I realized that when I tell my friends about my curve card and the possibility to save on fees while in Erasmus; that they don’t need to change bank account to save on fees; or that they can have various cards linked to curve, they just say something like “cool” or “It’s something like revolut” but rarely make questions or seem interested.
What’s missing? What’s the trigger for regular customers that mostly use one card and when there’s many options available to save on fees?
Do you mean Erasmus University Rotterdam?
No, just a regular Erasmus program in Europe
Ok. I was asking because for Dutch students or foreign students in the Netherlands I could have explained why they are not really interested.
That’s not my point. I was just asking about what are the features to convince our friends into Curve instead of other competitors
Why are they not interested? I think it could be the same problem for many people
In the Netherlands MasterCard acceptance is quite poor. Dutch people have a Maestro or V-Pay card as their standard payment card. If you are a foreign student in the Netherlands it is much more practical to open a Dutch bank account (with Maestro or V-Pay card) or, since these students would have a (temporarily) Dutch address, get a Maestro card with their Revolut account.
For foreign card usage by Dutch people there is since recently the free bunq Travelcard. It does offer MasterCard FX rates, so during weekdays Curve’s rates might be slightly better, but since the bunq Travelcard does have a Dutch BIN it can be linked to the Dutch Air Miles program (where the Curve card can not be linked) to score some Miles when spending abroad.
Interesting! That’s a big problem but it can be fixed in the near future, I hope . I also have a Maestro card that I would like to add to Curve, but meanwhile, I use my mastercard/visa cards.
In my situation, my friends just don’t feel the need to get the Curve card
Some additional insights - most people I’ve talked to were only interested about the market exchange rate. When mentioned about the ability to utilise multiple cards they seem puzzled because they do not have multiple cards to worry about. This way of thinking is quite the opposite for me, and suspect others as well. There must be a better way to identify the target users to grow because a ‘good exchange rate’ doesn’t differentiate the business enough.
Of note, I think people relate better on the benefits of Curve if they have multiple bank accounts (across multiple countries), travel a certain amount times and put through a certain amount of spend on cards - Curve certainly have the some information and it is sitting on a data mine to figure out average spend per transaction, the category of spend and so on.
For me it was the possibility to have only 1 card, the possibility to have a free card with revolut and the exchange rate because I was going to Poland.
I think that curve has the potential to simplify banking but for now, there are almost no added features since it launched. I’m not talking about adding insurances, etc…those are available with other companies. They are just now adding a feature to their technology, Curve send, and its going to be their first feature?!?
I would love to see them adding other features because now, I still need to have all the apps from my banks to transfer money, make saving pots, pay my bills, pay my credit card, exchange stocks, check balance, and so on…
So, if the main differentiation factor is only for people to have only 1 card, how much of the population does actually have this problem? I’m starting to understand why people don’t stick with Curve