How does ATM Withdrawals Work? Domestic and Foreign Fees Breakdown

[Marie]

ATM WITHDRAWALS

Please note that your underlying card issuer may charge you fees for making such transactions with your Curve card.

Domestic ATM withdrawals

Domestic ATM withdrawals (same currency as your Funding Source) are free, however, subjected to Curve Fair Use Policy.

ATM usage is free for up to 10 domestic (withdrawals in the same currency as your Funding Source) withdrawals per calendar month after which time you may be charged £0.5 (or currency equivalent) per usage for each additional ATM withdrawals.

20 of £10 domestic withdrawals during one calendar month → you may be charged £5 (10 * £0.5) in fees on the consecutive 10 withdrawals.

ATM withdrawals with Credit card as underlying card(s)
In addition to the above fees, Curve may charge you an additional 2% for withdrawals above £200 (or currency equivalent) per calendar month, when using a credit card as the underlying card. Please note that this not a limit per credit card, but a cumulative for all credit card withdrawals using your Curve card in a calendar month. This charge does not apply to ATM debit card withdrawals

£200 --> no fee

£250 --> may be charge a £1 fee (£50 * 0.02)

When withdrawing £10, 20 times (£200), during one calendar month using a credit card(s) as funding source → you may be charged £8.6 in fees, which is calculated by £5 (10 * £0.5) in fees on the consecutive 10 domestic withdrawals + £3.6 ( £180 * 0.02)

Foreign ATM withdrawals

Up to £200 per month (£400 for Black cardholders) - no currency conversion fees will be charged and the transaction will be made at the Standard Exchange Rate, if there are any withdrawals beyond this Curve may charge 2% of the transaction amount amount of the transaction or £2 (whichever is higher) over the Standard Exchange Rate as currency conversion fees.

£200 --> no fee

£250 --> £2 currency exchange fee (2£ > £50 * 0.02 = £1). You may be charged an additional £1 when using credit card(s) as funding source (£50 * 0.02)

£2500 → £46 currency exchange fee (£2300 * 0.02). You may be charged an additional £46 when using credit card(s) as funding source (£2300 * 0.02)

Weekends

In case of withdrawals or purchases over the weekend with an underlying card of a different currency of the spend, as the Forex markets are closed, we take the rate of Friday at 23:59 and apply a surcharge. If both the currency of your spend and the currency of the underlying card are GBP, USD or EUR, the rate will be increased by 0.5%. In any other case, that is If either the currency of your spend or the currency of the underlying card is any our other supported currencies, the rate will be increased by up to 1.5%

[Marie]

Continuing the discussion from What's the degree of charging for using ATMs? and ATM fair use policy for Curve Premium?

[Patrick_BB]

When withdrawing £10, 20 times (£2000), during one calendar month

Hello Marie ! This is my first topic here…What could i understand : 10 x 20 = 2000…?
Are you talking about 2000pounds or 200pounds? Thanx and regards.

[Marie]

Hello @Patrick_BB, happy to have you here!

Thanks for asking. This example is about withdrawing more than the Fair Use limit of 10 withdrawals per calendar month. If you make 20 withdrawals within the calendar month and taking out £10 each time (adding up to £2000 in total), you may be charged £5 in fees.

[ediflyer]

If you make 20 withdrawals within the calendar month and taking out £10 each time (adding up to £2000 in total), you may be charged £5 in fees.

But 20 withdrawals x £10 = £200, not £2000! Do you mean 20 x £100?

[Patrick_BB]

Yes Marie…But, 20 withdrawals of 10pounds = 200, not 2000…
Sorry, maybe i don’t understand the logic…

[Marie]

Yes, I do Thanks for the heads-up you two (cc @Patrick_BB)

[Patrick_BB]

Ok, OK…all is right now for Me! Don’t worry, it’s the beginning of the year…aha…

[tkrunning]

Excellent overview, Marie!

I’d like to confirm a few minor details:

1. By Foreign ATM withdrawals it is meant withdrawals in other currency than the underlying card is set to in the app, correct?
2. The way I read your post, there are no fees based on the number of “foreign” withdrawals in the same way as for “domestic”, i.e. the 50p fee from the 11th withdrawal. Meaning, in theory (not sure why someone would do this in practice), you could withdraw the equivalent of £10 x 40 abroad with a Black card, and not be charged the 50p fee for the last 30 withdrawals? Seems a bit strange to me, but that’s how I understood your post.
3. If so, do “foreign” ATM transactions not count towards the 10 free domestic ones (e.g. if you have 5 foreign, you still have 10 free domestic left)?

[Decio]

Do I pay any fees if I withdraw 800€ in a month splitting the amount on 4 withdrawals of 200€ during the month?

[Marie]

@tkrunning

Excellent overview, Marie!

Thank you

@tkrunning

1. By Foreign ATM withdrawals it is meant withdrawals in other currency than the underlying card is set to in the app, correct?

Correct, and domestic is when withdrawals are in the same currency as your Funding Source.

@tkrunning

2. The way I read your post, there are no fees based on the number of “foreign” withdrawals in the same way as for “domestic”, i.e. the 50p fee from the 11th withdrawal. Meaning, in theory (not sure why someone would do this in practice), you could withdraw the equivalent of £10 x 40 abroad with a Black card, and not be charged the 50p fee for the last 30 withdrawals? Seems a bit strange to me, but that’s how I understood your post.

I agree, it is a bit odd, however, that correct and you won’t be charged.

@Decio

Do I pay any fees if I withdraw 800€ in a month splitting the amount on 4 withdrawals of 200€ during the month?

If they are a domestic withdrawals (your funding card is in €) and the underlying card is a debit card , there’s no fee.

[megamaster]

Well, this exactly matches my original interpretation from reading curve’s fair use policy

[erasmuswill]

I’m wondering what counts as a credit card. Would a cheque card also count towards this limit?

[Marie]

All spend counts towards your limits. Could you elaborate on how you use a cheque card with Curve?

[Curveball]

Shame it is so complicated!

[ryancormack]

How does this work with Amex cards? Does that get added to the £200 of credit card allowance (even for Amex Charge Cards), in which case you def won’t be charged for it, since Amex have already charged you for the money and it’s now in your pot.

Thanks

[ediflyer]

But I thought the Amex pot was blocked from ATM withdrawals?

[Marie]

I’ll update the post with Amex when we launch the feature to the public @ryancormack

It is during the beta testing @ediflyer

[ediflyer]

It is during the beta testing @ediflyer

Ooh does that mean it might change in the future?

[Marie]

It might, but I don’t know how it will be addressed in the Terms and Fair Use Policy yet