Topping Up Currensea Card – Best Travel Cards

A new fintech company which I was presented to previously this year. Topping Up Currensea Card…

It has actually won a couple of awards over recent months for what it does (providing you a low-cost method to invest abroad) however what I like about  is that it is simple as hell. This is a good idea.

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

Oh, and  is complimentary to obtain, which likewise helps.

There are likewise some fascinating travel benefits if you pick a paid plan, however the free plan works fine. You can use here.

There is a business design in fintech which Curve, Revolut, Monzo etc have all followed:

launch by doing something well, and totally free or more affordable than the competitors
add more and more features which your existing customers don’t actually want or need

include fees, charges or restrictions to the feature that made individuals get your item in the first place, eliminating any competitive advantage
is presently still in Phase 1 of this procedure and will hopefully remain there. Monzo, revolut and curve are already in Stage 3 …
is basic enough that it passes my ‘Can you explain it to your mate in the bar in 30 seconds?’ test:

It is a complimentary direct debit card to use abroad and which instantly recharges all purchases to your existing current account in Sterling, less a little 0.5% fee.

That’s it.

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

Why would I want to get a card?
If you have a charge card offering 0% foreign exchange costs, then you don’t need a  card, unless you want totally free ATM withdrawals. You can stop reading now.

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

IS possibly for you if:

you do not have a charge card offering 0% FX charges and do not wish to affect your credit report by getting another charge card particularly to utilize abroad
you desire a product which allows you to make �,� 500 of foreign currency ATM withdrawals per month with no fees and only a very little FX mark-up (there is a little charge beyond �,� 500).
you want an item for you, your adult children, moms and dads, partner or anybody else in your life who needs a simple, easy to understand payment card that will save them cash when taking a trip.

How does  work in practice?
It is, as I stated previously, an extremely 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 bank account bank immediately confirms 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. includes a 0.5% charge if you have the complimentary card. If you have one of their paid cards, there are no costs.
You get an automatic spend notice via the app, if you choose to install it.
The money is taken from your bank account a couple of days later.
Here is an example. With no foreign travel in the diary, I decided to splash out and buy 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 couple of days later on:.

But converting pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daylight burglary that is practically to happen (often in a various language) while not telling you about the outrageous currency conversion charges occurring in the background. Don’t get me began. Anyhow back to the positives for a bit anyway.

Thankfully over the last few years a handful of excellent travel debit cards have actually popped onto the scene … and like other excellent cards  promises big savings (85%) and an excellent app.

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

What this suggests is you can spend money you have in your existing bank account with less fret about lacking cash and the additional action. But that does not indicate it is ideal.

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

FX markup.
While our premium strategies have no FX markup, we charge a small FX markup on our Important Plan of 0.5% per deal, enabling us to make profits from our Essential Strategy whilst remaining more affordable than other pre-paid cards and high-street debit cards. We likewise charge an FX markup on ATM usage over the totally free amount on all our plans, full details can be found on our pricing strategies.

Subscription fees.
We charge a yearly subscription cost of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Strategy. The subscription charge also gets rid of all FX markup on deals.

Interchange.
Each time you invest with your card we receive a little % of the transaction, known as interchange, this comes directly from the merchant and won’t be credited you. Topping Up Currensea Card