Completing a Penny Test

A Penny Test is part of the setup process of our Payments functionality. Before you can make payments, you will need to add sufficient funds on your Curve account. Any businesses based outside of the EEA (the European Economic Area) can do so instantly as per the instructions in the next step: "Top Up Your Balances". However, for businesses based within the EEA, a so-called penny test is required. A list of countries within the EEA can be found here.

To complete a Penny Test, the process is the same as that of simply topping up your Payment Balances. The difference is that, for those clients that fall within the requirements of a Penny test, you will need to top up your Payment Balance with the minimum amount possible (eg $0.01/£0.01/€0.01 or similar). This first top up is then to be approved by our financial partner, before you are then able to top up your Payment Balances fully for making payments.

Those that do not fall within the requirements of a Penny Test can simply top up their balances as they wish, without approval from our financial partner being required.

Top up your Payment Balances with the minimum amount

To get started, please go to Payments > Balances.

1. Add Currencies to your Balances

On the Balances tab, please select the Currency in which you would like to add a Balance. To eventually make Payments, you will need a Balance for each Currency that you create Statements in on Curve. For the sake of the Penny Test, just one Currency Balance is required.

2. Top Up the Balance of one of the Currencies

For just one of these Currencies, please top up your Balance with the minimum amount possible. To do so, click the "Deposit Funds" button displayed below your currency. As you click this button, you will be provided with the details of the bank account to which you can transfer your funds. You can make this payment with your preferred payment method.

Please note, for this penny test only, the Bank Account Holder Name must match the name of the business entity provided on the Setup Form in order for this transaction to be approved. It is possible that certain name suffixes (such as Territory Codes, eg Music Records Ltd GB instead of just Music Records Ltd) are automatically added to your Bank Account Holder Name by your bank, which would mean the automated test by our financial partner would fail.

Await approval from our financial partner

Once the payment has been made, we will need our financial partner to review and approve this payment. This may take up to one working day to approve. If it is taking more than one working day for your top up to be approved, please reach out to [email protected].