Weekend FX cheaper than weekdays FX?

Hello and good afternoon,

I was wondering about the following provisions in the terms: let’s say my 200gbp rolling free FX conversion limit is already used up.

Am I correct to assume that I am better off to make any additional FX conversion transaction on the weekend, not on weekdays?

Because on weekends the conversion rate would only be 0,5 or 1,5 percent, whereas on weekdays it would be 2 percent? Or would the weekend fee be added to such 2 percent (which would however be contrary to what is stated in the terms)?

Btw, I seem to remember that when I looked it up a few months back, the FX transaction fee was only 1,5percent - did they have increased that to 2percent since?

No - although it’s not very clear, the fees are added together. So (assuming the FX markets don’t move!) you are better off spending on weekdays as in your example Curve would charge you 2.5% or 3.5% in fees.

Does the app now itemise both of these fees when incurred, or lump them together in to one?

Thanks Connie,

Then the fee schedule from the website is definitely wrong, because it clearly differentiates between “purchases made on weekdays” and “on weekends”, do adding them up is clearly against the their own terms and conditions.

This whole weekend thing makes Curve quite confusing and somewhat less attractive, even more so if added up to the normal 2percent. 3,5 FX is a totally out of market ripoff fee.
And yes, a 500 GBP rolling limit can be quickly used up after the first rental car and a few nights in a hotel.

Even then normal 2 percent FX (and I am sure that was increased from 1,5 percent) in my experience is more expensive than most cards, which are around 1,75 FX at least here in Germany, so the reasons to use Curve get less and less.

My feeling is: while CURVE is claiming that you could have lower FX costs with them, as a travel credit card it is far less attractive then a lot of their competition.

PS: Sorry, I do not have a case in my timeline where I could see if both fees were itemized.

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I agree, and Revolut does the same. It’s all down to the fintech industry’s obsession of doing FX instantly, even when the FX markets are closed, instead of waiting until the FX markets reopen like conventional card issuers do. If FX markets are closed, then fintechs take Friday’s closing rate and apply a markup that’s sufficiently large to protect them against the difference between Friday’s closing rate and Monday’s opening rate. If they just delayed the FX until Monday’s opening, like other card issuers do, then everyone would be much happier.

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Must say I’m glad I’ve still got my legacy MBNA Horizon card - no forex fee and 0.5% cashback on everything. Whenever I’ve checked the rates it has always seemed to be pretty competitive.

I inadvertently discovered that there even is this weekday-weekend difference when I purchased an iPad Pro for the equivalent of ~1100 € on Apple. I ended up losing some 28 € in the process because I got the weekend exchange rate, which support told me was more expensive than the weekday exchange rate.

  1. I was of course dissatisfied of paying so much extra.
  2. They had not made it clear that this could happen. At the very least, give a notification about weekend rates when changing the currency in the weekend on the cards.
  3. This makes Curve feel like an old-fashioned 20th century bank, not a hot new FinTech startup. Having a difference price and user experience in weekday/weekends because of some exchange rate markets is not a 21st century FinTech experience.