Customers locked out of accounts at Pockit, Curve and other prepaid cards - MSE News

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  • Fingerbobs
    Fingerbobs Posts: 1,656 Forumite
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    The headline is a bit misleading. I'm not "locked out" of my Curve account. I can still use the app as normal - just can't transact on the card at the moment.
  • tehone
    tehone Posts: 640 Forumite
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    Curve card are back as from tomorrow (Monday 29 June) - just received an email from them. Really impressed with how fast they have sorted this out.
  • ceremony
    ceremony Posts: 241 Forumite
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    The headline is a bit misleading. I'm not "locked out" of my Curve account. I can still use the app as normal - just can't transact on the card at the moment.
    To be fair, Curve is a bit different to the other apps/accounts on the list in that it isn't actually an account, so with the exception of the Curve Cash part (which I doubt anyone had a substantial balance built up in), people weren't losing access to money. The card is essentially useless if you can't transact with it though!

    Full credit to Curve for sorting it quickly though. I've just had an email from them saying that users will be able to update the app tomorrow (Monday) and start using their cards again.  I know Curve was already transitioning away from Wirecard before this happened, so they'll have been able to move more quickly than most companies affected. Hopefully Pockit / U Account, etc will get sorted soon too though.
    Start Debt Jun 2020 = £10,036 - Current £5,894 | #324 £1,000 Emergency Fund Member - £205
  • nick74
    nick74 Posts: 829 Forumite
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    Kirky9999 said:
    I have a Fair FX card with dollars I bought before the rate went down stored on it.  Doubt I will see that money again as I doubt they followed the guidelines when scamming over 1 billion.  Shame I can’t go after Fair FX for not looking after the money.  Just what we need right now 
    Is your Fair FX card definitely one of the ones affected? Fair FX/Equals cards starting with the number 5339 are not connected with Wirecard so not caught up in this. 
  • JezR
    JezR Posts: 1,697 Forumite
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    edited 29 June 2020 at 11:35AM
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    Fairfx released this statement at 11:00 BST today:

    We have now received written confirmation from Wirecard Card Services Ltd that all FairFX customer funds are held in safeguarded accounts with Barclays and other tier 1 banks as per the FCA regulations that are in place to protect your funds. As soon as the FCA lifts the restrictions on Wirecard’s operations, you will be able to access your funds and make payments.

    The FCA have confirmed this morning that they are making good progress with Wirecard in evidencing all their requirements and we expect to hear a further update by close of business today (Monday 29th June).

    We have developed an alternative card solution that is not dependent on Wirecard and will provide further details of how customers can access this alternative card as soon as the FCA lifts the restrictions on Wirecard’s operations.

    We apologise once again for the disruption caused by the Wirecard issue. Most of our employees, from our Executives to our Engineers, volunteered to work throughout the weekend to support our customers through this difficult time and we continue to do everything we can to get you access to your money as soon as possible.

  • jonnygee2
    jonnygee2 Posts: 2,086 Forumite
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    But isn't the "ring fenced" money the money that's missing?

    No it isn't. The missing money is from overstated profits. Customer deposits and operating profit are two different things. The money is missing from their business accounts, not their customer accounts, as far as we know.

    Additionally, many UK users of wirecard will be holding the end funds in a UK bank account instead of with Wirecard, which only holds a full banking licence in Germany afaik. In the UK wirecard normally provides transacting service rather than hold deposits.

  • epm-84
    epm-84 Posts: 2,723 Forumite
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    tehone said:
    Curve card are back as from tomorrow (Monday 29 June) - just received an email from them. Really impressed with how fast they have sorted this out.
    They were already in the process of migrating to a new provider when Wirecard lost their licence.

    You will need to install an app update to be able to get in to your account.
  • urbangecko
    urbangecko Posts: 10 Forumite
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    I have an ice clear plc prepaid currency MasterCard in Euros. I loaded it over the years to help my mum pay for repairs on her house in France. She has just signed off on the work and now this happens. I can't afford to lose the cash on it. I opened a card with Ice Clear not Wirecard. I had never heard of them. I am seriously worried I've lost the money and bearing myself as to why I didn't ask my mum to pay off for the work last week. Ice card is saying nothing more than what's on in the FCA website. I don't know if FCSC applies.
  • Dr_Crypto
    Dr_Crypto Posts: 1,211 Forumite
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    I did some more reading about Pockit. It seems you have to pay a fee per transaction! Why would anyone want such an expensive and clearly unreliable account when they can have a free one from a normal bank I don’t know.

  • ceremony
    ceremony Posts: 241 Forumite
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    Dr_Crypto said:
    I did some more reading about Pockit. It seems you have to pay a fee per transaction! Why would anyone want such an expensive and clearly unreliable account when they can have a free one from a normal bank I don’t know.

    Pockit used to be a lot cheaper than they are now.
    Basic bank accounts aren't that well advertised today, and they were even more unknown a few years ago. A lot of people either don't know that they exist or are still under the impression that a basic bank account literally only gives you an ATM card, no debit card, no direct debits, etc.
    People who care enough about the issue to post on this forum know about the options that are out there, but it feels like the banks don't want people to know that you can get a bank account if you're on a low wage and have bad credit.
    These 'unbanking' providers market very heavily and often run refer a friend promotions. They're good at sucking people in.


    Start Debt Jun 2020 = £10,036 - Current £5,894 | #324 £1,000 Emergency Fund Member - £205
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