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Notice their signature: boon. – a Wirecard brand Wirecard Card Solutions Limited boon. Service Postfach 31 05 44 04136 Leipzig Germany

chdaniel 6y ago
May not have to do with that. Other WireCard-powered companies are back on track. Most probably they'd be looking to switch, but I own a couple of Wirecard-cards and they're working
- zentiggr 6y ago
  You still trust enough to use them? Not being snarky, just given the way the company has blown up in holiday fireworks fashion, I'd be looking to balance transfer and go to anything else.
  - chdaniel 6y ago
    Don't stress, your question is very valid. I don't use them per se. I've just got a card from crypto.com — the other card I have that uses WC is Curve Curve is not my main card, but as for the crypto.com, Wirecard doesn't hold their funds.
  - avianlyric 6y ago
    Depends what country you’re in. In the UK at least the rules and regs makes it very hard for you to steal customer funds. The money needs to be stored in a segregated account held at a real bank, who is then responsible for making sure that account isn’t abused. And if you’re bank offering these types of accounts, then you’ll have the regulator watching your every move to make sure you’re not misbehaving.
- Reason077 6y ago
  They're not just Wirecard-powered, they are Wirecard.
- saos 6y ago
  Yup. Curve made the switch away pretty well
jonathanstrange 6y ago
Regarding that, may I ask slightly off topic, since I probably missed several Wirecard posts on HN: Can anyone explain to me how it is possible to make 1.9 billion Euro disappear, or even somehow account them wrongly in case they never really existed? This seems so incredible to me, given how my bank checks every cent when I do a wire transaction. Isn't there some constant accounting and auditing when you handle such amounts of money? Shouldn't it be immediately clear to anyone who checks the transactions where the money went and if it was there? And aren't there also electronic safeguards for suspicious transfers and so on?
- the-dude 6y ago
  ~2B is peanuts among accounting scandals. In NL we had our flagship grocery chain inflate the numbers by ~10B in 2003.
  - ArnoVW 6y ago
    Parmalat invented 15 billion euros, between 1990 and 2003, having an annual revenue of 5 billion. Everything started breaking down only when they defaulted on a 150 million dollar bond, despite reporting 4 billion in liquid assets assets. https://www.econcrises.org/2016/11/29/parmalat/ https://www.econcrises.org/2016/11/29/parmalat/
- avianlyric 6y ago
  Yeah there is. Unfortunately checks and balance don’t tend to work very well when the people operating them, are the same as the people committing the fraud. Eventually it was an external audit that caught them out. Also the 1.9 billion didn’t really disappear, it never existed in the first place, so there wasn’t really anything to misplace.

chdaniel 6y ago

May not have to do with that. Other WireCard-powered companies are back on track. Most probably they'd be looking to switch, but I own a couple of Wirecard-cards and they're working

zentiggr 6y ago
You still trust enough to use them? Not being snarky, just given the way the company has blown up in holiday fireworks fashion, I'd be looking to balance transfer and go to anything else.
- chdaniel 6y ago
  Don't stress, your question is very valid. I don't use them per se. I've just got a card from crypto.com — the other card I have that uses WC is Curve Curve is not my main card, but as for the crypto.com, Wirecard doesn't hold their funds.
- avianlyric 6y ago
  Depends what country you’re in. In the UK at least the rules and regs makes it very hard for you to steal customer funds. The money needs to be stored in a segregated account held at a real bank, who is then responsible for making sure that account isn’t abused. And if you’re bank offering these types of accounts, then you’ll have the regulator watching your every move to make sure you’re not misbehaving.
Reason077 6y ago
They're not just Wirecard-powered, they are Wirecard.
saos 6y ago
Yup. Curve made the switch away pretty well

jonathanstrange 6y ago

Regarding that, may I ask slightly off topic, since I probably missed several Wirecard posts on HN: Can anyone explain to me how it is possible to make 1.9 billion Euro disappear, or even somehow account them wrongly in case they never really existed? This seems so incredible to me, given how my bank checks every cent when I do a wire transaction. Isn't there some constant accounting and auditing when you handle such amounts of money? Shouldn't it be immediately clear to anyone who checks the transactions where the money went and if it was there? And aren't there also electronic safeguards for suspicious transfers and so on?

the-dude 6y ago
~2B is peanuts among accounting scandals. In NL we had our flagship grocery chain inflate the numbers by ~10B in 2003.
- ArnoVW 6y ago
  Parmalat invented 15 billion euros, between 1990 and 2003, having an annual revenue of 5 billion. Everything started breaking down only when they defaulted on a 150 million dollar bond, despite reporting 4 billion in liquid assets assets. https://www.econcrises.org/2016/11/29/parmalat/ https://www.econcrises.org/2016/11/29/parmalat/
avianlyric 6y ago
Yeah there is. Unfortunately checks and balance don’t tend to work very well when the people operating them, are the same as the people committing the fraud. Eventually it was an external audit that caught them out. Also the 1.9 billion didn’t really disappear, it never existed in the first place, so there wasn’t really anything to misplace.