FCA suspends Fair FX euro cards

[John_Silver]

Bad news for those of us using the Fair FX prepaid currency cards to avoid credit card euros transaction surcharges.

FCA have suspended either the card issuer Wirecards AG, or the card holder from accessing funds.

Apparently a 1.9 billion euro hole has been found in the accounts of the German parent company....

 

[Chris_Robb]

Bad news for those of us using the Fair FX prepaid currency cards to avoid credit card euros transaction surcharges.

FCA have suspended either the card issuer Wirecards AG, or the card holder from accessing funds.

Apparently a 1.9 billion euro hole has been found in the accounts of the German parent company....

Interesting - I always buy and take Cash in Euros to Greece as paying cash to some boatyards is expected (if not Illegal over €500)!

Dealing with a company that is unregulated can be dicy, but one should look at the "daylight" exposure - Ie I order cash today, and it arrives tomorrow - so you would be very unlucky for it to bang during that short time.

I suspect I will need to find another (probably just as dodgy) supplier......As I dont go out till September there is time to wait - price on Fair FX today was 1.07. Lets wait for the deal when it will probably rise...... or no deal - in which case the uncertainty will be lifted and the pound will go up!

 

[Chris_Robb]

Fair FX is one of 4 or 5 companies that use the German parent company WireCard. Supposedly ring fenced.

Best advice now that service is resumed is to get the hell out of there. Unfortunately the safer havens cost more

 

[Beneteau381]

Interesting - I always buy and take Cash in Euros to Greece as paying cash to some boatyards is expected (if not Illegal over €500)!

Dealing with a company that is unregulated can be dicy, but one should look at the "daylight" exposure - Ie I order cash today, and it arrives tomorrow - so you would be very unlucky for it to bang during that short time.

I suspect I will need to find another (probably just as dodgy) supplier......As I dont go out till September there is time to wait - price on Fair FX today was 1.07. Lets wait for the deal when it will probably rise...... or no deal - in which case the uncertainty will be lifted and the pound will go up!

I bought a grands worth the other week, used to use them but saw they had changed hands so went with another thank goodness!

 

[ITH]

I bought a grands worth the other week, used to use them but saw they had changed hands so went with another thank goodness!

Fair FX up and running again: