Where Can I Spend My Currensea Card – Best Travel Cards

A brand-new fintech business which I was introduced to earlier this year. Where Can I Spend My Currensea Card…

It has actually won a couple of awards over current months for what it does (providing you an affordable way to invest abroad) but what I like about  is that it is easy as hell. This is a good thing.

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 merely invest as you would on a regular debit card and the money is drawn from your bank account– simply without the normal 3% cost.

Oh, and  is complimentary to request, which likewise assists.

There are also some interesting travel benefits if you select a paid plan, however the free plan works fine. You can apply here.

There is a service model in fintech which Curve, Revolut, Monzo etc have all followed:

launch by doing one thing well, and for free or cheaper than the competitors
include increasingly more functions which your existing clients do not really need or want

add charges, restrictions or charges to the function that made individuals get your product in the first place, eliminating any competitive advantage
is currently still in Phase 1 of this procedure and will hopefully stay there. Monzo, curve and revolut are already in Phase 3 …
is easy enough that it passes my ‘Can you discuss it to your mate in the club 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 small 0.5% cost.

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 fees, then you don’t require a  card, unless you desire totally free ATM withdrawals. You can stop reading now.

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

IS possibly for you if:

you don’t have a credit card offering 0% FX fees and do not want to affect your credit report by getting another charge card particularly to use abroad
you want an item which permits you to make �,� 500 of foreign currency ATM withdrawals each month without any fees and just a minimal FX mark-up (there is a little cost beyond �,� 500).
you want an item for you, your adult children, parents, partner or anybody else in your life who needs a basic, easy to understand payment card that will save them cash when taking a trip.

How does  operate in practice?
It is, as I said earlier, a very easy 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 current account bank automatically verifies that you have enough money 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 free card. If you have one of their paid cards, there are no charges.
You get an automated invest alert by means of the app, if you select to install it.
The cash is drawn from your bank account a couple of days later on.
Here is an example. With no 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 reveals �,� 4.33 set up to leave my HSBC account a couple of days later on:.

However transforming pounds was pricey.

A pet peeve of mine is when ATMs forewarn you about the daylight burglary that is practically to occur (typically in a different language) while not telling you about the expensive currency conversion costs taking place in the background. Don’t get me began. Anyway back to the positives for a bit anyhow.

Thankfully recently a handful of fantastic travel debit cards have actually popped onto the scene … and like other excellent cards  assures big cost savings (85%) and an excellent app.

I think the best bit might 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 current account with less stress over running out of cash and the additional step. But that does not indicate it is best.

In this Currensea review is the excellent, 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 nominal FX markup on our Vital Plan of 0.5% per deal, enabling us to make earnings from our Essential Plan whilst remaining much cheaper than other pre-paid cards and high-street debit cards. We likewise charge an FX markup on ATM usage over the complimentary amount on all our plans, full information can be discovered on our pricing strategies.

Membership fees.
We charge an annual membership cost of �,� 25 for our Premium Plan, and �,� 120 for our Elite Plan. The subscription cost also eliminates all FX markup on transactions.

Interchange.
Each time you spend with your card we get a small % of the deal, known as interchange, this comes directly from the merchant and won’t be charged to you. Where Can I Spend My Currensea Card