The wait list for Currensea, the UK’s first travel money card linked directly to your bank account, has now been opened ahead of its scheduled launch date in early 2020.
The new-to-market travel currency card is backed by a team of angel investors and is advised by Robin Terrell, former UK managing director at Amazon and Marc O’Brien former CEO of Visa UK.
Furthermore, it has been designed with the purpose of removing any travel money related worries by connecting to your bank account and acting as an extension of your current account, thus allowing you to spend directly from your bank account.
James Lynn, CEO, Currensea said: “We wanted to bring a simple, cost-effective and transparent card to market and following a research survey on over 11,000 participants we found that the demand was certainly there.
“46 % of UK adults don’t want to open a new bank account with better foreign currency rates due to the hassle and don’t necessarily trust new challenger banks. Currensea certainly meets these needs and is integrated with most UK high street bank accounts providing customers with an easy, hassle-free option.
“We are excited to open our waitlist with hundreds signing up in just a couple of weeks. We believe that everyone has the right to access their money abroad at a fair rate and without charges.”
Furthermore, the introduction of Currensea to the market will offer consumers an added choice of services connected to their bank thus embracing the regulatory change brought on by the introduction of Open Banking regulations by the UK government.
Moreover, as well as having a biodegradable design, Currensea is authorised by the Financial Conduct Authority and is secured by the latest encryption technology and bank security.
Lynn concluded: “From conception, Currensea has been leveraging Open Banking to provide consumers with a more transparent solution for travel currency. With the Opening Banking regulatory changes coming into place, we were excited to be able to work with banks to design a product specifically with the new regulations in mind. Lloyds were one of the first banks to work with us and the other high street banks quickly followed suit.”