Curve FX Community Feedback

1. Do you use Curve abroad or not?
Yes I do.

1A. If you do, how does your set up change, if at all?
I change the currency on the underlying card to match the current countrys currency to let them handle the FX conversion.

1B. If not Curve, what else do you use abroad?
One of my other cards that uses Visa or Mastercards exchange rate.

3. Lastly, within Curve’s current FX offering, if you could change just 1 thing about it, what would that be?
Just let me pass the currency conversion down to underlying Card and let them handle it, since Curves service isn’t that good of a deal with the current FX fee on weekend.

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I just returned from a trip and was surprised to see the FX rate is quite poor. I had understood the Fx rate was favourable compared to competitors. However, where my wife has paid using her Santander current account she has always achieved a more favourable rate.

The best example is we both made a purchase for 300AED. Her bank converted it to £60. Curve converted it to £62. Across 2 weeks that adds up.

I likely won’t be using curve abroad again

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@hind seems like you’re very thorough with your research!

It sounds like you have a multitude of cards that you’re using instead. I’d love to understand more about what you meant in your first message when you said that Curve adds complexity? The goal of Curve would be to remove the complexity of having many cards to carry and manage so its a shame that we are falling short on this for you and it would be helpful to understand this further.

Glad you’ve had a positive experience with your Curve card being widely accepted when travelling. Hopefully it also gave you some sense of reassurance with the additional protection of your underlying card details too!

  1. I don’t use Curve at weekends, obviously because I’m not willing to pay the FX rate.

  2. I use N26 and other debit local bank cards that don’t apply FX rates.

  3. Delete FX rates, or just update the currency convertion change ammouts on Monday for example, the real change convertion quantity. That’s what my local bank does. And I think it’s the correct way to solve this problem.

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I meant that I have to be at least slightly aware of the listed limits that are far from straightforward.
The risk of running into surprise fees is high and your advertising statements in that regard are simply not truthful/misleading/dishonest.

I really don’t like dishonesty and in-transparency.
If you review what I and others have stated, I absolutely don’t understand how you can state the following:

Travel freely
Spend on adventure, not fees.

Pay with any card abroad without getting stung by fees. Yes, that includes your credit cards. Curve acts as a shield against FX fees, ATM withdrawal charges, and bad exchange rates. Because we believe your money should stay yours.

no limits on how much you can use the Curve exchange rate

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Another test yesterday :currency_exchange::

  • Revolut - 24,5624 CZK for 1 EUR
  • ZEN.com - 24,5194
  • Curve - 24,3473

So Curve’s FX is almost 0,9 % worse then other’s. :-1::dizzy_face: This is something to consider for future payments… :thinking:

Show the live fx rates used by curve in app before you do a purchase

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Thanks for providing yet further details. I will pass your feedback onto the relevant teams

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Yes, I use it always. It’s essential to me. I’m in Ireland and at weekends I go to Northern Ireland. Even paying the weekend charge it is better than using my bank debit card.

It seems funny that people don’t use curve but then use their fee free MC which is the same rate as Curve.

To me the single biggest thing is the weekend fee. Mastercard take the hit so there is no need for a weekend fee and certainly not 1.5%. That fee was for using the interbank rate and adding on incase the currency plunged and you got stung. This is not the case now.

I do think you should pass on to your team that the weekend fee should be scrapped. People simply withdraw during the week or use another card.

You can check the rate on MC website here Mastercard Currency Converter | Currency Exchange Rate Calculator

Any way this could be displayed in the app and updated daily with MC rate or even a button with the link on so you can check before buying?

People need to realise that unless a company uses a different rate or the interbank rate then the MC or Visa rate is what they’ll use. It seems that curve has caused confusion because people think it’s your rate and it isn’t, it’s the Mastercard rate as used by 90% or cards

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  1. Yes I do, but it depends on the situation. Mostly I take all cards from different banks with me. For simplicity I use mostly my curve card. On weekends I change the currency into the same of the visiting country to lower the fees (weekend charge).

  2. When I travel with friends, I pay food, gas and more with curve. The reason is that I’d like to split my transactions later, and I save my receipts in the app.
    When I have higher expenses, I pay with my bank’s card because they don’t charge me extra on weekends and without limits. + Unlimited foreign cash withdrawals.

  3. Get rid of weekend charges

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Hi Petr, credit cards Hello Bank and UCB Miles and More have the same FX rates (Mastercard) as Curve has. The rest is terrible, I agree.

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  1. Yes, sometimes.
    1A. I use it when I want to use a particular credit card that charges hefty commission abroad.
    1B. Starling, Wise and Nationwide credit card, all of which don’t have weekend fees and use the mid-market rate (or something so close to it it’s practically the same) which I can easily check.

  2. Because there are no weekend surcharges, they present spending and - especially! - refunds in a user-friendly way and I can check the rate beforehand.

  3. Add the ability to present the exchange rate visibly, easily and before making any purchases.

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Simply put I would like to get interbank exchange rates without a weekend fee just like Revolut does it all. :slight_smile:

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Revolut have a weekend fee no bank will give you interbank rates over the weekend as if the rate goes down they would lose money. In fact it’s a 1% fee on weekends more than curve for US dollars and Euros.

The issue here is Curve use the MC rate so therefore there is no hit from changing currencies.

You can wish but it’s unrealistic especially as Revolut already have a weekend fee.

Zen.com doesn’t add any weekend fee.

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I was responding to Revolut giving interbank rates all the time which of course they do not.

I tried zen and it looks like it’s a subscription based service costing €10 a month unless that’s the business account. So their might be no fee but your paying it in the monthly fee. It’s less clear than curve tbh. Maybe a link to their free account could help. :grinning:

Curve are more likely to get rid of the weekend fee if they use the MC rate. I cannot see them offering interbank and certainly not on the weekend. But everyone entitled to their opinion.

It costs €1 a month if €5 000 / month currency exchange is enough.