Going for a trip to another country is always an adventure, but handling money in a foreign country is not always a pleasant thing, especially when you have to pay a lot of money for the exchange. Standard debit and credit cards can have a 3-5% foreign transaction fee, which can be quite costly and sneaky throughout a trip. That is where Currensea comes in, providing a better and cheaper solution to manage foreign transactions. By choosing Currensea with 1% fee, you will be able to spend less on foreign transactions and thus, enjoy your trip.
What is Currensea?
Currensea is a travel debit card that is connected to your UK current account of choice as a means of payment while traveling without the normal steep charges associated with bank cards. Unlike your bank’s own exchange rates, which are usually expensive, Currensea uses interbank exchange rates, which are some of the best out there, and then adds a mere 1% flat fee for transactions in foreign currency.
This means that every time you use your Currensea card abroad whether it is to pay for a meal, to book a hotel or to shop at local markets, you will be saving up to 85% more than the fees which are charged by most of the traditional banks. If the priority is to get the most bang for your buck, then it’s the low fees and better rates of Currensea.
Evaluating the 1% Fee Model of Currensea
The 1% fee that Currensea charges on foreign transactions is a fraction of what most UK banks charge for using their cards abroad. Credit/debit cards from the conventional financial institutions charge an additional foreign transaction fee of between 3% and 5% on the exchange rates that are usually inflated. These fees can accumulate to a significant amount for a trip especially for those who travel often or to countries with stronger currencies than the travelers own.
No additional charges or concealed fees
Transparency is one of the things that Currensea boasts about. There are no other charges or fees that are incurred apart from the 1% foreign transaction fee. There are no hidden charges for using an ATM or making transactions in other currencies, thus it will be easier to plan the expenses while traveling.
Also, Currensea does not force you to open a new account or load money into the travel card as is the case with other travel cards. It is integrated with your existing UK bank account to debit the amount from your account each time you make a transaction. This feature is convenient and also makes sure that the person using the card is always in charge of his/her financial status while in the foreign country.
A Solution for Every Traveler
The 1% fee structure of Currensea makes it possible for all travelers, including the business travelers, and those who travel for holidays. Here’s how different travelers can benefit from using Currensea:Here’s how different travelers can benefit from using Currensea:
Frequent Travelers: If you are a frequent business or leisure traveler, Currensea’s 1% fee can be a lot cheaper than the traditional high street banks when making multiple transactions. Since the card is linked to your bank account, you can use it in the same way as your debit card and do not need to keep track of several accounts.
Holidaymakers: Whether you travel once or twice a year, the difference that Currensea makes with its low fees will pay off. Whether you’re paying for a hotel, a meal or a shopping spree, you’ll spend less on foreign transaction fees and get better exchange rates.
Students Studying Abroad: International students can also take advantage of Currensea’s low fees on foreign transactions. There is no need to top up or pre-load funds meaning that daily expenses can be made and payments can be made in the local currency without the worry of losing money to high fees.
Digital Nomads: For freelancers and digital nomads who work and live in different countries, Currensea is a convenient and inexpensive service that allows you to pay for everything, starting with co-working and ending with local transport.
Superior Exchange Rates
The real power of Currensea is in providing interbank exchange rates which are the rates at which banks exchange one currency for another. These rates are considerably higher than most of the banks’ tariffs for their clients, and combined with Currensea’s 1% fee, it makes it one of the cheapest ways to spend money abroad.
Banks and travel money services providers also charge an extra amount on the exchange rate hence increasing the cost of the transaction. Currensea does not apply this markup since it provides the best rate in the market, which means more value for your money every time you use your card in a foreign currency.
Security and Assurance
But not only does Currensea help you to save money, but it also offers the level of security and protection you would expect from a leading financial services provider. The card has enhanced security measures such as real time alerts, biometric authentication and the backing of Mastercard’s secure network.
If your card is lost or stolen, you can easily freeze it through the Currensea app which will help you while traveling. Also, Currensea provides zero liability protection so you will not be held responsible for any fraudulent charges.
Conclusion: A Smarter Way to Spend: Abroad
If you are a traveler who wants to get more bang for your buck, Currensea’s 1% fee on foreign transactions is a godsend. Currensea provides interbank exchange rates and charges considerably lower than those of traditional banks, meaning that you can get the most out of your money when travelling the world.
No sneaky charges, simple to sign up for, and fully compatible with your current bank account, Currensea makes managing foreign currency cheaper, easier, and more efficient. Whether you are going on holiday, travelling for business or living overseas, Currensea’s low-cost, high-value travel card is the perfect companion for your money.
