Curve Payment Card Review and Comparison, The Sole Card You Should Carry in Your Wallet

Curve Virtual Payment Bank Account Opening For Business 

Curve is a card included in a service provided by Curve, a British-Irish fintech. It enables users to link various cards to the app through a single "card". Curve facilitates affordable transactions while abroad. Depending on the chosen plan - Curve Blue, Black, or Metal - the card may be complimentary or have varying payment and ATM withdrawal limits in Poland and other countries.

Payment cards serve as a medium for utilizing your personal funds, which are either in your bank account or provided by the bank within the credit card's limit. In essence, they represent a form of digital money. Typically, when you opt for a bank account, you receive a complimentary card linked to it, simplifying the management of your funds through cashless transactions at stores and businesses. The range of payment cards includes popular debit and credit options, as well as prepaid cards that are loaded with a specific amount. So, what exactly is the Curve card within the spectrum of payment card types? What are its primary uses?

What is the Curve card and its functionality?

The Polish National Bank reports that as of 2021, Poles possess over 44 million payment cards in their possession. Furthermore, a report on payment card transactions by the central bank reveals that by the end of the second quarter of 2021, Poland had recorded the highest number of payment cards in its history, with 44.3 million, an increase of one million from the previous quarter. A staggering 92.9% of all transactions were conducted without cash.

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In their wallets, nearly every Pole carries at least one payment card, each with unique features and associated costs for account maintenance and transaction fees. Curve offers a solution that allows you to consolidate all your payment cards into one, making it easier to manage various accounts. This is made possible by Curve – a truly innovative service.

Curve is a fintech entity originating from the United Kingdom, founded by British and Irish individuals. It provides a mobile application and a payment card named Curve. The name "Curve" in Polish translates to "arc" or "curve". Curve acts as a bridge between traditional banks that issue cards to accounts and the individuals making payments. The mobile application for Curve was launched in 2016 and is currently in the process of further development.

Curve requires a specific application for its proper functioning – one that is clear and user-friendly. While Curve in Poland is not available in Polish, even basic knowledge of English is sufficient to navigate the application and utilize its services.

This card is a tangible version. It's provided by the Mastercard payment group. At a glance, it appears similar to other credit or debit cards made of plastic. It holds information and features like:

• card number,

• expiration date,

• holder's details on the back of the card,

• electronic chip,

• magnetic stripe,

• hologram,

• sign indicating it's compatible with contactless payments.

The main feature of the Curve card is its independence from a single account or multiple accounts. To get one, you don't need to open a personal account or request a technical account for card transactions. So, how does it function? Transactions made with the Curve fintech card are settled from the account associated with the bank-issued debit or credit card that the user has added to the Curve application. To make this happen, you must select the appropriate card as the one to cover the cost of purchases or services at a specific time.

In real life, the Curve card simplifies the use of one "plastic" card without the need to carry several different cards in your wallet. All you have to do is link them to the Curve app. Additionally, the fintech service allows for payments in any of the 150 supported currencies, with rates that are quite appealing.

You don't have to fret about high fees for converting currencies when using your Curve card abroad, for example, for airfare or dining at a restaurant. If you connect your bank-issued card to your PLN account in the Curve app and use a physical Curve card to make a payment abroad, the exact equivalent of the payment will be deducted from your account, converted to Polish złoty. The interbank rate will be applied, and no currency spread will be charged. This is because the Curve fintech company handles the currency conversion directly. Thus, the bank doesn't have to carry out this costly task from the customer's end.

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What does the Curve app and card provide?

The Curve app offers the benefit of free ATM withdrawals both in Poland and abroad, with transaction limits varying by the type of Curve card you choose – Blue, Black, or Metal.

Moreover, you're not charged for the Curve card within the basic package, and the app that supports it lets you add any number of cards, including those issued by the bank and paid within a set credit limit. To add a card for transactions where the specified card will be used, you need to activate the Curve Fronted feature in the app's settings. It's important to note that a 1.5% commission is applied to all transactions made from the card linked in the app, regardless of whether you choose the Curve Metal option.

Curve offers the unique ability to go back in time – in fact, this feature is quite intriguing as it allows you to switch the card used for a transaction in the app up to 30 days after the purchase. The catch is that the card's value must not exceed £5,000. This feature distinguishes Curve's financial technology from others. Should you wish to change the card used for a payment, you can do so in the Curve app through the "Go Back in Time" function.

