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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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19979273 No.19979273 [Reply] [Original]

The Prepaid MasterCard is an electronic money product and although it is a product regulated by the Financial Conduct Authority, it is not covered by the Financial Services Compensation Scheme. No other compensation scheme exists to cover the losses claimed in connection with the Prepaid MasterCard. This means that in the event that Wirecard Card Solutions Ltd becomes insolvent Your funds may become valueless and unusable and as a result You may lose Your money. However, as a responsible e-money issuer, Wirecard Card Solutions Limited ensures that once it has received Your funds they are deposited in a secure account, specifically for the purpose of redeeming transactions made by Your Prepaid Card. In the event that Wirecard Card Solutions Limited becomes insolvent funds that You have loaded which have arrived with and been deposited by Wirecard Card Solutions Limited are protected against the claims made by creditors

>> No.19979504

>>19979273
Can they touch that money at all? Where does it even go in this event? I would assume the bank would have to just move your shit over to Visa or something

>> No.19979739
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19979739

>>19979504
Wirecard lost 4 billions in germany and as a result the fca in the uk froze cards from wirecard from a shitton of services like payoneer.

Literally the entire global freelancing system is fucked up now due to this shit, people have woke up to see a year of their income frozen and even worse shit.