Card settings - a query



In card settings (the settings for the underlying card), there’s an option to change the card currency. All mine are set to GBP by default.

What’s it’a purpose?
When would I change that?


Which currency abroad?

When you live in a different country than the UK and have a card from there, i.e. France, you want Curve to charge the underlying card in EUR. That’s the entire idea behind of Curve.


Ok. So I can effectively disregard the feature?


What if you go to a country where you’ve had experience of the merchants automatically charging the DCC rate (charging you in GBP, not EUR for example).

If your underlying card offered fee free foreign spending, could you change that card currency to EUR for the duration of your stay?


Exactly the reason behind my query.


I’ve got a KBC Ireland card linked to my Curve card @Graham. I had to change the currency from GBP to EUR when I linked that.


If you have a UK GBP credit card with no 0% foreign transaction fees and you travel to a different country, lets say the U.S., you can change the currency of the underlying card in Curve to USD. When you use your Curve card then, Curve will charge your underlying card in USD and not GBP.
You can find a list of supported currencies within the Curve app.

But with the new 0% fx fees feature from Curve if you only have small transactions there isn’t really a reason to change the underlying card currency, since Curve will charge you 0% anyways. Also keep in mind that Curve uses the interbank rate which can be much better than the conversion rate of your UK bank.
But also keep in mind that the 0% have a max. cap as well are not effective on weekends.

Long story short:
Own a UK card with 0% fx fees and GOOD exchange rate, answer is yes:
Travel to a different country:
and make only small transaction and NOT on the weekend --> no reason to change anything
high transactions or a lot of transaction on the weekend --> defintely change the underlying currency


So if I change the underlying card to euros, the merchant won’t even see the transaction as one where DCC could apply?


I’m not sure this is the case as at the end of the day the BIN on the card will still be registered to the UK. If you have a UK Revolut for example, whatever currency you’re putting through it, the card is still seen as a UK card, even if you’re using the Euro Account in the Eurozone, so there is still the potential for DCC. Perhaps Curve is different? I don’t know enough about it but there seem to be plenty of Curve staff on here so maybe someone will pop up and tell us!

That is the one downside to the upcoming Starling Euro account, because they’re using the same card, which is a UK card, rather than providing a separate Euro card registered to a european country (at least that was what they were saying originally), the card will always be seen as a UK one meaning there is still potential for DCC.


OK, so for the sake of a change of setting, and the peace of mind that they won’t be able to charge DCC, it would probably be beneficial to change the underlying card to EUR at the start of your trip (assuming you are in the EU Zone of course!)


True. I’m french and All of my cards on Curve app are set in Euro but my Curve Card still an UK Card and recognized as such by some ATM asking me if i want a local and expensive conversion from GPB to EUR with charges… :grimacing::grimacing::grimacing:


Traditionally very useful for Lloyds Avios card - 0% forex but still earn on spend. Less important now Curve is fee-free during the week, but still saves you 0.5% at the weekends!


There are other uses as well,
I have a Canadian credit card which is demominated in both CAD and USD (with two different credit lines in each currency on the one card), so it makes it easy to switch between the two currencies.


I’m revealing my dimness here, but I still don’t see a categoric explanation for that card setting and when I would use it.


Won’t help.

If you change the funding source to EUR, say, then you’ll get multiple conversions: charged in GBP, then converted by Curve to EUR and charged to the card in Euros.


So what’s the purpose of the feature?


To get the best exchange rate. With Curve you can have 0FX (weekdays), if your underlying funding card can’t match that, the better option would be to put the exchange on your Curve card.

Does that answer your question?


It doesn’t, Marie, I’m afraid. I’m referring to the feature in the underlying card settings - “Change card currency”. Should it always be set at the cards default currency?


I see. Just check up on this: it was set up for cards that could be charged in multiple currencies.


Ah, thank you. All is revealed :grinning: