Can You Use Currensea Card In Spain – Best Travel Cards

A brand-new fintech business which I was presented to earlier this year. Can You Use Currensea Card In Spain…

It has actually won a few awards over recent months for what it does (offering you a low-cost method to invest abroad) however what I like about  is that it is simple as hell. This is a good idea.

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 just spend as you would on a regular debit card and the money is taken from your current account– simply without the normal 3% charge.

Oh, and  is totally free to apply for, which also helps.

There are likewise some interesting travel advantages if you choose a paid plan, but 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 something well, and free of charge or less expensive than the competitors
add a growing number of features which your existing customers do not actually need or want

add constraints, costs or charges to the feature that made people get your product in the first place, removing any competitive advantage
is currently still in Phase 1 of this procedure and will ideally remain there. Curve, Revolut and Monzo 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 totally free direct debit card to utilize abroad and which instantly recharges all purchases to your existing bank account in Sterling, less a small 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 charges, then you don’t require a  card, unless you want totally free ATM withdrawals. You can stop checking out now.

However, credit cards which use benefits and charge 0% FX costs are few and far between. The only ‘miles and points’ options which use a partial service are the Virgin Atlantic charge card which have 0% FX charges in the Euro zone.

IS potentially for you if:

you do not have a charge card offering 0% FX costs and do not want to impact your credit report by getting another credit card particularly to use abroad
you want an item which permits you to make �,� 500 of foreign currency ATM withdrawals each month without any costs and only a very little FX mark-up (there is a little charge beyond �,� 500).
you want a product 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 money when taking a trip.

How does  work in practice?
It is, as I stated earlier, an extremely basic procedure. You utilize your Currensea card in the same way as your existing debit card.

You make your purchase in local currency (any currency, internationally).
Your bank account bank immediately verifies 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 on the currency. includes a 0.5% cost if you have the free card. There are no costs if you have one of their paid cards.
You get an automatic spend notification through the app, if you select to install it.
The money is drawn from your bank account a few days later on.
Here is an example. With no foreign travel in the diary, I decided 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 couple of days later on:.

However 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 various language) while not telling you about the outrageous currency conversion fees occurring in the background. Don’t get me began. Anyhow back to the positives for a bit anyhow.

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

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

What this means is you can spend money you have in your existing current account with less stress over running out of money and the additional step. That does not indicate it is ideal.

In this Currensea review is the great, the bad, the unsightly and the options, so that you can choose.

FX markup.
While our premium plans have no FX markup, we charge a small FX markup on our Necessary Strategy of 0.5% per transaction, enabling us to make revenue from our Essential Plan whilst staying more affordable than other pre-paid cards and high-street debit cards. We likewise charge an FX markup on ATM use over the free amount on all our strategies, full details can be found on our pricing strategies.

Subscription costs.
We charge a yearly subscription cost of �,� 25 for our Premium Plan, and �,� 120 for our Elite Plan. The subscription cost likewise removes all FX markup on transactions.

Interchange.
Every time you spend with your card we get a little % of the transaction, known as interchange, this comes directly from the merchant and will not be credited you. Can You Use Currensea Card In Spain