Curve Blue's no Currency Conversion Fee up to £500 per month - 30 days rolling or calendar month?

“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.
6 Likes

Hello @alamizsna and welcome to the community :wave::slight_smile:

Investigating this internally and will post an update as soon as possible!

Thank you for writing clear points on how we can improve and make this a better experience for all our customers - really appreciate it. Have shared your bullet points with our Product Lead :smiley:

1 Like

I’d argue that a rolling 30 day period can’t reasonably be considered to be a month (a month is pretty well defined using the calendar!), if we’re already on the topic of stating things clearly…

February would argue pretty hard about that. :wink:

Does your calendar not have February in it!? Should probably see about a refund for that :wink:

1 Like

Touché but oh contraire I would argue the exact opposite as February is odd in the fact that it is NOT as easily defined. If it was it would have 30 or 31 days that never changes but alas it has 28 days every 3 years then 29 for the next year only for it to drop back to 28 again for the next 3 years.

However I am arguing semantics as I currently have nothing better to do with myself. :grin:

Both the 0FX and ATM free fee limit are on the same 30 day rolling window. Have put in a request to make this clear in the terms :slight_smile: Update: It will be incorporated in the next update.

1 Like

I have been told by Curve that these 30 days rolling is actually 30 day window that is shifting, which is very hard to calculate for the average user, so the best thing Curve can do is at least something like a free-fee limit bar chart in the app so one knows how much is left, as it is almost impossible for the user to know that in a certain moment!

1 Like

Yeah, you’re right, it should be simpler. The limit will be visualised in the mid/long term alongside your Curve card spend limit.

As well as a visualisation, what about a simple 28-day fixed period? There are 13 x 4 week periods in a year…much easier for everyone to calculate, especially when visualised?

This is the answer I got from the support:

A 30-day rolling limit means that the combined total of all transactions you’ve made during a 30 day period cannot exceed the limit set on your account. Once you reach day 31, transactions you’ve completed on day 1 of the 30 day period will start to “drop off” and your limit will increase again by the amount of the transaction that’s “dropped off” at the beginning.

I believe this is fine, especially if the limit is visualized in the app, and clearly explained in the Terms. Then you know exactly how much you can exchange that day with 0FX.

Nice, thank you!

Any news about this? I just updated the app the other day and it seems it’s the same still. I’m a new pretty happy Curve Blue user, but the information regarding FX fees is too vague. Some nice visualization or at least just a message telling me I’ve spent 500 during this current window would be great, but also, since FX fees may apply during the weekends, it’d be nice to know the exact exchange rate as well as all additional fees for each transaction. During weekends, if the 500 pounds limit is crossed, I believe the exchange fee, according to your terms, is 2% + 1.5% = 3.5% if the card’s currency is in SEK and the charge is in euros? These kinds of things would be nice to see for each transaction so you get a better idea of all the aspects playing in - weekend fee and the reason for its size (due to the currencies involved), Curve fee because of crossing the 500 pounds limit… Now I only get messages like “Exchange rate SEK1,00 ~ €0,09” which isn’t very fine-grained and doesn’t really tell me if there’s any additional charges being applied in the past since it’s hard to look up exchange rates, especially during the weekends. Hidden fees of several percent could be hidden in that rounding off.

And what’s the “You saved approx…” message about - I saved this much compared to what? I thought it was an indication of the 0 FX fee thing being applicable still, but I’m past the 500 pound limit for the last 30 days so I don’t think that’s the case…

I’m also wondering whether this 500 pound limit is counted towards when you let the internal card (the card that the Curve card “wraps”) do the exchanging (by setting its currency to e.g. euros if the charged currency is in euros)? It’d be good if that were the case, but hard to calculate when the 500 limit is reached since there’s no way to sum just those transactions where the wrapped card did the exchange, so some kind of visualization or indication of whether the 500 limit is reached would be necessary.

I would like this to be clarified too.

I think you guys should do something like: £1 = $1.3; You paid $2 in fees.

Instead of building it into the exchange rate - because you’re not dropping the exchange rate, you’re adding a markup.