Terms and condition about cancellation of metal is concerning

I have just read the T&Cs for metal card cancellation and I would love someone to elaborate on this. It states "You may also be charged foreign exchange fees on any transactions that you have made using your Curve Card at the rate of 2% of the value of the transaction. "

Does that mean if I use curve metal for 6 months and I spent £1000 pounds abroad during this period they will charge be £20 just for the cancellation of metal after the cooling period? What is the point of the whole 0-FX if you is just going to charge me 2% after I stop using curve?

2% of 1000 s not 20GBP?

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Sorry yep. Was just giving an example, still concerned about the issue though.

Yes . i apologize for my too quick answer ! :wink: But you are right, the issue is to be discussed…Pat

Hi @Hcurve
To clarify, please see the correct clause for Metal card cancellation here:

“If you cancel your Curve Metal Account within the Cooling Off-‎Period (6 months) and you have not used any of the Curve Metal Services, we will refund your Curve Metal Subscription fee in full. Otherwise, we will issue you a partial refund based on the use of the Curve Metal Services used during that time. For the avoidance of doubt, the order and delivery of a Curve Metal Card will be considered a Curve Metal Service for these purposes and you will be charged the Curve Metal Card Fee which is £50.”

The clause mentioned in your post in full is:
“At the time of cancellation, any balance on your Amex Wallet(s) will be refunded to your respective Amex Payment Card. In addition to the above, Curve retains the right to charge you 0.65% on any balance on your Amex Wallet(s). You may also be charged foreign exchange fees on any transactions that you have made using your Curve card at the rate of 2% of the value of the transaction.

You will not be charged any additional fees other than the £50 cancellation fee for your Curve Metal card, if you cancel your subscription within 6 months.

Thanks for the response. Just for clarity, if I was to cancel the account after 7 months of starting the monthly metal subscription. There will be no 2% charge on any foreign transaction I made during the 7 months ?

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I’d be pretty astonished if you are still using a balance in your AMEX Wallet? As im assuming given the clause that was posted in full that this term only applies to AMEX Wallet?

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No excuse for these lazy replies from the Curve team. @Curve_Liz did not properly read the post from @Hcurve.

He/she is asking to clarify the cancellation fees that apply after the cooling off period, not before.

Additionally, the clause in question is confusing. Amex wallets are mentioned, but

You may also be charged foreign exchange fees on any transactions that you have made using your Curve card at the rate of 2% of the value of the transaction.

is a clause that does not mention, nor is dependant on the use of an Amex wallet.

Especially after the recent round of investing, Curve should realise that many of this community are now stakeholders, and slow, lazy replies to genuine concerns simply do not suffice.

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The 2% charge on foreign exchange transactions here is exclusively in regards to the clause regarding funds in your AMEX wallet.

This clause has nothing to do with the general cancellation of a Curve Metal card, in or out of the cooling-off period.

I am not a lawyer but don’t think those T&C would be legally enforceable in the UK even if it’s possible to order the metal card and not request delivery (which sounds unlikely unless someone accidently ordered metal and cancelled immediately)

You would be much better off giving customers a14 day (or similar) opt out period with no catches and then charging the £50 fee after that and within 6 months.

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@Curve_Liz can you confirm that you are saying the cooling-off period is 6 months? The terms suggest it is something different…they refer to the cooling-off period multiple times and on one occasion it states:

“If you Downgrade your Curve Metal Account within the first six months of the start of your Curve Metal Subscription (including during the cooling-off period), you…”

That makes it pretty clear that six months and the cooling-off period are different time frames else why would you say “including during the cooling-off period”. There are other examples like this as well within the terms.

This is important because if I have paid £75 (5 months x £15) then choose to cancel within the 6 month cooling-off period you refer to, I will get a £25 refund given I haven’t used any of Curves services other than getting the the Metal card which reduces the full refund by £50.

Edit: I thought for moment that Curve had scored an own goal by not actually quoting what the cooling-off period is. If that had been the case they would have struggled to legally enforce any terms that apply outside of the cooling-off period if they didn’t tell customers what it is. They do however quote it as 14 days in 18.3. @Curve_Liz you might want to correct your post above.

As already highlighted by @sa but not acknowledged by yourself, no where in that sentence in the terms does it state that it relates exclusively to your AMEX wallet so that should probably be looked into.

As an aside, I have to say that these Terms are written so badly. There are multiple grammar, spelling and punctuation issues as well as missing words in sentences. It really does look unprofessional.

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Something everyone should be aware of regarding cancelling and the cooling-off period…the terms specifically state that the cooling-off period starts when you first signed up with Curve for any account and it does not re-start when you upgrade or downgrade to a different tier. That’s a bit sneaky :thinking:

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Not just sneaky. I image it would be considered a unfair T&C under English law

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Completely agree!

I’m pretty sure they have to provide a cooling-off period when signing up for a subscription service especially when it includes insurance products.

Given the state of the terms I really wonder if a solicitor or similar (or even anyone with any legal training) has even reviewed them.

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Yup, completely unenforceable.

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In fact, thinking on it further, it’s even worse given Curve are selling financial products, so it would breach the FCA’s rules and their ‘Treating Customers Fairly’ principles which the FCA attach great importance too (as well as the contact law point mentioned previously)

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To confirm, there is a 14-day cooling off period when signing up to any product with Curve where you will be entitled to a full refund of any fees paid for the service! :slight_smile:

The 6 months period is in regards to the Curve metal cancellation fee; whether it is applied or not. If you choose to cancel within the 14-day cooling off period, you will not pay the cancellation fee. If you cancel after the 14-day cooling off period and you are within your first 6 months of usage, there will be a cancellation fee.

Hope this helps to clarify.

So if it’s been 6 months people can downgrade for free?

Yes! That’s correct and applies to the Metal card only. @ChrisAK

I am unsure as to what people are not understanding here? It is the same as taking out Home Broadband (for example). You have a 14-day cooling off period and then are charged for the usage if you switch before the end of the contract, in this instance, 6 months. This is standard and something I would expect from a company who are paying out for you to have the metal card for you to only go and cancel before that cost has been recovered from a minimum of 6 months.