You have the option to designate a secondary card, known as an emergency card, which will take over if there are any issues with the primary card selected in the app. To establish this backup card, select the Anti-Embarrassment Mode function in the Curve app settings, which translates to "anti-embarrassment mode".

The Curve app also introduces a secondary card for each user called Curve Cash. This virtual prepaid card, held in British pounds, is used for collecting funds from moneyback. Within the app, you can choose the Curve Cash card as the primary payment method as long as there are enough funds available. This card will also receive refunds for purchases made under the bonus program.

Another appealing feature of the Curve app is the ability to connect the Curve card with loyalty cards from stores and service points that issue them. This is possible as long as the store or service point, the issuer of the loyalty card, is listed in the app. Examples of such stores include Biedronka or Żabka. Cards linked to loyalty programs are shown in a dedicated tab – "Loyalty" in the "Wallet" menu.

Curve Flex enables deferred payments, allowing you to spread out your purchases over time. To take advantage of this, simply sign up for the waiting list. This feature allows for interest-bearing payments over periods of 3, 6, 9, or 12 months, and payments can be made using a card linked to Curve.

How to Begin Using Curve?

To begin using Curve, the initial step is to download the Curve application from either the Google Play Store (for Android devices) or the App Store (for iPhones and iPads). The app is titled “Curve: one card for all.” After downloading, you'll need to set up your account.

Once your account is established, you're ready to start using Curve. How do you activate your Curve card? You can add it to the app before it even arrives in the mail from the fintech. Simply navigate to the "Wallet" section and select the card icon in the upper right corner. Then, click "Add New Card" and fill in the card details you wish to add. You can allow the app to access your camera, take a photo of the card, and Curve will scan the necessary information to complete the process.

It's important to note that when adding a new card, the Curve application will deduct a small amount from the assigned account, which will be promptly refunded. This is for verification purposes and to ensure the transaction title appears in the bank's transaction system, allowing it to be recorded in the Curve application. Following successful verification, the card will be added to your virtual wallet.

You'll receive your Curve card in a stylish envelope via mail, with shipping expected within approximately 7 days. Once you've received your Curve card, activate it through the app and you'll be able to start using it.

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How to Register for a Curve Account? A Step-by-Step Guide

Registering a new customer on Curve is a straightforward process. Once the application is downloaded, you'll need to provide an email address, which will be used to send a link for account registration. This link will direct you to the registration page within the app, where you should complete a few steps:

• Enter the required information: mobile phone number, first name, last name, date of birth, and address;

• Set a PIN for your Curve card and the app;

• Select the desired version: Curve Blue, Curve Black, or Curve Metal;

• Enter your shipping address for the Curve card.

It's common for the account setup process in the Curve app to require identity verification. This is achieved by submitting photos of your ID and a selfie.

What is the Cost of a Curve Card?

The cost of using a Curve card varies depending on the fintech provider you choose. Here are the options:

• Curve Blue,

• Curve Black,

•  Curve Metal.

Only the last two options require a monthly fee for card usage.

The Curve Blue card is completely free to use. It's a great option for beginners to explore the features of this payment method and app. It suits the needs of most users. With the Curve Blue plan, you'll get a complimentary card for making purchases at stores and services, both in-store and online. Plus, you have the flexibility to use any of the available currencies for your transactions without any extra charges, meaning you won't have to worry about currency conversion fees or commission charges.

For international transactions, a 2% fee is charged once the total exceeds £500 per month. However, the Curve Blue card doesn't levy any fees for withdrawing cash from both local and international ATMs, as long as the limit isn't exceeded. You're allowed 10 free withdrawals each month, with an additional £0.50 fee for every extra one. When it comes to withdrawing cash from ATMs abroad with the Curve Blue card, you won't pay any fees if your total doesn't go over £200 per month. Beyond that, Curve will charge a 2% fee on the transaction amount, with a minimum of £2.

The Curve card's free version doesn't stop there. There's also a premium version, Curve Black, which offers:

• A monthly fee of 9.99 euros or 150 euros for an annual payment.

• A limit of £15,000 for free international transactions beyond the monthly

•  limit, with a 2% commission charge.

• A restriction of 10 free ATM withdrawals in Poland.

• A limit of £400 for free ATM withdrawals abroad.

The Curve Black card comes in three colors.

• It's designed for users who make a lot of international transactions, with a limit of up to £60,000 per year without any fees.

• A limit of 10 free ATM withdrawals in Poland.

• A limit of £600 for free ATM withdrawals abroad.

