Yes, they only have SEPA region coverage using wirecard UK .. They basically sent the same notice like everybody else. All cards are blocked until further notice.
WireCard - hope this isnt another SATA
- Thread starter nitehawk
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Yes, they only have SEPA region coverage using wirecard UK .. They basically sent the same notice like everybody else. All cards are blocked until further notice.
Wonder what card provider Euro Pacific Bank will use next. Most of their clients are from Europe hiding out there with accounts smi(&%.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
Does the FCA audit include looking at all customers of clients of Wirecard UK? You got to do the audit properly right. Wasn't that the whole problem with Wirecard AG in first place that past audits were weak ns2
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I think they are checking accounting to see if there is another 1.9 billion missing 😀
I don't think that they are looking at their clients, everybody under the sun uses wirecard cards .. When transferwise support told me they were issuing their own cards I was shocked, because I was used to the fact that everybody just uses wirecard, it was automatic in my mind ..
EDIT : wait you just said "all customers of clients of Wirecard" lol, so obviously you were joking 😀 nevermind !
You're quite right. Even if sub 6-figure turnovers are ignored, it's by minimum a year of work to glance over the rest. Which means that fragmented laundering or fraud of any kind will not be caught. Which means that it's a muscle-flexing exercise. Or the FCA does not intend to follow the plan of German colleagues in which Wirecard's subsidiaries will be saved. And in this case, they have already decided to press the red button and are now looking for a cause.
One thing is certain: there's not going to be that one special customer with 1.9bn of undocumented euros.
Payoneer alone has 4 million customers .. How do you even begin to uncover a possible, wait what did they call the other 1.9 billion, a "elaborate and sophisticated fraud".
Not everybody 🙂
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Would be better if Euro Pacific Bank issued virtual debit cards. Oh wait......but Euro Pacific Bank customers all need access to cash via ATM's to repatriate the income they avoided paying tax on smi(&%.
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so true, it's not the best to use this bank.
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Ok, let's say everybody from the companies that I can trust with my money.
Yeah well good luck with that! I wouldn't want to be on that FCA team!
By the way an update from the FCA
https://www.fca.org.uk/news/news-stories/requirements-imposed-wirecard-authorisation
They keep saying the same thing, they want to make sure the money is safe.
Is that something diplomatic to say to reassure people, or does Wirecard germany have a way to access that money ? I mean what do they mean by safe ? safe from what ?
Very diplomatic like the captain of the Titanic saying to passengers stay calm its just a little leak we have. Meanwhile the vessel is pointing skywards half submerged 🙁.
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If you spend at least 5k EUR/month with the card, then I could introduce to you a good company that can deliver the cards basically anywhere in the world (except sanctioned countries). It's a well-respected company that has offices in Europe and the USA. I have written a little more info in my thread Offshore bank accounts and Cards with high spending limits!
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That made me laugh. What a joke all very sad. Tells you how they really feel about public. I mean look at epayment customers money has been trapped since Feb 11th. Imagine having your money blocked that long.
So I say again to everyone when you hear a bank or EMI is in trouble just run. Don't wait for any "deposit insurance" or your "assets are segregated and safe". What's the point of money being safe if you can't get to it for months..lol.
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I think all EMI's will run to cornercard or their UK entity for card needs....hint hint. They seem likely candidate for new Wirecard replacement 😉. They have been around for ages and have been in prepaid card game for a while.
https://www.cornercard.co.uk/
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https://www.cornercard.co.uk/
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So what does this mean (about wirecard UK)
The company has appointed turnround specialist Alvarez & Marsal, which is also considering other options including placing the business into administration if it cannot convince the regulator to lift its suspension, according to people briefed on the situation.
source
https://www.ft.com/content/d1ac87e6-0483-4185-8e70-0e5d6206e0eb
The company has appointed turnround specialist Alvarez & Marsal, which is also considering other options including placing the business into administration if it cannot convince the regulator to lift its suspension, according to people briefed on the situation.
source
https://www.ft.com/content/d1ac87e6-0483-4185-8e70-0e5d6206e0eb
Also an update from Payoneer CEO ..
he says they are going to cover .. that means they know the outcome. Either the freeze will be lifted and he comes out as a hero, or it doesn't and he is anticipating the blow out ... I assume he got confirmation of the freeze lift and he is trying to be a hero ..
he says they are going to cover .. that means they know the outcome. Either the freeze will be lifted and he comes out as a hero, or it doesn't and he is anticipating the blow out ... I assume he got confirmation of the freeze lift and he is trying to be a hero ..
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