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Currensea Review - International Transfer Exchange Rates, Fees, and Limits

Currensea is a travel card linked to your bank account and designed to save you money while traveling abroad.

In this review, we'll explore Currensea's fees, costs, offerings, and how it stacks up against other services

Keith Hodges
Author 
Keith Hodges
Artiom Pucinskij
Editor 
Artiom Pucinskij
4 minutes
July 31st, 2024
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Expert Rating
3/10

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.

RATING BREAKDOWN

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.

Pros
  • 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.
Cons
  • 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.

Average online reviews for Currensea international transfers. 0s represent no reviews for the given period.
Average online reviews for Currensea international transfers. 0s represent no reviews for the given period.
COST

Currensea fees and exchange rates

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.

Average online reviews for Currensea rates. 0s represent no reviews for the given period.
Average online reviews for Currensea rates. 0s represent no reviews for the given period.

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.

How Do Currensea Bank Transfer Fees Compare to Using a Money Transfer Provider?

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.

Average online reviews for Currensea fees. 0s represent no reviews for the given period.
Average online reviews for Currensea fees. 0s represent no reviews for the given period.
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.

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.

Average online reviews for Currensea transfer limits. 0s represent no reviews for the given period.
Average online reviews for Currensea transfer limits. 0s represent no reviews for the given period.
PRODUCT

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.

Average online reviews for Currensea transfer features. 0s represent no reviews for the given period.
Average online reviews for Currensea transfer features. 0s represent no reviews for the given period.
USABILITY

Ease of use

Here's how users rate Currensea's usability.

Average online reviews for Currensea usability. 0s represent no reviews for the given period.
Average online reviews for Currensea usability. 0s represent no reviews for the given period.

And, here's how users rated the support features of Currensea.

Average online reviews for Currensea support. 0s represent no reviews for the given period.
Average online reviews for Currensea support. 0s represent no reviews for the given period.
SAFETY

Safety and trust

Here's how users rate Currensea's safety features.

Average online reviews for Currensea safety. 0s represent no reviews for the given period.
Average online reviews for Currensea safety. 0s represent no reviews for the given period.
REVIEWS

Customer feedback

ANALYSIS OF USER REVIEWS

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.

SIGN UP

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.

ALTERNATIVES

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.

  • Wise
    Fees & Rates
    9.4
    Transfer Speed
    9.0
    Safety & Trust
    9.5
    Product Offering
    8.8
    Transfer Limits
    9.5
    Ease of Use
    10.0
    Customer Feedback
    8.5
    9.2
    Overall
  • Currencies Direct
    Fees & Rates
    9.8
    Transfer Speed
    9.0
    Safety & Trust
    9.0
    Product Offering
    8.0
    Transfer Limits
    9.0
    Ease of Use
    9.0
    Customer Feedback
    8.4
    8.9
    Overall
  • TorFx
    Fees & Rates
    9.3
    Transfer Speed
    9.0
    Safety & Trust
    9.0
    Product Offering
    8.0
    Transfer Limits
    9.0
    Ease of Use
    9.0
    Customer Feedback
    8.7
    8.9
    Overall
  • WorldRemit
    Fees & Rates
    9.1
    Transfer Speed
    8.0
    Safety & Trust
    9.0
    Product Offering
    9.0
    Transfer Limits
    8.0
    Ease of Use
    9.0
    Customer Feedback
    9.0
    8.7
    Overall
  • OFX
    Fees & Rates
    9.4
    Transfer Speed
    8.0
    Safety & Trust
    8.5
    Product Offering
    8.8
    Transfer Limits
    9.5
    Ease of Use
    8.2
    Customer Feedback
    8.3
    8.7
    Overall
SUMMARY

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.

Compare your transfer options
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FAQs

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.

FAQs

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Currensea user feedback

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Contributors

Keith Hodges
Keith is an experienced Content Specialist with a rich background in both marketing and journalism within the financial sector. At MoneyTransfers.com, Keith plays a pivotal role in driving the business forward and broadening its reach in various international money transfer markets. His expertise is a key factor in the company's expansion and success.
Artiom Pucinskij
Artiom Pucinskij is a seasoned financial content strategist who holds an impressive background in marketing from the University of Portsmouth. With years of dedicated experience in the personal finance and remittance sectors, Artiom has become an integral part of MoneyTransfers.com's growth.