Some new Curve terms , notably credit card fronting on a metal subscription is only free up to 10k per month now , then 1.5% , and crypto transactions are now allowed.
See below for the full
Summary
As Curve continues to evolve, our product and terms of service need to evolve too. That’s why we’re reaching out to let you know about some changes to our terms of service.
What’s changing?
We’re introducing a £10,000.00 limit to Curve Fronted for our Metal customers. The first £10,000.00 you spend via Curve Fronted per calendar month will be service fee free, but from 1 December 2021 you will be charged a 1.5% service fee on the total transaction value in excess of the limit.
As a Metal customer, you’ll still be saving up to £150 per calendar month compared to our Blue and Black subscription tiers on Curve Fronted spending up to £10,000.
We’re now letting you purchase cryptocurrency with your Curve card. We’ve removed the prohibition in our terms of service that prevented you from purchasing cryptocurrencies, which you can now do at certain merchants (click here for the full list). You should note that your underlying funding card may apply fees and charges when you purchase cryptocurrencies and this may also be regarded as a cash advance on some credit cards. You should refer to your underlying funding card’s terms of service.
Please note that the purchase of cryptocurrencies or any other type of commodity is not covered by the Mastercard Chargeback Scheme rules. In these instances, Curve cannot raise a chargeback claim on your behalf if something has gone wrong. These transactions are also not covered by the Curve Customer Protection Policy.
There’s updated language in our terms and related policies about…
Curve Customer Protection and section 75 protection. Nothing is changing. We’ve simply clarified that when you fund a Curve card purchase with an underlying credit card, your purchase does not have Consumer Credit Act section 75 protection. This is because section 75 protection only applies for direct purchases. However, to ensure you’re covered, we created Curve Customer Protection which protects you for up to £100,000.00 on eligible purchases. To read more about Curve Customer Protection, click here.
We’ve clarified that payments to NS&I (National Savings & Investments) are Curve Fronted transactions when you use a credit card as your underlying funding card. If you make payments to NS&I by credit card, you need to turn on Curve Fronted in the app. Please note that a 1.5% fee applies to Curve Fronted transactions unless you are a Metal customer (which has a fee free limit of £10,000.00). We will be applying the 1.5% Curve Fronted fee to NS&I transactions from 7 October 2021.
We’ve clarified the wording in our Fair Use Policy about what amounts to cash recycling and provided further examples to help you understand what is not allowed. In particular, we’ve clarified that cash recycling includes the use of a credit card to deposit funds via Curve into an investment account and then to other accounts before being used to pay off the original credit card account only to then be circulated again via Curve. You can review our Fair Use Policy here.
We’ve updated the Curve Customer Protection Policy to make it clear that purchases made for the purpose of trading cryptocurrencies or any other type of commodity are not eligible for a chargeback claim under the Mastercard Chargeback Scheme rules. You can find the updated Policy here.
