Currensea 18 Card – Best Travel Cards

A new fintech business which I was presented to previously this year. Currensea 18 Card…

It has won a couple of awards over current months for what it does (using you an affordable way to invest abroad) however what I like about  is that it is basic as hell. This is an advantage.

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

Oh, and  is totally free to look for, which also assists.

There are also some intriguing travel benefits if you select a paid strategy, however the totally free strategy works fine. You can use here.

There is an organization model in fintech which Curve, Revolut, Monzo etc have all followed:

launch by doing one thing well, and totally free or cheaper than the competitors
add more and more features which your existing customers don’t truly require or desire

include fees, charges or constraints to the feature that made individuals get your item in the first place, eliminating any competitive advantage
is presently still in Stage 1 of this process and will hopefully remain there. Monzo, curve and revolut are already in Stage 3 …
is basic 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 utilize abroad and which automatically charges all purchases to your existing bank account in Sterling, less a small 0.5% cost.

That’s it.

You don’t (yet …) earn any airline miles or points for using it.

Why would I want to get a card?
If you have a charge card offering 0% forex charges, then you don’t need a  card, unless you desire free ATM withdrawals. You can stop reading now.

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

IS perhaps 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 credit card particularly to utilize abroad
you want a product which enables you to make �,� 500 of foreign currency ATM withdrawals monthly without any charges and just a very little FX mark-up (there is a little cost beyond �,� 500).
you desire a product for you, your adult kids, parents, partner or anybody else in your life who requires an easy, easy to understand payment card that will save them cash when taking a trip.

How does  work in practice?
It is, as I stated earlier, an extremely simple 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 confirms that you have sufficient cash in your account and authorises the transaction.
The transaction goes through at either the interbank rate or the Mastercard rate, depending on the currency. If you have the totally free card,  adds a 0.5% cost. There are no charges if you have among their paid cards.
You get an automatic invest notification via the app, if you pick to install it.
The cash 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 sprinkle out and buy 1,000 MeliaRewards points for EUR5.

This is what you see in the Currensea app, which reveals �,� 4.33 arranged to leave my HSBC account a couple of days later on:.

However converting pounds was pricey.

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

In recent years a handful of excellent travel debit cards have popped onto the scene … and like other great cards Currensea guarantees huge savings (85%) and a terrific app.

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

What this indicates is you can spend money you have in your existing bank account with less worry about running out of cash and the additional action. But that does not indicate it is ideal.

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

FX markup.
While our premium strategies have no FX markup, we charge a small FX markup on our Important Plan of 0.5% per deal, allowing us to make revenue from our Vital Plan whilst staying much cheaper than other pre-paid cards and high-street debit cards. We likewise charge an FX markup on ATM use over the complimentary amount on all our strategies, complete details can be found on our pricing plans.

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

Interchange.
Each time you invest with your card we get a little % of the deal, known as interchange, this comes straight from the merchant and won’t be charged to you. Currensea 18 Card