Neovia switching contracts to Neteller UK
Neovia's Isle of Man-based subsidiary Neteller has announced that it is switching client contracts to Neteller (UK) Limited from November 30, providing users with more protection.
The e-cash processor told customers in an email this week:
"As of 30 November 2010, your contract with Neteller Operations Limited will be with Neteller (UK) Limited.
"How this affects you:
"Because Neteller (UK) Limited is regulated by the Financial Services Authority of the United Kingdom (FSA), your funds will be safe-guarded in accordance with FSA regulation.
"You will now have access to the UK Financial Ombudsman Service should you have any complaints that are not sufficiently dealt with through Neteller's formal complaint procedure.
"Please note that the next time you sign into your account you will be prompted to accept the new Financial Services Compensation Scheme (FSCS) Policy."