Mansion offers online services

[bigboydan]

Anyone trying this yet? If so I'd be interested in hearing your experiences.

Ivobank offers online services

29 July 2008

LONDON, England -- (PRESS RELEASE) -– A new online bank catering for gaming businesses and enthusiasts has launched, offering fast and secure online payment and money transfer services.

Ivobank is believed to be the first independent bank to launch since the dotcom boom in 2001 and the first to be authorised and regulated by the Financial Services Authority (FSA).

Backed by the Sampoerna family, Ivobank plans to have one million customers within the next five years. Ivobank's Managing Director, Timothy Sawyer, said while the bank is open to anyone, it had been specifically designed with online gamers in mind.

"The online gaming industry has developed rapidly in recent years, but the financial services supporting it have not kept pace," Mr Sawyer said.

"Many online businesses and customers have been ill-served to date, resulting in relatively high costs and relatively low levels of service.

"Ivobank aims to plug the gap by offering instant and highly secure online payment services, combined with competitive interest rates,' Mr Sawyer continued.

On top of this, Ivobank allows customers to move money instantly from their account to friends and family overseas, making it very attractive for international money transfer.

"Ivobank is perfect for anyone who wants to shop online, but doesn't want to use a credit card,' Mr Sawyer concluded.

Customers have access to a virtual debit card - The Ivobank Virtual Card - which can be used to make purchases online wherever ********** is accepted.

Headquartered in London, Ivobank has been set up by a number of industry veterans that have held senior positions within the banking and gaming industries. Mr Sawyer was previously Chief Executive Officer of cahoot and was instrumental in the launch of the bank.

Customers can apply for an Ivobank account online at www.ivobank.com and begin taking advantage of the service today. It's free to sign up and requires no minimum deposit.

Online gaming merchants and businesses will benefit from:

· Competitive rates of interest on deposits held with Ivobank (up to 4.25% AER)

· All funds transferred by customers are indemnified and settled immediately 24/7

· Multi currency settlement with localised payment options

· Low transaction fees

· Trouble free enhanced customer experience for online gaming payments

Online customers will benefit from:

· Secure and fast online payments

· Competitive rates of interest on deposits held with Ivobank (up to 4.5% AER)

· Fast and free online payments to friends and family

· The Ivobank Virtual Card that can be used securely online wherever ********** is accepted

· 24/7 customer support via telephone, online Live Chat and secure email

[durito]

In order to open an Ivobank Account with Ivobank and register or use the
Services, you must have a valid email address, be at least 18 years old, a UK
resident and legally capable to enter into contracts.

damn it

[HeeeHAWWWW]

Had a quick look:

Normal ewallet transactions in/out seem to be free. Don't use direct card payments to a book though, those have approx 7% fees (can just transfer manually, then send to book with no fee though).

Deposits/wdrawals currently free:

http://www.ivobank.com/ivobankfees.html

Says 2% card deposit fee after January - hopefully that's still free for maestro debit cards, as moneybookers is. Seems bank transfer will always be free. Hopefully they'll join the fast Bacs scheme, so it's same day transfer.


Cute idea with linking a savings accounts - they apparently have auto options so it transfers to savings whenever your ewallet is above a certain level.

Like the idea of an ewallet with a card too, although would like to learn about fees there. It's a virtual card, so can't use it at ATMs.

1.7% currency conversion fee, similar to moneybookers' 1.75% and a lot better than neteller (2.6%?). Only one account is allowed, so no multiple accounts in different currencies (moneybookers VIP accounts can do this).


Sounds really nice overall, but like all ewallets it's only really useful once a critical mass of books accept it. You can of course use the virtual ********** to fund accounts, but ********** don't allow international reverse transactions back to ivobank (ie for withdrawals). Rather defeats the point of an ewallet if you can't withdraw back to it.

[durito]

i wonder how difficult it is to set up residency in the uk

[bigboydan]

i wonder how difficult it is to set up residency in the uk

I don't know sir, I never explored that option yet. However, I do remember reading that it can be done though.