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08 July 20142 Comments by Jon M

Is iCard Mobile in administration?

Update: Subsequent to publishing the below article, iCard’s insolvency notice was published in The London Gazette. So it’s now verified – as of 27 June 2014, iCard Mobile Limited have been in administration.

icard mobile administration

The mobile industry is awash with rumours that cut-price MVNO iCard Mobile is going out of business potentially leaving thousands of customers stranded. The budget virtual network is struggling with huge debts and insider sources are even claiming the company might already have gone into administration.

Our investigations have been unable to confirm anything so far, but iCard have looked a bit wobbly recently. The network was launched in September 2010 and is run by an established entity called iCard Telecom.

However, some of our readers reported that their website was completely down earlier in the week and others claimed that their calling cards suddenly stopped working. They also recently ended their free calls deal without any notification to customers. Whatever the true situation is behind the scenes, it appears that there might be major cashflow issues.

Other sources have made unconfirmed comments that their money woes have forced the network into receivership due to approximately £12 million of unpaid debts. The last accounts published by iCard do not confirm this yet even though their cash reserves were stated to stand at a paltry £10,000 against liability of almost £3 million.

Following the rapid collapse of OVIVO earlier in the year, it’s clear some virtual networks are struggling to surviving in the competitive UK market. Having said that, we’ve been unable to get any official comment from iCard Mobile so far so it must be stressed that this is just a rumour and nothing has been officially confirmed yet.


2 Responses to “Is iCard Mobile in administration?”

  1. KE 31 August 2014 at 05:44 Permalink

    Beware!! After almost 2 years of successful calling at honest reduced rates, I just learned that you cannot trust the rates posted on their Website!

    First, despite what is still posted on this Website, the basic UK call rate is 8p per minute and the text rate 10p per page (other networks, call types, and locations will vary according to their convoluted rate structures). Even their FAQs link takes you to their complex and confusing rates.php pages. Seems they no longer wish to help their remaining customers.

    Worse, despite what iCard Mobile plaster over their own site, they are now charging 5p per minute to check your voice mails. Voice mail calls are no longer free of charge and probably have not been for several months (explaining how my credit disappeared so much more quickly despite no lengthy calls).

    I’m off to search for alternatives. I do hope I can at least transfer my number before the company finally goes under.

    Administration is one thing–they don’t always lead to bankruptucy and closure–conning customers is another!

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