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Tuesday 14 June 2016

Customer update regarding WeRe Bank

Please exercise caution if you are contacted by, have had or are having dealings with WeRe Bank.

This organisation is not authorised by the Financial Conduct Authority and numerous financial institutions, councils, utility companies and other businesses will not accept cheques issued by WeRe as legitimate payment.

In addition, if you have any dealings with WeRe Bank you will not have access to the Financial Ombudsmen Service or Financial Services Compensation Scheme should you encounter any problems.

We would recommend you read this article from the FCA prior to undertaking any transaction with WeRe Bank.

Please note carefully the last line of the article: "We [The Financial Conduct Authority] believe that you are unlikely to be able to pay any of your debts using a cheque from WeRe Bank. Instead, you may end up with additional charges from your creditors for late payment. You could eventually be subject to other sanctions such as County Court Judgements or repossession proceedings."

We will not accept cheques issued by WeRe bank in payment of any sums due to us.