Curve commercial vs curve personal. What's the difference nowadays


#21

Metal? Hmmmm for me I’m going to say no only because I don’t want to pay a yearly or a monthly fee.

The card itself? Definitely which is why I hope they sell the card to those who want it for a fair price. As people might not want the features, just the card.

Google Pay yep I’ll take that.


#22

If the features of the Metal card is good then I’ll consider it! otherwise I’ll not pay any fee


#23

I hear ya! Since I have the pro card for them to get me to upgrade to metal is going to be tough. If they are selling the card as a stand alone product on it’s own. I’ll buy it.


#24

I don’t have a Pro card (black card). But waiting to be available in Greece. Due to capital controls they block my card. :frowning: and still waiting for activate again!!!


#25

Hopefully that will happen very soon.


#26

The funny thing is we have capital controls since 2015 and Curve stop activity in Greece in May 2018. I dont know why…


#27

Hmmmm that’s very odd.


#28

It would be nice to get some of the Level 2/3 data coming through on my Curve transactions though.

Or am I just shopping at the wrong places?

Perhaps Curve need to look into tying up with Flux?


#29

Indeed it would. I’ve used it at places that definitely use L2/3 data but never seen any extra info come through.


#30

As @Canadianspruce said, with Commercial cards the card issuer earns more in the interchange fee, see: https://en.wikipedia.org/wiki/Interchange_fee

The cap used to be much higher in the EU (or was there even any cap at all?) but then the EU ruled that the card issuers charge too much which results in lower acceptance rate cause less merchants are likely to accept “expensive” cards and rather stay with cards like Maestro or ELV (SEPA), which is only 0.19 EUR / transaction for most merchants (at least in Germany) and no % whatsoever.

So in the EU for personal cards its: 0.3% for credit and 0.2% for debit cards.
AmEx and business / commercial cards are excempt!

Thats why when the EU introduced the law many great cards vanished, cause it was one of the main incomes for many banks. Suddenly that income went away, so they cancelled lots of miles and cashback cards.

But don’t confuse interchange fee with merchant fee! Example:
You go and buy something from a Nike store:
Nike pays a merchant fee to their bank / payment processer, such as WireCard, First Data, …
That fee can be anything from 0.5% to 5%, depending on your revenue with the payment processor. For small businesses around 2% is the normal, so thats what the merchant (the shop) has to pay for accepting cards.

WireCard then contacts the customers bank (lets say you have a card with Barclays)
If you have a personal debit card, WireCard can only be charged 0.2% from Barclays, with credit 0.3%
If you have a commercial / business card, they can be charged a MUCH higher fee, so higher income for Barclays.

Thats why every bank loves and prefers to give you out commercial / business cards since they make much more money from them than personal cards. I believe this is the reason why Curve started with those as well.

BUT banks are required by law to ask you if its really just for commercial expenses.
Some banks just let you make check a box and say, hey, we asked, and he said yes, even if he uses it for personal expenses or doesnt own any business whatsoever, thats not our fault.
Some banks really ask for proof of ownership of a business.

As a customer it doesn’t really matter:
If you want to support small businesses, be nice and use your personal card cause its cheaper for them.
If you want to support your bank, use your commercial card cause they make much more money :slight_smile:


Clearer Sign-up Experience
#31

Thanks for the quick lesson, interesting.
Mine is commercial and I’ve had a couple of issues with large amounts I wonder if that made the difference one lady said she had used a different terminal or something to that effect.


#32

I read somewhere Revolut won’t allow top ups from a commercial/business credit card


#33

They do allow, but they charge a fee


#34

When I was sent a commercial black card I asked them to change it to a personal one. First they said it makes no difference. I had to explain it to them. Then they sent me a personal black card.


#35

Fees can be charged for payments on the commercial card, e.g. by HMRC, so you should always request a personal card, if you’re entitled to.


#36

This is a great explanation - thanks @Lucas!


#37

Good to know. So…

  1. if the card says commercial, does that actually mean it is commercial (ie some blue accounts have a black card issued but it is a blue account)
  2. will curve send a personal one on request
    Thx

#38

The account/card being blue or black doesn’t have anything to do with the card being commercial or not


#39

Yes. I had one which was marked “Commercial” and I asked them if I could have a personal one instead as I don’t make business purchases on the card. I received the replacement earlier this week.


#40

The blue/black was an example of an account not being the same as the card.

The question was:
If it says commercial, does that definitley mean it is a commercial card,
or do some personal accounts have a card issued that says commercial on it.