Why My Digital Wallet Account Got Blocked?

iCard gets into the hands of thousands of people every day not only because it delivers innovative payments, virtual and debit cards but also powerful money saving features for 0.00 EUR a month. 

The account opening from the comfort of your home, wherever in the European Economic Area you are, comes with its unique challenges for our team. 

As a licensed e-money institution that provides accounts to Europeans in 30+ countries, we need to make sure we comply with anti-money laundering policy and client security regulations. 

We employ a wide set of automated and semi-automated techniques to prevent illicit use of funds. 

Don’t rush contacting customer support 

Did you enter a wrong passcode?

If you are temporarily locked out of your account for entering a wrong password 3 times, you can easily regain access by entering your phone number and the SMS code that we send. Alternatively, you can use the “Forgotten passcode” option to get an email with instructions on how to change your iCard access code.

Did you see this message?

Did you do a transaction that might be unusual or suspicious, like trying to add money to your wallet with a saved card that has expired? Maybe someone sent a large iBAN transfer to your account from another continent?

Give it a bit of time for our compliance team to contact you by email – usually within 30 to 60 minutes.

Our AI likely detected a suspicious activity and a human needs to intervene

Remember when you opened your digital wallet account, we asked for your ID. This is part of the so-called Know Your Customer or KYC process. 

Besides just cross-checking with official intelligence partners, we need to maintain the security of our users’ money.

We need to make sure you are not on any watch lists and that your money in iCard comes from legitimate sources. 

The million transactions we monitor every year (top-ups, withdrawal and payments) go through pattern monitoring that can sometimes incorrectly flag an account for locking and additional compliance checks.

Our security agent will connect you to resolve the situation quickly

We want to work in a fair environment and it’s our duty to not let the bad guys in.

So when you get an email (or sometimes a call) from us, you should expect a request for further information like a utility bill, bank statement, formal explanation or other documents that can prove you are who you say you are or prove the source of your funds. 

At the end of the day, if you are a legitimate iCard user, getting through this inconvenience might still be less time consuming that doing walk-in visits to open normal bank account or make transfers at the bank branch.

How long before my account is active again?

We could not tell precisely, because it varies case by case.

Keep in mind that some instances are more complex than others.

It might take time to collect and send us the needed proofs.

Swift response might not always be an option on our side because we occasionally need to obtain security information or opinion from external partners. 

The following rule applies with iCard: if you have nothing to hide, your account stays active.

Money safety is everyone’s best interest

Please accept our apologies if you are a legitimate iCard user with a verified Standard account and your account got blocked for security reasons.

We work hard to keep our network and users safe and appreciate your patience if you experienced any inconvenience. 

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