Fast Recovery From Neteller On Card Issue

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New pre-paid rolls out end May and could be better than its predecessor

The Isle of Man-based e-wallet Neteller seems to have bounced back remarkably quickly from the sudden withdrawal of the Cirrus Maestro network, which forced the e-wallet to put a hold on the use of the Neteller Card.

Within a matter of days, Neteller has put together a replacement, advising customers that the first of a new suite of prepaid, reloadable debit and remittance cards for its customers in Europe and Asia Pacific would be ready for despatch by the end of this (May) month.

The first of these products, a new prepaid card, is tied to a customer’s Neteller e-wallet account, and can be used at over 24 million ATMs and Point-of-Sale (PoS) terminals worldwide.

The good news is that most of the charges levied are lower than before.

“The ability for our customers to access and use funds from their e-wallets at over 24 million online and offline outlets worldwide is very important to both them and us.” said Ron Martin, Neteller President and CEO. “As we continue to grow our business in Europe and Asia Pacific, we believe this new prepaid debit programme will allow us to open up new areas of business.”

The new prepaid card replaces the existing Neteller Card, frozen by the Cirrus Maestro withdrawal. The new card will offer customers more flexibility and significantly lower pricing than the previous card.

Benefits of the new pre-paid card are:

Re-loadable directly from the client's Neteller e-wallet account and in the same currency, therefore saving on foreign exchange fees

Can be used at over 24 million MasterCard ATM, point-of-sale retail, and internet sites worldwide

Significantly better pricing than previous Neteller Card

Available in all countries serviced by Neteller in same currency as the e-wallet account, except Canada and the US.

Importantly the new card will be available in multiple currencies and is tied to the customer’s e-wallet account, saving the consumer foreign exchange fees. Neteller expects the new prepaid card to be available to customers by the end of May 2007.

Customers will be notified as soon as the new cards are ready, but in the meantime Neteller is urging users to sign into their accounts, select the "Options" tab and then check that their addresses have not changed.

Additional information and pricing on the new prepaid cards may be found on Neteller's website at http://www.neteller-group.com/press/en/129.htm
http://web.neteller.com/content/en/about_the_neteller_card.htm