Support for Multi-Currency Cards

How should curve support multi currency card?
What about go back in time to a single currency card?

1
Curve could save the exchange rate on the time then the payment are made
And use it if the payment are moved to a single currency card

2
Use the exchange rate that are available then use go back in time

3
Pass the payment without currency, and pay the bank for exchange

What do you think about this?

First time i hear that

Best of both world

In the menu where your select currency
There should be an option like (currency card) (Multi currency)
And in the curve app, you set your local currency

Then you pay with 1 card
Like your currency card
And if you device to, use go back in time
Curve save the exchange rate, of your local currency you set, then
And refund, and charge the exchange rate, that are saved

And the other way around
Refund the payment, and charge the original currency from your currency card

Even better, you could avoid weekend fee
If the local currency, exchange rate. Are being added on monday
That would mean you have to wait undtil monday to use go back in time

Hi, is it possible to disable currency exchange on my Revolut card? Revolut comes with less fees on currency exchange than Curve so it is better to let them do the exchange

Same what we are talking about here

I just registered to post in this thread:

I also want this feature. i have 2 credit cards with better exchange rate than curve and its so annoying to everytime change the currency of the card… it cant be that difficult to implement this.

please do it.

best regards from germany using advanzia credit cards…

1 Like

Hello, me too would love to have this feature of just passing through the original currency available!

1 Like

How will the spending and insight add up?

Not sure what you mean by that… Everything would work the same way as if you currently change the underlaying card’s currency manually before your payments to meet the currency of the merchant, except that you wouldn’t need to do it manually anymore.

Then spending in multi-currency
And use local currency

How does the insight tab work?
Or the amount of spending
Now curve no longer exchange the currency

How do they know how much i have spent?
How do they add it all up?

No difference, it would work like now.

2 Likes

How does curve know the exchange rate of my card?

Curve doesn’t need to know the rate of your underlying card. Curve would just approximate the exchange rate as it already does if you spend in multiple currencies. e.g. If your normal currency is GBP and you were to spend money as EUR on any underlying card, Curve Insight will approximate EUR transactions in GBP, even if your underlying card was charged in EUR and Curve does not know the rate of your card.

1 Like

1 Like

And you can change your Insights currency to whatever you want already, independently of your underlaying cards’ currencies.

1 Like

This suggestion would be great. I also have that problem from time to time.

For example with my Bunq or N26 card that already have an excellent exchange rate, I must be changing the currency in my application to not have a currency exchange.

But there are times when I forget to make the change and I end up paying double double currency exchange.

This is because I have my bunq card for example with the currency that I used previously (USD, CHF ETC) selected and I make a payment in euro.

As some said, there should be the option to be able to choose the multi currency option so that the original currency of the transaction is applied automatically.

1 Like

Hi everyone,

I think that the currency pass-through have already been mentioned in this forum, and I figured out that it was not possible due to Curve’s restriction. I then figured out… Why not making currency pass-through when it is possible, and charge the underlying card in the defined currency when it’s not.

At first, I call “currency pass-through” the ability from Curve to charge my underlying card in the transaction currency, whatever my card’s currency is.
As an example, let’s say that I have a Monzo card in GBP, and I’m travelling in Europe. I pay in euros in Germany, and my Monzo card is automatically charged in euros. I then cross the czech-german border, and then pay in CZK on the other side, and my Monzo card is charged in CZK without any action from me, and without any conversion from Curve.

The limit here is where the transaction is un a currency that Curve doesn’t support (let’s say MXN). The Curve will need to convert the currency because it is unable to charge the underlying card in MXN, as long as this currency isn’t supported by Curve.

But why not making pass-through ONLY when it’s possible ?

Let’s say that, in the card currency menu, you can tick an option saying “prefer currency pass-through”, PLUS you select a currency for your card.

One more time, an example :
I am travelling in Asia. My underlying card in this example is in EUR. In China, I am paying with my curve card in CNY. CNY is supported by Curve, so Curve does charge my underlying card in CNY. I then head to Japan, and I pay in JPY. JPY is supported by Curve, so my underlying card is charged in JPY.
I then head to South Korea. KRW isn’t supported by Curve, so Curve converts the amount from KRW to EUR, and charges my underlying card in EUR.

This is even more interesting when we talk about multi-currency accounts. I am thinking about Revolut, Transferwise, or even Vivid for our german friends !
In fact, bank accounts that allows you to hold multiple currencies at once.

Let’s say that I’m french (lol I really am) and I usually travel to Canada. I have a Revolut account with balances in both CAD & EUR. With the pass-through solution, when I pay in Canada with my Curve Card, Curve does charge my Revolut account in CAD, and my CAD balance on Revolut is debited, without any conversion. When I head back to France, I can then spend in EUR and my EUR balance is debited, again without any conversion.

Currently, getting this work involve having an internet connection everywhere, which isn’t always the case while travelling. To continue with my example, if I don’t have internet in Canada, I cannot change my underlying card’s currency in Curve, and my Revolut EUR account will be debited for a CAD transaction, while my Revolut CAD balance will remain untouched.

I hope Curve team will look at my proposition. I am always ok for any precision about this topic. Thanks for reading and have a nice day !

2 Likes

It will be highly complucated to explain that to a regular user, like my dad.

He is quite probably the exact opposite type of user. When he travels, he prefer that Curve does the currency conversion an charge his card in home currency. Thereby he avoids his regular credit card’s fees for currency conversions.

I can’t imagine that, during a trip to Canada, you won’t have time to manually change currency your Revolut card is charges in. After all, a trip to Canada does take a respectable amount of hours, surely you’d have five minutes during such a long trip to do the change.

That’s not an option for all users, of course, but only for the ones that needs it.

Changing the currency manually is ok, but involves a few problems :
It technically can be done automatically so it isn’t user-friendly.
When you don’t have an internet connection on departure or arrival, you cannot then change the currency (cf my example with Revolut EUR & CAD)

It would be cool as an additionnal feature for people who need it. Of course, I’m talking about muti-currency accounts and accounts that basically charges no fees for currency conversion. It’s obvious that this functionnality is useless if you have an underlying card that charges you 2% on every transaction in a foreign currency :slight_smile:

Probably I don’t fully understand your idea, because I don’t really see the point.

I mean, you compare to Revolut, but it is not that Revolut ‘changes’ your underlying card to the wanted currency, the thing is that your Revolut account is a multi-currency one, so it takes the money from the matching currency if available.

In the case of Curve, they don’t hold our money, just sent the payments to the underlying card, and I understand that you don’t want Curve to make the conversion from the payment currency to your underlying card currency, but let the original card issuer to do it … may I ask you why? One of the advantages of Curve, from my experience, is that most of the times the fx rates are better than my bank, so why would I want my bank making the conversion instead of Curve?

Again, probably I missed something that explains the advantages of your idea.