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Payoneer European Operation Disrupted due to IBAN Euro Accounts held in Wirecard Bank

Wolfgang Holzem




On Facebook, user posts are being deleted/moderated by Payoneer. Payoneer is one of the largest Payment system for Freelancer and Remote workers.

Official Statement by Payoneer

No need to worry. Your card works as usual & your funds are safe. We have alternative providers and will contact you in the event that we need to move you. 🙂

Worried users posted

  1. I contacted days ago and you confirmed that funds were not in risk but my Payoneer card stopped working today.
  2. Let’s just say your money could be gone, forever. Of course, you should file a lawsuit and get your money from Payoneer, it is them who owe you money.
  3. No updates, no communications and they new Wirecard was in trouble a week ago. Could’ve just ask us to withdraw our funds. Some people DEPEND on this money to EAT and feed their children!!!! SHAMEFUL!!!!!
  4. All funds and accounts are currently frozen, hope you have some cash saved up for the time being.
  5. I can’t login to my account >>>> is it a global issue ?
  6. Well, I wish you were right. But at this stage no one can tell for sure. There’s huge possibility that the money is gone.
  7. You should have warned your users that you were using Wirecard!! I had no idea, I thought it was your own prepaid card. If I would have known I would have transferred and saved my money as soon as I read about the Wirecard scandal.
  8. Yeah they literally don’t give a shit about us. A lot of people (freelancers mostly) had ALL their savings in Payoneer and now they can’t pay the bills. What a shitshow
  9. Why can‘t i log in into my account? When i click on the login button. The loading cirlce appears and then nothing happen and the login button appears again and again. No matter how often i click on it
  10. My card’s in USD, can’t use it, it says issued by Wirecard. Hopefully they’ll resolve this issue sooner rather than later.
  11. Terrible. My daughter’s entire money, thousands of USD is on her account. She was planning to start running ads for her new course in a few days’ time and desperately needs to make money.
  12. I’m an international freelancer i have all my money on Payoneer ! I need to withdraw right now I don’t have money to eat or pay bills ! And I’m the only provider for my family back home please help !! This is unbelievable
  13. For example, I have my money in my receiving account in euros, Wich is from wirecard ag, and I was only sending part of it to the card. What I don’t know is, if the balance in euros is safe because it belongs to a wirecard bank account
  14. Great news from @Payoneer telling me that I am unable to withdraw the funds on my card, nor receive new payments onto my card. SERIOUSLY! Freezing our money!! Exploding head
  15. Can someone report @Payoneer to the @FBI or something ? Because I sent $900 to my payoneer account and they say “your funds are not available right now because hurr durr cry me a river Wirecard stole our money and 2nd man in charge fled to China” Who is in for a MASS LAWSUIT ??
  16. The WireCard FRAUD is currently affecting remote workers and developers worldwide who just received an email from @Payoneer on a Friday evening that their cards are frozen and funds inaccessible. What great timing!

Former founder of and now reporting mainly on the Asia Pacific region and the global Coronavirus crises in countries such as Thailand, Germany & Switzerland. Born near Cologne but lived in Berlin during my early teenage years. A longterm resident of Bangkok, Udon Thani, Sakon Nakhon and Phuket. A great fan of Bali, Rhodes & Corfu.


Holvi Mastercard temporarily suspended due to Wirecard insolvency

Wolfgang Holzem




Holvi Mastercard has been temporarily suspended due to recent events in connection with the insolvency of Wirecard AG

How did this happen?

The UK Financial Conduct Authority (FCA) has suspended service for Wirecard Card Solutions Ltd (WDCS) earlier today. WDCS is a subsidiary of Wirecard AG and issues the Holvi Business Mastercard. This decision was taken by the FCA without any prior notice.

What does this mean for you?

All other functions of your Holvi account are still fully available. You can still invoice, receive and transfer funds. Please be assured that all Holvi customer accounts and funds remain safe, secure and accessible at all times – no Holvi accounts have been impacted by this event. This is because all Holvi customer funds are segregated and held in separate accounts in European banks in Finland, Sweden, Denmark, the UK and France.

No customer funds are held by Wirecard AG. Your money and Holvi account are safe.

Your trust is our top priority. We’re actively working on a solution and will continue to update as soon as possible.

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Wirecard : Informs Clients & B2B Partners about current Business Operations

Wolfgang Holzem




As announced on Thursday, 25 June 2020, the Management Board of Wirecard AG has filed an application for opening of insolvency proceedings on behalf of Wirecard AG with the competent Munich Local Court. With the filing of the insolvency application, Wirecard’s business activities will be continued. The Management Board is of the opinion that continuation is in the best interests of the creditors.

