UPDATE: Tuesday 30 June 2020

In the light of the decision of the Financial Conduct Authority to allow Wirecard in the UK to recommence regulated services it is Omnio’s understanding that such services should become available to all customers today.  The FCA continue to place restrictions on Wirecard UK to protect any funds they hold on your behalf and to ensure they are held in UK financial institutions and unavailable to the German parent company.

 

Omnio will continue to monitor the situation and ensure that it deals promptly with any issues that arise from this suspension of their service.  This will include a special focus on dealing with any loads of value to account that were caught in-flight and similar.

 

This has been a hugely disruptive event and I have been greatly impressed with the Omnio team’s response and delighted with the confidence our customers have shown in Omnio’s ability to respond to it.

 

Further updates will be provided if it proves necessary but I expect the service to return to normal today.  We will continue to keep our website updated with information for cardholders on that site and all other group sites. Please also direct your cardholders to Wirecard and the Financial Conduct Authority’s website for information.

 

Financial Conduct Authority: https://www.fca.org.uk/

 

Wirecard Solutions Ltd: https://www.wirecard-cardsolutions.co.uk/

 

I will of course be considering how Omnio can remove the risk of a repeat of this incident and will keep you informed of progress towards that goal.

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 

Friday 26 June 2020:

Dear Customers,

 

In the light of the FCA’s unexpected decision this morning (Friday 26 June) to remove Wirecard Card Solutions Limited’s (the UK arm of Wirecard AG, which filed for insolvency this week, and often abbreviated as WDCS) authorisation as an e-money institution, and the instructions Wirecard has issued to payment processors, all cards issued by Wirecard are currently not working.  It is not possible, at present, to spend funds held on account (neither at a shop or on e-commerce website) nor will ATM cash withdrawals work.  However we want to reassure you that Wirecard have stated that all funds are held in what is known as a “segregated funds account”.  These funds are not currently available to anyone, pending further action by the FCA, and we will update you as soon as we have a timescale for their release.

 

Omnio recognises the significant harm that these actions of other parties will cause to our customers and is working to restore the card functionality as quickly as possible.  This will require the collaboration of the regulatory authorities and the card schemes, Visa and Mastercard - all parties are working quickly to solve this issue.

 

In the meantime, we will keep our website updated with the latest news and we will also provide information for cardholders on that site and all other group sites.  Please direct your cardholders to that information, Wirecard and to the Financial Conduct Authority’s website for information on this matter,

 

Financial Conduct Authority: https://www.fca.org.uk/

Wirecard Card Solutions Ltd.https://www.wirecard-cardsolutions.co.uk/

 

Yours Faithfully,

Adrian Cannon | Chief Executive Officer

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