Currensea Unlink Card – Best Travel Cards

A new fintech business which I was introduced to previously this year. Currensea Unlink Card…

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

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

Oh, and  is free to get, which likewise helps.

There are likewise some interesting travel advantages if you select a paid strategy, however the complimentary plan works fine. You can apply here.

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

launch by doing something well, and for free or cheaper than the competition
add a growing number of functions which your existing customers don’t truly require or desire

include costs, charges or constraints to the feature that made people get your product in the first place, removing any competitive advantage
is presently still in Stage 1 of this process and will hopefully stay there. Curve, monzo and revolut are already in Stage 3 …
is basic enough that it passes my ‘Can you discuss it to your mate in the pub in 30 seconds?’ test:

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

That’s it.

You do not (yet …) earn 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 fees, then you don’t need a  card, unless you want totally free ATM withdrawals. You can stop reading now.

Credit cards which offer rewards and charge 0% FX costs are couple of and far between. The only ‘miles and points’ options 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 particularly to use abroad
you desire an item which allows you to make �,� 500 of foreign currency ATM withdrawals monthly with no charges and only a minimal FX mark-up (there is a small fee beyond �,� 500).
you desire a product for you, your adult children, parents, partner or anybody else in your life who requires a basic, easy to understand payment card that will conserve them cash when travelling.

How does  operate in practice?
It is, as I stated earlier, a really easy process. 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 validates that you have enough money 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 complimentary card,  adds a 0.5% cost. If you have one of their paid cards, there are no fees.
You get an automated invest notification by means of the app, if you choose to install it.
The cash is taken from your current account a couple of days later on.
Here is an example. With no foreign travel in the journal, I chose to sprinkle out and purchase 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:.

But transforming pounds was costly.

A pet peeve of mine is when ATMs forewarn you about the daytime burglary that is practically to happen (typically in a various language) while not telling you about the exorbitant currency conversion charges taking place in the background. Don’t get me started. Anyhow back to the positives for a bit anyhow.

Thankfully recently a handful of fantastic travel debit cards have popped onto the scene … and like other fantastic cards  promises huge savings (85%) and an excellent app.

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

What this indicates is you can invest cash you have in your existing bank account with less stress over lacking money and the extra step. But that does not mean it is perfect.

In this Currensea review is the great, 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 Vital Plan of 0.5% per deal, enabling us to make earnings from our Important Strategy whilst remaining much cheaper than other pre-paid cards and high-street debit cards. We likewise charge an FX markup on ATM use over the free amount on all our strategies, full information can be found on our pricing plans.

Subscription fees.
We charge an annual membership cost of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Plan. The subscription cost also eliminates all FX markup on deals.

Interchange.
Whenever you spend with your card we get a little % of the deal, referred to as interchange, this comes directly from the merchant and will not be credited you. Currensea Unlink Card