{"id":5593,"date":"2020-06-29T21:00:12","date_gmt":"2020-06-29T21:00:12","guid":{"rendered":"https:\/\/newmoneyreview.com\/?p=5593"},"modified":"2020-07-20T18:16:03","modified_gmt":"2020-07-20T18:16:03","slug":"fca-makes-about-turn-on-card-freeze","status":"publish","type":"post","link":"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/","title":{"rendered":"FCA reverses Wirecard UK freeze"},"content":{"rendered":"<p>The UK financial services regulator has reversed its Friday decision to suspend the activities of Wirecard Card Solutions Limited, an action which precipitated the freezing of up to 60 prepaid card services that use Wirecard to process payments.<\/p>\n<p>In <a href=\"https:\/\/www.fca.org.uk\/news\/news-stories\/requirements-imposed-wirecard-authorisation\">a statement on its website<\/a>, the Financial Conduct Authority (FCA) said that the freeze would lift at 00.01 UK time on Tuesday 30 June.<\/p>\n<p>&#8220;On 29 June 2020, the FCA provided written consent to allow Wirecard to resume issuing e-money and providing payment services,&#8221; the regulator said.<\/p>\n<p>&#8220;The primary objective of these requirements was to protect the electronic money funds of consumers in safeguarded accounts.\u00a0 It also had the effect of preventing consumers from withdrawing and making payments with those funds.&#8221;<\/p>\n<p>&#8220;The FCA\u2019s 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.&#8221;<\/p>\n<p>The FCA&#8217;s decision will come as a relief to the <a href=\"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/27\/wirecard-fallout-hits-millions-of-workers\/\">millions of users of prepaid debit cards who had lost access to their money<\/a> as a result of last week&#8217;s insolvency of Wirecard AG, the parent company of Wirecard Card Solutions Limited.<\/p>\n<p>Earlier today, <a href=\"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/trade-body-warns-of-lasting-fintech-damage\/\">a UK payments trade body said the FCA&#8217;s decision to freeze Wirecard&#8217;s UK activities threatened to cause wider damage to the financial technology sector, employment and the economy<\/a>.<\/p>\n<p><em><a href=\"http:\/\/eepurl.com\/du6eTr\">Sign up here<\/a> for our monthly newsletter<\/em><\/p>\n<p><em><a href=\"https:\/\/blubrry.com\/newmoneyreview\/\">Click here<\/a> for a full list of episodes of the New Money Review podcast: the future of money in 30 minutes<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UK financial services regulator has reversed its Friday decision to suspend the activities of Wirecard Card Solutions Limited, an action which precipitated the freezing of up to 60 prepaid [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":5594,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1053,1026,1014],"tags":[1189,1785],"class_list":{"0":"post-5593","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-featured-1","8":"category-latest-slider","9":"category-payment","10":"tag-fca","11":"tag-wirecard"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FCA reverses Wirecard UK freeze - New Money Review<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FCA reverses Wirecard UK freeze - New Money Review\" \/>\n<meta property=\"og:description\" content=\"The UK financial services regulator has reversed its Friday decision to suspend the activities of Wirecard Card Solutions Limited, an action which precipitated the freezing of up to 60 prepaid [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/\" \/>\n<meta property=\"og:site_name\" content=\"New Money Review\" \/>\n<meta property=\"article:published_time\" content=\"2020-06-29T21:00:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-07-20T18:16:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2020\/06\/unlocked.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1400\" \/>\n\t<meta property=\"og:image:height\" content=\"933\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Paul Amery\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ameryp\" \/>\n<meta name=\"twitter:site\" content=\"@newmoneyreview\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Paul Amery\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/\"},\"author\":{\"name\":\"Paul Amery\",\"@id\":\"https:\/\/newmoneyreview.com\/#\/schema\/person\/71bdc8f94d4973d4c5bd2a8fe5a83412\"},\"headline\":\"FCA reverses Wirecard UK freeze\",\"datePublished\":\"2020-06-29T21:00:12+00:00\",\"dateModified\":\"2020-07-20T18:16:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/\"},\"wordCount\":249,\"publisher\":{\"@id\":\"https:\/\/newmoneyreview.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2020\/06\/unlocked.jpg\",\"keywords\":[\"FCA\",\"Wirecard\"],\"articleSection\":[\"Featured\",\"Latest\",\"PAYMENT\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/\",\"url\":\"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/\",\"name\":\"FCA reverses Wirecard UK freeze - New Money Review\",\"isPartOf\":{\"@id\":\"https:\/\/newmoneyreview.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2020\/06\/unlocked.jpg\",\"datePublished\":\"2020-06-29T21:00:12+00:00\",\"dateModified\":\"2020-07-20T18:16:03+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/#primaryimage\",\"url\":\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2020\/06\/unlocked.jpg\",\"contentUrl\":\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2020\/06\/unlocked.jpg\",\"width\":1400,\"height\":933},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/newmoneyreview.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"FCA reverses Wirecard UK freeze\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/newmoneyreview.com\/#website\",\"url\":\"https:\/\/newmoneyreview.com\/\",\"name\":\"New Money Review\",\"description\":\"A periodical covering the accelerating changes in money\",\"publisher\":{\"@id\":\"https:\/\/newmoneyreview.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/newmoneyreview.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/newmoneyreview.com\/#organization\",\"name\":\"New Money Review\",\"url\":\"https:\/\/newmoneyreview.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/newmoneyreview.