Can I Use My Currensea Card In New Zealand – Best Travel Cards

A new fintech company which I was introduced to previously this year. Can I Use My Currensea Card In New Zealand…

It has won a few awards over recent months for what it does (using you a low-priced way to spend abroad) however what I like about  is that it is easy as hell. This is a good thing.

is, effectively, 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 merely spend as you would on a typical debit card and the cash is taken from your bank account– just without the normal 3% fee.

Oh, and  is free to get, which also helps.

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

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

launch by doing something well, and free of charge or less expensive than the competition
add increasingly more features which your existing consumers do not actually want or need

include fees, charges or limitations to the feature that made people get your product in the first place, eliminating any competitive advantage
is currently still in Phase 1 of this process and will hopefully stay there. Revolut, curve and monzo are already in Stage 3 …
is simple enough that it passes my ‘Can you explain it to your mate in the club in 30 seconds?’ test:

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

That’s it.

You do not (yet …) earn 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 do not require a  card, unless you desire complimentary ATM withdrawals. You can stop reading now.

Credit cards which provide benefits and charge 0% FX fees are few 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 costs in the Euro zone.

IS perhaps for you if:

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

How does  operate in practice?
It is, as I stated previously, a really 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, worldwide).
Your bank account bank immediately verifies that you have adequate cash in your account and authorises the deal.
The transaction goes through at either the interbank rate or the Mastercard rate, depending on the currency. If you have the totally free card,  includes a 0.5% fee. There are no fees if you have among their paid cards.
You get an automatic invest alert through the app, if you select to install it.
The money is taken from your current account a few days later on.
Here is an example. Without any foreign travel in the journal, I chose to splash out and purchase 1,000 MeliaRewards points for EUR5.

This is what you see in the Currensea app, which reveals �,� 4.33 arranged 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 almost to happen (typically in a different language) while not telling you about the inflated currency conversion fees occurring in the background. Don’t get me started. Anyhow back to the positives for a bit anyway.

Luckily recently a handful of great travel debit cards have actually popped onto the scene … and like other terrific cards  guarantees huge cost savings (85%) and a terrific app.

I think the best 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 bank account with less worry about running out of cash and the additional step. That does not suggest it is ideal.

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

FX markup.
While our premium strategies have no FX markup, we charge a nominal FX markup on our Essential Plan of 0.5% per transaction, enabling 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 use over the complimentary amount on all our plans, full details can be found 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 gets rid of all FX markup on deals.

Interchange.
Each time you spend with your card we get a little % of the deal, called interchange, this comes directly from the merchant and will not be charged to you. Can I Use My Currensea Card In New Zealand