Travel debit card Currensea saved travellers over £2.5m during 2024 by cutting foreign exchange (FX) fees and eliminating hidden bank charges.
Currensea’s money-saving card enables travellers to spend abroad directly from their existing bank account but without the foreign exchange charges normally applied by banks and without the hassle of opening a new bank account or topping up other cards.
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In September 2024, Currensea launched the first hotel debit card, in partnership with Hilton. The card enables loyalty programme members to spend directly from their current account in the UK or when abroad, while earning Hilton Honors Points to redeem on hotel stays or exclusive experiences and removing the FX fees typically charged by banks and other card providers.
2024 was a year of strong growth for Currensea as it attracted over 35,000 new cardholders during the summer peak with the card used every three seconds as an increasing number of holidaymakers opt for Currensea’s simple solution over exchanging cash, topping up secondary bank accounts or using pre-paid cards.
Currensea cards remove bank fees from overseas transactions so cardholders can benefit from much lower rates than those offered by high-street banks
In addition to making savings on their holiday spending, Currensea cardholders continue to make a positive environmental impact when they spend on their cards, users have now removed over 13 million plastic bottles from the ocean through donations to environmental causes.
James Lynn, Co-Founder of Currensea, said: “Currensea’s strong growth trajectory demonstrates the appetite for a simple solution to spending abroad that offers unrivalled convenience and value.
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By GlobalData“2024 was a landmark year with our world-first co-brand launch in partnership with Hilton and the funds unlocked via the hugely successful Seedrs crowdfund will enable us to dedicate more resources to bringing more innovative co-brand partnerships to market in 2025.
“However, our core mission of delivering enhanced value to cardholders won’t change – with UK travellers forking out an unnecessary £2.7bn in FX fees every year, it’s vital that they have access to simple and transparent spending solutions that cut fees and make holiday savings stretch further.”
