Was Transcash not working for you between 21 June and 28 July 2023? Don't panic. You were not alone. The great news is Transcash has resolved the situation with unprecedented speed and efficiency and is available and your codes and cards are working once again. The suspension of your preferred payment method only lasted a month, thankfully, and we sincerely hope that you have not been too badly affected by the situation. It’s true that the prepaid card market is everchanging, and sometimes sadly, the last to find out are the customers. But we are here to get you as up-to-date as possible regarding unexpected events like this one and offer you some useful alternatives.
Transcash is back in action, but what happened?
On June 21, 2023, Transcash, unfortunately, had to inform all its partners and many customers of the immediate halt in its services. It is important to note that Transcash was not responsible for this suspension. To better understand what happened, we need to go back to the issuer of the payment cards with which Transcash worked: UAB Payrnet. This financial player previously held the license enabling Transcash to issue bank cards and circulate e-money. However, due to a change in legislation, UAB Payrnet has had the unpleasant surprise of losing this financial license, which is essential to the smooth running of Transcash. But as we said, we are happy to report, Transcash is up and running again.
What this meant for Transcash customers
So what did this temporary halt mean for the user? Well, for 1 month, Transcash Cards were simply no longer operational. This meant that regular Transcash users could temporarily no longer top up, use or pay with their prepaid bank card. Fortunately, Transcash immediately looked for a solution to transfer its services and find a new issuer. The solution was found in just one month, whereas for other companies, it can sometimes take up to 1 year or more.
Advice to Transcash customers
To avoid unnecessary panic in the future and prevent the circulation of fake news, here is the advice we have given to Transcash customers in events like the one we saw occur:
Don't panic. The temporary suspension of your Transcash cards does not mean your money is lost. However, we advise you to take the following steps:
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Follow any official information and instructions provided by Transcash themselves.
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Look into your specific situation. Contact Transcash if you have not received an official statement from the company.
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Temporarily find an alternative to Transcash that suits your needs until the problem is resolved. Keep reading for our top suggestion.
PCS: The perfect alternative to Transcash
Other solutions are available! Transcash is incredibly convenient, but it is not the only way to pay online and in physical stores without a bank account. If you want to retain total control over your spending, true independence from traditional banks and greater security when making online payments, then the PCS card is the perfect alternative! Just like you would with Transcash, top up PCS online and use your card wherever Mastercard is accepted: online and in stores. You'll be surprised by the large number of outlets where you can top up your PCS. Don't wait, order your PCS Card and enjoy the flexibility of your new prepaid bank card.
Prepaid cards are our specialty
Now that you know a bit more about the unfortunate but quickly solved Transcash situation, we hope you feel well-equipped to hold on during these legislation changes. Ideally, with peace of mind and the perfect alternative to get you through. If you have any questions about your Transcash codes purchased on dundle, simply contact our Customer Support. If you're still looking for the perfect alternative, don't hesitate to take the plunge today and switch to PCS, because you're sure to enjoy its payment convenience and security just as you do with Transcash. For more options, take a look at our article on prepaid cards and we will be back with any updates and keep you involved every step of the way when it comes to the online payment world!
