As a user of Curve
I would like to pre-load £100 into a buffer account
So that my card can be pre-auth’d for up to £100
And then I can buy petrol from the pump.
As a user of Curve
As far as I know curve doesn’t have the right license for this. To hold funds for customers you’d need some sort of financial license. Since they charge the underlying card directly (even for auths), they don’t need it.
Therefore, topping up your account as you’d do with other banks isn’t an option.
“To comply with Anti Money Laundering regulations, we need to process the refund to the original card that was charged for this transaction.”
Although with the new Amex wallet I wonder if it could be possible?
Yes, also curious how it works now with a prepaid wallet, under the old t&c that wouldn’t work since Curve doesnt have the license for holding any funds from customers.
@Curve_Marie can you give us any insight how this works now?
Yes We are not licensed to hold funds as we are not a bank, however, we are partnered with Wirecard.
From our T&C
Curve 1 Limited is a UK registered company No. 9523903 (“Curve”). Curve does not have control of nor assumes the liability or legality for the products or services that are paid for with our Service. Wirecard Card Solutions Limited is a UK registered company No. 07875693 authorised and regulated in the UK by the Financial Conduct Authority to issue e-money (Firm Reference Number: 900051) (“the Issuer”). The Curve Card (Curve Prepaid Mastercard® or Curve Debit Mastercard®) is issued by the Issuer and promoted by Curve as a distributor. You are the person entering into this Agreement to use the Service.
1.4. Your Curve Account
1.4.1. The Curve Card accesses your Account which stores e-money.
From the Beta T&C
5.1.1. You can add an American Express card as a Payment Card to your Curve Account (“Amex Payment Card”) if it is one of the eligible cards listed in Schedule 1. In order to use your Amex Payment Card you need to pre-load an e-wallet associated with that particular Amex Payment Card within the Curve Account. (“Amex Wallet”). Once your Amex Wallet is funded the funds will be stored as E-money.
Protection for e-money deposit in 'amex balance'