Can I Use My Currensea Card In Egypt – Best Travel Cards

A new fintech company which I was introduced to previously this year. Can I Use My Currensea Card In Egypt…

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

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

Oh, and  is totally free to obtain, which also helps.

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

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

launch by doing one thing well, and totally free or cheaper than the competitors
include increasingly more functions which your existing customers do not actually need or desire

add costs, constraints or charges to the feature that made individuals get your item in the first place, getting rid of any competitive advantage
is currently still in Phase 1 of this process and will hopefully remain there. Monzo, curve and revolut are already in Phase 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 complimentary direct debit card to use abroad and which immediately charges all purchases to your existing bank account in Sterling, less a small 0.5% charge.

That’s it.

You don’t (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 charges, then you do not need a  card, unless you want complimentary ATM withdrawals. You can stop checking out now.

However, credit cards which provide rewards and charge 0% FX charges are scarce. The only ‘miles and points’ options which use a partial solution are the Virgin Atlantic charge card which have 0% FX charges in the Euro zone.

IS perhaps for you if:

you do not have a credit card offering 0% FX charges and do not want to impact your credit report by getting another credit card particularly to utilize abroad
you desire an item which allows you to make �,� 500 of foreign currency ATM withdrawals each month with no fees and just a minimal FX mark-up (there is a small fee beyond �,� 500).
you desire a product for you, your adult children, parents, partner or anyone else in your life who requires an easy, easy to understand payment card that will conserve them money when travelling.

How does  work in practice?
It is, as I said earlier, a very basic process. You use 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 immediately confirms 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 upon the currency. If you have the free card,  includes a 0.5% fee. There are no costs if you have among their paid cards.
You get an automatic invest notification through the app, if you select 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 set up to leave my HSBC account a few days later on:.

Converting pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daytime robbery that is just about to occur (often in a different language) while not telling you about the outrageous currency conversion costs happening in the background. Do not get me started. Anyway back to the positives for a bit anyway.

Luckily in the last few years a handful of fantastic travel debit cards have actually popped onto the scene … and like other terrific cards  promises big cost savings (85%) and an excellent app.

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

What this suggests is you can spend money you have in your existing bank account with less worry about lacking money and the additional step. However that does not indicate it is best.

In this Currensea review is the excellent, the bad, the awful and the options, so that you can decide.

FX markup.
While our premium plans have no FX markup, we charge a small FX markup on our Necessary Plan of 0.5% per transaction, permitting us to make revenue from our Important Plan whilst remaining much cheaper than other prepaid cards and high-street debit cards. We also charge an FX markup on ATM usage over the free amount on all our plans, full information can be found on our pricing strategies.

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

Interchange.
Whenever you invest with your card we receive a little % of the deal, called interchange, this comes straight from the merchant and won’t be charged to you. Can I Use My Currensea Card In Egypt