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@JDB, losses would be indirect due to inability to use as a debit card eg fronted. But hardly a case for a claim. I too am confused however as to how they could switch you from a debit card to a credit card without your agreement. Hey ho, as you say they’re a law unto themselves…
Just saw this from an email about Curve Flex:
“Use Fronted to earn rewards or split payments – even where credit cards aren’t accepted – via a one-time debit card linked to your credit card that resets automatically after each purchase.”
Can anyone with the Curve Credit card confirm this feature?
Thanks
Just saw this from an email about Curve Flex:
“Use Fronted to earn rewards or split payments – even where credit cards aren’t accepted – via a one-time debit card linked to your credit card that resets automatically after each purchase.”
Can anyone with the Curve Credit card confirm this feature?
Thanks
Can confirm. Fronted has appeared in a month old credit card type account, even without activating Flex.
Can confirm that Curve fronted works now again even if you are issued a CC by Curve. You are given a single use debit card in the app when you click on fronted.
Interesting. I guess that’s the direction that they want to move to. Saves them from the losses on paying the difference in interchange fees.
Also helps them to easily track every fronted payment. Previously some worked without having to turn on fronted, but all that will stop now.
You lose some you gain some (S75).Bend it while you can…
Sky News has learnt that Lloyds Banking Group is in advanced discussions to acquire Curve for a price believed to be up to £120m.https://news.sky.com/story/lloyds-banking-group-in-talks-to-buy-digital-wallet-provider-curve-13395702
Just saw this from an email about Curve Flex:
“Use Fronted to earn rewards or split payments – even where credit cards aren’t accepted – via a one-time debit card linked to your credit card that resets automatically after each purchase.”
Can anyone with the Curve Credit card confirm this feature?
Thanks
Can confirm. Fronted has appeared in a month old credit card type account, even without activating Flex.
For a free account it says a 2.5% fee may apply. Is there any free allowance for the paid for plans?
Bend it while you can…
Sky News has learnt that Lloyds Banking Group is in advanced discussions to acquire Curve for a price believed to be up to £120m.https://news.sky.com/story/lloyds-banking-group-in-talks-to-buy-digital-wallet-provider-curve-13395702
Sources say Lloyds is just waiting on the lawsuit on Amex to finish.
Bend it while you can…
Sky News has learnt that Lloyds Banking Group is in advanced discussions to acquire Curve for a price believed to be up to £120m.https://news.sky.com/story/lloyds-banking-group-in-talks-to-buy-digital-wallet-provider-curve-13395702
JDB will be in for a windfall as I believe he was one of the early investors?
The Sky News article says, “Curve did not respond to an enquiry sent by email.” Now there’s a suprise!😂
@BBbetter – there’s not going to be a windfall for anyone. The reported sale price is well below the 2019 c. £200m crowdfunding valuation and about a fifth of more recent funding rounds.
I’m not and never have been an investor – I love the product but have consistently said on HfP that I don’t understand the investment case and even have Curve carved out of a fund in which I invest. At the £120m valuation, they are basically throwing in the towel. It’s small beer for Lloyds.
That’s so true, Curve is throwing in the towel.
There’s gonna be haircuts of 80-90% on the later round valuations.
No one will be in profit, even the early rounds are loosing money at this price.
Would have been better if it went bust for loss relief, the only person or people gaining are the guy who started it, and the staff given free shares.
Bend it while you can…
Sky News has learnt that Lloyds Banking Group is in advanced discussions to acquire Curve for a price believed to be up to £120m.https://news.sky.com/story/lloyds-banking-group-in-talks-to-buy-digital-wallet-provider-curve-13395702
JDB will be in for a windfall as I believe he was one of the early investors?
Even early investors will be taking a big haircut at the figures being banded around.
Later round’s investors will be 80-90% haircut, they would have been better off if it went bust and claimed loss relief.
Am curious though why Lloyds would be throwing good money after bad. Surely they see something in these products?
Maybe the BNPL product?Lbg will be after any tech ip that they have with the likes of the Apple Pay competitor.
It’ll be stripped and killed off.
I think this will be the first of many purchases by banks, chip, Anna, Currensea and many other small players will start getting bought up.
That equates to around 0.7% of LBG’s annual revenue and would be written down over a number of years so it’s insignificant.
As someone highly invested in LBG I really don’t want them to be associated with such a toxic product which has such appalling customer service and no regard for its customers as Curve does.
However for a technology purchase and where 99% of the staff are let go, it would make commercial sense at that level.
Oh well. Better milk it while it lasts then
They want the tech not the product. The brand Curve will cease existing instantly. A brand like Lloyds Banking Group aren’t going to be associated with anything as shady as Curve. A sad time for all of us, unfortunately.
How much notice do the Curve Ts and Cs give for change in benefits or closing the account? I was just about to open an account and do a few months on Metal on the basis it’s worth it for my HMRC bill, but it won’t be if it’s cancelled soon.
Don’t think you’ve got anything to lose. Any sale isn’t going to complete overnight, and should any accounts be closed pro-rata refunds would apply if appropriate so you’d only be paying for months that you had already benefited from.
How much notice do the Curve Ts and Cs give for change in benefits or closing the account? I was just about to open an account and do a few months on Metal on the basis it’s worth it for my HMRC bill, but it won’t be if it’s cancelled soon.
If you are going to use it for less than 10 months out of 12, it’s better to pay monthly anyway.
I have been upgrading and downgrading every month and despite the T&Cs saying they reserve the right to limit this, I haven’t had a problem. If I don’t need to use it for 2 weeks, then why pay the fee for that period and so on
Just saw this from an email about Curve Flex:
“Use Fronted to earn rewards or split payments – even where credit cards aren’t accepted – via a one-time debit card linked to your credit card that resets automatically after each purchase.”
Can anyone with the Curve Credit card confirm this feature?
Thanks
Can confirm. Fronted has appeared in a month old credit card type account, even without activating Flex.
For a free account it says a 2.5% fee may apply. Is there any free allowance for the paid for plans?
Did you get an answer to this? I want to know too. Any way to get an included allowance?
Actually looks like this I think
That’s £/€1000 on the Pro plan and £/€3000 on the Pro+ plan. The free and X plans have no fee-free limit. A 2.5% fee applies per Fronted transaction when outside limits. You’ll always see this fee upfront in the app.
Hi, I was also in the same boat at the original poster. ie my card was changed to a credit from a debit at card expiry. I also contacted them and ‘signed’ a letter so they could suspend my ‘credit agreement’ of which i also had no knowledge. They then reissued me with a debit card. I’ve now been advised that they have a workaround to fronted, discussed above, and they are reissuing me with a credit card…. Is anyone else in this boat, I don’t want the credit card version.
If I have no option but to have the credit version, can this still be used for ATM withdrawals, does anyone know?
Thanks
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