Junior Currensea Card – Best Travel Cards

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

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

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

Oh, and  is totally free to request, which also helps.

There are also some fascinating travel advantages if you select a paid plan, however the free plan works fine. You can use here.

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

launch by doing one thing well, and for free or more affordable than the competition
add increasingly more functions which your existing customers don’t truly desire or need

include constraints, charges or fees to the function that made people get your product in the first place, getting rid of any competitive advantage
is presently still in Stage 1 of this process and will ideally stay there. Curve, monzo and revolut are currently 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 free direct debit card to utilize abroad and which immediately recharges all purchases to your existing bank account in Sterling, less a small 0.5% fee.

That’s it.

You don’t (yet …) make any airline company 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 require a  card, unless you want totally free ATM withdrawals. You can stop checking out now.

However, credit cards which offer benefits and charge 0% FX costs are few and far between. The only ‘miles and points’ options which provide a partial service are the Virgin Atlantic credit cards which have 0% FX costs in the Euro zone.

IS perhaps for you if:

you don’t have a credit card offering 0% FX charges and do not want to affect your credit report by getting another credit card specifically to use abroad
you desire an item which permits you to make �,� 500 of foreign currency ATM withdrawals per month with no costs and just a very little FX mark-up (there is a little fee beyond �,� 500).
you desire a product for you, your adult children, moms and dads, partner or anyone else in your life who requires a simple, easy to understand payment card that will save them cash when travelling.

How does  work in practice?
It is, as I stated earlier, a really easy process. You use your Currensea card in the same way as your existing debit card.

You make your purchase in regional currency (any currency, globally).
Your current account bank automatically validates 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 on the currency. adds a 0.5% charge if you have the free card. There are no charges if you have among their paid cards.
You get an automatic spend notice by means of the app, if you select to install it.
The cash is taken from your bank 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 shows �,� 4.33 arranged to leave my HSBC account a few days later:.

Transforming pounds was costly.

A pet peeve of mine is when ATMs forewarn you about the daytime robbery that is almost to take place (often in a various language) while not telling you about the exorbitant currency conversion charges happening in the background. Don’t get me began. Anyhow back to the positives for a bit anyway.

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

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

What this indicates is you can invest cash you have in your existing current account with less fret about lacking money and the additional step. However that does not suggest it is best.

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

FX markup.
While our premium plans have no FX markup, we charge a small FX markup on our Important Plan of 0.5% per deal, allowing us to make earnings from our Necessary Plan whilst remaining much cheaper than other prepaid cards and high-street debit cards. We also charge an FX markup on ATM use over the totally free quantity on all our strategies, full details can be discovered on our pricing plans.

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

Interchange.
Whenever you spend with your card we receive a little % of the transaction, known as interchange, this comes directly from the merchant and will not be credited you. Junior Currensea Card