A new fintech company which I was presented to previously this year. Can I Use My Currensea Card In Croatia…
It has actually won a couple of awards over current months for what it does (using you an affordable way to invest abroad) however what I like about is that it is basic as hell. This is a good idea.
is, efficiently, a direct debit travel card. You simply spend as you would on a regular debit card and the money is taken from your current account– just without the typical 3% fee.
Oh, and is complimentary to apply for, which also assists.
There are likewise some intriguing travel benefits if you select a paid strategy, however the free plan works fine. You can use here.
There is a company design in fintech which Curve, Revolut, Monzo and so on have all followed:
launch by doing one thing well, and totally free or less expensive than the competitors
include more and more features which your existing consumers do not actually desire or need
add costs, constraints or charges to the feature that made people get your product in the first place, getting rid of any competitive advantage
is presently still in Stage 1 of this procedure and will ideally stay there. Monzo, revolut and curve are currently in Phase 3 …
is simple enough that it passes my ‘Can you discuss it to your mate in the bar in 30 seconds?’ test:
What countries can I use Currensea? Can I Use My Currensea Card In Croatia
It is a totally free direct debit card to use abroad and which instantly charges all purchases to your existing current account in Sterling, less a little 0.5% cost.
That’s it.
You do not (yet …) make any airline company miles or points for using 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 want free ATM withdrawals. You can stop checking out now.
Credit cards which offer rewards and charge 0% FX fees are few and far in between. The only ‘miles and points’ options which use a partial service 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 specifically to use abroad
you want an item which enables you to make �,� 500 of foreign currency ATM withdrawals monthly without any charges and only a minimal FX mark-up (there is a little charge beyond �,� 500).
you desire a product for you, your adult kids, moms and dads, partner or anyone else in your life who requires an easy, easy to understand payment card that will save them money when taking a trip.
How does work in practice?
It is, as I said earlier, a really basic 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 automatically 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. adds a 0.5% charge if you have the complimentary card. There are no fees if you have among their paid cards.
You get an automated spend notification by means of the app, if you choose to install it.
The cash is taken from your bank account a couple of days later on.
Here is an example. With no foreign travel in the diary, I chose to sprinkle out and buy 1,000 MeliaRewards points for EUR5.
This is what you see in the Currensea app, which shows �,� 4.33 arranged to leave my HSBC account a few days later:.
But transforming pounds was pricey.
A pet peeve of mine is when ATMs forewarn you about the daytime break-in that is almost to happen (often in a different language) while not telling you about the expensive currency conversion fees occurring in the background. Don’t get me began. Anyhow back to the positives for a bit anyway.
Thankfully over the last few years a handful of great travel debit cards have popped onto the scene … and like other terrific cards assures huge savings (85%) and a terrific app.
I believe the best bit may 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 worry about lacking money and the additional step. However that does not indicate it is ideal.
In this Currensea review is the great, 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 small FX markup on our Essential Strategy of 0.5% per deal, allowing us to make income from our Vital Strategy whilst remaining much cheaper than other prepaid cards and high-street debit cards. We also charge an FX markup on ATM usage over the totally free amount on all our strategies, complete details can be found on our prices plans.
Membership charges.
We charge an annual membership cost of �,� 25 for our Premium Strategy, and �,� 120 for our Elite Strategy. The membership charge also eliminates all FX markup on deals.
Interchange.
Every time you spend with your card we receive a small % of the deal, called interchange, this comes straight from the merchant and won’t be credited you. Can I Use My Currensea Card In Croatia