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2018\/01\/cropped-nmr_close-crop.jpg\",\"contentUrl\":\"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2018\/01\/cropped-nmr_close-crop.jpg\",\"width\":1418,\"height\":158,\"caption\":\"New Money Review\"},\"image\":{\"@id\":\"https:\/\/newmoneyreview.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/x.com\/newmoneyreview\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/newmoneyreview.com\/#\/schema\/person\/71bdc8f94d4973d4c5bd2a8fe5a83412\",\"name\":\"Paul Amery\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/newmoneyreview.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/58b6269b43fc8c137f118222b601e5041bee2cc0e3291a23180bfb7d36499b18?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/58b6269b43fc8c137f118222b601e5041bee2cc0e3291a23180bfb7d36499b18?s=96&d=mm&r=g\",\"caption\":\"Paul Amery\"},\"sameAs\":[\"https:\/\/x.com\/@ameryp\"],\"url\":\"https:\/\/newmoneyreview.com\/index.php\/author\/paul-amery\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FCA reverses Wirecard UK freeze - New Money Review","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/","og_locale":"en_GB","og_type":"article","og_title":"FCA reverses Wirecard UK freeze - New Money Review","og_description":"The UK financial services regulator has reversed its Friday decision to suspend the activities of Wirecard Card Solutions Limited, an action which precipitated the freezing of up to 60 prepaid [&hellip;]","og_url":"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/","og_site_name":"New Money Review","article_published_time":"2020-06-29T21:00:12+00:00","article_modified_time":"2020-07-20T18:16:03+00:00","og_image":[{"width":1400,"height":933,"url":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2020\/06\/unlocked.jpg","type":"image\/jpeg"}],"author":"Paul Amery","twitter_card":"summary_large_image","twitter_creator":"@ameryp","twitter_site":"@newmoneyreview","twitter_misc":{"Written by":"Paul Amery","Estimated reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/#article","isPartOf":{"@id":"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/"},"author":{"name":"Paul Amery","@id":"https:\/\/newmoneyreview.com\/#\/schema\/person\/71bdc8f94d4973d4c5bd2a8fe5a83412"},"headline":"FCA reverses Wirecard UK freeze","datePublished":"2020-06-29T21:00:12+00:00","dateModified":"2020-07-20T18:16:03+00:00","mainEntityOfPage":{"@id":"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/"},"wordCount":249,"publisher":{"@id":"https:\/\/newmoneyreview.com\/#organization"},"image":{"@id":"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/#primaryimage"},"thumbnailUrl":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2020\/06\/unlocked.jpg","keywords":["FCA","Wirecard"],"articleSection":["Featured","Latest","PAYMENT"],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/","url":"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/","name":"FCA reverses Wirecard UK freeze - New Money Review","isPartOf":{"@id":"https:\/\/newmoneyreview.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/#primaryimage"},"image":{"@id":"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/#primaryimage"},"thumbnailUrl":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2020\/06\/unlocked.jpg","datePublished":"2020-06-29T21:00:12+00:00","dateModified":"2020-07-20T18:16:03+00:00","breadcrumb":{"@id":"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/#primaryimage","url":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2020\/06\/unlocked.jpg","contentUrl":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2020\/06\/unlocked.jpg","width":1400,"height":933},{"@type":"BreadcrumbList","@id":"https:\/\/newmoneyreview.com\/index.php\/2020\/06\/29\/fca-makes-about-turn-on-card-freeze\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/newmoneyreview.com\/"},{"@type":"ListItem","position":2,"name":"FCA reverses Wirecard UK freeze"}]},{"@type":"WebSite","@id":"https:\/\/newmoneyreview.com\/#website","url":"https:\/\/newmoneyreview.com\/","name":"New Money Review","description":"A periodical covering the accelerating changes in money","publisher":{"@id":"https:\/\/newmoneyreview.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/newmoneyreview.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/newmoneyreview.com\/#organization","name":"New Money Review","url":"https:\/\/newmoneyreview.com\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/newmoneyreview.com\/#\/schema\/logo\/image\/","url":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2018\/01\/cropped-nmr_close-crop.jpg","contentUrl":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2018\/01\/cropped-nmr_close-crop.jpg","width":1418,"height":158,"caption":"New Money Review"},"image":{"@id":"https:\/\/newmoneyreview.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/x.com\/newmoneyreview"]},{"@type":"Person","@id":"https:\/\/newmoneyreview.com\/#\/schema\/person\/71bdc8f94d4973d4c5bd2a8fe5a83412","name":"Paul Amery","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/newmoneyreview.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/58b6269b43fc8c137f118222b601e5041bee2cc0e3291a23180bfb7d36499b18?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/58b6269b43fc8c137f118222b601e5041bee2cc0e3291a23180bfb7d36499b18?s=96&d=mm&r=g","caption":"Paul Amery"},"sameAs":["https:\/\/x.com\/@ameryp"],"url":"https:\/\/newmoneyreview.com\/index.php\/author\/paul-amery\/"}]}},"jetpack_featured_media_url":"https:\/\/newmoneyreview.com\/wp-content\/uploads\/2020\/06\/unlocked.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/posts\/5593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/comments?post=5593"}],"version-history":[{"count":5,"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/posts\/5593\/revisions"}],"predecessor-version":[{"id":5599,"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/posts\/5593\/revisions\/5599"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/media\/5594"}],"wp:attachment":[{"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/media?parent=5593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/categories?post=5593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmoneyreview.com\/index.php\/wp-json\/wp\/v2\/tags?post=5593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}