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  • Daiboy1980 47 posts

    Re. the cancellation.

    I am more than technically competent, the gui on curve is truly awful.

    The cancellation process, as many have mentioned, loops around to live chat. Where I am told that as a premium member I am valued, and someone will be back to me in 3-5 days.

    This never materialises.

    What would be your timescale for a company to reply to a request to cease a fee paying agreement that you no longer require?

    You do seem to be unable to see that the process is very clunky, and not appropriate for its needs.

    Consumer duty covers all financial institutions in the uk, and a follow on from the fca PRIN’s. In essence, companies should not make basic consumer actions overly complicated.

    I do not think that it is asking too much to be able to cancel a contract, that I no longer require.

    @toddy – if you were to read a few of the most recent posts, you will note that several people have been able to downgrade directly in the app. I also did this for a friend just prior to my comment so posted advisedly.

    This type of thing, whereby people either blame their own ineptitude on an organisation or trash an entire company for something very specific they have experienced is a bit of a sad reflection on modern day blame culture.

    Re Creation, if you were actually to read what I said and to read the many published FOS decisions and the court reports, I think you will find it panned out very much as I suggested. I also provided considerable help to those who were unsure of what to do or needed help with specific problems. People are very fortunate that Creation didn’t have the most recent FOS decisions to hand much earlier.

    My views as to people’s conduct that led to the closures may be controversial but that’s a totally different issue.

    The fact that a small bunch of people’s abusive activity not only got the accounts of many others closed and ultimately killed off an apparently valuable card seems to have passed you by.

    qingzi 3 posts

    @toddy – if you were to read a few of the most recent posts, you will note that several people have been able to downgrade directly in the app. I also did this for a friend just prior to my comment so posted advisedly.

    …Then surely you’d know that the downgrade function in the launchpad simply takes you to a chat bot and then having to wait for a customer support agent to respond and action the request manually?

    Or are you saying the button just worked instantly for you, and further implying that it should work for everyone else as well (without any involvement of a chat agent), if only we all just stopped being so inept and learned to follow the correct process for an account downgrade request?

    My personal experience: I requested a downgrade on 30 Nov (by clicking on the downgrade button in the app), a Jessica messaged me a couple of days later to assure me that a dedicated team is now looking into my case and will be back in touch as soon as possible. As of today I’m yet to hear back anything further.

    In my case I actually just wanted to shift my monthly subscription date and could see no way to do so than downgrading and re-upgrading later. I am at a loss to understand why Curve seems to be making this so difficult, and I suspect I will probably need to try the complaint route after waiting for a few more weeks. Am I also part of this blame culture that you are alluding to?

    Carlos 767 posts

    In my case I actually just wanted to shift my monthly subscription date and could see no way to do so than downgrading and re-upgrading later. I am at a loss to understand why Curve seems to be making this so difficult, and I suspect I will probably need to try the complaint route after waiting for a few more weeks. Am I also part of this blame culture that you are alluding to?

    Would it matter whether or not to change the date of subscription date. I presume you are using a cc and that doesn’t require to be paid for another 2-4 weeks depending on your cc cycle. Perhaps you could change that instead.. just giving some ideas

    Anyhow… there will be prob about 50% of their 4,500,000 members will be unsubscribing on 1 Jan 2024 so knowing full well of Curves incompetence they are probably just trying to make it harder for people later on when the exodus comes.

    According to fintechfutures “Curve also claims it is “on trajectory” to reach profitability by early 2024”

    Harrier25 801 posts

    According to fintechfutures “Curve also claims it is “on trajectory” to reach profitability by early 2024”

    😂 yeah right, of course it is.

    rum 275 posts

    According to fintechfutures “Curve also claims it is “on trajectory” to reach profitability by early 2024”

    I’d be interested to see what that trajectory graph looks like.

    After these recent announcements, it’s probably shaped like a vertical waterslide

    Daiboy1980 47 posts

    Looking at Trust Pilot, it appears that there are many other people who are technially illiterate and impatient.

    Looks like a mass exodus, we may be waiting a while for a reply!

    Harrier25 801 posts

    I would recommend keeping your Curve Cash balances to a minimum because they may not be protected by the FSCS if they cease trading.

