Collapse of Wirecard

I’ve had some constituents contacting me about having their payment cards or other banking services frozen following the collapse of Wirecard in Germany.

Wirecard is under investigation in Germany for possible accounting irregularities and its former Chief Executive Officer has been arrested. The company has filed for insolvency.

To protect the interests of UK customers, the Financial Conduct Authority placed a freeze on all funds held by Wirecard and its subsidiaries in the UK. This includes funds held by several different online payment companies. The freeze has now been lifted but some of the banks and financial institutions that use Wirecard have taken some time to restore their full range of services. This has meant that thousands of UK customers have been unable to get money out of their accounts.

I’m intending to write to the UK Treasury to ask what support they will be offering to people who have been left with no way of getting their own money out of their bank.

If you are a constituent and have had your account frozen because of the collapse of Wirecard please email me at peter.grant.mp@parliament.uk

Please do not send information about your finances to any of my social media accounts.

Inevitably there will now be leeches out there hoping to take advantage to scam you out of your money. Do not reply to any emails or online alerts that say they will help to get your money released or to get you compensation. Do not give out any personal information including account details to anyone who emails or phones you claiming to be from your bank. Hang up and call the police.

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