• Comes with travel and phone insurance, and access to airport lounges.

When it comes to freezing money in a bank account, it involves placing a hold on the funds, which can last for a certain period. The duration of this freeze can vary depending on the bank's policies.

Is the Curve card secure?

Indeed, the Curve card is secure as long as you make purchases at stores and service locations, or withdraw cash from ATMs both within Poland and internationally. As always, it's advisable to exercise common sense and caution when utilizing this payment method.

Regarding the Curve app, there's no account where you can accumulate funds. The Curve Cash card associated with the app doesn't actually hold any active funds, as they are stored in the form of points. Each point is equivalent to £1.

How to safeguard your funds on a card linked to a fintech app if it's lost or stolen? In such situations, the thief can only use the bank card specified in the app at a particular time. You'll be notified about any unauthorized transactions via PUSH notifications on your phone. You have the option to block the Curve card, and this block is temporary, which can be done through the Curve app using the "Lock Card" feature in the "Settings". Additionally, you can remove cards previously added to the app and prevent the withdrawal of funds from them.

Another layer of protection is the ability to recover lost funds from a stolen Curve card through the Mastercard Chargeback process.

It's important to note that, in accordance with the security guidelines for using the Curve card, the fintech automatically sets transaction limits that can be adjusted. These limits typically include:

• £2,000 per day for card transactions;

• £200 per day for ATM withdrawals.

Curve Card –Advantages  and Disadvantages 

Utilizing the Curve card and app offers numerous advantages. It's up to you to determine which benefits you find most valuable and which ones you truly need. Review the pros and cons of the Curve solution to help you decide if it's the right fit for you.

Advantages	Disadvantages
A digital wallet that allows you to link your payment cards, eliminating the need to carry them around.	A fee is charged for international payments made on weekends.
The opportunity to take advantage of the Curve Blue card's free offer.	No support for Google Pay, Apple Pay or the 3DSecure standard
The ability to utilize the cashback and moneyback features.	A limit on payments in foreign currencies (for the Curve Blue card).
The chance to recover funds in the event of theft through the Mastercard Chargeback service.	A limit on withdrawals at foreign ATMs without incurring a commission
The opportunity to benefit from the promotion for setting up the Curve application, which is activated after the first transaction.	A limit on free ATM withdrawals within the country (10 withdrawals per month).
The possibility to make payments abroad without facing high currency conversion fees.	It's not possible to alter the card's PIN through the app.
The option to reverse completed transactions.
Option to use installment payments
PUSH notifications for completed transactions
Easy to use application

What to Consider When Selecting a Curve Card?

Should you opt for a Curve card and intend to utilize it for international transactions. The Curve Black and Curve Metal options offer complimentary transaction limits, exempting you from a 2 percent commission. However, there's a caveat: a commission is applied for transactions conducted on weekends, defined as the period from 11:59 p.m. Friday to 11:59 p.m. Sunday. The applicable commission rates are:

• 0.5 percent for payments in euros, US dollars, and British pounds;

• 1.5 percent for payments in other currencies;

• This additional fee is tacked onto the standard commission.

It's also important to note that withdrawing cash from an ATM with a Curve card incurs an extra fee from the bank, regardless of whether you're using a Curve card or not. Be wary of Euronet ATMs that classify your Curve card as a foreign card, subjecting you to an extra fee. Transactions made with a Curve card, even if the issuing bank is Polish, may be interpreted by financial institutions as international payments due to transaction details often including "London".

Additionally, there's a specific limit for credit card withdrawals via the app, with the total amount of these transactions being tallied each month. If the total exceeds £200, a 2 percent fee is charged on the amount over the specified limit.

Curve Card – Is It a Good Investment? Customer Feedback

The Curve card solution is intriguing, with the fintech aiming to simplify the process of using various payment cards. You don't have to carry multiple cards with you, concerned about losing them or having them stolen. The main benefit of the Curve card is its versatility, acting as a single platform to manage various cards, whether they're debit, credit, or currency cards. Customer reviews for this card are overwhelmingly positive.

Curve vs. Revolut: Which is Better?

Fintechs Curve and Revolut share many similarities, making it challenging to decide between the two. What sets Curve apart from Revolut? Curve offers a simpler application, allowing you to create sub-accounts in different currencies and link your existing cards. Unlike Revolut, you don't need to top up your Curve account with external funds for transactions.

The Curve card facilitates both payments and ATM withdrawals, whereas Revolut also provides the option to purchase foreign currencies.