Curve Feedback


(Andy) #848

Mine is blank where your says commercial?


(Andy) #849

A little confusing. I understand ATM transactions will be recognised as cash withdrawals, is that the same for using your credit card to top your current account online do we think? If within the fair use policy.


(Jamie 🏳️‍🌈) #850

I’d say the system will come to recognise that as a cash transaction, yes.


#851

The ‘0%’ has been revealed to be 0% FX fees, interbank like Revolut with a weekend hike.

Limited to £500 per month on the blue card, £15k per year on the black.


#852

To add to that:

If you have the free Curve Blue card:

You can spend £500 per month in foreign currency at 0% FX, after which a 2% fee applies

You can withdraw £200 per month from an ATM in foreign currency at 0% FX, after which a charge of 2% or £2, whichever is higher, applies

Like Revolut, there is a weekend surcharge of 0.5% for £, $ and € (1.5% for other currencies) to reflect the currency risk taken by guaranteeing the closing Friday rate

If you have the £50 annual fee Curve Black card:

You can spend £15,000 per year in foreign currency at 0% FX, after which a 2% fee applies

You can withdraw £400 per month from an ATM in foreign currency at 0% FX, after which a charge of 2% or £2, whichever is higher, applies

Like Revolut, there is a weekend surcharge of 0.5% for £, $ and € (1.5% for other currencies) to reflect the currency risk taken by guaranteeing the closing Friday rate


#853

unless they have changed the rules for new accounts the Black card is a one off £50 charge, not an annual fee!


#854

I wonder if it will become so though, as anyone going abroad is likely to just upgrade if they feel they will need more than £500 FX.


(Jamie 🏳️‍🌈) #855

I have a Black card, with no information on a forthcoming change to an annual fee.

About to convert from the original pre–pay mode to a ‘new’ debit card as I recently dropped my card down a lift shaft.

Edit: Will get binned ASAP if they impose an annual fee. Clarification below.


(Jamie 🏳️‍🌈) #856

Where did you get this wording from, specifically the “annual fee” bit? The Ts&Cs just refer to a £50 cost to “buy” a card, implying a one–off fee, and the Q&A on the blog makes no mention of a change to the fee structure.


(Noel Edmonds Beard Sculptor ) #857

Just had this via E-Mail:

We’ve made some changes to our Terms of Service to reflect the introduction of fee-free spending abroad. The purpose of this email is to tell you what the main changes are and how they affect you. You can find the full updated Terms of Service here and in your Curve app.

What has changed?

Until today, Curve charged a 1% foreign transaction fee for spending abroad. Since 20th September 2018 at 9am GMT, Curve no longer charges foreign transaction fees on spend and ATM withdrawals abroad, subject to our terms of service.

You can now make purchases in foreign currency converted at the real exchange rate i.e. the rate at which banks exchange money, also called the interbank rate or mid-market rate. There are certain limits on the total amount of fee free transactions or ATM withdrawals, after which a fee will apply.

Please note, if the currency of your transaction and the currency of the underlying payment card used with Curve is the same, Curve will always pass through the transaction with no additional fees.

Foreign transaction charges until 19th November:

For the next 60 days, our fees and spending caps will be:

Curve Blue (free product): 0% fee on spend in over 150+ foreign currencies worldwide of up to £500 per rolling month, with a 1% rate surcharge after that. ATM withdrawals are free up to £200 per rolling month, after which there will be a charge per withdrawal of £2 or 1%, whichever is higher.

If you are a frequent traveller, our Curve Black product might be better suited to you:

Curve Black: 0% fee on spend in over 150+ foreign currencies worldwide (subject to fair use policies above £15,000 per rolling year). ATM withdrawals are free up to £400 per rolling month, after which there will be a charge per withdrawal of £2 or 1%, whichever is higher.

Weekend rates: In case of withdrawals or purchases over the weekend using an underlying payment card set to a different currency than the transaction, we will use the rate from Friday at 23:59 GMT and apply a surcharge (due to reduced market participation). For transactions where both the transaction and the underlying payment cards are in GBP, USD or EUR and are not in the same currency, the surcharge will be 0.5%. For all other currencies, the surcharge will be 1%.

Foreign transaction charges from 19th November:

In 60 days time, we will introduce the following updates:

Curve Blue (free product): 0% fee on spend in over 150+ foreign currencies worldwide of up to £500 per rolling month, with a 2% rate surcharge after that (before 19th of November this surcharge will be 1%). ATM withdrawals are free up to £200 per rolling month, after which there will be a charge per withdrawal of £2 or 2%, whichever is higher.

Curve Black: 0% fee on spend in over 150+ foreign currencies worldwide (subject to fair use policies above £15,000 per rolling year). ATM withdrawals are free up to £400 per rolling month, after which there will be a charge per withdrawal of £2 or 2%, whichever is higher.

Weekend rates: In case of withdrawals or purchases over the weekend using an underlying payment card set to a different currency than the transaction, we will use the rate from Friday at 23:59 GMT and apply a surcharge (due to reduced market participation). For transactions where both the transaction and the underlying payment cards are in GBP, USD or EUR and are not in the same currency, the surcharge will be 0.5%. For all other currencies, the surcharge will be 1.5%.

What do I need to do?

If you’re happy with the updates to our Terms of Service, you do not need to do anything. If you are not happy with the updates, you have the right to terminate the agreement with us and close your account without charge at any time before November 19th, 2018. If we don’t hear from you by then, we will take this to mean you have accepted the updates. If you have any questions, please contact us atsupport@imaginecurve.com.

For more information, please read our launch blog post or our full Terms of Service.

Best wishes,
Team Curve


#858

Sorry, I was copying from the Head for Points website (it was the only place I could find info on it).

The comments section was discussing the fee for the black card (comments were the same as here pretty much).

So either they know something we don’t, or they’ve got their wires crossed.


(Jamie 🏳️‍🌈) #859

Looks like the third party website is incorrect. The Ts&Cs (“Version 20.09.18”) do not refer to an annual fee.


#860

Yeah I was reading that - Doesn’t surprise me in the least.

Oh - I’ve also found out that the cards with “commercial” on are business accounts apparently.

You can have blue and black commercial.


(Harry) #861

I hate that they make changes then announce it or make their customers aware. It doesn’t comprehend in my head.


(If there's the wrong end of a stick, you'll find me holding it.) #862

There’s an interesting blog on how Curve works here;


#863

:point_down: :man_shrugging:


(Harry) #864

It’s not just this change. They announced their dynamic MCC changes on a blog post which then wasn’t advertised clearly.

I still haven’t received an email update about that :man_shrugging:t3:


(Andy) #865

No charges yet… If I notice any, the plan will be to change payments to the debit card using time machine :crossed_fingers:t4:


(Dawid) #866

Has Curve got a web interface?


#867

No. Just app.