FairFX

silverweed

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
 
silverweed said:
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
Click to expand...

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.
 
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
 
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.
 
With just over a grand on it, would have been gutted if TorFX headed the same way, so thanks again.
 
Afaik Caxton cards are not affected but I had €300 on mine so withdrawn it just in case.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..

www.moneysavingexpert.com

Martin Lewis: 'Signs that Pockit, Anna Money, Fair FX and other Wirecard accounts may be unlocked this week'

Thousands of prepaid card users have been left unable to access their own cash after the Financial Conduct Authority today ordered Wirecard Card Solutions Ltd to suspend its operations in the UK and freeze customer funds, after a major accounting scandal at its German parent company.
www.moneysavingexpert.com www.moneysavingexpert.com

Wirecard can resume regulated activity

On 29 June 2020, the FCA provided written consent to allow Wirecard to resume issuing e-money and providing payment services. The restriction on activities will lift at 00.01 on 30 June 2020.
www.fca.org.uk www.fca.org.uk

Pete
 
Caxton FX looks to be safe

www.caxtonfx.com

Caxton | Prepaid Currency Card and International Payments

www.caxtonfx.com www.caxtonfx.com
.

Screenshot (4).png
 
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.
 
Wooie1958 said:
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.
Click to expand...
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
 
'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
 
Tezza33 said:
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
Click to expand...


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:
 
silverweed said:
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
Click to expand...
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

1593443656976.png

1593443688059.png


So, hopefully any money in FairFx will eventually be OK
 
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