Curve uses a wholesale rate to convert your currency when you make a transaction abroad. This means you will be making a transaction at the rates that banks use in order to exchange money between them, which is also known as the interbank rate. This rate is refreshed every hour so it will change when compared to a rate that is only updated once a day (like the MasterCard rate).
There are the following caps and fees:
Curve Blue (free product): 0% fee on spend in over 150+ foreign currencies worldwide of up to £500 per rolling month, with a 2% foreign exchange fee after that. ATM withdrawals are free up to £200 per rolling month, after which there will be a charge per extraction of £2 or 2%, whichever is higher.
If you are a frequent traveller, our Curve Black or Metal products might be better suited to you:
Curve Black: 0% fee on spend in over 150+ foreign currencies worldwide (subject to fair use policies above £15000 per rolling year). ATM withdrawals are free up to £400 per rolling month, after which there will be a charge per extraction of £2 or 2%, whichever is higher.
Curve Metal: 0% fee on spend in over 150+ foreign currencies worldwide (subject to fair use policies above £60000 per rolling year). ATM withdrawals are free up to £600 per rolling month, after which there will be a charge per extraction of £2 or 2%, whichever is higher.
Weekend rates: In case of withdrawals or purchases over the weekend using an underlying payment card set to a different currency than the transaction, we will use the rate from Friday at 23:59 and apply a surcharge (as the Forex markets are closed). For transactions where both the transaction and the underlying payment cards are in GBP, USD or EUR , the foreign exchange fee will be 0.5%. For all other currencies, the foreign exchange fee will be 1.5%.
For more information, please refer to: https://www.imaginecurve.com/terms