elitesportsbook
Jr. Member
Some of you may have a Wirecard account, many casinos take them. This German firm has a 1.9bn Euro hole in the accounts and the UK FCA has today frozen all accounts as they cannot be sure the backing is there for the transactions.
Technically the monies covering the accounts should be held in Barclays.
"Pockit, has been frozen because the UK financial regulator, the Financial Conduct Authority (FCA) wants to make sure the money is safe.
It is one of dozens of payment cards and foreign currency cards which have been blocked, because they used a payment processing service owned by Wirecard.
Wirecard's UK arm insisted the problem was "temporary" and progress was being made."
Funds held by e-money firms like Pockit are not guaranteed up to £85,000 as bank deposits are, although they are held in banks and should be safeguarded.
Pockit has told customers: "Your funds are being held by Wirecard in a ring-fenced designated account with Barclays. This means in the event of a Wirecard going bust you are protected."
Even so, the FCA is anxious to make sure no money is siphoned off because of Wirecard's collapse in Germany.
"Following last week's news of €1.9bn missing from the accounts of the German company, Wirecard, we placed requirements on the firm's UK business so that it should stop carrying out regulated activities and not pay out or reduce any money it holds," the regulator said.
"Our primary objective all along has been to protect the interests and money of consumers who use Wirecard."
Technically the monies covering the accounts should be held in Barclays.
"Pockit, has been frozen because the UK financial regulator, the Financial Conduct Authority (FCA) wants to make sure the money is safe.
It is one of dozens of payment cards and foreign currency cards which have been blocked, because they used a payment processing service owned by Wirecard.
Wirecard's UK arm insisted the problem was "temporary" and progress was being made."
Funds held by e-money firms like Pockit are not guaranteed up to £85,000 as bank deposits are, although they are held in banks and should be safeguarded.
Pockit has told customers: "Your funds are being held by Wirecard in a ring-fenced designated account with Barclays. This means in the event of a Wirecard going bust you are protected."
Even so, the FCA is anxious to make sure no money is siphoned off because of Wirecard's collapse in Germany.
"Following last week's news of €1.9bn missing from the accounts of the German company, Wirecard, we placed requirements on the firm's UK business so that it should stop carrying out regulated activities and not pay out or reduce any money it holds," the regulator said.
"Our primary objective all along has been to protect the interests and money of consumers who use Wirecard."