Travel debit card Currensea hits 100k cardholders

The card, which doesn’t charge fees for overseas usage, is now used by someone globally every nine seconds

These milestones are the latest sign of Currensea’s strong growth, with monthly usage doubling from last year as travellers increasingly look to reduce foreign exchange (FX) fees.   

Since its launch in 2020, Currensea has saved travellers over £4 million in FX fees. It does this by cutting out the normal fees leveraged by banks and other providers when using your debit card abroad. Currensea is a travel debit card which connects to bank accounts, allowing travellers to spend directly from their existing current account when abroad.

Whilst some banks and providers have done away with FX fees, most still charge them. Currensea guarantees the best foreign exchange (FX) rates at only 0% to 0.5% above the FX base rate–which allows card users to save on every transaction abroad by removing the normal fees leveraged by banks and other card providers.

Alongside cutting costly foreign exchange fees for users, Currensea cardholders are making a positive environmental impact when they spend on their cards. When signing up for a Currensea card, customers are asked whether they’d like to plant trees or clean the oceans. Every 12p saved by using Currensea plants a tree, and every £1 saved removes 100 plastic bottles bound for the oceans. So far travellers have removed 8 million plastic bottles from the ocean through donations to environmental causes.

Currensea also recently announced that its card can now be used with Apple Pay, unlocking access to lower overseas foreign exchange fees for more customers.

James Lynn, co-founder of Currensea, said: “With rising costs at home, travellers are increasingly looking to cut FX fees and secure enhanced value. Currensea’s rapid growth and adoption demonstrates the consumer appetite for a simple solution that removes unnecessary fees.

“With UK travellers forking out an unnecessary £2.7bn in FX fees every year, it’s vital that they understand the true cost of spending overseas. Unfortunately, there is often a lack of transparency among many payment options with hidden costs and misleading rates that punish travellers. It’s just as important for travellers to secure value for money on their travel money as it is to get a good deal on flights and accommodation.”

Images: Currensea

Robert Welbourn Robert Welbourn is an experienced financial writer. He has worked for a number of high street banks and trading platforms. He's also a published author and freelance writer and editor.