Currensea Free Card Referral – Best Travel Cards

A brand-new fintech business which I was introduced to earlier this year. Currensea Free Card Referral…

It has won a couple of awards over recent months for what it does (using you an inexpensive method to spend abroad) however what I like about  is that it is basic as hell. This is a good idea.

is, successfully, a direct debit travel card. You merely spend as you would on a regular debit card and the cash is taken from your present account– just without the typical 3% fee.

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

There are likewise some fascinating travel benefits if you choose a paid plan, but the totally free plan works fine. You can use here.

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

launch by doing something well, and free of charge or cheaper than the competition
add increasingly more features which your existing consumers do not really desire or need

add charges, charges or restrictions 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 stay there. Monzo, curve and revolut are currently in Phase 3 …
is simple enough that it passes my ‘Can you describe it to your mate in the bar in 30 seconds?’ test:

It is a totally free direct debit card to use abroad and which automatically recharges all purchases to your existing bank account in Sterling, less a small 0.5% fee.

That’s it.

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

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

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

IS potentially for you if:

you don’t have a charge card offering 0% FX charges and do not want to impact your credit report by getting another credit card particularly to use abroad
you want an item which allows you to make �,� 500 of foreign currency ATM withdrawals per month without any costs and only a very little FX mark-up (there is a small charge beyond �,� 500).
you desire an item for you, your adult children, parents, partner or anyone else in your life who needs an easy, easy to understand payment card that will conserve them money when travelling.

How does  work in practice?
It is, as I said previously, an extremely easy procedure. You utilize 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 automatically confirms that you have enough 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% charge. There are no costs if you have among their paid cards.
You get an automated invest notice via the app, if you select to install it.
The cash is drawn from your current account a few days later.
Here is an example. Without any foreign travel in the journal, I decided to sprinkle out and purchase 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:.

Converting pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daylight burglary that is just about to occur (typically in a different language) while not telling you about the exorbitant currency conversion fees occurring in the background. Do not get me began. Anyhow back to the positives for a bit anyway.

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

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

What this means is you can spend cash you have in your existing bank account with less stress over running out of cash and the additional step. That does not mean it is best.

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

FX markup.
While our premium plans have no FX markup, we charge a nominal FX markup on our Essential Plan of 0.5% per deal, permitting us to make income from our Essential Plan whilst remaining more affordable than other prepaid cards and high-street debit cards. We also charge an FX markup on ATM usage over the totally free amount on all our strategies, complete details can be found on our pricing plans.

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

Interchange.
Every time you invest with your card we receive a small % of the transaction, referred to as interchange, this comes directly from the merchant and won’t be credited you. Currensea Free Card Referral