Support for Multi-Currency Cards

currency

#1

Although Curve is a great solution for paying abroad without the expensive exchange fees, I mainly use Curve to gather all my cards into one. A few of my cards, the Revolut card included, already give me a great exchange rate. For cases like this, it would be great if there was some way to let Curve just pass through the original currency.

You can manually change the currency of the card for each transaction, but this is not a viable solution.


Curve metal card
#2

Go to the card info, select “Change card currency”, then choose the currency you want.

When your Curve card is charged in that currency and you have the card selected, it will pass the transaction through without exchanging.

I don’t think there’s any way to make Curve do this for ALL currencies though.


#3

As I said, I’m aware you can do this, but doing this for every currency is a hassle. Would be gray to be able to turn of conversion for select cards.


#4

I just use my other :credit_card: in this case :wink:


#5

Same here, would love to see a “don’t convert for this card” option in the list of currencies. As nice as Curve is, doesn’t always provide the best fx rate for all currencies. Probably going to Mauritius soon and MUR is not supported by Curve. This means I will have to use my travel credit card directly instead.


#6

MUR is showing as an available currency in my app to select for a linked card.


#7

I agree, I wish you could turn off currency conversion for some cards. My Monzo and Tandem cards tend to have better conversion (especially weekends). So would be nice if you could turn this off on a per-card basis.


#8

Great suggestion, thank you for posting it @BendikHa :slight_smile:


#9

The feature “charge your underlying card in the currency you pay” has been requested more than a year ago.
@Curve_Marie is it possible to implement it on the next release? I’m sure it is not a hard work to implement that…

Thx :blush:


#10

There are many aspects to consider when developing financial services, technical feasibility is one part. We also need to consider demand, compliance, regulations, and commercial sustainability. We’ve been working on the next release for some time and have many exciting features coming up, multiple currency card is not included this round.

Customers have requested many great features! You can all give this idea traction with comments and likes to show the demand, which will pump it up on the priority list - that’s the beauty of the community :smiley:


#11

Check again. The page has two sections; “supported” and “not supported”. MUR is under not supported for me regardless of which underlying card I select.


#12

Maybe I’m confused.
This is what I see in help

Please note, if the currency of your transaction and the currency of the underlying payment card used with Curve is the same, Curve will always pass through the transaction with no additional fees.

So if you’re happy with the FX on the underlying card, selecting the currency is probably the way to go.


Curve Card Currencies
#13

Ah, I hadn’t seen that yet. So even though Curve does not support the currency, they will allow transactions in any currency to go through and they won’t FX it? Good spot thank you, might use Curve abroad after all although I would need to remember to change the default currency of the underlying card each time :sob:


#14

I think the help is generally very unclear to say the least… but this is how I read it.

I’ve only ever done this for currencies that are also supported by Curve, so can’t confirm 100%.

Maybe @Curve_Marie can confirm for you.


#15

Hey all,

I will advocate towards manually changing the card currency, nonetheless. I have done this many times and it is not such a big hassle really and moreover it let me stay in control, rather than trusting the card own ruleset to decide which balance to use (* for Revolut, see at the bottom).

Moreover you must be alert for the possibility of an unwelcome DDC (Dynamic currency conversion) at the merchant terminal or an unwelcome FX while passing the transaction between Curve <->Revolut, something you better be cautious about.

In principle, if you let Curve pass the original currency to a multi currency card, i.e. Revolut, TransferWise debit, for which you do not hold a balance in that currency already, I think it is generally okay, FX will happen anyway so you do not care that much. But, if you do hold a balance and you want to use that balance, it starts getting tricky. What exactly is to happen?

  1. Say, for example, that you want to buy in CHF with Curve and use your Revolut CHF balance for it.
  2. To start with, your Curve is most likely identified by the terminal as of GB origin from its BIN (bank identification number). -> First checkpoint, remember not to opt for DCC, because then the merchant terminal will FX CHF->GBP.
  3. Let us assume that you passed the first checkpoint and opted to pay in the original currency, in our example CHF.
  4. In this case, it is more than likely that, Curve will pass the CHF amount to Revolut to be paid in GBP (in our example, this is the base currency set inside Curve for Revolut). Then, Revolut own conversion priority rules(*) kick in and the conversion path is not as easy to predict. I believe that Revolut will spend from your GBP balance (or FX to GBP) rather than paying with your existing CHF balance.

I am fairly sure that someone can experiment and figure what happens right, but for the hassle of all this uncertainty, again, for me safest and simplest way is to take the few seconds to manually set your underlying card currency, per occasion/use, and in doing that to keep full control.

my $0.002,
cheers

(*)
The card selects which balance to use in the following order:

*The local currency of the merchant/ATM e.g. if you are in Spain, it will deduct funds from your Euro balance.

*Your base currency - i.e. if you used a UK address to sign-up, your base currency will be GBP.

*Your largest balance.

You need to have sufficient funds in one single balance in order to make a transaction. If you don’t have enough funds in the balance of the local currency, it will default to your next largest balance and so on.


#16

The FX rates are at the mid-day MasterCard rates. Can’t get better than that. I don’t understand the hassle - even if there was a difference, it’s not even within 0.5% so I highly doubt you will see a difference that justifies even manually adjusting the rate. On black you have up to £15k fx free pa - great stuff if you ask me.


#17

It’s not MasterCard rate, it’s interbank


#18

You seem to be overthinking it. An option when selecting card currency named “never do fx conversion” would be welcome. Also, my curve card in the Eurozone never triggers DCC prompts, which revolut does


#19

Because there is a fee over the weekends when the exchange is closed.


#20

I read that now in the t&cs - they need to get this removed. 1.5% on weekends outside Europe is horrendous when you consider paying £15/month for metal