Curve Review – Is it the best way to combine all your cards?

Curve* is a budgeting app that allows you to link all of your cards in one place and spend from one single card. It can be used for both spending in the UK and abroad and customers can benefit from reduced foreign transaction fees when spending with Curve compared to most traditional high street banks.

In this independent review, we take a look at how Curve works, its key features, how much Curve costs and how it compares to alternative budgeting apps and app-only banks such as Wise* and Starling*.

What is Curve?

Curve* was founded in the UK in 2015 by Shachar Bialick, 'a serial entrepreneur' who has won many industry awards and has been featured in The Sunday Times, CNN and Bloomberg.

Curve launched in beta in 2016 and by 2018 had expanded into Europe, amassing 250,000 customers who collectively spent over £500 million using the innovative smart card. Since then Curve boasts that over 4 million people now spend with the Curve card.

It has received investments from Santander InnoVentures, Investec, Oxford Capital and Breega Capital. Other Curve investors include Taavet Hinrikus (TransferWise CEO & co-founder) and Ed Wray (Betfair co-founder).

Curve Features

• Use your Curve card worldwide - Curve can be used anywhere that accepts a Mastercard
• Instant alerts - get instant spending notifications
• Spending categorisation - colour-coded categories to help you make sense of your spending
• Go back in time - switch card purchases if you have paid on the wrong card and 'Go back in time' up to 120 days for purchases (depending on the Curve Plan)
• Curve cash - earn 1% cashback with up to 6 retailers (with certain paid plans only)
• Apple/Samsung/Google Pay - pay with Curve using your smartphone
• Fee-free spending abroad - save on hidden bank fees when spending abroad with Curve (limits apply)
• Anti-embarrassment mode - set up a backup card that Curve will automatically use if a payment declines
• Loyalty cards - add all of your loyalty cards such as your Tescos Clubcard to your Curve app so you don't have to carry multiple rewards cards around at any one time
• Free ATM withdrawals abroad for subscription plans - withdraw up to £1,000 every 30 days fee-free whilst abroad, 2.5% fee thereafter (free limits vary depending on plan but there are no free limits with the free Curve card)
• Fee-free spending abroad - spend £250 abroad fee-free every 30 days using the interbank exchange rate (a 2% fee is applied thereafter) higher limits are available with Curve subscription accounts
• Curve Fronted - make HMRC payments or pay credit card bills with another credit card within the Curve app (2.5% fee applies to Curve Pay and Curve Pay X cardholders and Curve Pay Pro and Pay Pro+ cardholders are charged the fee after a set limit)
• Curve Flex - get a refund for a transaction and spread the cost over 3-12 monthly instalments with Curve's take on Buy Now Pay Later (BNPL)

How does Curve work?

In order to use Curve, all you need to do is download the app via iTunes or Google Play and it is within the app where you can order your new card.

Once downloaded, you are asked to enter an email address where you have the option to be sent a magic link or use a password.

If you select 'Use Magic Link' and open the link via email then you will automatically be logged into the app. Upon opening, you have the opportunity to add the cards you would like to use with the Curve card. You can add any Visa or Mastercard card and you can do this by simply scanning your bank card or by entering the card details manually.

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 Cards

There are 4 different types of Curve cards and the benefits, features and charges are listed in the table below.

