You can use your Kerv ring to make payments anywhere in the world that accepts contactless payments - at last count this was around 38m locations but it’s set to rise to 44.6m locations in 2017. In 2012, this was just 6.7m locations, so contactless is growing rapidly across the globe.

Your Kerv ring (and account) are set to your home location - we’ll use the UK for the purpose of this example.

Any transactions within the UK are free i.e. at coffee shops, restaurants, or supermarket. If you make a payment of £20, only £20 will be deducted from your account balance.

If you go on holiday to Europe, then you can still use your Kerv ring to make contactless payments. But how much will that cost ...and how does it compare to other cards?

Make a payment of €20 abroad

With a high street bank* issued debit or credit card the amount you pay will be based on 3 factors:

  1. Exchange rate i.e. what is the interbank rate plus the banks own margin
  2. Non sterling transaction fee: 2.99% of the value of the transaction
  3. Non sterling cash purchase fee of £1 per transaction

With Kerv, you only pay the transaction at our exchange rate for the day - there are no additional fees

How does Kerv compare to LLoyds Bank?


Lloyds Bank


Exchange rate



Transaction fee



Purchase fee



Total cost for €20



Interbank exchange rate on day of example: 1:1.3598


While 85p may not seem like much, it certainly adds up when you make multiple transactions, as the table below illustrates:

Number of transactions

Lloyds Bank


Saving with Kerv

1 x €20

£ 16.15

£ 15.30

£ 0.85

10 x €20

£ 161.53

£ 153.02

£ 8.51

20 x €20

£ 323.05

£ 306.04

£ 17.01


Other things to remember

  • You can load your Kerv account for free with a debit card, or bank transfer - even if you are abroad when you initiate the load via your app, website or auto top-up feature.
  • You have the option of requesting a physical chip and PIN card that is connected with your Kerv ring - either if you expect to make larger transactions when abroad, or simply as a back-up.
  • Unlike specialist travel currency products, you can use any funds on your Kerv account back in your home country without additional fees or exchange rate conversions.


So we hope that you will find Kerv as attractive to you when abroad, as when you do at home!


All the best




Exchange rate correct as at 21st October 2015
*Specific fees are shown for Lloyds Bank, though main high street banks (Natwest, Barclays, HSBC, RBS) and others operate similar approach
Charges with Lloyds Bank Visa debit card correct as published on

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22 Oct 2015

Further information

Contact Philip Campbell

Desk: +44 (0) 844 502 0452