Can You Use Currensea Card Without Verifying Your Identity – Best Travel Cards

A brand-new fintech business which I was introduced to previously this year. Can You Use Currensea Card Without Verifying Your Identity…

It has actually won a few awards over recent months for what it does (offering you a low-priced method to spend abroad) however what I like about  is that it is easy as hell. This is an advantage.

is, effectively, a direct debit travel card. You simply invest as you would on a typical debit card and the money is taken from your present account– just without the typical 3% cost.

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

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

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

launch by doing something well, and totally free or cheaper than the competitors
add more and more features which your existing clients do not actually want or require

include restrictions, fees 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 hopefully stay there. Monzo, revolut and curve are already in Stage 3 …
is easy enough that it passes my ‘Can you explain 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 bank account in Sterling, less a little 0.5% charge.

That’s it.

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

Why would I wish to get a card?
If you have a credit card offering 0% forex costs, then you don’t need a  card, unless you want complimentary ATM withdrawals. You can stop checking out now.

Credit cards which offer rewards and charge 0% FX costs are few and far between. The only ‘points and miles’ options which provide a partial solution are the Virgin Atlantic credit cards which have 0% FX charges in the Euro zone.

IS possibly for you if:

you do not have a charge card offering 0% FX fees and do not want to impact your credit report by getting another credit card specifically to use abroad
you desire a product which enables you to make �,� 500 of foreign currency ATM withdrawals per month with no fees and only a minimal FX mark-up (there is a little fee beyond �,� 500).
you desire an item for you, your adult kids, parents, partner or anyone else in your life who needs a simple, easy to understand payment card that will conserve them money when travelling.

How does  work in practice?
It is, as I said earlier, a really 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 instantly verifies that you have sufficient money 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 totally free card. If you have one of their paid cards, there are no costs.
You get an automated spend notice through the app, if you select to install it.
The money is drawn from your current account a couple of days later on.
Here is an example. Without any foreign travel in the diary, I chose to splash 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:.

However transforming pounds was pricey.

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

Luckily recently a handful of terrific travel debit cards have actually popped onto the scene … and like other fantastic cards  promises huge cost savings (85%) and a fantastic 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 invest money you have in your existing current account with less fret about running out of money and the extra action. That does not mean it is ideal.

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

FX markup.
While our premium strategies have no FX markup, we charge a nominal FX markup on our Vital Strategy of 0.5% per transaction, allowing us to make revenue from our Vital Strategy whilst remaining more affordable than other pre-paid cards and high-street debit cards. We also charge an FX markup on ATM usage over the complimentary amount on all our plans, full details can be found on our prices strategies.

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

Interchange.
Every time you invest with your card we get a small % of the transaction, referred to as interchange, this comes straight from the merchant and won’t be charged to you. Can You Use Currensea Card Without Verifying Your Identity