WeSwap 2.0 new app and Launch problems

Elmer_Dudd

Having been a WeSwap card holder for years it saddens me to say that I am having a complete nightmare with the new app WeSwap 2.0 have launched and now have no access to my money on my account.

In fact my money seems to have vanished into the ether as it is showing a zero balance and not the hundreds of euros that were on my account..gulp!

The app would not accept my details and did not display a page or options when asking for occupation..but it did then send out a new card to me when I requested it so obviously has the details stored somewhere although there was no confirmation to say the card had been successfully requested and had been posted.

The card had a number faintly printed almost sideways on the attached flyer that was easily missed but was needed to activate the card..no explanation of what and where it was on the flyer..even the name and address was printed sideways which they explained made them 'different'

Anyway after 4 emails and nothing but stock delaying answers that they will get back in 2 days(and never doing so) and being unable to contact them on their phone line I thought I would see if anyone else on here is having problems.

Looking at the latest on Trustpilot made my heart sink..Facebook not good either..not looking good at the moment and no way to access my euros or get in touch with a human at WeSwap..looks like the launch has been anything but smooth and thinking the best thing would be to get my money back from them asap.

Elmer

iandwyer

Hi Elmer,
I read somewhere the transfer of funds takes 3-5 days. Hopefully yours will arrive soon. 
I am currently in a similar situation. Fingers crossed.
Ian

Elmer_Dudd

Beyond a joke now..no way at all to get any contact with WeSwap in any way and no sign of my money anywhere !!

See that the card is issued by Monevate and a firm called IDT Financial Services..may have to get onto these lot as I fear the WeSwap 2.0  launch has been a disaster.

Elmer_Dudd

Also these comments on trustpilot are giving me sleepless nights

https://uk.trustpilot.com/review/weswap.com

Elmer_Dudd

The card issuing company was actually called Monavate and I have discovered that IDT Finance are not covered by the FCA..they seem to be based in Gibraltar.

Seems this is going from bad to worse...

https://twitter.com/WeAreWeSwap/status/1417854379529412615

Not a happy chappy

Elmer_Dudd

More bad news

https://www.compareholidaymoney.com/reviews/weswap.php

Maybe the MSE team should have a look at this.

[Deleted User]

I'm in the same situation. I didn't have a huge amount of money on the card (about £50) but in August I requested a refund from WeSwap and received no response. Sent several follow ups with no response.

The FAQ on their website then had a new bit of info stating that after 31 August you should send any request for a refund directly to IDT Finance. I did that and received an immediate reply stating: "Due to unforeseen circumstances and contrary to the recent communications you have received,  WeSwap will be handling all customer refunds and balance transfers until further notice."

Sent another email to WeSwap after that with no response. I think this is definitely worth the MSE team looking at. Some people have a lot of money that has essentially just vanished and they don't seem to be responding to any requests.

[Deleted User]

The whole thing is quite dodgy when you look at it overall. They were a company based on people using the card when they travel. They will obviously have lost a lot of business during the pandemic.

They then decided to launch a completely new app this summer that effectively removes access to old accounts (i.e. prevents people from being able to spend any more of the money in their account). This is a very odd thing to do at the best of times as usually you would just update the app and change how existing accounts work. If you force all of your customer base to reregister then you'll inevitably lose a certain percentage of them who can't be bothered so most companies would never do that.

They launched this new app with a single tweet and facebook post back in July and seemingly haven't updated any social media since. Money in the old accounts hasn't been transferred and while they claim they will refund any previously held funds, they don't respond to emails and have put contradictory information on their website.

At best this is a bit of a balls up, but perhaps the more likely explanation is they were running out of cash, found themselves leaking money from people requesting refunds and so decided to create this new app to deliberately restrict access to funds under the cover of "launching a new service".

Elmer_Dudd

Like you I contacted IDT Finance via email and they washed their hands of it saying WeSwap would get in touch..ha ha....likewise Monavate said it was all down to WeSap to sort out..and there we stand..over 500 euros out of pocket and with my wife also having a now unusable WeSwap account we are up the creek without a paddle.

WeSwap are obviously sinking under a sea of complaints and it's not looking good.

BAF1960

I,ve changed as advised to new app, got my new card ok registered it find, but no money showing when got a balance of over 500 euros, contact by email and said get back to me. 

[Deleted User]

Elmer_Dudd said:

Like you I contacted IDT Finance via email and they washed their hands of it saying WeSwap would get in touch..ha ha....likewise Monavate said it was all down to WeSap to sort out..and there we stand..over 500 euros out of pocket and with my wife also having a now unusable WeSwap account we are up the creek without a paddle.

WeSwap are obviously sinking under a sea of complaints and it's not looking good.

I guess the question now is whether there's some way to get the money back if they go bust.