New exchange fintech Currensea goes live in the UK
A new debit card that enables users to spend from their bank account abroad and save on exchange rates has launched its beta testing phase, reports Jane Connolly.
Currensea doesn’t require customers to open a new account or top up a prepaid card. The company claims users can save up to 90% on exchange rates compared to high street banks, by using either Mastercard or interbank rates.
With no charges for transactions abroad or ATM withdrawals, Currensea offers a free plan with an exchange rate of 0.95% above wholesale. According to the website, the company will soon be launching a premium plan at £35 per year that will offer a rate of 0.35% above wholesale.
Currensea is authorised by the Financial Conduct Authority and says it uses bank-grade security technology. Interested customers can join the waiting list via the company’s website.
