What are FX fees (and how to avoid them)
If you’ve ever used your bank card abroad or shopped online in a different currency, you’ve likely come across an invisible money drainer: FX fees. These hidden costs can quietly eat into your holiday budget or inflate the price of that overseas online purchase — but what exactly are FX fees, and how can you dodge them?
Let’s break it down.
What Are FX Fees?
FX fees, short for foreign exchange fees, are charges you incur when you spend in a currency different from your card’s base currency (usually your home currency). They’re typically made up of two parts:
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The Exchange Rate Markup: Most banks don’t give you the real, mid-market exchange rate. Instead, they add a markup — often around 2-3% — on top of the rate.
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Additional Bank or Card Fees: Many banks also tack on an extra fee (often 1-3%) just for processing the foreign currency transaction.
In total, you could be paying up to 6% more on every overseas transaction without even realising it.
Use Curve to make FX fees disappear
Curve is a smart digital wallet that combines all your cards into one and gives you powerful tools to manage your money better, including a Killer FX feature that does what it says on the tin – kills FX fees. So you can essentially use any card abroad without even thinking about being charged. How doe it work? You just link your debit and credit cards to Curve. Curve will then act as your whole wallet in one global fee-free card.
There are many ways to pay with Curve:
- Physical Curve Pay card
- Virtual Curve Pay card added to your mobile wallet
- Curve Pay on Android (coming soon to iOS)
Why 6 Million+ have swapped their traditional wallet for Curve
1. 0% FX Fees Abroad
With Curve, you get the real exchange rate — no hidden markups or surprise fees. Curve uses the Mastercard exchange rate, which is very close to the rate banks use to trade between themselves. It’s always more favourable than rates offered by traditional banks, and often beats rates by fintechs like Wise and Revolut. Check out the currency converter to see for yourself.
Depending on your Curve plan, you can spend abroad fee-free up to a certain limit:
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Curve Pay (free plan) : Up to £250/month fee-free FX
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Curve Pay X : Higher monthly limits or no limits at all
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Curve Pay Pro: Unlimited fee-free FX spending
- Curve Pay Pro+: Unlimited fee-free FX spending
So whether you're shopping in Paris or paying for sushi in Tokyo, Curve helps you keep more of your money.
2. All Your Cards in One Smart Wallet
Curve lets you connect all your debit and credit cards into one card and app. When you spend in another currency, Curve takes care of the conversion — so even if your underlying card charges FX fees, Curve doesn’t let them.
3. Go Back in Time®
Made a payment on the wrong card while abroad? With Curve’s unique Go Back in Time® feature, you can switch the transaction to a different card up to 30 days later — super handy if you want to move an FX transaction to a card with cashback or rewards.
4. No More Travel Cards
Forget juggling multiple travel cards or exchanging cash before your trip. With Curve, you can use your existing cards abroad — minus the FX fees.
Stop getting hit with FX fees
FX fees are one of those silent money leaks that most people don’t think about — until they check their statement. With Curve, you can ditch the hidden costs, get access to the best exchange rates, and spend abroad with total confidence.
