Wirecard UK unlocks cash for customers

Beleaguered Wirecard to proceed with business after insolvency

Wirecard shares jump after company says business continues

The company said it was in talks with the FCA about its Wirecard Card Solutions Ltd unit and was hopeful that it will implement measures that allow it to resume operations. Wirecard also said it hoped its United Kingdom business, suspended by the Financial Conduct Authority on Friday, would continue trading after talks with the regulator. "However, we can not lift the restrictions without reassuring ourselves that the firm has been able to satisfy all our concerns for example that all clients' money is safe".

"We are maintaining pressure on the firm to resolve these issues which would allow it to operate under certain conditions", the FCA said.

Last week the FCA told Wirecard to halt its business after news that €1.9bn was missing from the accounts of the company.

In an internal note to senior partners on Friday, EY advised them to tell clients that the "objective" of the large worldwide fraud at Wirecard was to "deceive investors and EY". Wirecard-issued cards operated under e money and payment services regulations and this means the funds held on them is not protected by the Financial Services Compensation Scheme (FSCS).

An Post said there are around 50,000 cards in circulation. The company could not confirm the amount of money involved.

An Post said today that together with Mastercard, it has been working intensively throughout the night and this morning to have currency cards operational as quickly as possible.

Millions of cardholders will be able to use their Wirecard-issued cards again from today.

The cards can not now be used by customers in Ireland or overseas, until further notice. "We apologise for the inconvenience to our valued customers that the temporary suspension caused", the United Kingdom firm said.

No other An Post products, cards or services, are affected.

The FCA said written consent for Wirecard to continue providing payment services was granted on Monday and that restrictions would be lifted by Tuesday.

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