What Is Currensea?
Do we really need to jump through hoops in order to avoid fees, or should we be charged to spend money in other countries? In order to provide a straightforward and open solution to that issue, Currensea was developed.
After returning from their summer vacations with their families in 2017, two former investment bankers were fed up with the high charges that their banks imposed on them. Pre-pay cards and other bank accounts were both possibilities that they had attempted, but due to the hassle of constantly topping off their cards, maintaining distinct balances, and the eventual declines of their cards, these choices were leaving them in a state of disarray.
The two of them were both aware that there had to be a more efficient method, so they came up with a multi-currency debit card that can be linked directly to an existing bank account while removing the fees that banks impose when they are used in other countries. Consequently, the idea of Currensea came into being.
How Currensea works?
Link your bank account
Your UK bank account is connected to Currensea, which eliminates the need for you to pay bank fees when you spend money in other currencies. There will be no need to fund the account, transfer money, or open a new bank account.
Pay with your Currensea card
All 180 currencies from across the world are accepted for payment. You receive a notification from the app as well as an email that details your spending and savings when you use Currensea as opposed to your bank. Transactions are processed at the real-time rate and there are no costs associated with them.
That’s it! Enjoy the savings
Every transaction is displayed in the Currensea app on your device. They will automatically debit your linked bank account by Direct Debit, and after the transaction has been processed, it will also be reflected in your existing online banking app.
Currensea pricing plans
Currensea plans are straightforward and easy to understand. They provide you the most competitive current exchange rate, allowing you to spend with complete peace of mind and without any additional costs.
Essential
£0/year
The Essential one, priced at £0 per year, offers a competitive 0.5% foreign exchange (FX) rate for both card spending and ATM withdrawals. With fee-free ATM withdrawals abroad, this membership ensures cost-effective international transactions. Additionally, users benefit from a 2% FX rate on amounts exceeding £500 per month. The Essential membership provides market-beating money transfer services, allowing transfers ranging from £100 to £20,000 per transaction.
Advanced security features include spend notifications, the ability to set spend limits, and the option to freeze/unfreeze the card for added control. Purchase protection and Mastercard chargeback protection enhance the security of transactions. With the ability to spend in 180 currencies and access the best live interbank exchange rates, this membership also offers the perk of earning Singapore Airlines KrisFlyer air miles, allowing users to convert savings into air miles. The Mastercard travel debit card comes with free delivery, providing a comprehensive and cost-effective solution for international financial transactions and travel-related expenses.
Premium
£25/year
The Premium , priced at £25 per year, stands out as a comprehensive and value-packed option for international travelers. With a market-leading 0% foreign exchange (FX) rate for both card spending and ATM withdrawals, users benefit from cost-effective international transactions. The membership includes fee-free ATM withdrawals abroad and offers a favorable 1% FX rate on amounts exceeding £500 per month. Additionally, the Premium membership provides market-beating money transfer services, allowing users to send £100 to £20,000 per transfer. Advanced security features, such as spend notifications, customizable spend limits, and the ability to freeze/unfreeze the card, enhance transaction control. Purchase protection and Mastercard chargeback protection add an extra layer of security.
With the flexibility to spend in 180 currencies and access the best live interbank exchange rates, users also earn Singapore Airlines KrisFlyer air miles, converting savings into air miles. The Mastercard travel debit card, delivered for free, comes with exclusive access to the latest offers, car hire benefits with Hertz Gold Plus Rewards, and a 20% worldwide discount with Avis. Additionally, Preferred Hotels & Resorts offer a complimentary night’s stay when booking a trip of 4 nights or more, making the Premium membership an all-encompassing solution for international financial transactions and travel-related perks.
Elite
£120/year
Elite , at £120 a year, offers the best financial and travel services and exclusive benefits for discerning consumers. Elite membership offers cost-effective international transactions with a market-leading 0% FX rate for card spending and ATM withdrawals globally. Users have unmatched financial flexibility with fee-free ATM withdrawals overseas and a competitive 1% FX rate for sums over £750 per month. Members can send £100 to £20,000 per transfer with market-beating money transfer services. Advanced security features include spend notifications, customisable expenditure restrictions, and card freeze/unfreeze improve control.
Purchase and Mastercard chargeback protection ensure money security. Spend in 180 currencies and get the best real interbank exchange rates while earning Singapore Airlines KrisFlyer flight miles. Free Mastercard World Elite travel debit cards come with Elite membership. Elite members receive premium offers, unique Avis President’s Club and Hertz President’s Circle car hire privileges, and Preferred Hotels & Resorts perks like 4 nights for 3 and ‘Elite I Prefer Member Status.’ Elite members also receive world-class concierge services by “Ten” for 24/7 travel assistance, worldwide airport lounge access with LoungeKeyTM, and lavish perks at luxury hotels and resorts like complimentary breakfast, room upgrades, and more, making it a complete financial and travel solution.
MONEY TRANSFER
An all-transfer fee of 0.5 percent is applied. Money transfers abroad are now easier and more transparent than ever before thanks to a tiny flat cost of 0.5% and the same interbank exchange rate as your Currensea travel debit card. Transfer funds from your UK bank account to an account in EUR, PLN, HUF, or USD ranging from £100 to £20,000 each transfer. You can utilise Currensea money transfer calculator before completing a transfer if you already have a Currensea travel debit card and log into your account via the app.
How to use Currensea’s Money Transfer
1: Login to your Currensea account
To initiate a money transfer, visit your Currensea dashboard, choose “More,” and then swipe to the right.
2: How much do you want to send?
Provide the amount of GBP that you wish to transfer in either EUR, USD, PLN, or HUF, and Currensea will provide you with an accurate estimate of the amount that the receiver will get as well as the amount that you will be responsible for paying.
3: How much do you want to send?
Simply enter the amount of GBP that you wish to send in either EUR, USD, PLN, or HUF, and Currensea will provide you with an accurate explanation of how much the receiver will get as well as the amount that you will be charged for the transaction.
4: Let them know who you want to transfer money to
You have the option of adding a new recipient in EUR, USD, PLN, or HUF by following the instructions, or you can select someone from the recipient list that you already have.
5: Currensea send the funds
If you get funds on a weekday before 9 p.m., they will be sent the following working day. On the other hand, funds that are received over the weekend should be delivered the following Tuesday.
Why Do We Choose Currensea?
Currensea stands out as a compelling choice for travelers seeking a seamless and economical way to spend abroad. By directly linking to your existing bank account, it eliminates the need for preloading or managing a separate travel card, while also offering competitive exchange rates without the hefty bank fees. Additionally, its enhanced security features ensure peace of mind, making it a convenient and trustworthy companion for both seasoned and occasional travelers.
