Latest update : 15:00 GMT Tuesday 30th June
CARDS SERVICES ARE BACK!
We’re delighted to announce that following the temporary suspension of Wirecard’s regulated activities by the FCA, the small number of Equals Spend cards affected by this issue are now back up and running as normal.
The FCA lifted their restrictions in the early hours of this morning and the reason for the delay before customers could use their cards again was because we were waiting for Mastercard to resume normal activities for cards affected by this situation.
The vast majority of our Equals Spend cards, including those ordered by new customers, are not issued with Wirecard and as such were not affected by this issue. However, a small number of our Equals Spend customers are still using FairFX cards starting with 5116 and were impacted.
If you have a card starting with 5116 and still have questions about what happened or the impact on your account, please refer to the FAQs below or get in touch with our team at email@example.com or 0207 778 9302.
Our team has been working tirelessly around the clock to get you back up and running and we are thrilled that we’ve now achieved this.
Thank you again for your patience.
On Friday 26th June, the Financial Conduct Authority (FCA) temporarily suspended our card issuer – Wirecard Card Solutions Ltd operations, and as a result a small number of our Equals Spend customers were unable to use their cards. In the early hours of this morning, following their investigation, the FCA announced that it would restore Wirecard’s ability to operate its payments and issuing services, allowing all customers who use Wirecard’s services to resume card operations. You can read more on the FCA’s most recent announcement here.
All Equals Spend cards starting with 5116 are now back up and running.
The reason for the delay between the FCA’s announcement this morning and customers being able to use their cards again, was because we were waiting for Mastercard to resume normal activities for cards affected by this situation.
Why didn’t you tell us sooner?
Unfortunately we weren’t warned of this in advance. The action was taken by the FCA on Friday and we weren’t given any notice. We’ve worked continuously with them since then to get you back up and running and are delighted to have now achieved this.
How do we know this won’t happen again?
We have been offering financial services since 2007 and in that time, we have not experienced anything like these past few days with Wirecard.
The security of our customers’ funds remains of the utmost importance to us and, as we have continuously said since the FCA’s initial announcement on Friday, your funds have been safely held in safeguarded accounts by Barclays Bank Plc. as per the FCA regulations. This meant that they are, and always were secure, but access to them was temporarily blocked by the FCA.
We do however, understand that you may still be worried about using cards issued by Wirecard. If this is the case, please feel free to contact us directly a member of our team will explain the options available to you.
The Equals team