I think that the currency pass-through have already been mentioned in this forum, and I figured out that it was not possible due to Curve’s restriction. I then figured out… Why not making currency pass-through when it is possible, and charge the underlying card in the defined currency when it’s not.
At first, I call “currency pass-through” the ability from Curve to charge my underlying card in the transaction currency, whatever my card’s currency is.
As an example, let’s say that I have a Monzo card in GBP, and I’m travelling in Europe. I pay in euros in Germany, and my Monzo card is automatically charged in euros. I then cross the czech-german border, and then pay in CZK on the other side, and my Monzo card is charged in CZK without any action from me, and without any conversion from Curve.
The limit here is where the transaction is un a currency that Curve doesn’t support (let’s say MXN). The Curve will need to convert the currency because it is unable to charge the underlying card in MXN, as long as this currency isn’t supported by Curve.
But why not making pass-through ONLY when it’s possible ?
Let’s say that, in the card currency menu, you can tick an option saying “prefer currency pass-through”, PLUS you select a currency for your card.
One more time, an example :
I am travelling in Asia. My underlying card in this example is in EUR. In China, I am paying with my curve card in CNY. CNY is supported by Curve, so Curve does charge my underlying card in CNY. I then head to Japan, and I pay in JPY. JPY is supported by Curve, so my underlying card is charged in JPY.
I then head to South Korea. KRW isn’t supported by Curve, so Curve converts the amount from KRW to EUR, and charges my underlying card in EUR.
This is even more interesting when we talk about multi-currency accounts. I am thinking about Revolut, Transferwise, or even Vivid for our german friends !
In fact, bank accounts that allows you to hold multiple currencies at once.
Let’s say that I’m french (lol I really am) and I usually travel to Canada. I have a Revolut account with balances in both CAD & EUR. With the pass-through solution, when I pay in Canada with my Curve Card, Curve does charge my Revolut account in CAD, and my CAD balance on Revolut is debited, without any conversion. When I head back to France, I can then spend in EUR and my EUR balance is debited, again without any conversion.
Currently, getting this work involve having an internet connection everywhere, which isn’t always the case while travelling. To continue with my example, if I don’t have internet in Canada, I cannot change my underlying card’s currency in Curve, and my Revolut EUR account will be debited for a CAD transaction, while my Revolut CAD balance will remain untouched.
I hope Curve team will look at my proposition. I am always ok for any precision about this topic. Thanks for reading and have a nice day !