Transporters locked out of their Curve and Holvi Bank Accounts

The Wirecard scandal has left UK companies like Curve and Holvi, as well as Pockit, U Account and Card One, frozen by the Financial Conduct Authority (FCA).

This has blocked thousands of prepaid cards and stopped customer’s access their own money. The issues might affect several Delivery Quote Compare transport provider.

What is the Wirecard Scandal?

The German financial technology company Wirecard revealed a huge £1.7 billion was missing from it’s balance sheet the company’s. The CEO resigned, was accused of fraud and was arrested. The company filed for insolvency as a result.

On Friday, June 26, FCA froze all of Wirecard’s UK activities. They did this “in order to further protect customer money” from German creditors.

Because Wirecard supplies services to Curve, Holvi and numerous other online bank accounts, all of their customers have been caught up in the scandal too.

How have small couriers and transport companies been affected?

Lots of small companies, including those in the logistics sector, use separate online bank accounts for the day to day running of their businesses. Ones who use Curve or Holvi have no way of carrying out basic tasks.

Transport providers with a Curve or Holvi online bank account cannot make payments, receive payments or use their MasterCard cards.

Customers cannot pay for any delivery services if you use one of these accounts and owner operators cannot pay for vehicle insurance or expenses.

What can transport providers do now?

The FCA advise you to contact your card provider for advice and support as your money remains locked away. Due to the high traffic to their customer support channels, you might have to wait to get a reply.

Payments made into your account before Friday have been frozen. Payments made since like delivery charges will bounce back to your customer’s account. You need to let them know you can set up an alternative.

Direct debit payments will not leave your account as scheduled so you should notify whoever you are paying such as insurers or rental companies.

You also need to find new payment methods for your customers right away. Cash will do as you look for a new business account.

What other accounts can you use?

Suits Me and Wirecard are not affiliated and our services remain totally unaffected. A Suits Me account applications takes less than 10 minutes, doesn’t require any credit or National Insurance checks, and are open to anyone who needs a new business account fast.

You can accept payment from customers within minutes using your new sort code and account number.

Open a new Suits Me account today and move funds into it as soon as it’s activated. You’ll receive a new Visa debit card in the post within 3-5 working days.

Author Bio: Peter East is a professional content writer for Suits Me. He has training in BA Journalism and has an interest in political and data journalism. When not on the lookout for new stories he’s been developing a new podcast

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