Where Can I Use My Currensea Card – Best Travel Cards

A new fintech business which I was presented to earlier this year. Where Can I Use My Currensea Card…

It has won a couple of awards over recent months for what it does (offering you a low-priced way to invest abroad) but what I like about  is that it is easy as hell. This is an advantage.

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

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

There are also some intriguing travel advantages if you select a paid plan, however the free plan works fine. You can apply here.

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

launch by doing something well, and for free or less expensive than the competitors
add a growing number of features which your existing consumers do not actually need or desire

include limitations, charges or fees to the function that made people get your item in the first place, eliminating any competitive advantage
is presently still in Stage 1 of this process and will ideally stay there. Revolut, curve and monzo are currently in Phase 3 …
is easy enough that it passes my ‘Can you describe it to your mate in the club in 30 seconds?’ test:

It is a free direct debit card to use abroad and which automatically charges all purchases to your existing bank account in Sterling, less a little 0.5% fee.

That’s it.

You do not (yet …) make any airline miles or points for utilizing it.

Why would I wish to get a card?
If you have a credit card offering 0% forex fees, then you do not need a  card, unless you want totally free ATM withdrawals. You can stop reading now.

Credit cards which use rewards and charge 0% FX costs are few and far between. The only ‘miles and points’ choices which use a partial option are the Virgin Atlantic charge card which have 0% FX costs in the Euro zone.

IS perhaps for you if:

you do not have a credit card offering 0% FX costs and do not wish to impact your credit report by getting another charge card specifically to utilize abroad
you desire an item which permits you to make �,� 500 of foreign currency ATM withdrawals monthly without any costs and just a very little FX mark-up (there is a small cost beyond �,� 500).
you want an item for you, your adult kids, parents, partner or anybody else in your life who requires a basic, easy to understand payment card that will save them cash when taking a trip.

How does  operate in practice?
It is, as I said previously, an extremely simple process. You utilize your Currensea card in the same way as your existing debit card.

You make your purchase in regional currency (any currency, worldwide).
Your bank account bank immediately verifies that you have enough cash in your account and authorises the deal.
The deal goes through at either the interbank rate or the Mastercard rate, depending on the currency. adds a 0.5% cost if you have the totally free card. If you have one of their paid cards, there are no charges.
You get an automated spend alert by means of the app, if you choose to install it.
The cash is drawn from your bank account a couple of days later.
Here is an example. Without any 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 reveals �,� 4.33 scheduled to leave my HSBC account a few days later:.

However transforming pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daytime break-in that is almost to happen (frequently in a different language) while not telling you about the outrageous currency conversion fees happening in the background. Do not get me began. Anyhow back to the positives for a bit anyhow.

Thankfully in recent years a handful of excellent travel debit cards have popped onto the scene … and like other fantastic cards  promises huge savings (85%) and a great app.

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

What this implies is you can spend cash you have in your existing current account with less stress over running out of money and the additional action. But that does not suggest it is best.

In this Currensea review is the great, the bad, the ugly and the alternatives, so that you can decide.

FX markup.
While our premium strategies have no FX markup, we charge a nominal FX markup on our Vital Plan of 0.5% per transaction, permitting us to make earnings from our Important Plan whilst remaining much cheaper than other prepaid cards and high-street debit cards. We likewise charge an FX markup on ATM use over the free amount on all our plans, full information can be discovered on our prices strategies.

Membership charges.
We charge an annual subscription cost of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Strategy. The subscription cost also removes all FX markup on transactions.

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