WorldRemit assures customers of no exposure to WireCard
London - June 29, 2020 - WorldRemit CEO Breon Corcoran said, “We have followed last week’s news of €1.9 billion missing from the accounts of the German company Wirecard. We want to reassure our customers that we do not use or have any funds stored with Wirecard and WorldRemit is not affected by WireCard’s recent failure.
The safeguarding of customer funds globally is an essential part of the way in which WorldRemit operates. This is not only to comply with our regulatory requirements but because we recognise the fundamental importance of trust in the relationship between our customers and us. WorldRemit works with blue-chip banking partners and client funds are held and managed through bank accounts held in JP Morgan, Barclays, and Silicon Valley Bank. WorldRemit has a strong balance sheet, including nearly $100 M in unrestricted cash. Additionally, WorldRemit is backed by strong investors such as Accel, TCV, and LeapFrog Investments.
When WorldRemit’s 5 million current customers or future customers use our money transfer service, their money is safe and secure. Our customers are of the utmost importance to each of us at WorldRemit. Everything we do is done to ensure that our customers know when using WorldRemit their money is safe and will securely get to their loved ones to enable them to achieve their individual goals.”