Currensea Metal Debit Card Reviews – Best Travel Cards

A new fintech business which I was introduced to earlier this year. Currensea Metal Debit Card Reviews…

It has won a few awards over current months for what it does (providing you a low-priced 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 merely invest as you would on a regular debit card and the money is taken from your present account– simply without the normal 3% cost.

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

There are likewise some intriguing travel advantages if you pick a paid strategy, but the free plan works fine. You can apply here.

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

launch by doing one thing well, and for free or more affordable than the competitors
add more and more features which your existing consumers don’t really require or want

add restrictions, costs or charges to the feature that made people get your item in the first place, eliminating any competitive advantage
is presently still in Phase 1 of this process and will hopefully remain there. Curve, Revolut and Monzo are currently in Phase 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 use abroad and which immediately charges all purchases to your existing current account in Sterling, less a small 0.5% cost.

That’s it.

You don’t (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 do not need a  card, unless you desire free ATM withdrawals. You can stop checking out now.

Nevertheless, credit cards which use rewards and charge 0% FX fees are scarce. The only ‘miles and points’ choices which use a partial service 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 want to affect your credit report by getting another credit card specifically to use abroad
you want an item which permits you to make �,� 500 of foreign currency ATM withdrawals each month with no fees and just a minimal FX mark-up (there is a little charge beyond �,� 500).
you want a product for you, your adult children, moms and dads, partner or anyone else in your life who requires an easy, easy to understand payment card that will conserve them money when travelling.

How does  operate in practice?
It is, as I stated earlier, a very simple procedure. You utilize your Currensea card in the same way as your existing debit card.

You make your purchase in local currency (any currency, worldwide).
Your current account bank automatically verifies that you have enough 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. If you have the complimentary card,  adds a 0.5% charge. There are no costs if you have among their paid cards.
You get an automated spend notice through the app, if you choose to install it.
The money is drawn from your bank account a few days later.
Here is an example. Without any foreign travel in the journal, I decided to splash 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 few days later:.

Converting pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daytime burglary that is just about to happen (often in a various language) while not telling you about the inflated currency conversion charges happening in the background. Do not get me started. Anyway back to the positives for a bit anyway.

Luckily in the last few years a handful of excellent travel debit cards have popped onto the scene … and like other terrific cards  promises big savings (85%) and a terrific app.

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

What this suggests is you can spend money 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 excellent, the bad, the awful and the options, so that you can decide.

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

Subscription costs.
We charge a yearly membership fee 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 invest with your card we receive a little % of the transaction, called interchange, this comes directly from the merchant and won’t be credited you. Currensea Metal Debit Card Reviews