affordable than the competition
add a growing number of functions which your existing customers don’t truly need or want

include limitations, costs or charges to the function that made people get your product in the first place, eliminating any competitive advantage
is currently still in Phase 1 of this procedure and will ideally stay there. Monzo, revolut and curve are already in Stage 3 …
is simple enough that it passes my ‘Can you explain it to your mate in the bar in 30 seconds?’ test:

It is a free direct debit card to utilize abroad and which instantly charges all purchases to your existing bank account in Sterling, less a little 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% foreign exchange fees, then you don’t require a  card, unless you desire totally free ATM withdrawals. You can stop checking out now.

Nevertheless, charge card which offer rewards and charge 0% FX fees are scarce. The only ‘points and miles’ alternatives which offer a partial service 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 charges and do not wish to affect your credit report by getting another credit card particularly to use abroad
you want a product which allows you to make �,� 500 of foreign currency ATM withdrawals per month with no charges and just a minimal FX mark-up (there is a small fee beyond �,� 500).
you want a product for you, your adult kids, parents, partner or anybody else in your life who needs a simple, easy to understand payment card that will conserve them money when travelling.

How does  operate in practice?
It is, as I said previously, an extremely basic process. 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 confirms that you have enough cash in your account and authorises the transaction.
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 free card. There are no costs if you have among their paid cards.
You get an automatic spend notification through the app, if you pick to install it.
The money is taken from your current account a few days later.
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 reveals �,� 4.33 scheduled 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 daylight break-in that is just about to take place (frequently in a different language) while not telling you about the expensive currency conversion charges taking place in the background. Do not get me started. Anyhow back to the positives for a bit anyway.

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

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

What this means is you can spend money you have in your existing bank account with less worry about lacking cash and the additional step. However that does not suggest 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 strategies have no FX markup, we charge a nominal FX markup on our Important Strategy of 0.5% per transaction, allowing us to make revenue from our Necessary Plan whilst remaining more affordable than other prepaid cards and high-street debit cards. We likewise charge an FX markup on ATM usage over the totally free quantity on all our strategies, complete details can be discovered on our rates plans.

Membership costs.
We charge a yearly subscription charge of �,� 25 for our Premium Plan, and �,� 120 for our Elite Plan. The membership fee also eliminates all FX markup on deals.

Interchange.
Each time you invest with your card we get a little % of the transaction, called interchange, this comes directly from the merchant and will not be credited you. What Countries Can I Use My Currensea Card In