Free Currensea Metal Card – Best Travel Cards

A brand-new fintech company which I was presented to previously this year. Free Currensea Metal Card…

It has won a couple of awards over recent months for what it does (offering you an inexpensive way to spend abroad) but what I like about  is that it is basic 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 absolutely nothing to top-up or prepay. You just spend as you would on a regular debit card and the cash is drawn from your current account– simply without the normal 3% fee.

Oh, and  is totally free to obtain, which likewise 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 an organization model in fintech which Curve, Revolut, Monzo and so on have all followed:

launch by doing one thing well, and for free or cheaper than the competition
include increasingly more features which your existing customers don’t really need or desire

add fees, restrictions or charges to the feature that made individuals get your item in the first place, eliminating any competitive advantage
is currently still in Phase 1 of this process and will ideally remain there. Revolut, curve and monzo 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 totally free direct debit card to use abroad and which automatically recharges all purchases to your existing bank account in Sterling, less a little 0.5% fee.

That’s it.

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

Why would I wish to get a card?
If you have a credit card offering 0% forex costs, then you do not need a  card, unless you desire free ATM withdrawals. You can stop checking out now.

Credit cards which use benefits and charge 0% FX charges are few and far between. The only ‘points and miles’ options which use a partial service are the Virgin Atlantic charge card which have 0% FX costs in the Euro zone.

IS perhaps for you if:

you do not have a credit card offering 0% FX costs and do not wish to impact your credit report by getting another charge card specifically to utilize abroad
you desire an item which enables you to make �,� 500 of foreign currency ATM withdrawals per month 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, moms and dads, partner or anyone else in your life who needs a basic, easy to understand payment card that will conserve them money when taking a trip.

How does  work in practice?
It is, as I stated earlier, a really simple process. 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 current account bank automatically verifies that you have enough cash in your account and authorises the deal.
The deal goes through at either the interbank rate or the Mastercard rate, depending upon the currency. If you have the free card,  adds a 0.5% charge. There are no fees if you have among their paid cards.
You get an automated spend notice via the app, if you select to install it.
The cash is taken from your bank account a couple of days later.
Here is an example. Without any foreign travel in the journal, I chose to splash out and buy 1,000 MeliaRewards points for EUR5.

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

However transforming pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daytime break-in that is just about to happen (typically in a various language) while not telling you about the expensive currency conversion fees occurring in the background. Do not get me began. Anyhow back to the positives for a bit anyway.

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

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

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

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

FX markup.
While our premium strategies have no FX markup, we charge a small FX markup on our Necessary Strategy of 0.5% per transaction, allowing us to make profits from our Vital Strategy whilst remaining much cheaper than other prepaid cards and high-street debit cards. We also charge an FX markup on ATM usage over the complimentary quantity on all our strategies, full information can be found on our rates strategies.

Subscription costs.
We charge an annual membership charge of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Plan. The subscription charge likewise removes all FX markup on deals.

Interchange.
Whenever you spend with your card we receive a little % of the transaction, referred to as interchange, this comes straight from the merchant and won’t be charged to you. Free Currensea Metal Card