Curve Introduces Fee-free Card Spending Abroad

Curve Introduces Fee-free Card Spending Abroad

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Curve is UK fintech company started in 2015 that provides a smart card and app that lets you aggregate and handle all your bank cards in one place, making it easier to manage spending while also gaining various benefits. It is not a bank, but its service is based on an e-money background.

Curve is an excellent choice if you use many different bank cards but don't want to carry all of them everywhere. It will not replace your bank, but could replace all your bank cards. Curve supports cards of many currencies and also follows fee-free foreign spending, while useful additional feature are being added continuously.

There is no currency exchange fee for spending with Curve in a currency other than that of your payment card for up to £500 per rolling 30-day period. However, above this limit the fee is 2%. There is also a weekend exchange rate surcharge, which is 0.5% for conversions between GBP, USD and EUR, and 1.5% if it involves any other currency.

Since Curve is not a bank, but an app and a spending/ATM card that lets you handle all your cards in one place, it does not offer many banking features available at other digital banks, only some limited ones, although it is working on adding various features:

Curve; the Mastercard debit card that allows you to link all of your cards, to enable you to switch between spending on them all, but from the convenience of one place. Curve describes itself as the banking version of Netflix and Spotify by combining all of your cards into one smart card. Curve was founded in the UK in 2015 by Shachar Bialick, 'a serial entrepreneur' who has won many industry awards and is regularly featured in The Sunday Times, CNN and Bloomberg.

Once you start spending, Curve has a feature that allows you to get instant notifications, and like the other mobile banks such as Revolut and Monzo, you get a categorised breakdown of your spending across all of the cards loaded onto your curve.

Curve allows you to spend on any of your Visa or Mastercard cards whilst abroad and does not charge any additional fees for doing so unless you exceed the set spending limits. If you are a Curve basic account holder you can spend abroad fee-free up to £1,000 and if you exceed this limit you will be charged a 2% fee. The fee can increase by up to 1.5% at the weekends depending on the currency you are using. If you have a Curve subscription plan you can get higher limits when spending abroad and we cover this in more detail below.

When you are travelling with Curve you can get instant notifications in both the local currency and your usual currency while abroad so you can keep track of what you are spending on the go. Curve also uses the interbank exchange rate so when you spend with Curve you avoid the unnecessary fees that banks usually charge. You can use Curve to withdraw cash at any ATM that accepts a Mastercard however limits do apply. You can find more information on Curve limits and restrictions here.

If you want to have a better understanding of where you are spending your money and like the idea of simplifying your spending whilst also limiting the number of cards you need to take with you, then Curve is for you.

The 'no hidden fees' overseas spending feature is especially handy as it is easy to get caught out when travelling and the fees can easily mount up. The feature that allows you to lock the card is useful as ensures you keep your other cards safe and eliminates the annoyance of having to call the bank, which is brilliant if you are abroad.

However, you can use Curve to spend abroad on your credit card with no fees to withdraw cash or make purchases. Some limits do apply but this may make Curve appealing to some. If you prefer to spend on your credit card when abroad, we compare some of the best travel credit cards in our article, 'Compare the best travel credit cards in the UK'. 2b1af7f3a8