	Curve Pay	Curve Pay X	Curve Pay Pro	Curve Pay Pro+
Monthly Cost	FREE	£5.99	£9.99	£17.99
Free Card Delivery	£5.99	FREE	FREE	FREE
Minimum term	Not applicable	Not applicable	Not applicable	6 months
Payment card limit	3	5	Unlimited	Unlimited
Card delivery fee	£5.99	Free	Free	Free
Curve Cash - 1% cashback	NO	NO	1% cashback with 6 selected retailers	1% cashback with 12 selected retailers
Fee-free spending abroad (every rolling 30 days)^	£250 then a 2.5% fee	Up to £1,000 then a 2.5% fee	Up to £2,000 then a 2.5% fee	Unlimited (fair use of £5,000) then a 2.5% fee
Fee-free currency conversion ATM withdrawals abroad (every 30 days)^	2.5% fee or £2 whichever is higher	Up to £300 then 2.5% fee or £2 whichever is higher	Up to £500 then 2.5% fee or £2 whichever is higher	Up to £1,000 per rolling 30 days then 2.5% fee or £2 whichever is higher
ATM withdrawals	2% fee or £2 whichever is higher	Up to £300 per rolling 30 days then 2% fee or £2 whichever is higher	Up to £500 per rolling 30 days then 2% fee or £2 whichever is higher	Up to £1,000 per rolling 30 days then 2% fee or £2 whichever is higher
Go back in time	3 transactions on purchases made up to 30 days prior per 30 day rolling period	3 transactions on purchases made up to 60 days prior per 30 day rolling period	Unlimited transactions on purchases made up to 90 days prior	Unlimited transactions on purchases made up to 120 days prior
Smart rules	Up to 2 rules	Up to 5 rules	Unlimited rules	Unlimited rules
Curve customer protection	YES	YES	YES	YES
Loungekey airport access	NO	NO	NO	YES

^If spending or withdrawing money at the weekend Curve will take the rate from the last day the market was open (usually Friday 23:59) and apply a surcharge of 1.00% for any other currency that is not GBP, USD or EUR 

Can Curve be used abroad?

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 £250 and if you exceed this limit you will be charged a 2% fee. The fee can increase by up to 1.00% 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 in the table above.

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 below.

Curve spending limits

Curve currently has limits set on how much you can spend in a day/month/year. For the average spender with a standard (free) card these shouldn't be an issue but could cause problems if you are planning to buy something expensive, e.g. a holiday. 

Curve starting spending limits (prior to identity verification):

• £200 cash withdrawal a day
• £500 spending limit a day

Curve standard spending limits (following successful identity verification):

• £200 cash withdrawal a day
• £7,500 spending limit a day

Curve warns that as a new customer you may not initially qualify for the spending limits above and may therefore have the starting spending limits. Curve insists its limits will increase over time 'as you cultivate a spend history with us and pass our account risk checks.' Curve Pay Pro and Curve Pay Pro+ users may have higher limits and these are detailed within the account section of the Curve app.

How much does Curve cost?

In the below comparison table, we list the fees payable on a Curve card.

Curve fees

	Curve Pay	Curve Pay X	Curve Pay Pro	Curve Pay Pro+
Monthly subscription fee	£0	£5.99	£9.99	£17.99
Card delivery fee	£5.99	£0	£0	£0
Minimum subscription term	No minimum	No minimum	No minimum	6 months
Replacement card	£5.99	£5.99	1 free replacement then £5.99	1 free replacement then £59.99
Cancellation fee within 14 day cooling period	£0	£0	£5.99	£59.99
Cancellation fee after 14 day cooling period	£0	£0	£0	£59.99 if cancel within first 6 months
ATM withdrawals	2% fee or £2 whichever is higher	Up to £300 per rolling 30 days then 2% fee or £2 whichever is higher	Up to £500 per rolling 30 days then 2% fee or £2 whichever is higher	Up to £1,000 per rolling 30 days then 2% fee or £2 whichever is higher
ATM currency conversion withdrawals abroad	2.5% fee or £2 whichever is higher	Up to £300 then 2.5% fee or £2 whichever is higher	Up to £500 then 2.5% fee or £2 whichever is higher	Up to £1,000 per rolling 30 days then 2.5% fee or £2 whichever is higher
Foreign purchases currency conversion fee^	£250 per 30 rolling days then a 2.5% fee	Up to £1,000 per 30 rolling days then a 2.5% fee	Up to £2,000 per 30 rolling days then a 2.5% fee	Unlimited (fair use of £5,000) then a 2.5% fee
Curve fronted^^	2.5% of transaction amount	2.5% of transaction amount	Free for first £1,000 per rolling 30 days then 2.5% of transaction amount	Free for first £3,000 per rolling 30 days then 2.5% of transaction amount

^If spending or withdrawing money at the weekend Curve will take the rate from the last day the market was open (usually Friday 23:59) and apply a surcharge of 1.00% for any other currency that is not GBP, USD or EUR 

^^Only available via Curve's debit cards. 

