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Fair Fx accounts suspended
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userlaimeduck
Posted: 27 June 2020 8:09 AM
Subject: Fair Fx accounts suspended
 


Epic contributor

Posts: 1708
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Location: 2005 Benimar Perseo 710CCX


I was unaware that the "Wirecard" scandal involved prepaid cards and it would appear that, among a range of other cards, FairFx cards are now suspended.

It seems that so far the money is safe, but not accessible?

https://www.bbc.co.uk/news/business-53198409

https://www.moneysavingexpert.com/news/2020/06/pockit--curve-and-other-prepaid-card-customers-see-accounts-froz/




Edited by laimeduck 2020-06-27 8:36 AM
userMickt
Posted: 27 June 2020 8:18 AM
Subject: RE: Fair Fx accounts suspended
 
Treasured contributor

Posts: 869
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Location: SUFFOLK


It must be my lucky week as I telephoned Fairfx a few days ago and asked for my euro s on my card to be refunded. Money now back in my bank.
userjohnfromnorfolk
Posted: 30 June 2020 10:28 AM
Subject: RE: Fair Fx accounts suspended
 
Pops in from time to time

Posts: 124
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Location: Norfolk


Cards now unlocked.
I suppose I naively thought that the likes of Fairfx held the cash in their bank.
In fact, and I think I'm right that they are just like 'Middle men' or just administrators of the accounts.
They hold some Euro's for me and I will probably run down my holding with them.
userjohnfromnorfolk
Posted: 30 June 2020 5:24 PM
Subject: RE: Fair Fx accounts suspended
 
Pops in from time to time

Posts: 124
100
Location: Norfolk


I was obviously wrong in my analysis of how Fairfx operate.
Apparently they are required to hold customers cash in a separate account in another bank, which is Barclays in this case.
userlaimeduck
Posted: 30 June 2020 7:21 PM
Subject: RE: Fair Fx accounts suspended
 


Epic contributor

Posts: 1708
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Location: 2005 Benimar Perseo 710CCX


I have 3 FX cards, Anywhere in £, $ and €.
We were meant to be spending 3 weeks in California in May hence the $
We went to New Zealand, hence the Anywhere
We have the € for our European trips & day trips.
As they have started operating again I will remove the bulk of the balances on these cards and just leave eg £5 on each.
There is a small fee, but I'll take that hit to keep the bulk of the money safe.
I very much doubt that the Wirecard scandal has ended yet!
userstevec176
Posted: 30 June 2020 8:31 PM
Subject: RE: Fair Fx accounts suspended
 


A posting machine

Posts: 357
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Location: Nr Attleborough, Norfolk. Motorhome Rapido 665f


Thanks for the heads up, I have a couple of TravelEx cards with quite a lot of money on them. I've tried to access them but all I get is a message telling me there is a problem. How many other cards are having problems?
userrael
Posted: 30 June 2020 10:01 PM
Subject: RE: Fair Fx accounts suspended
 
Gets involved

Posts: 261
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Location: West Sussex. Challenger Vany 2018 LHD 2.3 130bhp


FairFx should be working now according to the email they sent tonight. And in this article.
https://www.moneysavingexpert.com/news/2020/06/customers-cards-begin-to-work-again-after-wirecard-restrictions-/

Edited by rael 2020-06-30 10:02 PM
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