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Currensea was founded in 2018 and they are regulated by the Financial Conduct Authority as an Authorized Payment Institution. Also, the app has raised a total of 5.3 million GBP from seed funding.
Scoring Currensea app
Using our unique scoring system, we’ve reviewed how Monese stacks up against competition and similar products in terms of fees, transfer speed, limits, and international transfers.
- Save on fees: the website claims to save you 85% on money transfer fees.
- Bank partners: Currensea has high-profile bank partners like NatWest and HSBC.
- Exchange rates: compared to other challenger banks the exchange rates are competitive.
- FCA: the app is regulated by the Financial Conduct Authority.
- Bank transfers: you cannot make bank transfers without a funding source.
- Not ideal for UK: the card is designed to be used abroad and does not make sense for UK use.
We've also looked at the online user reviews for Currensea to see how users are rating international transfers.
Currensea fees and exchange rates
Transfer fees
Exchange rates
180 countries are covered in the exchange rate policy of Currensea.
They have secured 16 major currency parings and 164 other pairings.
Check this page out to learn more about the exchange rates.
Here's how users rate Currensea's exchange rates.
Transfer fees
Currensea aims to cut the transfer fees from what you’d buy if using traditional banks separately.
You can view the charges comparison chart to see the fee structure and how it compares if you did not use Currensea.
Currensea does a good job of saving you money, but you would save even more if you were to use a money transfer service.
That’s because they provide the best transfer fees and offer speedy delivery time.
Additional costs
There is no membership charge for using Currensea unless you upgrade to the Premium or Elite versions, which are 25GBP and 120GBP per month respectively.
Here's how users rate Currensea's fees online.
Transfer speed
Transfer speed
Expect the transfer time of challenger banks to take around 1-5 business days.
To cut down on the transfer time you will need to make use of 3rd party services like Skrill and Payoneer.
Transfer limits
Transfer limits
The transfer limits associated with sending money through Currensea are the same as with your source bank.
Here's how users rate Currensea's transfer limits.
Product offering
Product offering
In addition to being a travel card, Currensea offers multiple other features:
Save the Planet: you can use the card to give a % to causes that reduce plastic use in the world.
Upgrade Membership: you can upgrade your membership to premium and Elite to enjoy added perks.
Accommodation Discounts: you can get discounts and free nights when booking at select venues.
Lounge Keys: the Elite version provides over 1,100 lounge keys worldwide.
Here's how users rate Currensea's features.
Ease of use
Ease of use
Here's how users rate Currensea's usability.
And, here's how users rated the support features of Currensea.
Safety and trust
Security and trust
Here's how users rate Currensea's safety features.
Customer feedback
User feedback
Online user reviews for Currensea are largely positive, with many frequently praising the ease of use and convenience of the service.
Many reviewers highlighted that the card is straightforward to set up and use, with seamless integration into their financial activities.
The favorable exchange rates and low transaction fees are repeatedly mentioned as significant benefits, making Currensea a cost-effective option for international transfers. Users also appreciated the excellent customer service and support provided.
However, there are a few mentions of transaction issues, where transactions took longer than expected.
Here's how users rated Currensea on average so far this year.
Jan 24 | Feb 24 | Mar 24 | Apr 24 | May 24 | Jun 24 | Jul 24 | |
|---|---|---|---|---|---|---|---|
International Transfers | 5 | 0 | 0 | 0 | 0 | 0 | 0 |
Fees | 0 | 0 | 5 | 5 | 5 | 5 | 5 |
Exchange Rates | 0 | 0 | 0 | 0 | 0 | 5 | 5 |
Speed | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Limit | 0 | 3 | 0 | 1 | 4 | 0 | 0 |
Features | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Ease of Use | 0 | 0 | 0 | 0 | 0 | 5 | 5 |
Safety | 5 | 5 | 5 | 5 | 5 | 4 | 0 |
Customer Support | 5 | 3 | 5 | 4 | 4 | 4 | 0 |
*0s represent no reviews for the given month.
How to sign up for the Currensea app
Download the app
Navigate to the App Store or Google Store and search for the Currensea app.
Once you find it, download the app.
Add and confirm your details
Fill in the application form and add your details. These will include your name, email, and address.
In addition, you will need to submit one of the government-issued IDs such as a passport or driving license.
Choose a plan
Once your identity is confirmed, you'll need to pick an appropriate plan or simply continue with a free tier.
Add your bank
Once everything is ready, you will be prompted to link your bank account. Select your bank from the list and follow the on-screen instructions.
Convert and spend
That's it! You can now start converting and spending your money abroad.
Currensea alternatives
Currensea is great if you're looking for a travel card. It links well with your existing bank and lets you spend or send money abroad.
However, in comparison to similar cards and multi-currency accounts, it has higher fees but does offer more travel-related features.
If you want to travel abroad and spend money from your own bank without needing to open another account, Currensea might be a good option for you.
But, if you want to be able to hold multiple currencies, and spend and send money abroad, we'd suggest considering these alternatives.
Fees & Rates9.4Transfer Speed9.0Safety & Trust9.2Product Offering8.8Transfer Limits9.5Ease of Use10.0Customer Feedback8.5Overall
Fees & Rates9.8Transfer Speed9.0Safety & Trust9.0Product Offering8.0Transfer Limits9.0Ease of Use9.0Customer Feedback8.4Overall
Fees & Rates9.3Transfer Speed9.0Safety & Trust9.0Product Offering8.0Transfer Limits9.0Ease of Use9.0Customer Feedback8.7Overall
Fees & Rates9.1Transfer Speed8.0Safety & Trust9.0Product Offering9.0Transfer Limits8.0Ease of Use9.0Customer Feedback9.0Overall
Fees & Rates9.4Transfer Speed8.0Safety & Trust8.5Product Offering8.8Transfer Limits9.5Ease of Use8.2Customer Feedback8.3Overall
Currensea - More than just a travel card
Currensea is a good travel companion when going overseas.
You can use the card to save money and get perks such as free nights and lounge keys. Also, Currensea is regulated by the Financial Conduct Authority.
However, Currensea is only a way to use funds from a bank you already have an account at.
To send and receive money using bank transfers, you’ll need to use 3rd party alternatives such as Wise and XE.
They will save you even more money and offer very fast transfer speeds.
A bit more about Currensea
Can I use Currensea for international bank transfers?
Can I use a Currensea debit card when traveling abroad?
Help & FAQ
Get answers to the most common questions asked when sending money abroad. Covers costs, fees and the best way to compare.
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