Seems like Curve has entered into the business with hidden fees and charges. I started noticing fees due to “FX rate exceeded” since recently. I don’t mind anyone putting whatever price they want on the goods and services they offer, but the way Curve does it is problematic in so many ways:
- There’s totally no proactive communication whatsoever that you have reached a limit or you are about to do so.
- There’s an elaborate “Card limits” screen in the app, which generously informs of many other limits, but this one is never mentioned.
- It is pretty hard to figure out which transactions have been impacted by a limit and which did not. You have to click transaction by transaction
- There’s absolutely no information what is the total amount of fees charged to the account.
I am pretty sure this information is buried somewhere in the fine print, so I have no doubt what Curve is doing is legal. But it is completely another question whether such trickeries are the way to monetize an otherwise great service or rather ruin it.
In the last few months, I’ve switched to Curve as my primary card and have recommended it to a lot of friends. Unfortunately, I’ve been wrong and I have been recommending a service that violates one of the most basic rules - if you charge money to your customers, make this information available front and center.
Edit: The fees I am talking about appear as “FX transaction limit exceeded” when clicking the (i) button from the transaction screen.