Currensea is a “travel direct debit card” that aims to make your travels abroad easier by giving you the best exchange rates and eliminating transaction fees.<\/p>
It sits as a “layer” in front of your existing high street bank account – so you can spend for free on your Currensea card overseas, and it then debits you bank account for the amount you’ve spent, avoiding any overseas transaction fees your bank may have normally charged you.<\/p>
Currensea was founded by ex-JPMorgan CTO Craig Goulding and banking entrepreneur James Lynn, both of whom wanted to remove all the extra charges that often come with spending money abroad. Seeing that there was no card really addressing this, they created the UK’s first travel money card that links directly to your bank account.<\/p>
This also means you don’t have the hassle of topping up or prepaying for a travel card, or having money leftover and locked up in prepaid cards or separate bank accounts when you return home.<\/p>
Currensea’s debit card works by connecting to your existing high street bank account, so there’s no need to sign up for and manage a new bank account or prepaid card. Registering for a Currensea card takes minutes and doesn’t require much formality or unnecessary effort.<\/p>
After signing up, you just connect Currensea with your main bank account and activate your Currensea debit card once you receive it. After this, any time you use your Currensea card, you don’t have to worry about overseas transaction fees (that your bank may have normally charged) and you can also benefit from competitive exchange rates.<\/p>
Currensea is regulated by the Financial Conduct Authority and is registered to use Open Banking technology. Plus, it connects to your existing bank account and only makes transactions via direct debit on authorised transactions. It can’t access or store your online banking credentials, so you can rest assured that your money will be safe when using the service. All transactions made using Currensea are covered by Mastercard’s chargeback protection.<\/p>
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