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News from Dozens

Disruption to transactions and payments relating to Wirecard UK

26 June 2020

Around lunchtime today the FCA suspended the licence of our card issuing partner Wirecard Solutions Limited (Wirecard UK), without prior notice. This was followed by our card processor also unexpectedly and unilaterally blocking all accounts relating to Wirecard in any way. 

The original FCA notice relates to Wirecard and fintechs who were using Wirecard’s licence. We work with Wirecard for card issuing services only, are not using their suspended licence and are not an agent of theirs. Therefore, this issue ideally shouldn’t have affected us or our customers.

However as a result of the above actions from our partners, we’re sorry to report Dozens debit Mastercards and all payments have been temporarily suspended. This is not just a Dozens issue but has affected many other fintechs and card providers.

Please be assured that no customer deposits are held with Wirecard or any of its agents. Your money across all of our accounts remains absolutely safe and safeguarded by our own Emoney and Investment licences from the FCA.

Our number one priority at this stage is ensuring you have access to your money, so we will send you an update as soon as payments are live again.

In addition, unlike some of the other fintechs who are affected by this crisis, we also have a primary membership with Visa that lets us connect to their network directly, without an intermediary. We had planned to transfer over to our own Visa cards in Q4 2020, but will now look to expedite this together with Visa and our other partners. 

We will keep you posted on all updates and timelines as we work through this crisis with our partners. Rest assured the team at Dozens will be working through the weekend to get this resolved as quickly as possible.

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Dozens is the new home for your money. It helps you save and grow your money. By bringing together a current account, savings tools and investments – all in one place. Find out more

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