In light of the recent news from Wirecard AG, we wanted to take the time to explain what it means for you and your account with us.
We do work in partnership with Wirecard Card Solutions Limited (Wirecard UK) for card issuing services, but only for card issuance – so no customer deposits are held with them. Therefore, there is no risk at all to your Dozens balances across products.
Furthermore, Wirecard UK is a UK subsidiary of Wirecard AG and is a FCA-regulated, separate and profit making legal entity in its own right. Therefore, at this stage our understanding is that even your Dozens debit card won’t be impacted.
We also have our very own primary membership of Visa now, and a full migration of all cards is on track for later this year – if we anticipate any impact to the cards already issued due to Wirecard, we will further expedite the migration. In any event, you will also always be able to make payments from the app.
Rest assured that we will continue to monitor the situation very closely and keep you informed as necessary.
Wishing you the best.