This page is for informing about the situation of PCSIL, one of external third party provider which maybe issued your card

PCSIL is authorised by the Central Bank of Ireland for the issuing of electronic money. As PCSIL shareholders decided to to be wound down, the Irish High Court on 17th January 2024 appointed Kieran Wallace and Andrew O’Leary of Interpath as Joint Provisional Liquidators for continuing the service of PCSIL until the 17th January 2025.

The key objectives of Interpath are to wind down the operations of PCSIL in an orderly manner. Based on current financial projections provided by PCSIL, PCSIL is solvent and Interpath are winding up PCSIL on this basis.

The back of your card (the same side as the magnetic strip) will include the words “PFS Card Services Ireland” or “PCSIL”. Alternatively, you can review the Terms & Conditions of your card.

Yes. You can continue to use your PCSIL card, to load and to spend funds as usual until 17th July 2024. After this date, you will be able to continue to spend funds up to 17th January 2025.

There is a possibility new limits loading will be introduced on PCSIL cards.

If your annually fees had been paid correctly and if your PCSIL card is not closed, we will honour our commitment to give you the continuation of the service you had paying for. Therefore, you will automatically be transfer and receive for free a replacement IBAN and replacement card NOT issued by PCSIL before 17th January 2025 , then your card issued by PCSIL will be automatically frozen.

Yes. All funds held by PCSIL are safeguarded in accordance with the Company’s obligations under the European Communities (Electronic Money) Regulations 2011. These funds will continue to be safeguarded. This means cardholder funds are ringfenced and held solely for the cardholders (i.e. the owner of these funds).

Yes. All card holder with a PCSIL card will be able to load additional funds onto their PCSIL card up to 17th July 2024.

the key objectives are as follows:

- Ensure an orderly wind down of PCSIL
- Minimise disruption to existing cardholders with a PCSIL card. Therefore, cardhold of a PCSIL card are being able to load funds until 17th July 2024 and spend funds 17th January 2025
- Treat cardholders fairly throughout the process by applying best industry and a careful communication strategy via distributors who hold relationships with cardholders.

Based on current financial projections provided by PCSIL, PCSIL is solvent and Interpath are winding up the company on this basis. This means that all creditors will be paid in full. All cardholders can either spend their funds as usual. Based on the current financial information available at this time, the JPLs expect the liquidation will be solvent. However, there is no guarantee at this time. The JPLs will continue to assess the solvency on an ongoing basis. Even if liquidation goes insolvent, we expect no impact on cardholder funds. Cardholders can continue to spend funds as usual.

NO.

VeritasCard, a brand of Klopercom, a European company and independent of its service providers and therefore has no connection with PCSIL which is only one of our product and service issuing service providers. Our business has existed for over a decade and continues with another service provider.

Since January 17, 2024, we no longer create accounts issued by PCSIL. Customers with access to the Veritas platform and a card purchased and issued by PCSIL before January 17, 2024 can continue to use their cards as normal. Customers who registered to the VeritasCard platform after January 17, 2024 will get access to the VeritasCard platfom, but account pre-order will NOT be issued by PCSIL, please note due to a large number of requests the delivery time may be longer than usual.

Interpath is performing its duties in line with the Companies Act 2014. As part of this, Interpath will be in regular communication with the Central Bank of Ireland (“CBI”) on the progress and strategy of the Provisional Liquidation. It should be noted that PCSIL remains authorised by the CBI and remains subject to E-Money regulations, the Consumer Protection Code and the Criminal Justice Act. Interpath is regulated by the Institute of Chartered Accountants in Ireland and the Provisional Liquidation is subject to the oversight of the High Court of Ireland.

Unless PCSIL is buying by another entity, the liquidation of PCSIL will likely run for a period of 18 months. However, use of PCSIL cards will be suspended on 17th January 2025.

We will update this page as much as possible. You can also visit the following website https://www.interpathadvisory.com/pcsil

No problem, you can continue to use your cards until 17th January 2025 and to load up to 17th July 2024.

