Curve cash serious currency conversion error

The amounts have been corrected for my card and I have been advised to not use Curve cash where currency conversion is needed until the matter has been fixed.

This is a part of the support response:

Thanks for getting in touch and I’m sorry for the delay in getting back to you. We’re currently receiving a high volume of messages which means we’re unable to respond to you as quickly as we’d like.

We have had an error that has caused incorrect exchange rates when using Curve cash. This started around 10/10 and we are still working on correcting it.

I have refunded all of the incorrect payments and you will see the balance reflected on your Curve Cash card. Whilst we are working on getting this fixed we would advise not using the Curve Cash card for transactions that require an exchange.

I am not sure when currency conversion is used so I guess I will just not use Curve until it has been fixed.

my issue is more or less fixed: curve’s changed the currency of my limits tab. from today my limits are shown in HUF, not in GBP.

BUT

unfortunately curve set me much lower limits (in HUF) than i had before this problem (in GBP), so they still need to work on my ticket

I reported the same issue in different thread: Currency conversation does not apply to Curve card limits tab in the app

To avoid Curve’s currency conversion fees / errors, just make sure that you set the underlying card in the Curve app to the currency you are paying in.

Ie if you’re in Australia, go into your curve app, select the card you want to use and set its currency to AUD (and if asked what currency you want to pay in, say AUD).

That way Curve should pass the AUD amount through to your card and the currency conversion will happen there.

You may still get stung with refunds etc, you are likely better using the underlying card directly (look at that, my advice is the same as Curve’s!).

i’m almost sure that these currency problems are related to the new country-specific cards. before national BINs everybody had an “account currency profile” in GBP. because of the national card account currency profile also has to be changed to the national currency, otherwise similar problems will occur. in my case curve’s already changed the limits tab to HUF. i still have problems with GBIT, probably another adjustment is needed with this function as well

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I wish you could set currency for Curve cash to avoid currency conversion. Especially since refunds end up as Curve cash.

Just an idea: strat spending money in a currency wich is better than GBP (for expample KWD). does the “problem” still exists?

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I’m in Thailand at the moment and made a purchase on Lazada which i use often here - the purchase of 117 Thai Baht - approx £3.00 was charged to my rewards as £118.00 - that’s almost 30times the amount!

waiting for CS to respond.

The reason i have so many reward points in the first place is because Curve were not able to process a refund correctly - it should have gone back to the credit card but instead was added to my rewards balance.

Anyone else had an issue like this?

I’m extremely reluctant to use rewards again, though to be fair this is the first time I’ve had this issue.

Yes, this is a known bug when spending Curve Cash in foreign currencies. You will need to chase customer services unfortunately, it’s can be a long slog.

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known issue, this is what curve wrote about it to another user

We have had an error that has caused incorrect exchange rates when using Curve cash. This started around 10/10 and we are still working on correcting it.

I have refunded all of the incorrect payments and you will see the balance reflected on your Curve Cash card. Whilst we are working on getting this fixed we would advise not using the Curve Cash card for transactions that require an exchange.

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This (and the other case in this thread) is a very clear case of Curve making a serious error performing their core business function.

The fact Curve are aware of this issue and haven’t pushed a warning to all cardholders tells you exactly what they think of their customers. They don’t care if people are 30, or even 400 times out of pocket for a transaction.

A few chargebacks against them might help others get this resolved.

Give Curve 24 hours notice to rectify before you raise a dispute with your underlying card issuer. Please cite Curves official policy ‘Move fast, break things’ in any written complaints to your card issuer (see below).

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Jonathan. Yeah i had this as mentionad above. You say that a changing rate is 1:30 to gbp and thai baht. Just think what i have felt after buying in a grocery store. My currency and gbp have a changing rate of 1:404.

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i hear ya. I actually bought a set of plastic measuring scoops for the kitchen - should have been less the £3 but it actually came out as 118£ as opposed to 117 baht.

well let’s hope for all of us they can sort this out quickly.

@jonathan.waller and @janicold - any luck raising chargebacks?

I received my chargeback yes, thanks for questioning.

I am also curious if we will get notified when the issue has been fixed given that I have seen no public official statement that the issue exists.

I have started using Curve for my underlying cards again but I have not dared to use my Curve cash. It would be nice to be able to use it again next week for the iPhone mini release.

Glad you’re no longer out of pocket.

To be clear - chargeback meaning a refund from the underlying card company, or did Curve refund the money?

I had money on curve cash, this is a curve bank account. The changing rates appeared in a not correct mode, so just a simple correction was made.

Are there any news if this issue has been resolved?

my personal issue was resolved in a couple of days and the amount was refunded back.
however i don’t know if they’ve fixed the issue in general - so I’m just avoiding using curve cash on foreign currency transactions -

OK if the forex amount is higher than the sterling balance, it seems to work which i found as a work around… EG if y ou have £100 in curve cash and spend 100 Thai Baht - it seems to charge you £100 instead of £2.50.
However if you spend 110 Thai Baht, the system is forced to make the conversion at the exchange rate.

Strange little bug.