Curve Cash currency risk

Hello Curve Community,

I had two refunds credited to my Curve Cash Card a while ago and I live in a Eurozone country. However, the refunds were credited in GBP rather than the original currency of EUR. Recently, the value of GBP has decreased relative to EUR, which means that these refunds are now worth less than they were when I received them.

I’m wondering if this is normal practice and, if so, how is it acceptable?

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Hey Milten, :wave:

Unfortunately we can’t check your account on the forum as we’re Curve users just like you!

It’s best to get in touch with the support team through your app or through Twitter DM (@AskCurve) so they can take a look!

Alternatively, you can use the form on the support website to redirect your query to the correct team:

Curve Help Centre

Please do let us know how you’re getting on! :slight_smile:

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Good morning! This is not common, but usually happens when the merchant receives (returns) an amount of money but not against the original transaction. So when Curve receives an income, it has no transaction to reverse it against, and so the balance remains as Curve Cash.

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Hello @Milten,

Let me give you an example of what happens when you make a transfer from PayPal.

As Curve is not a bank, we do not advise anyone to transfer or withdraw money from PayPal, Trading212, etc. However, if you do, there are possible outcome:

  1. The withdrawal or transfer will likely be seen as a refund. If this happens, our system will try to match it to an already made transaction. But there is usually no matching transaction and then the amount is processed for Curve Cash.

P.S. Note well the first point and the part in bold.

Thank you for your responses. My question wasn’t about what Curve Cash is or how it works. To clarify, I live in a Eurozone country and since Curve Cash is only available in GBP, I’m subject to currency risk. Additionally, there doesn’t seem to be an official and quick way to convert Curve Cash to EUR. Is there a way to do this efficiently? I’m just trying to understand the options available.

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Try top-up your Revolut account :stuck_out_tongue:

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If i do that i will lose around 5€ because as I said in the first post, the GBP lost value against the EUR since the refunds happened. I know 5€ is not a lot, but it still bothers me how Curve handles refunds to Curve Cash.

Buy something in *.uk (online) using GBP :slight_smile:

Hey Milten, related to what you originally asked (why is is happening):
So, when you receive a cashback or refund in cash, the actual sum gets converted to GBP at MasterCard rate (I guess since the actual sum did not exactly match). Or some crypto or your choosing if you have a higher tier and select receiving cashback/refund/reward in crypto.
This sum in GBP is stored in the Curve Cash portion of the app.

Now, you can use this sum to pay off some transactions and again it will make an exchange if not paying in GBP.
This seems to be the normal practice, a pretty poor one for Eurozone customers I agree.

I contacted support about this issue. As mentioned by @Mattia, I was able to resolve the issue by transferring the funds from Curve Cash to my Revolut account. However, I hope there is a more streamlined solution to this problem in the future.

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Curious as to whether your Curve Card is Euro or Sterling based. I live in the Eurozone but my Curvecard is sterling based. If yours is Euro based I would have expected Curvecash to be credited in the same currency.

My Curve Card is EUR. Curve Cash is GBP. And i live in Eurozone country.