Personal Finance Tips

What exchange rate does Currensea use?

Emma-Jane Stogdon

18.12.24 (last updated)

Read time 2 minutes

Thinking of signing up with UK travel card provider Currensea? Before you do, one thing you’ll need to know about is what exchange rates it uses.

Read on to find out, as we have the lowdown on Currensea exchange rates right here in this handy guide. We’ll look at what rates you’ll get if you use the provider for overseas card payments and money transfers.

This includes any extra fees you need to know about, plus how it compares to Wise - a popular alternative for travel spending and money transfers.

So, let’s dive right in.

Learn more about the Wise card 💳

What currency exchange rate does Currensea use?

The exchange rate you’ll get with Currensea depends on two things:

What plan you have
What currency you’re spending in or sending.

If you have the free Essential plan with Currensea, there’s a FX fee of 0.5% on the mid-market exchange rate. For paid plans, it’s 0% - so there’s no mark-up.¹

If you’re on a paid Currensea plan (Premium or Elite), you’ll get the mid-market exchange rate on 16 major currency pairings. You can see which ones here. For all other currency pairings, the Mastercard exchange rate is used.²

For comparison, it’s useful to know that Wise uses the mid-market exchange rate all the time, for all supported currency pairings.

How much does Currensea charge per transaction?

Here’s a quick roundup of Currensea’s fees and charges for transactions, including those exchange rate markups:¹

Type	Currensea fee/FX rate
Spending on Currensea card	No fee
ATM withdrawals	Essential plan - 0.5% FX rate on up to £500/month, 2% above this Premium plan - Free up to £500/month, 1% above this Elite plan - Free up to £750/month, 1% above this.
Money transfers	0.5% per transfer
Currency conversion - FX rate fee	0% to 0.5% on the mid-market rate, depending on plan

Does Currensea have subscription fees?

Currensea has a free plan, but it also has a couple of upgraded plans which come with annual subscription fees. Here are your options:¹

Essential - £0 a year
Premium - £25 a year
Elite - £120 a year.

As well as offering increased limits, lower fees and better exchange rates, these paid plans also come with various travel perks, offering cashback and discounts on things like hotel bookings and car hire.

Get mid-market exchange rates 24/7 with Wise

If you don’t want to have to upgrade to a paid plan to get margin-free exchange rates, it could be worth checking out an alternative to Currensea.

Open a Wise account online and you’ll get amazing mid-market exchange rates on every single transaction with no subscription fees. Other benefits include:

Manage your money in 40+ currencies all in one place
Send money worldwide for low, transparent fees*
Receive money for free in a number of major currencies
Spend like a local in 150+ countries with the Wise card (including online shopping)
Move money on the go with the handy Wise app
Securely send large sums with a dedicated large transfer service
Earn returns on GBP, EUR and USD balances with Wise Interest - Capital at risk, growth not guaranteed

See more about how Wise and Currensea compare.

Capital at risk. Growth not guaranteed. Wise Assets UK Ltd is authorised and regulated by the Financial Conduct Authority with registration number 839689. When facilitating access to Wise investment products, Wise Payments Ltd acts as an Introducer Appointed Representative of Wise Assets UK Ltd. Please be aware that we do not offer investment advice, and you may be liable for taxes on any earnings. If you’re uncertain, we urge you to seek professional advice. To find out more about the Funds, visit our website.

After reading this, you should be all clued up about Currensea’s exchange rates, as well as what fees it charges for card payments, ATM withdrawals and money transfers.

You’ll now have all the info you need to work out if it’s the most cost-effective option for you, whether you’re looking for a travel card, money transfer service or a solution that does both.

Sources used:

1. Currensea - Currensea pricing
2. Currensea - Currensea's live exchange rates

Sources last checked on date: 10-Dec-2024

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.