Wirecard licence suspended - please carry a back-up card

WIRECARD LICENCE SUSPENDED - PLEASE CARRY A BACK-UP CARD.

Dear Curve Customers,

Your Curve card and all associated Curve transaction and money transfer services will be temporarily suspended with immediate effect . Please be assured, we expect to be up and running again shortly but it may take a few days. Your money and card details held at Curve are safe and secure.

This has happened because the Financial Conduct Authority1 has this morning suspended its permission for Wirecard Card Solutions Limited (the company who currently issues Curve Cards) to operate, without prior notice. This action is not related to Curve - but Curve currently depends on Wirecard for operation of the Curve card.

We are already well on the way to migrating away from Wirecard but have not fully completed this process. We are now working round the clock to achieve the migration as quickly as possible and therefore expect this disruption to last for only a limited period of time.

We will continue to communicate the details of what this means for you during this interim period.

For now, please carry a backup card.

We’ll be back,
Team Curve

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I have a feeling the rush to get their product working again is going to end up with a shitty job being done and some short-term issues

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I wonder how much money they’ll lose because of this…

Also, which entity actually holds the Curve Cash?

In theory Curve won’t lose anything. However The Curve Card and E-money is issued by Wirecard Card Solutions Limited (company No. 07875693)

So unless Curve had started using its own e-money licence, which it has, everything up until today would be stuck until a decision on Wirecard is made.

Not Fintech but affected all the same.

I think the FCA should confirm if funds are secured and safe, and companies who can afford to can allow customers access to funds. It’s not difficult to do, be more like a short term loan but would keep customers happy and give them access to the money.

Anyone that currently uses dozens, boon or one of the others as there main account is current going to struggle.

Curve users isn’t such a problem, as it’s only curve cash itself that would be held

They sort of did:

(emphasis on sort of)

Yeah ‘sort of’, not enough confirmation for these companies to give the money upfront though to customers.

Agreed :slight_smile:

The good news for Dozens customers is that they can still access their money. I’m not sure anyone currently uses them as their main account as they are still working on their Visa and Openbank integrations.

There are going to be a lot of people locked out, as wirecard also provided service to Pockit, Tuxedo Money even Tymit’s card is issued by them…

At the end of the day if Wirecard UK is solvent and can give the FCA proof it can operate, the FCA will allow them to continue to trade. But how long that takes will be the key, it’s unlikely to be until next week, with the UK for example starting to get back to normal, people will start to notice it.

You have millions of customers around the world knowing wirecard as a name isn’t to be trusted. It’s not relevant whether its Wirecard AG, Wirecard UK or Wirecard IT etc, the name is damaged.

Curve is planning on issuing new cards, but it’s not going to be to all its customers in a quick period of time.

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And………

we’re back.
We’re thrilled to inform you that, after a short disruption, as of Monday 29 June you can spend with your Curve Card as normal – both in-store and online, with your physical card. Apple Pay, Google Pay, and Samsung Pay should be available to use by the end of the day.

We had to make some backend changes so you’ll need to update your app to use it (just open it, we’ll prompt you). And you may need to re-verify some cards.

Head to our blog to read more about other functionalities we’re still working to restore. Thank you for your patience, it feels good to be back.
Alexa, play “Survivor” by Destiny’s Child,

Team Curve

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