Wirex and brexit


#1

Hi,

It looks like the ghost of brexit is (again) haunting is. Based on what I read in the newspaper today, it looks like we are heading for a deal -at best- on goods and agriculture (if there will be any deal at all). This means, no deal on services, nor ffinancial services.

As the answer of the Pavel in the “ask your question to the CEO” video was not really very reassuring, I would like to ask wirex what exactly they are doing to make sure that we -customers in the EU- continue to have a service after 29/3/2019?

After all, the last thing I need is (again) to have my visa-card blocked because somebody somewhere did not do his/her work properly!!

Kr.


#2

Hi there,

Thanks for getting in touch! In regards to Brexit, no final decision has yet been made by the UK or EU in respect of how UK businesses can provide services into the rest of Europe post-Brexit. However, it is highly unlikely that there will be a “hard stop” on the provision of these services from March 2019 and in the worst case a “transition period” will apply, allowing UK businesses sufficient time to apply for licenses in Europe to ensure their businesses and their customers in Europe, are not affected.

More likely, due to the UK’s and Europe’s wider dependency on the UK’s financial services sector, an arrangement will likely be reached under the Brexit negotiations, to enable UK businesses to continue servicing their customers throughout Europe. To mitigate any adverse or unexpected outcome under the Brexit negotiations, Wirex is actively looking at licensing options elsewhere in Europe, to ensure we can continue to seamlessly service our customers in Europe, regardless of what is decided under Brexit.

If you have any more questions please don’t hesitate to get in touch.

All the best.


#3

Hi,

Thanks for your reply, but I must say I am not sure if the answer really reassure me completely.
If there is one thing that has become clear from the way the brexit has been handled up to now, is that it seams to be driven by political arguments and not by economics.

I’m not sure if terms as “highly unlikely” or "will likely be " … really mean to much.

What I did hope to have seen was wirex to come with a clear and public roadmap that shows that the company is completely ready with any possible senario … i.e. by march 2019.

Kr.