If your annually fees had been paid correctly and if your PCSIL card is not closed, we will honour our commitment to give you the continuation of the service you had paying for. Therefore, you will automatically be transfer and receive for free a replacement IBAN and replacement card NOT issued by PCSIL before 17th January 2025 , then your card issued by PCSIL will be automatically frozen.

All cardholders of PCSIL card can continue to spend funds on their card subject to existing T&C’s up to 17th January 2025.

But if you don’t want to spend your funds till 17th January 2025., or if you don’t want to pay your next annual fees for receiving another card NOT issued by PCSIL, then you can simply close your card through your client interface, and then ask for a transfer of funds to another bank account held in your name. Please pay attention, for such refund you will need to provide a photo ID and proof of address. CDD/EDD requirements can be different for each cardholder and jurisdiction.

If your annually fees had been paid correctly and if your PCSIL card is not closed, we will honour our commitment to give you the continuation of the service you had paying for. Therefore, you will automatically be transfer and receive for free a replacement IBAN and replacement card NOT issued by PCSIL before 17th January 2025 , then your card issued by PCSIL will be automatically frozen.

Distributors are currently experiencing a high volume of calls, which may lead to delays in answering your call. Contact details for your customer services centre can also be found at the back of your card (the side with the magnetic strip) or on the contact page page of your distributor

This means that If your annually fees had been paid correctly and if your PCSIL card is not closed, we will honour our commitment to give you the continuation of the service you had paying for. Therefore, you will automatically be transfer and receive for free a replacement IBAN and replacement card NOT issued by PCSIL before 17th January 2025 , then your card issued by PCSIL will be automatically frozen.

Any cardholder funds held by PCSIL at the end of 17th January 2025 will transfer to the unclaimed dividends account in the High Court of Ireland. Any cardholders who wish to seek a refund at this time must contact the office of the High Court of Ireland.

Yes. Client support is working as usual. Expect some delay due to high volume of calls.

In the case of Correos cardholders, they should continue to direct their queries to the existing customer service team as they had done previously.

Yes, but your card will NOT be issued by PCSIL. All order and preorder from 17th January 2024 will receive a card from another issuer. Please note due to high volume of demand, delivery time could be higher than usual.

Yes. All cardholders with cards expiring during the first six months of the Liquidation will automatically be re issued with a new card. Any cards expiry post 17th January 2025 will not be re issued.

Yes. As part of the Liquidation Interpath may be introducing some restrictions and amendments to exiting PCSIL card policies. These include:

New card loading and balance limits will apply: Overall maximum card load and balance limits are being reviewed and will be confirmed shortly if any. Also any cardholder account with a balance of less than €10 and which has had no transactions in the preceding 12 months will be placed in spend only mode at the commencement of the Liquidation.

Yes, chargebacks and disputed transactions will continue per the normal process.

For 12 months you have no transactions on your PCSIL card and you have nil balance, therefore your PCSIL card will be frozen. This means you will not be able to use your card and you will not be provided with an additional card.

Nothing change . You have to provide requested documents as previously.

No. Charges will continue to be levied per your existing terms & conditions.

Transfers are not impacted by the situation of PCSIL which continues to operate normally until next year on January 17, 2025. Transfers are credited upon receipt as usual. The time it takes to receive a transfer depends on how it was issued. In general, the delivery time is 24 to 48 hours. However, some social organizations schedule their payments for D+7.

As usual, we invite you to create a ticket in your customer area. If you have problems connecting to your customer area, use the external ticket box available on our contact page. Don’t forget to specify your first and last names, telephone number and contact email

Please be extra vigilant about any emails, texts or calls you receive over the coming weeks and months. Fraudsters may try to exploit the situation by pretending to be Interpath, PCSIL or CBI and ask you to register your details or re-register your information. Fraudsters may try also insert a fake text into a thread of genuine Interpath or PCSIL SMS messages. PCSIL or Interpath will never send you texts or emails with a link to a login page or website which asks you to share banking one-time passcodes.