Currensea is authorized and regulated by the UK’s Financial Conduct Authority (FCA). This means that the platform must comply with a range of consumer protections that are in place to keep your money safe.
If you misplace your Currensea card, you can log in to your account portal and freeze it. On the off chance that the card turns up, you can then unfreeze it and continue to use the card as normal. If not, you can simply order a new one.
Moreover, even though you will be required to link your bank account via Currensea, the platform will never have access to your account, or any transactions that you make without the Currensea card.
Like the sound of what Currensea offers? As long as you are based in the UK, and your bank account is listed in the section above, you should be good to go. Simply follow the step-by-step guidelines we have listed below to get your Currensea account opened today!
Step 1: Apply Online
You will first need to head over to the Currensea website and click on ‘GET MY CARD’.
Step 2: Enter Your Personal Details
You will then need to provide Currensea with some personal information. Make sure you enter the information correctly, as you might need to verify this at a later stage
This will include your:
Currensea notes that in the vast majority of cases, it will be able to verify your identity electronically – meaning that you won’t need to upload any ID documents. However, if it is unable to do this – may be because you are not on the electoral roll or you are new to the UK, you might need to supply a copy of your passport or driver’s license.
Step 3: Link Your UK Bank Account
You will be asked to link your UK current account with Currensea. The specific linking process will vary depending on the financial institution that you bank with. However, you normally get the option of doing the link-up via online banking or through your mobile banking app.
Nevertheless, when you click on the ‘GO TO MY BANK’ button, you will be redirected to your banking login page. Upon entering your credentials, you will be automatically directed back to the Currensea website.
Step 4: Wait for Your Card and then Activate it
Once you have linked your bank account, Currensea will then post your debit card to your home address. The card should arrive within 1-3 working days. Once it does, you will then need to activate it.
All you need to do is log in to your Currensea dashboard, and follow the steps outlined.
In summary, you should never attempt to use an everyday debit card issued by your high street bank when traveling abroad. Not only will you pay an exchange rate that is often 2-3% above the wholesale rate, but you will likely pay a flat fee every time you use the card.
Although there are heaps of specialist travel prepaid cards in the UK market, most are somewhat cumbersome to use. This is because you need to keep topping up the card, and deposits often take hours – if not days, before they are credited. Moreover, it’s a nightmare trying to get your cash back off of the card if you underspend.
As such, Currensea solves these issues by allowing you to link your card with your current account. Once you do, it’s like you are using your everyday bank account on holiday, albeit, you’ll benefit from super-low fees.
This includes an exchange rate that is just 0.5% above the wholesale rate, and ATM withdrawals that are fee-free.
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