“Up to a spend of £500 per month” is actually per 30 day rolling instead of a calendar month.
So here’s my issue:
- You cannot check in app how much you have left of the 2% conversion fee free £500
- It is stated nowhere that it is actually a rolling month, not a calendar month
- You cannot tell it took a fee unless you calculate, because it’s built into the conversion rate
This is not clearly stated in the ToS. In other parts of the ToS, it clearly states “£5000 max per 30 days (rolling)” instead of “month”.
I just realized I paid a lot of fee without my knowledge, and I had no way of knowing without calculating the conversion rates.
“Curve (free) customers: Up to a spend of £500 per month - no currency conversion fees will be charged. From £501 and above (cumulative) a month, you will be charged an additional 2% as currency conversion fees.”
" Up to a spend of £500 per month - no currency conversion fees will be charged and the transaction will be made at the Standard Exchange Rate, if there is any spend beyond this Curve may charge 2% of the amount of the transaction over the Standard Exchange Rate as currency conversion fees"
I believe these changes would make it clear how it works, so consumers do not get misleaded:
- add the limit in the app so I know how much is left of the £500
- clearly state in the transaction that there was a fee
- clearly state in the ToS that it is a 30 day rolling month, not a calendar month.