Travel debit card Currensea has now hit 100k cardholders. This is 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 and enhance value.
Since its launch in 2020, Currensea has saved travellers over £4m in FX fees. The Currensea card saves at least 85% on every overseas transaction by cutting out the normal fees leveraged by banks and other providers.
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Alongside cutting costly foreign exchange fees for users, Currensea cardholders are making a positive environmental impact when they spend on their cards, with travellers removing 8 million plastic bottles from the ocean through donations to environmental causes.
Currensea is now used globally every nine seconds
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.”
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.
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By GlobalDataCurrensea is a travel debit card which connects to bank accounts, allowing travellers to spend directly from their existing current account when abroad, rather than needing to switch bank accounts or risk leaving money on a pre-paid card. It guarantees the best foreign exchange (FX) rates at 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.
