laimeduck Posted June 27, 2020 Share Posted June 27, 2020 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/ Link to comment Share on other sites More sharing options...
Mickt Posted June 27, 2020 Share Posted June 27, 2020 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. Link to comment Share on other sites More sharing options...
johnfromnorfolk Posted June 30, 2020 Share Posted June 30, 2020 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. Link to comment Share on other sites More sharing options...
johnfromnorfolk Posted June 30, 2020 Share Posted June 30, 2020 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. Link to comment Share on other sites More sharing options...
laimeduck Posted June 30, 2020 Author Share Posted June 30, 2020 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! Link to comment Share on other sites More sharing options...
stevec176 Posted June 30, 2020 Share Posted June 30, 2020 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? Link to comment Share on other sites More sharing options...
Guest rael Posted June 30, 2020 Share Posted June 30, 2020 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-/ Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.