Curve fee changes

[Crafty]

Just received the following:

We’re changing the way we handle business funding cards. We are changing our terms of service to allow all our customers to make the most of Curve. We’re introducing new monthly fee-free limits to all of our customers who want to use a Business card on their personal plan. These new changes come into effect on 10 June 2023.

The changes include a monthly limit of £1,500 for Curve Metal, with the 1.5% fee applied above that.

I can’t say I understand what is happening. I don’t know what “business funding cards” means, and don’t know if mine is one, or is supposed to be one. As such, I can’t work out whether my own monthly Metal limit is being reduced from £10,000 to £1,500 (which would be the end of my relationship with Curve), or there’s no impact on me because mine isn’t a “business funding card”…

Can anyone shed some more light than the official email?

[Jonathans]

Crafty wrote:

Just received the following:

We’re changing the way we handle business funding cards. We are changing our terms of service to allow all our customers to make the most of Curve. We’re introducing new monthly fee-free limits to all of our customers who want to use a Business card on their personal plan. These new changes come into effect on 10 June 2023.

The changes include a monthly limit of £1,500 for Curve Metal, with the 1.5% fee applied above that.

I can’t say I understand what is happening. I don’t know what “business funding cards” means, and don’t know if mine is one, or is supposed to be one. As such, I can’t work out whether my own monthly Metal limit is being reduced from £10,000 to £1,500 (which would be the end of my relationship with Curve), or there’s no impact on me because mine isn’t a “business funding card”…

Can anyone shed some more light than the official email?

Look in your curve App, scroll through the funding cards you have in the wallet and the affected ones have a orange banner in the middle saying “avoid the fees”. Capital on Tap and any other business\commercial\corporate card will be affected. If you only use personal funding credit cards nothing changes.

If you use business cards to fund transactions, you are now looking at paying a further 1.5% on £8,500 worth transactions up to £10,000. Then 3% on everything over that (split 50/50 between the fronted fee and and commercial funding fee).

[Harrier25]

I suppose it could be pressure from the card providers or the regulators, or just a desperate company in financial straits trying to find another income stream. After seeing their published losses over the past few years, which are eye-watering, it’s probably the latter.

[Crafty]

Thanks Jonathans. I only have one card attached to my Curve account, which is a personal (Hilton Honors) credit card, and does not have such a banner. So it seems I’m unaffected. That’s a relief!

[TooPoorToBeHere]

I’ve got the debit card from one of my company bank accounts in Curve (mostly to get the 1% Amazon cashback, occasionally for spending abroad) and I had the “convert your account to business” “offer” in the app yesterday, and now also have the orange banner in the app when the company card is selected.

It’s really unclear to me what would happen in terms of charges/limits if I were to select the “convert Curve account to business” offer they’re pushing. It seems from the other thread that one cannot have personal and business Curve cards simultaneously.

https://www.curve.com/en-gb/plans/#comparison doesn’t show a separate business plan. No doubt there’s something buried in the T&Cs.

[SamG]

Harrier25 wrote:

I suppose it could be pressure from the card providers or the regulators, or just a desperate company in financial straits trying to find another income stream. After seeing their published losses over the past few years, which are eye-watering, it’s probably the latter.

I wouldn’t say it’s desperate, just sensible. They make a lower swipe fee on their personal debit but pay a higher interchange when they charge it to a business card. This causes a loss every time you charge their card which would be mad to allow to continue

[sm]

Good morning. I have the free curve card and I’m aware of a 2% fee of any expenditure abroad more than £/€1000. If my transaction is just over that amount, would I be charged 2% on the whole thing or just the bit over the 1000. Thanks very much.

[roger]

sm wrote:

Good morning. I have the free curve card and I’m aware of a 2% fee of any expenditure abroad more than £/€1000. If my transaction is just over that amount, would I be charged 2% on the whole thing or just the bit over the 1000. Thanks very much.

Only on the excess amount above the limit

[sm]

roger wrote:

sm wrote:

Good morning. I have the free curve card and I’m aware of a 2% fee of any expenditure abroad more than £/€1000. If my transaction is just over that amount, would I be charged 2% on the whole thing or just the bit over the 1000. Thanks very much.

Only on the excess amount above the limit

Thank you!