LONDON (Reuters) - Online accounts provided by lender Morses Club have been frozen following action by British regulators against the UK unit of collapsed payments services firm Wirecard, the company said on Monday.
Morses Club said it was in talks with the Financial Conduct Authority to try and find a solution, but in the meantime its U Account customers would not be able to access their money and would only be able to view their account balances.
The lender said its U Account customers’ money was held in a ringfenced Barclays account and was not at risk.
Several other UK fintech firms have been forced to suspend services after Wirecard’s collapse.
Reporting by Iain Withers; Editing by Rachel Armstrong