Can I Put Money On My Currensea Card – Best Travel Cards

A brand-new fintech company which I was introduced to previously this year. Can I Put Money On My Currensea Card…

It has won a couple of awards over recent months for what it does (using you a low-priced method to spend 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 just invest as you would on a regular debit card and the money is taken from your current account– simply without the typical 3% cost.

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

There are also some interesting travel benefits if you select a paid plan, but the free plan works fine. You can apply here.

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

launch by doing something well, and free of charge or less expensive than the competition
add more and more functions which your existing clients do not actually need or desire

add charges, constraints or fees to the function that made people get your item in the first place, getting rid of any competitive advantage
is currently still in Phase 1 of this procedure and will ideally stay there. Revolut, monzo and curve are currently in Stage 3 …
is simple 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 instantly charges all purchases to your existing current account in Sterling, less a little 0.5% fee.

That’s it.

You do not (yet …) earn any airline company miles or points for using it.

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

Credit cards which offer rewards and charge 0% FX charges are couple of and far between. The only ‘points and miles’ choices which provide a partial solution 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 charge card offering 0% FX charges and do not wish to impact your credit report by getting another charge card specifically to use abroad
you want an item which permits you to make �,� 500 of foreign currency ATM withdrawals monthly without any fees and just a minimal FX mark-up (there is a small charge beyond �,� 500).
you desire an item for you, your adult children, moms and dads, partner or anybody else in your life who needs an easy, easy to understand payment card that will save them cash when travelling.

How does  work in practice?
It is, as I stated earlier, a really simple procedure. 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 sufficient cash in your account and authorises the deal.
The deal goes through at either the interbank rate or the Mastercard rate, depending upon the currency. includes a 0.5% cost if you have the totally free card. There are no costs if you have one of their paid cards.
You get an automated spend notification via the app, if you choose to install it.
The money is taken from your current account a few days later on.
Here is an example. Without any foreign travel in the diary, I decided to sprinkle out and purchase 1,000 MeliaRewards points for EUR5.

This is what you see in the Currensea app, which shows �,� 4.33 set up to leave my HSBC account a few days later on:.

But converting pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daytime robbery that is practically to occur (typically in a different language) while not telling you about the inflated currency conversion fees happening in the background. Don’t get me began. Anyway back to the positives for a bit anyway.

In recent years a handful of terrific travel debit cards have actually popped onto the scene … and like other excellent cards Currensea promises big cost savings (85%) and a terrific 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 means is you can spend cash you have in your existing bank account with less worry about running out of cash and the extra step. That does not mean it is best.

In this Currensea review is the great, the bad, the ugly 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 Essential Plan of 0.5% per transaction, permitting us to make earnings from our Necessary Strategy whilst remaining more affordable than other prepaid cards and high-street debit cards. We also charge an FX markup on ATM use over the totally free quantity on all our strategies, full details can be found on our pricing strategies.

Subscription fees.
We charge a yearly membership cost of �,� 25 for our Premium Plan, and �,� 120 for our Elite Plan. The membership fee likewise removes all FX markup on deals.

Interchange.
Whenever you invest with your card we receive a little % of the transaction, known as interchange, this comes straight from the merchant and won’t be credited you. Can I Put Money On My Currensea Card