Liting of the suspension has allowed customers of Morses Club’s U Account to get access to their cash again
The suspension of Wirecard’s UK business has been lifted by the Financial Conduct Authority allowing it to resume payment activities and meaning many UK households access to cash that had been temporarily blocked.
The UK financial watchdog had restrictions on the Germany payment company’s UK arm after its dramatic collapse in recent days.
Liting of the suspension by the FCA has allowed the resumption of ‘s () U Account, which had been frozen on Monday.
U Account customers now have full access to cash, which was previously frozen, albeit ring-fenced in a safe Barclays UK account.
Morses Club has offered its U Account customers free use of the previously affected U Account accounts in July as compensation for the issue.
Broker Finncap said this would help “to mitigate any negative impact and ensuring the relationship with customers remains strong”.
Read More: Wirecard UK arm has suspension lifted by regulator