    JDB 4,124 posts

    The whole point of FSCS is to cover customers if an institution ceases trading. However, e-money institutions which include Curve, Revolut etc. are not covered by the FSCS, so there’s no may not.

    When one reads these sort of comments, together with the “mass exodus”, “there will be prob about 50% of their 4,500,000 members will be unsubscribing on 1 Jan 2024” or “vertical waterslide” at least one is on notice that the posters have zero knowledge/understanding of the financial sector, regulations or Curve so can be disregarded.

    NorthernLass 6,706 posts

    @Harrier, you’ve got me worried about my £1.19 of Curve cash now! Might need to buy a Kindle book 😜

    JDB 4,124 posts

    By the way @Harrier25 are you suggesting Curve has already blown through the £58m they raised in September? What are you suggesting their current cash burn is?

    They will also now be benefitting from having shaken out the flaky customers who didn’t like the Fronted reduction. Clearly virtually none of those people either had £120k tax to pay or £120k of real spending so Curve was well shot of them.

    Daiboy1980 47 posts

    The whole point of FSCS is to cover customers if an institution ceases trading. However, e-money institutions which include Curve, Revolut etc. are not covered by the FSCS, so there’s no may not.

    When one reads these sort of comments, together with the “mass exodus”, “there will be prob about 50% of their 4,500,000 members will be unsubscribing on 1 Jan 2024” or “vertical waterslide” at least one is on notice that the posters have zero knowledge/understanding of the financial sector, regulations or Curve so can be disregarded.

    I have just finished my 3000 word paper on the impact of consumer duty and the cross over from the FCA’s 11 Principles, I think I may have an understanding on the subject matter.

    Either way, their customer service is shocking, knowledge or not!

    JDB 4,124 posts

    Well, there’s one major flaw in your paper in that there are now 12 Principles, not the 11 you cite. It might have been OK if you had referred to the ‘other’ 11. At 3000 words it sounds as though this paper might be rather prolix.

    Carlos 767 posts

    @Harrier, you’ve got me worried about my £1.19 of Curve cash now! Might need to buy a Kindle book 😜

    The only ones who should be worried are Curve investors

    JDB 4,124 posts

    @Harrier, you’ve got me worried about my £1.19 of Curve cash now! Might need to buy a Kindle book 😜

    The only ones who should be worried are Curve investors

    What information do you profess to know that should worry investors? It can’t be the Fronted changes or the removal of Metal insurance, so what is it?

    Daiboy1980 47 posts

    prolix

    Nope, no flaw in the paper. The cross over from the FCA’s 11 principles into consumer duty the aforementioned 12th principle. Not too lengthy either, needs a lot of detail to obtain a fellowship qualification.

    Harrier25 801 posts

    @Harrier, you’ve got me worried about my £1.19 of Curve cash now! Might need to buy a Kindle book 😜

    Thanks @NorthernLass You’ve made me feel better about my 25p in there now! 😂

    Harrier25 801 posts

    By the way @Harrier25 are you suggesting Curve has already blown through the £58m they raised in September?

    I’m suggesting nothing @JDB, just trying to supply, hopefully, helpful guidance to people if the worst were to happen, after reading phrases such as ‘vertical waterslide’! 😱

    Carlos 767 posts

    @Harrier, you’ve got me worried about my £1.19 of Curve cash now! Might need to buy a Kindle book 😜

    The only ones who should be worried are Curve investors

    What information do you profess to know that should worry investors? It can’t be the Fronted changes or the removal of Metal insurance, so what is it?

    A loss since inception (2016) doesnt fill anyone with confidence, despite millions in funding

    JDB 4,124 posts

    @Carlos – I think Uber has lost c. US$30bn in the last ten years and there are many similarly high profile tech start ups with huge losses yet enormous equity valuations at regular funding rounds; it’s par for the course. Revolut’s figures have been questioned, but it would appear they have lost around £350-£400m since 2015.

    Daiboy1980 47 posts

    14 days later and no reply to my request, has anyone had any luck with alternative routes to cancel?

    I have tried via – downgrade my account – chat – email

    SteveJ 989 posts

    @Daiboy1980 someone somewhere mentioned to try tweeting their social media team.

    Toaster 97 posts

    I requested to downgrade in app > chat on December 19 and chat responded today and it is done.

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