If you’re here, chances are you’re looking for a better way to spend abroad—one that doesn’t hit you with hidden fees or poor exchange rates. FairFX is a well-known travel card option, but how does it really stack up? And is there a better alternative?
Let’s dive into the details.
What is FairFX?
FairFX is a UK-based financial services company that was founded in 2007. It offers currency exchange and international payment solutions.
FairFX features & plans
FairFX offers a multi currency prepaid card, international payments and travel cash. For the purposes of this comparison, we’ll be focusing on the multi-currency prepaid card.
FairFX exchange rates & fees
We don’t believe fees should ever be hidden - so we’ve done the calculations for you.
If you top-up your FairFX card straight into foreign currency, the spread is 2.25%. So while FairFX state that it's "Free in one of the 20 supported currencies", you've already paid a 2.25% fee to achieve this "free" spend.
If you top-up in GBP, then spend in a foreign currency (including the "free" 20), then the exchange rate isn't quoted anywhere, but typically works out again as a 2.25% spread.
In summary, FairFX charges a 2.25% fee for spending.
ATM withdrawal fees:
FairFX charges an additional fee over any FX charges of £1 per ATM withdrawal.
Delivery fees:
Their first replacement card is free of charge but any further cards will cost you £6. It's worth noting that your FairFX card expires after 3 years, with a £2 per month charge for any funds left on it.
Is FairFX good for travel?
FairFX might seem like a convenient option for travel, but once you look at the fees, it quickly becomes clear that it's far from the best choice.
FairFX applies a 2.25% markup on every foreign currency top-up, meaning you’re already paying extra before you’ve even started spending. And if you load your card in GBP and spend in a different currency, the hidden markup still applies—FairFX simply doesn’t make this clear upfront.
Then there’s the £1 fee per ATM withdrawal, which can quickly add up if you’re withdrawing cash frequently on your trip. And if you don’t spend everything on your card? You’ll need to withdraw or transfer the remaining balance before your card expires in three years, or you’ll be hit with a £2 per month inactivity fee.
While FairFX might offer better rates than high street banks, the hidden fees, cash withdrawal charges, and the hassle of managing a prepaid card make it far from the best option. If you prefer a simple, hassle-free way to spend abroad without excessive fees, there are far better alternatives.
So, what is Currensea?
Currensea is a travel debit card that connects directly to your existing bank account.
Currensea allows you to spend abroad just as you would at home—without needing to transfer or manage funds separately. You simply spend, and the money comes directly from your bank account.
Currensea’s pricing plans
Currensea offers three travel card options:
- Currensea Essential (free)
- Currensea Pro & Currensea Elite (paid plans with market-leading FX rates and exclusive perks)
For this comparison, we’ll focus on Currensea Essential, which is free, just like the FairFX multi-currency debit card.
Currensea vs. FairFX – What’s Different?
Unlike FairFX, Currensea doesn’t require you to manage a separate account or worry about topping up your card.
What Currensea offers is a card that partners directly with your trusted bank account. Funds come straight out of your bank account, and you can spend whatever balance you have.
Because it’s not a prepaid card, you never have to top up your Currensea card. You don’t have to worry about losing it and any funds that might remain on it, nor do you have to constantly top it up and remember how much you have on it: we offer travel, but without the hassle.
We also check how much your bank would have charged you to use your regular debit card abroad- and we can tell you exactly how much money you saved by using your Currensea card.
Currensea Fees & Limits
Card spend:
- Essential: £500/month fee-free at the Realtime Rate, then 1% FX fee
- Pro & Elite: Unlimited fee-free spending at the Pro Rate
ATM withdrawals:
- Essential: £200/month fee-free, then 2% FX fee
- Pro & Elite: Higher limits with only 1% FX fee beyond them
Delivery:
Currensea charges just £4.95 for the delivery of essential cards. Currensea Pro and Elite customers receive free delivery when they sign up.
How does Currensea stack up against FairFX?
We compared how much it would cost spending with Currensea versus FairFX on a week-long holiday to Spain for a family of four. Take a look at the table to see the breakdown of spend.
| |
Currensea charges |
FairFX charges |
| €4375 on card spending |
£50.44 |
£83.17 |
| €400 on 3 ATM withdrawals |
£4.45 |
£10.60 |
| TOTAL |
£54.89 |
£93.77
|
Total saved with Currensea vs using FairFX: £38.88
% saved with Currensea vs using FairFX: 41.46%
So, which one is better?
When comparing FairFX and Currensea, the numbers speak for themselves. FairFX’s 2.25% markup means you’re paying significantly more for foreign transactions than you would with Currensea’s Realtime Rate. In fact, using Currensea instead of FairFX could save you over 40% on FX fees alone.
Beyond the cost savings, FairFX also requires you to manually top up your card, track your balance, and withdraw leftover funds to avoid inactivity charges. Currensea, on the other hand, connects directly to your existing bank account—so there’s no need to pre-load money or worry about running out of balance while abroad.
With Currensea, you also get complete transparency on what you’re spending and saving, plus the flexibility to set spending limits for added security—all without the hidden fees FairFX tacks on.
If you want great FX rates, zero top-ups, and the easiest way to spend abroad, Currensea is the obvious choice.
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