FairFX

silverweed

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Any one else have a euro card with FairFX The cards have been frozen as the financial company they use, Wirecard has filed for insolvency. Looks like fraud. Wonder if that’s the money gone or if there is protection on it
 

John H

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Any one else have a euro card with FairFX The cards have been frozen as the financial company they use, Wirecard has filed for insolvency. Looks like fraud. Wonder if that’s the money gone or if there is protection on it
I have never used FairFX but I have just been listening to Moneybox on Radio 4 and I have googled the FX terms and conditions. It looks very much as if there is no protection or compensation scheme for any money you have on the card. Sorry to be the bearer of bad news - hope you didn't have too much on there.
 

silverweed

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Not too much £250 left from last year. I tended to use the card in the supermarkets As I never can catch the amounts in French. It’s just another amount down the drain at the moment. I’ve only ever flown 4 times in my whole life and this year had to be the time I decided to take my daughter to see Poland. Oh well things could be worse
 

izwozral

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Thanks for posting. We are with TorFX, as far as we know they are safe but decided to empty whatever monies we had with them.

Sorry to hear that you have lost out.
 

izwozral

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With just over a grand on it, would have been gutted if TorFX headed the same way, so thanks again.
 

peejay

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Afaik Caxton cards are not affected but I had €300 on mine so withdrawn it just in case. £1.50 charge to withdraw funds.

A few links..



Pete
 

Wooie1958

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Just had an email From Caxton FX.

Quote :-

Important information: Collapse of Wirecard

You may have seen reports in the press about the collapse of Wirecard, a German-based bank that also issues prepaid cards in the UK. We understand that the Financial Conduct Authority (FCA) has blocked funds on those Wirecard cards. I can reassure you that Wirecard is not a supplier to Caxton and your Caxton Card and Account is not affected in any way.


We're here to help

You might have friends or family members who do have cards issued by Wirecard and they could be concerned about the safety of their funds. If so, Caxton is here to help. By sending them this *************** they can instantly apply for a Caxton Card and, once the FCA lifts their block, transfer their funds from their Wirecard-issued prepaid card to their new account, subject to our normal checks.
 

Tezza33

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Just had an email From Caxton FX.

Quote :-

Important information: Collapse of Wirecard

You may have seen reports in the press about the collapse of Wirecard, a German-based bank that also issues prepaid cards in the UK. We understand that the Financial Conduct Authority (FCA) has blocked funds on those Wirecard cards. I can reassure you that Wirecard is not a supplier to Caxton and your Caxton Card and Account is not affected in any way.


We're here to help

You might have friends or family members who do have cards issued by Wirecard and they could be concerned about the safety of their funds. If so, Caxton is here to help. By sending them this *************** they can instantly apply for a Caxton Card and, once the FCA lifts their block, transfer their funds from their Wirecard-issued prepaid card to their new account, subject to our normal checks.
I have had the same email this morning, I chose Caxton because it was safer so losing a a few percent over the years hasn't bothered me
 

Jeff G

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'In the end, the collapse took only seven days. Wirecard admitted last week that roughly a quarter of its assets — €1.9 billion ($2.1 billion) in cash — probably never existed. CEO Markus Braun resigned and was quickly arrested on suspicion of artificially inflating the firm's balance sheet and sales through fake transactions. Wirecard filed for insolvency on Thursday. ' Scary stuff
 

Wooie1958

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I have had the same email this morning, I chose Caxton because it was safer so losing a a few percent over the years hasn't bothered me

Same here, been with them a good few years now and have no intention of changing :)

My only regret is that i didn`t put more on it years back when the exchange rate hit 1.4105 euros :mad:
 

robell

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Any one else have a euro card with FairFX The cards have been frozen as the financial company they use, Wirecard has filed for insolvency. Looks like fraud. Wonder if that’s the money gone or if there is protection on it
We have Caxton and FairFx cards. As has been said earlier, Caxton have stated they are not linked to Wirecard. FaorFx though have this as the latest on their website

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1593443688059.png


So, hopefully any money in FairFx will eventually be OK
 
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