Finance firm Wirecard resumes services after restrictions lifted

Wirecard - (Copyright AP)
6:44am, Tue 30 Jun 2020
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Restrictions on German company Wirecard have been lifted by the Financial Conduct Authority (FCA) after thousands of Britons were left potentially unable to access their own cash.

Newcastle-based Wirecard Card Solutions Limited’s licence was frozen after a major accounting scandal at its German parent company.

Fintech firm Curve was among those who said the FCA decision would temporarily prevent customers from using their accounts.

The FCA said written consent for Wirecard to continue providing payment services was granted on Monday and that restrictions would be lifted by Tuesday.

“The FCA’s consent means that Wirecard can now resume electronic money and payment services to its customers and customers can now, or very shortly, use their cards as usual,” a statement said.

Last week, German firm Wirecard AG revealed that around £1.7 billion was missing from its accounts in an alleged accounting fraud.

The company has filed for insolvency but will continue business operations.

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