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In Spain. Using Curve Metal. Weekday transactions.
Where the payment terminal offers EUR vs GBP I always choose EUR.
But I *think* the Curve Sterling amount has come through the same or even higher than the “bad” we’ll-convert-it-for-you option the last few transactions.
Maybe I’m imagining it as I jab at that EUR option quickly.
Tonight’s dinner has come through at £1=EUR 1.164 even though the rate is about 1.175. Not great but not terrible.
So maybe the we’ll-convert-it-for-you rate is no longer punitive and that’s making Curve look uncompetitive.
Anyway just wondered if I’m imagining this.
Always select GBP as if you select euro the shops apply their own currency conversion rate and is always costly
Always select GBP as if you select euro the shops apply their own currency conversion rate and is always costly
Other way round.
Mastercard has the rate for Thursday 9th at 1.163788
Always select GBP as if you select euro the shops apply their own currency conversion rate and is always costly
Other way round.
Yes, other way round, apologies, i must be tired 😉
So the mastercard rate of 1.164 is a 1% markup over the interbank rate of 1.175.
It’s usually a bit better say 0.5%, but not unusual to be 1%.
The DCC rates at card terminals will never be better than 3%. Typically you’d be getting 1.12 when the interbank rate is 1.175; and some cards may still levy a foreign transaction fee on that.
Used Amex in Euros to get another Hilton offer yesterday, and the rate I got was 1.132. So taking off the 3% forex fee their exchange rate was also 1.166.
According to Visa website their exchange rate today is 1.164 and yesterday 1.1676. Anecdotally I find that visa’s rate is better about every 1 in 3 days and mc’s rate is better the rest of the time, but all the data is available online if you want to make an educated prediction for your own situation
I wish Curve still converted at the interbank rate. There is no real advantage in using them anymore now they use the MasterCard rate like everyone else, except Revolut, so usually just use my Virgin Atlantic card now around the EU regions.
I’m going to Croatia later this month and don’t think the Virgin Atlantic cards are fee free there, unless anyone here knows any different?
Thanks for the replies. In the run up to this I received a marketing email from Curve inviting me to ‘Upgrade to Metal’. As I already hold Metal it made me wonder if they’d downgraded me by mistake – but no.
I guess the upshot is Curve saves something, but it doesn’t save 2.99%, even before the weekend loading.I wish Curve still converted at the interbank rate. There is no real advantage in using them anymore now they use the MasterCard rate like everyone else, except Revolut, so usually just use my Virgin Atlantic card now around the EU regions.
I’m going to Croatia later this month and don’t think the Virgin Atlantic cards are fee free there, unless anyone here knows any different?
You should be fine – Croatia IS in the EEA – https://uk.virginmoney.com/virgin/service/credit-card/messages/using-your-card-abroad.jsp#:~:text=If%20you%20use%20your%20card,a%20Non%2DSterling%20Transaction%20Fee.
Thanks @Guernsey Globetrotter, I was just slightly concerned as the Croatian Kuna isn’t mentioned.
i might have missed that honestly, I thought that it was still one of the best rates on the market.
It makes sense then to spend on Curve here and switch to Virgin while abroad. Could help with
I still prefer to spend on my ccard rather than revolut though.I’m a new U.S. Curve user and was also quite appalled by the exchange rate used when converting euros to dollars. It was about 2.5% above the market rate – not sure if this is Curve funny business or crazy MasterCard rates.
If my next non-USD charge has a similarly terrible rate, I’ll probably be condemning the Curve card to my sock drawer. (I have plenty of cards with no exchange fee, but I wanted to earn the extra 1% Curve currently offers).
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