Which is fine but I read a lot ombudsman and threatening based on assumptions that are not even confirmed and I can see other way more likely reasons for the issue at hand.
Demanding that Curve honours what is according to them a display issue is just ridiculous hence why unreasonable. You are not dealing with Barclays here.
Has it been confirmed by the people here what the actual fx midday rate on the particular days was? I don’t see this information here at all.
Perhaps start there before you complain. Very easy way to figure out if it’s a display issue or not. Also, lots of ATMs do add fees on top which are not immediately recognisable as add-on fees and it’s not Curve’s responsibility to figure out how every single bank and atm on the planet works when in 1000 cases of the time everything works as advertised.
You know what though @rikscha - we are dealing with a company exactly the same as Barclays, i.e a financial institution that is regulated (by the same authority in fact) to extremely high standards when it comes to deal with customer’s money.
The issue at hand here is that Curve’s app displayed one exchange rate and charged a higher one.
Imagine a situation at a restaurant where the bill came in £2 higher than the menu you ordered off? What if the manager came out and told you it was a “display issue” with their menu. You’d probably want them to honor the menu price, right?
Is it possible the rate in the UI is calculated backwards from the two currency amounts - might it look at the amount in GBP, knock off £2 and then divide by the foreign currency amount to calc the rate it shows. I might call this a display bug that always results in a fixed £2 error when multiplied up.
I am off to check some of my old transactions to see if I have this issue!
Yup, agree but it shouldn’t be up to us end-users to speculate!
Four decimal places would help but the amount difference would be minimal eg a few pence (unless of course the transaction is worth £xx,xxx.
In my temp Curve hiatus, using my Amex card for foreign currency transactions. While it carries a 2.99% fee, just like how all charges are clearly laid out (incl. rate with 4 decimal points):
Ok but that’s exactly what I meant though. What I was referring to was simply just the decimal points part of the exchange rate to GBP. Curve currently only displays two decimal points though negligible, would be good to have.
To your point, currencies like HUF will always have the whole numbers part displayed eg £1=410.8633HUF
Just being explicit in case any Curve UI people who let this stupidity slip through are reading this For their benefit - the inverse of that (ie - when converting the other way is) 0.0024339 - so 4 DP here would still only give you 2 SF…
We’ve identified the bug, and Alex is right. The app is currently assuming that there will be a £2 fee when using an ATM and the base currency is GBP. The FX rate displayed in the app is wrong, even though the FX rate actually used for the transaction was right.
Next steps are creating and deploying a fix. It will be a part of the sprint in the coming month.
It looks like Curve are telling the truth here - the FX rate for the day provided by Currency Layer (the people Curve use for FX rates) is 374.8779 - which comes to within a penny of what you were charged.
There can be no confusion about ATM fees - they would always be included in the HUF amount charged.
What will be very interesting will be if Curve choose to simultaneously remove the bug that assumes you are always saving 3% on a transaction when it calculates your saving - this is nonsense for many customers, as Curve’s fees can be higher than any card on the market depending on when and where you use your card. If they don’t fix this, then they’ve got no leg to stand on when people get upset (not that many do, there’s loads of customers out there who think there’s no FX fees as Curve don’t tell you about them, unlike every bank and credit card).
Curve have never let a consumer go to the Ombudsman - they have always managed to make any complainants happy before it’s gotten to that point of escalation.
Okay so what you’re saying here is rather than taking £2 fees where they aren’t applicable, you actively manipulate your exchange rates to hide fees from those paying them? As someone else pointed out, this makes your “you saved X” made up numbers even more misleading. There’s actually very little on the transaction summary screen that is true.
The app makes it nearly impossible to see when Curve is applying fees. How many users are unaware of these fees being applied? If they were, would they behave differently (ie make fewer, larger withdrawals to minimise fees)?
This is not a fair or transparent way to handle fees.