Consumers are right to be concerned about the safety of their banking and financial services products. That’s why we’re so proud of our Currensea travel card and the security credentials offered through Open Banking.
Here are the main points you need to know:
Open Banking sets the standard for security
The Financial Conduct Authority (FCA) regulates all companies registered with Open Banking.
You can find our entry in the Open Banking directory among some of the most trusted high street banks.
Under Open Banking and the FCA, we are governed by strict rules about how we operate and keep your data secure. We use Open Banking technology with bank-level security. As a result, we’re as secure as the high street banks.
In case you missed it, the Daily Mail mentioned Currensea, discussing protections offered by our travel card.
You control access to your information
Under Open Banking, customers have safe access to apps and a better choice of services. Only you can choose which regulated apps and websites you want to use – keeping you in charge.
When you sign up to Currensea, you enable a limited and specific connection with your chosen bank account. This happens in accordance with Open Banking rules. We use it to check that you have enough funds, set suitable limits, and personalise your account for you.
Your password and login details are private
Through Open Banking, you will never be asked to share your password or login details with anyone other than your bank or building society. We never see your login details and we aren’t able to log in to your bank account.
You can cancel access to your data at any time
Should you choose to, you can withdraw your consent from us at any given time. Equally, you can contact your bank or building society to let them know you no longer want your Currensea card connected to your account.
We can’t make a payment from your account without your authorisation
You need to approve any payment made from your account. Currensea can only make payments from your account based on spend with the card, using a direct debit which you set up with your usual bank.
Currensea offers protection on payments and purchases
In the unlikely event that your Currensea card is compromised, you can rest assured that your bank account will remain safe. We have set appropriate spend limits on your card. However, you can also choose personalised limits or freeze the card whenever you want. So your card has limited access to your account, based on the controls you set.
Currensea offers Mastercard chargeback protection. You may be eligible to make a claim if:
- The company you purchase from goes into administration and you don’t receive your product or service.
- Items you buy are not as described or are defective.
- You don’t receive goods you have paid for, and the company refuses to refund you.
- Payment is effected by a technical issue such as expired authorisation, or a processing error by the bank.
- You’ve been charged multiple times or billed the incorrect amount.
Keep your account safe and secure
You can help improve security by following these rules:
- Don’t share your bank login details or passwords.
- Check your accounts – if you see something that doesn’t look right, contact your bank or building society right away.
- Contact the retailer first to follow up if you have an issue with a product you bought – maybe it hasn’t arrived or you received the wrong item.
- If you think you’ve been the victim of identity theft, report this to your bank and Action Fraud.
- Have you’ve agreed to a financial services product that isn’t suitable for you? contact the product provider to cancel the arrangement.
- If you have a complaint, contact the company, bank, or building society directly. You can contact the Financial Ombudsman Service if you need a better solution.
Currensea is a safe and secure way to spend abroad. By getting a Currensea travel card, you rely on the robust systems and procedures specified by Open Banking and the FCA.