Curve Flex

Curve Flex is a Buy Now Pay Later offering from Curve. You can get a refund for a previous transaction of up to 12 months prior, which can then be spread over a period of 3, 6, 9 or 12 months. The first payment on the instalment plan will be due 30 days after the refund of the original transaction. Curve states that those using Curve Flex could be charged 'as little as 14% APR'.

All personal Curve cardholders can use CurveFlex but this is subject to rigorous credit and affordability checks. Curve checking your affordability and creditworthiness will not affect your credit score but setting up an instalment plan will result in a hard credit search and could therefore impact your credit score.

Is Curve safe to use?

Curve is regulated by the Financial Conduct Authority (FCA) so your data will be protected by the security regulations in place by the FCA. It also doesn't share your bank card details with any retailers during transactions. Additionally, within the app you have the functionality to lock your card should it be lost or stolen, offering extra security.

Am I protected by section 75 with Curve?

You won't be protected by Section 75 if you use Curve's debit card. However, you may be protected by Curve Customer Protection and may be able to raise a chargeback if the items you received are damaged or not as described.

If you use one of Curve's credit cards, then you will be covered under Section 75 if you make eligible purchases. Credit card purchases are covered by Section 75 of the Consumer Credit Act, giving you added protection and the ability to claim and get your money back. If you have any concerns over a purchase, particularly higher-value purchases, it is worth purchasing directly with a credit card.

Curve Customer Reviews

Curve has received over 11,000 reviews with an average rating of 3.1 out of 5.0 stars on Trustpilot. About 19% of the reviews rate it as 1 star and those who scored low tended to comment on an issue with their response time and customer service. 62% of customers have rated the card as 'Excellent' and there are comments on great customer service and that they like the ability to only need to carry one card around with them at any time.

Alternatives to Curve

In this section of the review, we compare Curve to its competitors.

Curve vs Revolut vs Starling vs Monzo

The below comparison table compares the free basic Curve account to its competitors' basic accounts. For more information on the competitors mentioned in the below table, read our independent reviews:

• Revolut review
• Starling Bank review
• Monzo Review
• Wise Review

	Curve*	Revolut	Starling*	Monzo	Wise*
Monthly cost	FREE	FREE	FREE	FREE	FREE
Fee-free spending abroad (limits may apply)	YES	YES	YES	YES	YES
Free ATM withdrawals abroad	2.5% fee or £2 whichever is higher	up to £200 per month (or max 5 withdrawal limit)	YES	up to £200 per 30 days outside EEA or up to £250 per 30 days within EEA	2 withdrawals per month (up to £200) then £ 0.50 GBP + 1.75%
Go Back in Time	YES	NO	NO	NO	NO
Categorised spending	YES	YES	YES	YES	YES
Buy Now Pay Later	YES	NO	NO	YES	NO
UK registered bank account	NO	NO	YES	YES	NO
FSCS protection	NO	NO	YES	YES	NO

 

Pros & Cons of Curve

Below, we outline some of the pros and cons of using Curve.

Pros of Curve

• Easy to use & navigate app
• Basic card is free
• Allows you to carry all of your cards in one place
• Can use cards in places where they aren't usually accepted, as payment is through the Curve Mastercard debit
• No hidden fees abroad

Cons of Curve

• Limits on spending and cash withdrawals could cause problems
• Everything is on the app so will need wifi or data access to change your card over
• Advisable to take an additional card with you as payments can sometimes be declined before a spending history is built up (almost defeats the entire object of the card)
• No FSCS protection

Summary

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. Curve has recently updated its fees and limits for spending with the free Curve card becoming less desirable for spending abroad when compared to its competitors and so you may benefit from another card if you plan to spend a lot while away. The feature, however, 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.

Being able to flip between multiple cards is clearly Curve’s main selling point and so those that don’t hold multiple cards may want to look at other mobile banking apps such as Monzo, Revolut and Starling Bank*. They allow you to spend abroad with little to no fees and have the same instant spending notifications, so it is hard to see where Curve stands out above them. Our article, 'Best ways to take money abroad' has a breakdown of the different ways to take money on holiday and allows you to easily compare the differences between the different cards.

It is worth considering, however, that you can use Curve to spend abroad on your credit card with no fees to 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'.

 

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