As a first step, the court has commissioned the Munich lawyer Dr. Michael Jaffé as an official expert. Whether insolvency proceedings will be opened is still under review. The Management Board of Wirecard AG expects a provisional insolvency administrator to be appointed for Wirecard AG shortly.

The business operations of the Group companies ( including the licensed units are currently ongoing. The parent company performs some central functions for the subsidiaries. As previously reported, it is being continuously reviewed whether insolvency applications also have to be filed for subsidiaries of the Wirecard Group. With the exception of a small development branch office, no insolvency applications have been filed by Group companies at present.

Wirecard Bank is currently not part of the insolvency proceedings. the electronic funds transfer of Wirecard Bank are not affected. Payouts to merchants of Wirecard Bank will continue to be executed without restrictions. Further information on Wirecard Bank AG can be found at The licensed legal entities, and where appropriate, Wirecard AG, remain in close contact with the respective regulators. Furthermore, we are in constant contact with the credit card organizations.

Wirecard Card Solutions Limited, headquartered in Newcastle, UK, has suspended its business operations due to an order issued by the competent supervisory authority, Financial Conduct Authority. The company has discussed measures with the authorities. The measures are being undertaken and will hopefully enable it to continue operations.

The TPA business in question is still under review. The newly appointed CEO of Wirecard AG, James H. Freis, Jr., took a new approach to investigating the known allegations immediately upon taking office. Among other measures, a number of new advisors were commissioned to ensure neutrality and, in particular, independence from the former Management Board members of Wirecard AG. The clarification efforts will, of course, continue even after the filing of the application for the opening of insolvency proceedings.

Iris Stöckl
VP Corp.Com./IR
Tel.: +49 (0)89-4424-1424
ISIN DE0007472060
Reuters: WDI.GDE
Bloomberg: WDI GY

Document pulled via Reuters Terminal by Wolfgang Holzem on behalf of Dr. Robert Bowitz, accredited by the German BDP
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Deutsche Bank is considering taking over Wirecard Bank





At the beginning of the week it still looked as if Wirecard’s Bank would also go into bankruptcy because too much customer money had meanwhile flowed out – now it is becoming clear that Deutsche Bank could take over in whole or in part. The Bank is examining possible financial aid in coordination with BaFin, the insolvency administrator of Wirecard AG and the management board of Wirecard Bank, a spokesman said.

According to German media reports, at least one financial investor has also expressed an interest in Wirecard Bank.

The financial supervisory authority Bafin had appointed the Bundesbank as a special representative at Wirecard Bank, who should ensure that no funds flow to Wirecard AG and that business continues.

Wirecard Bank has a full banking license and can offer all financial services. Since the beginning of the year, it has been promoting 0.75 percent interest on checking deposits on the “Boon Planet” banking app, while other institutes hardly pay any interest or even charge fees for fixed deposits.

If the bank had gone bankrupt, the deposit guarantee fund of the private banks would have compensated customers who did not withdraw their money on time.

On the balance sheet, Wirecard Bank is not a heavyweight. According to internal sources, at the end of March it had total assets of 1.6 billion euros, which roughly corresponds to a medium-sized savings bank. The equity at the end of the quarter was 205 million euros and he bottom line was a surplus of 4.7 million euros at the end of the quarter, after 40.8 million in the same quarter of the previous year.

What motives drive Deutsche Bank is still unclear. “We are one of the largest banks in the payment traffic worldwide and that is one of our strengths, a real core business area,” Deutsche Bank board member Fabrizio Campelli told Handelsblatt in an interview published on Friday and “if there are opportunities to strengthen ourselves, we will look at them.”

Deutsche Bank may be targeting Wirecard Bank’s corporate customers in payment transactions, although the first have already turned away. Since the beginning of July, for example, the discounter Aldi Süd has no longer processed credit card payments through the insolvent payment service provider, but through the provider Payone, as the company explained on Thursday. 

The cooperation with Wirecard Bank has since been limited to business with the Aldi gift card. But this has no consequences for customers.

The connections between Wirecard and Deutsche Bank are complex anyway. Last year, on the initiative of the Wirecard Group, there were even informal merger talks with Deutsche Bank, which, however, broke off quickly as Bloomberg news agency reported first. In addition, the bank temporarily granted company founder Markus Braun a private loan of EUR 150 million secured with Wirecard shares.

In addition, one of the auditors, who was responsible for checking the Wirecard balance sheet at EY in 2017, switched to Deutsche Bank in 2018 as chief accountant.

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