Currensea Vs Curve – Best Travel Cards

A brand-new fintech business which I was introduced to previously this year. Currensea Vs Curve…

It has actually won a couple of awards over recent months for what it does (offering you a low-cost way to invest abroad) however what I like about  is that it is basic as hell. This is an advantage.

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

Oh, and  is free to look for, which likewise helps.

There are likewise some interesting travel advantages if you choose a paid plan, but the free strategy works fine. You can apply here.

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

launch by doing one thing well, and for free or more affordable than the competition
add increasingly more functions which your existing consumers do not really need or want

add costs, charges or constraints to the function that made people get your product in the first place, removing any competitive advantage
is presently still in Phase 1 of this process and will ideally remain there. Revolut, monzo and curve are already in Stage 3 …
is basic enough that it passes my ‘Can you describe it to your mate in the bar in 30 seconds?’ test:

It is a totally free direct debit card to utilize abroad and which instantly recharges all purchases to your existing bank account in Sterling, less a small 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 credit card offering 0% forex charges, then you don’t need a  card, unless you want complimentary ATM withdrawals. You can stop reading now.

Credit cards which use benefits and charge 0% FX costs are couple of and far in between. The only ‘points and miles’ alternatives which use a partial solution 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 credit card offering 0% FX costs and do not want to impact your credit report by getting another credit card specifically to use abroad
you desire an item which enables you to make �,� 500 of foreign currency ATM withdrawals each month with no costs and just a very little FX mark-up (there is a little fee beyond �,� 500).
you want an item for you, your adult kids, parents, partner or anyone else in your life who requires 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, an extremely simple process. You use your Currensea card in the same way as your existing debit card.

You make your purchase in regional currency (any currency, worldwide).
Your bank account bank automatically verifies that you have sufficient cash in your account and authorises the transaction.
The transaction goes through at either the interbank rate or the Mastercard rate, depending upon the currency. If you have the complimentary card,  adds a 0.5% charge. There are no fees if you have one of their paid cards.
You get an automated spend notification by means of the app, if you choose to install it.
The money is drawn from your bank account a few days later.
Here is an example. Without any foreign travel in the journal, I chose to sprinkle out and buy 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 few days later:.

However converting pounds was expensive.

A pet peeve of mine is when ATMs forewarn you about the daytime robbery that is almost to take place (typically in a different language) while not telling you about the exorbitant currency conversion costs occurring in the background. Don’t get me began. Anyhow back to the positives for a bit anyhow.

In recent years a handful of terrific travel debit cards have actually popped onto the scene … and like other terrific cards Currensea guarantees big cost savings (85%) and a fantastic app.

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

What this suggests is you can invest money you have in your existing current account with less worry about running out of cash and the additional step. However that does not mean it is best.

In this Currensea review is the good, the bad, the ugly and the alternatives, 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 revenue from our Important Plan whilst staying more affordable than other prepaid cards and high-street debit cards. We likewise charge an FX markup on ATM use over the complimentary quantity on all our plans, full details can be found on our pricing plans.

Subscription charges.
We charge a yearly membership fee of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Plan. The membership cost likewise eliminates all FX markup on transactions.

Interchange.
Every time you invest with your card we receive a little % of the deal, called interchange, this comes directly from the merchant and will not be credited you. Currensea Vs Curve