Can I Use A Currensea Card In An Atm – Best Travel Cards

A brand-new fintech business which I was introduced to earlier this year. Can I Use A Currensea Card In An Atm…

It has won a few awards over recent months for what it does (providing you a low-priced way to invest abroad) but what I like about  is that it is easy as hell. This is an advantage.

is, successfully, a direct debit travel card. It is a Mastercard which sits between you and your existing bank account. There is absolutely nothing to top-up or prepay. You simply spend as you would on a regular debit card and the money is taken from your bank account– simply without the normal 3% fee.

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

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

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

launch by doing something well, and for free or more affordable than the competition
include increasingly more functions which your existing customers do not really want or require

add charges, fees or constraints to the feature that made people get your item in the first place, removing any competitive advantage
is currently still in Phase 1 of this procedure and will hopefully stay there. Monzo, revolut and curve are already in Phase 3 …
is simple enough that it passes my ‘Can you discuss it to your mate in the pub in 30 seconds?’ test:

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

That’s it.

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

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

Credit cards which offer rewards and charge 0% FX charges are couple of and far in between. The only ‘miles and points’ choices which use a partial option are the Virgin Atlantic credit cards which have 0% FX charges in the Euro zone.

IS potentially for you if:

you don’t have a charge card offering 0% FX charges and do not wish to impact your credit report by getting another charge card particularly to use abroad
you want a product which permits you to make �,� 500 of foreign currency ATM withdrawals each month with no charges and only a minimal FX mark-up (there is a small charge beyond �,� 500).
you want a product for you, your adult children, moms and dads, partner or anybody else in your life who requires a basic, easy to understand payment card that will save them cash when taking a trip.

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

You make your purchase in local currency (any currency, globally).
Your current account bank automatically validates that you have enough cash in your account and authorises the transaction.
The transaction 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 costs.
You get an automated spend notification via the app, if you choose to install it.
The cash is drawn from your bank account a couple of days later.
Here is an example. With no foreign travel in the journal, I decided to sprinkle out and purchase 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 couple of days later:.

Transforming pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daylight robbery that is just about to occur (typically in a various language) while not telling you about the exorbitant currency conversion charges happening in the background. Don’t get me began. Anyway back to the positives for a bit anyway.

Fortunately in recent years a handful of fantastic travel debit cards have popped onto the scene … and like other fantastic cards  assures big savings (85%) and a fantastic app.

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

What this means is you can invest cash you have in your existing bank account with less worry about lacking cash and the additional step. That does not mean it is ideal.

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

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, permitting us to make revenue from our Vital Strategy 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 complimentary amount on all our plans, complete details can be discovered on our pricing strategies.

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

Interchange.
Whenever you spend with your card we get a little % of the deal, referred to as interchange, this comes straight from the merchant and will not be charged to you. Can I Use A Currensea Card In An Atm