When you’re on the go, it’s easy to overspend and rack up a huge bill from using your credit card. As an alternative, consider getting a prepaid card. In this post we’ll review the Currensea Card which is one of the best cards for travellers because it has no foreign transaction fees and offers support in six languages.
The Currensea Card is a prepaid Mastercard that allows you to control how much money goes into your account while travelling abroad without incurring any charges or having to worry about hidden fees. What sets this card apart from other travel debit cards is that there are no foreign transaction charges when spending in another currency- making it perfect for people who want to use their budget wisely while overseas! This also
What is Currensea?
Currensea is not an app. It is a debit card that uses the money in your bank account to buy currency at the best rate possible, then spends like your normal debit card when you use it abroad. Currensea doesn’t charge ATM withdrawal fees and you can use it for contactless overseas payments in shops/restaurants/bars etc.
How Does Currensea Work?
Currensea works by being linked to your current account. You can then use Currensea as a debit card abroad to make purchases, withdraw cash from an ATM and make contactless payments in shops/restaurants/bars etc. If you already have a normal debit card plus a travel money card for foreign spending, or two separate bank accounts, it may be more beneficial to sign up for a Currensea account. The benefits of using Currensea are:
- No foreign exchange commission fees when you use your card abroad
- Free cash withdrawals from any ATM in the world
- Contactless payments accepted just like your normal debit card at over 32 million locations worldwide
- The charge made by the bank every time you spend on your card abroad is equal to the amount that you would save by using Currensea (not the commission percentage).
- You can cancel and freeze your Currensea account at any time.
Is Currensea Safe?
Yes, Currensea is safe. All of your data is encrypted and safeguarded with the most advanced security technology.
How Do I Use Currensea?
Once you have received your debit card, just activate it online using the activation code provided by post/on screen. You can then set up a direct debit to take money from your current account to fund your Currensea card. You can keep your Currensea card topped up by transferring money between your own UK bank accounts, or by using an existing debit card linked to a UK bank account to top up funds.
Which Countries Accept Currensea?
Yes! Your Currensea debit card will work in all countries where Visa is accepted. The merchant may ask for a pin to authorise the payment and you can use your Currensea card and Pin to pay just like you would at home.
Can I Spend More than £500 with Currensea?
As long as there is enough money in your bank account, yes. Currensea can take a payment from your card for up to £500 without a guarantee of the currencies available at the time. After this, your transaction will decline unless you have sufficient funds in your bank account to cover it.
Free Plan versus Premium Plan
After you’ve made your decision, the final step is to select a plan.
The main distinction is that the premium plan charges a subscription fee rather than a modest markup on transactions.
You may upgrade to the premium one at any time
Just be aware that the premium plan is for a year, so if you decide to downgrade, you’ll have to wait until the year is over before being switched off.
Who Owns Currensea?
Currensea is owned and operated by Yolo Technologies Ltd, a private company registered in England and Wales whose registered office is at Pembroke House, 10th Floor, St James’ Place, London.
How Do I Get Currensea?
Currensea will charge you £5 per month (paid quarterly). After that, you will be able to benefit from zero ATM fees and zero foreign exchange rates. Your monthly fee is a one-off payment. Currensea doesn’t have any transaction limits, so if you’re going overseas for a week or for a few months, it makes no difference at all to the price.
How Can I Order Currensea?
Fill out the form on the Currensea.com website and you will get an email confirmation with further instructions.
When you receive this information, just select your bank from the list of participating banks on their site and choose whether to create a new bank account or add them to an exsiting one. You’ll need your main UK debit or credit card and some photo ID/proof of address to get started. (Note: They do not accept American Express).
Currensea is not available in the US, but there are other options for international travelers like Wirex (visa or MasterCard) or TransferWise . It’s also possible to get a zero fee foreign currency account from CapitalOne or NatWest.
Once you set up the Currensea card, it will link up to your bank account and you can start spending abroad without all of those pesky fees! Your £5 monthly fee includes:
- Any ATM withdrawals abroad (up to a certain limit).
- 1% cashback on foreign currency spending.
- 1% fee on foreign currency ATM withdrawals above the limit.