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Fair FX card suspended


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Whilst there are a lot less people abroad now than there would have been, us included, I have just received an e mail from Fair FX, the pre paid currency card operators. I imagine that all the others and BF do issue one themselves are in the same position. Wirecard tend to be the issuer of these cards with the Mastercard logo on them. The card is suspended from last night. Wirecard AG the German parent has collapsed amid allegations of mucho fraud. They operate in the UK as a seperate company and have to safeguard funds under FCA rules and supervision so have had funds they have access to, frozen by the FCA.

  The card issuers are trying to get something sorted out between Mastercard and Wirecard UK ..If you are outside of the uk don`t rely on it for funds at this time..

https://www.fca.org.uk/news/news-stories/requirements-imposed-wirecard-authorisation?utm_source=FairFX&utm_medium=email&utm_campaign=11639996_FFX service email wirecard&dm_i=1Q0N,6XHH8,ELNILZ,RV8E2,1

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Just had an e mail from Fair FX stating that they have received, in writing, confirmation from Wirecard UK that all customer funds were held in ring fenced accounts by Barclays as per the UK requirements. I`m presuming that the BF Currency card will be included. Those funds are still frozen whilst the FCA continue enquiries before lifting the suspension on the accounts...Hopeful and probably better news than I was expecting but the proof will be when you can actually access your money..

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