NETeller cancels its debit card option worldwide

NETeller cancels its debit card option worldwide


NETeller members worldwide will no longer be able to load their NETeller cards effective April 26 and use them to withdraw funds from ATMs as of May 2 2007.
'Due to the changes with NETeller card, the ability to transfer funds from a member account to the NETeller card has been restricted as of April 26, 2007 at 12 am (GMT) Members will no longer be able to load funds onto their card.' NETeller customer service said in a note distributed Thursday.
'The ability to withdraw funds already on NETeller card at ATM machines and point-of-sales (POS) terminals will not be affected until May 2nd 2007. As of May 2nd, your NETeller debit card will no longer work.' The note ends.
NETeller explained that 'The third-party provider for the NETeller Card has very recently advised that under the rules relating to the Cirrus/Maestro Network, it can no longer support those branded cards.'
NETeller non U.S. members can still withdraw funds via bank transfer and check. The peer to peer transfer option is also still available. The NETeller debit card was a major profit center for NETeller. Members were charged $2 for loading their cards and up to 3.8% for currency exchange where applicable.
Meanwhile the first hearing concerning the possible filing of charges against NETeller founders has been further delayed to May 16.

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