Currensea Card Find Sort Code – Best Travel Cards

A brand-new fintech company which I was presented to earlier this year. Currensea Card Find Sort Code…

It has actually won a couple of awards over current months for what it does (providing you an inexpensive way to invest abroad) but what I like about  is that it is simple as hell. This is a good idea.

is, effectively, a direct debit travel card. It is a Mastercard which sits between you and your existing bank account. There is nothing to top-up or prepay. You simply spend as you would on a regular debit card and the cash is drawn from your bank account– just without the normal 3% charge.

Oh, and  is free to get, which also assists.

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

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

launch by doing something well, and free of charge or less expensive than the competition
include increasingly more features which your existing consumers don’t actually desire or require

add costs, constraints or charges to the feature that made people get your product in the first place, getting rid of any competitive advantage
is presently still in Stage 1 of this procedure and will ideally remain there. Revolut, curve and monzo are currently in Stage 3 …
is basic enough that it passes my ‘Can you discuss it to your mate in the club in 30 seconds?’ test:

It is a free direct debit card to utilize abroad and which automatically recharges all purchases to your existing current account in Sterling, less a little 0.5% cost.

That’s it.

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

Why would I want to get a card?
If you have a charge card offering 0% foreign exchange fees, then you do not need a  card, unless you desire free ATM withdrawals. You can stop reading now.

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

IS possibly for you if:

you don’t have a credit card offering 0% FX fees and do not wish to affect your credit report by getting another credit card specifically to use abroad
you desire an item which permits you to make �,� 500 of foreign currency ATM withdrawals monthly with no charges and just a minimal FX mark-up (there is a small cost beyond �,� 500).
you desire an item 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 cash when taking a trip.

How does  work in practice?
It is, as I said earlier, a really 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 instantly verifies that you have sufficient money in your account and authorises the deal.
The deal goes through at either the interbank rate or the Mastercard rate, depending on the currency. If you have the free card,  includes a 0.5% cost. There are no fees if you have one of their paid cards.
You get an automatic spend notice by means of the app, if you choose to install it.
The money is drawn from your current account a few days later on.
Here is an example. Without any foreign travel in the journal, I chose to sprinkle out and buy 1,000 MeliaRewards points for EUR5.

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

Converting pounds was pricey.

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

Fortunately in the last few years a handful of great travel debit cards have popped onto the scene … and like other great cards  assures huge savings (85%) and a fantastic app.

But 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 invest money you have in your existing bank account with less stress over lacking cash and the extra action. However that does not mean it is perfect.

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

FX markup.
While our premium plans have no FX markup, we charge a small FX markup on our Essential Plan of 0.5% per transaction, permitting us to make profits from our Necessary Plan whilst staying much cheaper than other prepaid cards and high-street debit cards. We likewise charge an FX markup on ATM usage over the totally free quantity on all our plans, complete information can be found on our rates plans.

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

Interchange.
Whenever you invest with your card we get a little % of the deal, called interchange, this comes straight from the merchant and will not be charged to you. Currensea Card Find Sort Code