Is Te Currensea Card Good For Traveling Vietnam 2019 – Best Travel Cards

A new fintech business which I was introduced to previously this year. Is Te Currensea Card Good For Traveling Vietnam 2019…

It has won a couple of awards over recent months for what it does (providing you an affordable way to spend abroad) however what I like about  is that it is simple as hell. This is an advantage.

is, effectively, a direct debit travel card. It is a Mastercard which sits in between you and your existing current account. There is absolutely nothing to top-up or prepay. You just invest as you would on a regular debit card and the money is taken from your bank account– just without the typical 3% cost.

Oh, and  is free to apply for, which also helps.

There are also some intriguing travel advantages if you pick a paid strategy, however the complimentary plan works fine. You can use here.

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

launch by doing one thing well, and free of charge or less expensive than the competitors
add a growing number of functions which your existing customers don’t really need or desire

include charges, costs or restrictions to the feature that made individuals get your product in the first place, getting rid of any competitive advantage
is presently still in Phase 1 of this process and will hopefully stay there. Monzo, revolut and curve are already 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 totally free direct debit card to utilize abroad and which automatically charges all purchases to your existing bank account in Sterling, less a small 0.5% fee.

That’s it.

You do not (yet …) earn any airline miles or points for using it.

Why would I wish to get a card?
If you have a charge card offering 0% forex charges, then you do not need a  card, unless you want complimentary ATM withdrawals. You can stop checking out now.

Nevertheless, charge card which offer rewards and charge 0% FX charges are rare. The only ‘miles and points’ choices which provide a partial option are the Virgin Atlantic charge card which have 0% FX costs in the Euro zone.

IS perhaps for you if:

you don’t have a charge card offering 0% FX charges and do not want to affect your credit report by getting another charge card specifically to utilize abroad
you want a product which permits you to make �,� 500 of foreign currency ATM withdrawals monthly without any charges and just a minimal FX mark-up (there is a small cost beyond �,� 500).
you want a product for you, your adult kids, parents, partner or anyone else in your life who needs a basic, easy to understand payment card that will save them money when taking a trip.

How does  operate in practice?
It is, as I stated previously, a really simple procedure. You use 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 instantly verifies that you have sufficient cash in your account and authorises the deal.
The deal goes through at either the interbank rate or the Mastercard rate, depending on the currency. includes a 0.5% fee if you have the totally free card. If you have one of their paid cards, there are no fees.
You get an automated spend notice via the app, if you choose 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 splash 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 few days later on:.

But converting pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daylight burglary that is practically to happen (frequently in a different language) while not telling you about the inflated currency conversion costs occurring in the background. Do not get me started. Anyhow back to the positives for a bit anyhow.

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

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

What this indicates is you can spend cash you have in your existing current account with less fret about running out of cash and the extra step. But that does not mean it is perfect.

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

FX markup.
While our premium strategies have no FX markup, we charge a nominal FX markup on our Vital Strategy of 0.5% per deal, allowing us to make income from our Important Strategy whilst staying 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 plans, full details can be found on our pricing plans.

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

Interchange.
Whenever you invest with your card we get a small % of the deal, known as interchange, this comes straight from the merchant and will not be credited you. Is Te Currensea Card Good For Traveling Vietnam 2019