Non-UK resident applications and accounts after 31 December 2020

Due to Brexit, we’ve had to take the tough decision to close all non-UK resident applications and accounts from midnight 31 December 2020, the deadline for the UK’s departure from the EU.

From that date any application and account with a non-UK registered address has been closed and you can no longer access it. If you still have a WeSwap Prepaid Mastercard© that was linked to the account, it won't work anymore.

We’re sorry that we have to stop accepting these applications and closed the existing accounts, it’s not a decision we’ve taken lightly. 

Most importantly, we want to say a huge thank you to everyone from outside the UK for taking an interest or signing up to WeSwap. 

Was I notified of this changes? 
Yes, as per our Terms & Conditions, we notified via email the accounts and applications owners 2 calendar months before any change of terms or account termination. We alerted all impacted WeSwappers on 31 October 2020 and the changes came into effect midnight 31 December 2020. 

What does that mean for me? 
If you signed up for a WeSwap account but never completed your application, your application was fully closed at midnight on 31 December 2020. 

If you had an account, your WeSwap card stopped working as of 11:59pm on 31 December 2020 and your account has been closed then. You are now unable to access your account, spend, swap, load or renew your card. 

What if I still had money on my card?
If you still had money on your WeSwap card, you can request a refund by getting in touch with us (more info on that below).

If you have funds in another currency, we’ll swap it for you for free and refund it in the currency you originally loaded your account with. 

Refunds are free of charge for up to 12 months from the 1st January 2021, but you’ll be charged a £5 fee if you request a refund more than one year after we close your account. 

My balance includes funds from a promotion, can I get them refunded?
You cannot. Per our promotional T&Cs, these funds are non-refundable.

What details do you need to request a refund? 
You can get a full refund for up to 6 years, after that you may lose your funds. To arrange a refund to your bank account please get in touch here or email support@weswap.com. We’ll need the following information

  • Your full name 
  • Your registered email address 
  • Refund amount (your account balance) 
  • The name of your bank (e.g. Barclays) 
  • IBAN 
  • BIC/Swift number 
  • Bank Branch 
  • PDF version of your current account bank statement, not older than 3 months, where your name and address details can be verified along with account details (IBAN & swift code, or account number and sort code, name of the bank)

What should I do with my WeSwap card now? 
Please cut your card through the magnetic stripe as well as the chip and dispose of it in a responsible manner. 

What will happen to my data once my account is closed? 
As a regulated financial product, we’re subject to strict legal requirements when it comes to what data we must retain following the closure of an account or cancelling of an application. 

We’re legally required to hold your information for 5 years following the date of the closure of your account in order to comply with our legal anti-money laundering obligations. This is set out in section 8 of our Privacy Policy. Your information will be stored securely and only accessed should it be required to fulfil a legal obligation (e.g. a request is made from one of our regulators or law enforcement). 

We’ll make sure that you are unsubscribed from any future marketing emails too. 

If you signed up for a WeSwap account, but you never completed your application, and therefore you don’t have an account, we can erase your data before that point. If you would like us to do this, please get in touch here or email support@weswap.com .  

Brexit has been around for a while, why did WeSwap not found a solution? 
Our Issuing Partner, IDT Financial Services Limited, had begun a licensing process within the EU/EEA and it was thought that the license would be ready in time. Unfortunately, however, this hasn’t been the case. 

Will I be able to register in the future? 
Fingers crossed. Our hope is that we’ll be able to resume services to our non UK residents in the future. We’ll make an announcement as soon as we have a clearer idea of when that will be.

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