Dear Partner,
Due to a change in our Operating Permissions, WaveCrest has taken the step of closing all of its Visa prepaid cards with immediate effect.
What does this mean for your program?
Whilst all Visa prepaid cards are now closed, your pre-funding account remains open and accessible to you although no further pre-funding deposits will be accepted. WaveCrest will work with you to arrange for the return of all funds held in your prefunding account and to facilitate the return of funds to our cardholders, either by returning them to you (via the prefunding account) or by transferring the funds to the cardholder's bank account. We will be contacting the cardholders directly in order to obtain their instructions.
Are your funds safe?
Your funds (and those of our cardholders) remain safe and are safeguarded in accordance with our legal and regulatory obligations. The change to our Operating Permissions only affects our ability to support cards on the Visa network and does not affect our business in any other way. We will continue to support all programs on the Mastercard network.
What happens next?
Due to this change in circumstances, we will be terminating your WaveCrest agreement over the coming weeks. However, we will be working closely with you to ensure that your funds are returned to you and, where applicable, your cardholders.
Due to a change in our Operating Permissions, WaveCrest has taken the step of closing all of its Visa prepaid cards with immediate effect.
What does this mean for your program?
Whilst all Visa prepaid cards are now closed, your pre-funding account remains open and accessible to you although no further pre-funding deposits will be accepted. WaveCrest will work with you to arrange for the return of all funds held in your prefunding account and to facilitate the return of funds to our cardholders, either by returning them to you (via the prefunding account) or by transferring the funds to the cardholder's bank account. We will be contacting the cardholders directly in order to obtain their instructions.
Are your funds safe?
Your funds (and those of our cardholders) remain safe and are safeguarded in accordance with our legal and regulatory obligations. The change to our Operating Permissions only affects our ability to support cards on the Visa network and does not affect our business in any other way. We will continue to support all programs on the Mastercard network.
What happens next?
Due to this change in circumstances, we will be terminating your WaveCrest agreement over the coming weeks. However, we will be working closely with you to ensure that your funds are returned to you and, where applicable, your cardholders.
