A brand-new fintech company which I was presented to earlier this year. Can I Use My Currensea Card In Croatia…
It has won a few 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 basic as hell. This is a good thing.
is, effectively, a direct debit travel card. You simply invest as you would on a regular debit card and the money is taken from your existing account– simply without the usual 3% fee.
Oh, and is complimentary to get, which likewise assists.
There are likewise some intriguing travel advantages if you pick a paid plan, however the free strategy works fine. You can apply here.
There is an organization model in fintech which Curve, Revolut, Monzo and so on have actually all followed:
launch by doing something well, and totally free or cheaper than the competitors
add a growing number of features which your existing customers don’t actually need or want
add charges, fees or limitations to the feature that made people get your item in the first place, getting rid of any competitive advantage
is presently still in Phase 1 of this procedure and will ideally stay there. Curve, monzo and revolut are currently in Phase 3 …
is basic enough that it passes my ‘Can you describe it to your mate in the pub in 30 seconds?’ test:
What countries can I use Currensea? Can I Use My Currensea Card In Croatia
It is a complimentary direct debit card to use abroad and which automatically recharges all purchases to your existing bank account in Sterling, less a little 0.5% fee.
You do not (yet …) earn any airline miles or points for using it.
Why would I want to get a card?
If you have a charge card offering 0% forex fees, then you don’t need a card, unless you want complimentary ATM withdrawals. You can stop reading now.
However, credit cards which provide benefits and charge 0% FX costs are rare. The only ‘points and miles’ alternatives which provide a partial option 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 costs and do not want to impact your credit report by getting another charge card particularly to utilize abroad
you want a product which allows you to make , 500 of foreign currency ATM withdrawals monthly with no costs and only a very little FX mark-up (there is a little cost beyond , 500).
you want an item for you, your adult children, moms and dads, partner or anybody else in your life who requires an easy, easy to understand payment card that will conserve them cash when taking a trip.
How does operate in practice?
It is, as I said previously, a really basic procedure. 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 bank account bank instantly verifies that you have adequate money in your account and authorises the transaction.
The transaction goes through at either the interbank rate or the Mastercard rate, depending on the currency. If you have the free card, includes a 0.5% charge. There are no charges if you have one of their paid cards.
You get an automated invest notification via the app, if you pick to install it.
The money is drawn from your current account a couple of days later on.
Here is an example. Without any foreign travel in the diary, I decided to splash out and purchase 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 few days later on:.
Converting pounds was pricey.
A pet peeve of mine is when ATMs forewarn you about the daylight robbery that is just about to occur (often in a various language) while not telling you about the inflated currency conversion costs happening in the background. Don’t get me started. Anyhow back to the positives for a bit anyway.
Luckily in recent years a handful of fantastic travel debit cards have popped onto the scene … and like other great cards guarantees big savings (85%) and a great app.
I believe the finest bit might be what no other card does: connects to your existing high street bank account.
What this implies is you can spend money you have in your existing current account with less fret about running out of money and the additional action. However that does not mean it is perfect.
In this Currensea review is the great, the bad, the awful and the options, so that you can decide.
While our premium strategies have no FX markup, we charge a nominal FX markup on our Essential Strategy of 0.5% per deal, allowing us to make profits from our Important Strategy whilst remaining much cheaper than other prepaid cards and high-street debit cards. We likewise charge an FX markup on ATM usage over the free quantity on all our strategies, complete information can be found on our pricing strategies.
We charge a yearly subscription fee of , 25 for our Premium Plan, and , 120 for our Elite Strategy. The subscription fee likewise gets rid of all FX markup on transactions.
Whenever you spend with your card we receive a little % of the deal, called interchange, this comes straight from the merchant and will not be charged to you. Can I Use My Currensea Card In Croatia