Comparison of Revolut vs Curve GBP/BRL rates

Three times while staying at a hotel in Rio de Janeiro last week, I asked the hotel reception to help me compare Revolut’s and Curve’s GBP/BRL rates, given that both use live FX rates. Each time, I paid the hotel simultaneously using two card terminals, with my Revolut card in one and my Curve card in the other. The amounts ranged from BRL 50 to BRL 2300. After entering my PIN, I pressed the green button at exactly the same time. Here are the results with rates rounded to 5 decimal places:

28/01/2019 21:46 GMT
Revolut: 4.94560
Curve: 4.95050
Difference: Curve better by 9.9 basis points (but the difference in GBP amounts was only £0.01 so not accurate)

31/01/2019 21:39 GMT
Revolut: 4.77813
Curve: 4.78051
Difference: Curve better by 5.0 basis points

01/02/2019 21:48 GMT
Revolut: 4.78231
Curve: 4.77730
Difference: Revolut better by 10.5 basis points

I conclude that both card issuers’ FX rates are equally competitive, but a test using GBP/BRL is not necessarily representative of all currency pairs.

My test also confirmed that Curve’s £500 monthly limit for fee-free FX is indeed per calendar month and not per rolling monthly period, given that two transactions spanned month-end.

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While I never did such an apples to apples comparison I usually check in Revolut what it would cost with them and then pay with curve. It has been always an exact match. A currency such as BRL of course allows for more comparison as you’re dealing with bigger numbers

I don’t have the revolut card, only N26 metal and Curve…all that confirms that we have done the good choice…

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Curve and Revlut don’t charge anything for currency withdrawals, but their spot feeds are probably from different vendors, possibly taken at different periods, and might be skewed a bit here or there, so depending on which way the currency was trending at the time, Curve might offer more or less than Revolut for a given transaction. In addition, even though you pressed the green button at exactly the same time, given Curve has to process the payment all the way through to the underlying card provider, this would almost certainly take longer and hence the spot price you will get might be delayed by a few seconds.

Revolut and Curve don’t merely use market data feeds. Unless they’re taking on market risk, which they clearly wouldn’t, they have liquidity providers with whom they trade for every transaction.

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FX transactions are rolling and not per calendar month, as the limits start from the moment your card gets dispatched. We can, however, have a look at your account and investigate this further. The best way to do this is for you to send a message to our Customer Support team in-app or via support@imaginecurve.com :slightly_smiling_face:

@Curve_Aleca, if Curve’s £500 FX volume limit was per rolling month rather than per calendar month, then I would except to see a difference of 200 basis points between 31st January and 1st February 2019. But the difference was only 10.5 basis points between Revolut and Curve.

At https://support.imaginecurve.com/hc/en-gb/articles/214124809-What-foreign-exchange-rates-will-I-pay- Curve states:

Curve (free) customers: Up to a spend of £500 per month - no currency conversion fees will be charged. From £501 and above (cumulative) a month, you will be charged an additional 2% as currency conversion fees.