The new debit card enables small businesses to make international transactions through their existing bank account without any bank charges.
In Brief:
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The Mastercard offers 16 interbank currencies, including the South African Rand and Thai Baht, which no other UK provider currently offers fee-free.
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Its low £5 a month fee is competitive with leading challenger banks.
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Founded in 2018 the London FinTech has amassed £5m in funding and attracted the former boss of Amazon UK and chief investment officer of Worldpay to its board.
What does this mean?
Currensea's target market - the over-34s - tends to be the least served by the challenger bank market even though they make 73 per cent of trips abroad. This new product could also help SMEs looking to bounce back from the COVID-19 economic fallout through increased international transactions.
