Coronavirus - we're here to help
From how to access your account online, scam awareness, your wellbeing and our community we're here to help.

Skip to main content
  • Register
  • Help
  • Contact us
  • Log out of your HL account

Morses Club confirms U Account customers can access accounts

Tue 30 June 2020 14:09 | A A A

No recommendation

No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.

(Sharecast News) - Morses Club confirmed on Tuesday that operations at subsidiary U Account have resumed as normal after the Financial Conduct Authority lifted its ban on trading by German payments processor Wirecard's UK business.

The company had said on Monday that customer accounts at digital current account provider U Account were temporarily suspended after the FCA froze the operations of Wirecard UK.

U Account customers are now able to access their accounts and transact as usual, Morses said in a brief statement.

"U Account is well progressed with its plans to launch a new banking service in the Autumn. In recognition of the considerable impact and distress the temporary freezing of its accounts has caused our customers, U Account is offering existing customers free banking services during July.

"Further information about the new banking service will be provided in due course."

It reiterated that U Account customers' money is held in a client account with Barclays UK, meaning the funds are ringfenced and were never at risk.

    The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.

    More AIM news from ShareCast

    No results were found