How Do I Load My Currensea Card – Best Travel Cards

A brand-new fintech company which I was introduced to earlier this year. How Do I Load My Currensea Card…

It has actually won a couple of awards over recent months for what it does (offering you a low-cost way 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. It is a Mastercard which sits between you and your existing bank account. There is nothing to top-up or prepay. You just spend as you would on a normal debit card and the cash is drawn from your current account– just without the typical 3% fee.

Oh, and  is free to make an application for, which also helps.

There are also some fascinating travel advantages if you pick a paid strategy, but the free 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 one thing well, and for free or cheaper than the competition
add more and more features which your existing customers do not truly need or desire

include charges, costs or constraints to the feature that made individuals get your item in the first place, getting rid of any competitive advantage
is currently still in Phase 1 of this procedure and will ideally stay there. Monzo, curve and revolut are currently in Stage 3 …
is easy enough that it passes my ‘Can you explain it to your mate in the pub in 30 seconds?’ test:

It is a free direct debit card to use abroad and which immediately charges all purchases to your existing bank account in Sterling, less a little 0.5% fee.

That’s it.

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

Why would I want to get a card?
If you have a credit card offering 0% forex fees, then you do not require a  card, unless you want free ATM withdrawals. You can stop reading now.

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

IS potentially for you if:

you don’t have a credit card offering 0% FX costs and do not want to affect 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 monthly with no costs and only a very little FX mark-up (there is a small fee beyond �,� 500).
you want an item for you, your adult children, moms and dads, partner or anyone else in your life who requires a basic, easy to understand payment card that will conserve them money when travelling.

How does  work in practice?
It is, as I stated earlier, a very basic 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 immediately validates that you have adequate 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% cost. If you have one of their paid cards, there are no fees.
You get an automatic spend alert via 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 buy 1,000 MeliaRewards points for EUR5.

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

But transforming pounds was costly.

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

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

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

What this implies is you can invest money you have in your existing bank account with less worry about running out of money and the extra step. But that does not imply it is best.

In this Currensea evaluation is the great, the bad, the awful and the options, so that you can choose.

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 revenue from our Necessary Plan whilst remaining more affordable than other pre-paid cards and high-street debit cards. We likewise charge an FX markup on ATM use over the totally free amount on all our strategies, complete details can be found on our prices strategies.

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

Interchange.
Every time 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. How Do I Load My Currensea Card