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Valued NETELLER Member,
On June 6, 2005 we will introduce three important changes to your NETELLER Account. These changes are required following the authorisation of NETELLER (UK) Ltd by the Financial Services Authority (FSA) of the United Kingdom to operate as an Electronic Money Issuer. NETELLER (UK) Ltd is currently one of a few firms authorised by the FSA to issue electronic money in Europe. As a regulated firm, NETELLER can now offer its members a higher standard of service through:
Increased Protection of Member Funds. NETELLER (UK) Ltd must hold sufficient liquid assets to be able to redeem all e-money issued to its members.
Enhanced Consumer Protection. NETELLER (UK) Ltd had to demonstrate to the FSA that the firm: a) observes proper standards of market conduct; b) appointed key management personnel that have been approved by FSA as “fit and proper”; c) use effective risk management systems; and d) have in place efficient customer complaints procedures.
Maintaining Highest Levels of Service. NETELLER UK Ltd is subject to regulatory supervision by the FSA to ensure that our procedures, systems and controls continue to operate effectively and for the benefit of our members.
This email describes the changes to your NETELLER Account and the actions that are required from you.
New Terms of Use Agreement. We are introducing a new Terms of Use agreement and new Privacy, Complaints and Account Limit policies to comply with relevant European financial and consumer protection regulations. To continue using the NETELLER service, you must accept the new Terms of Use agreement. To do this simply sign in to your NETELLER Account after June 6th and follow the instructions. The process is fast and free of charge. If you choose not to accept the new Terms of Use agreement, your use of your NETELLER Account will be limited to withdrawals only.
New Account limits. In order to comply with European anti-money laundering regulations, we are introducing a maximum limit on the balance that can be held in your NETELLER account, as well as minimum and maximum limits on the amounts that can be transferred, deposited or withdrawn. These limits vary based on the type of NETELLER Account that you hold. There are now three types of NETELLER Account available to you:
Standard Account - allows a maximum account balance of USD1,900 (EUR 1,500 or GBP 1,000 depending on the currency of your account).
Enhanced Account - allows a maximum account balance of USD19,200 (EUR 14,500 or GBP 10,000).
Premier Account - allows a maximum balance of USD48,000 (EUR 36,300 or GBP 25,000).
Initially, your NETELLER Account will be set to “Standard”. You can upgrade your Account free of charge at any time by clicking on the “Upgrade Account” link in the QuickLinks section of the Accounts page.
Funds Withdrawal to your Bank Account. You can now withdraw funds directly to your Bank account. To do this you need to register your personal Bank account with NETELLER. Click the “Register Bank Account” link in the QuickLinks section of the Accounts page, and follow the instructions. You will need to provide your bank account information, so please have this ready. Please note that you can register your own personal bank account only - company or business bank accounts are not accepted.
We hope you take advantage of the benefits offered by these changes as you continue to use NETELLER services. Until then, thank you for choosing to use NETELLER.
If you have any questions about these changes to your NETELLER Account, please contact NETELLER Customer Service.
NETELLER Customer Relations Team
About NETELLER
NETELLER operates a global online money transfer service that utilises and extends the existing international banking structure to provide a secure means of transferring funds worldwide. With over 1.5 million members, approximately 1,400 supporting online merchants, and $3.4 Billion in transactions processed in 2004, NETELLER is a leader in online payment services. NETELLER UK Limited, a wholly owned subsidiary of NETELLER plc is authorised and regulated by the Financial Services Authority (FSA) of the United Kingdom to operate as a regulated Electronic Money Issuer (FSA Registration Number 229737). NETELLER plc is listed on the London AIM market (Ticker: NLR).
NETELLER UK Ltd reserves the right to notify members of important legal information that may affect their NETELLER accounts. We are committed to protecting the privacy of our members.
If you no longer wish to receive communications regarding service updates or marketing information from NETELLER (UK) Ltd, click here to unsubscribe. Should you decide to unsubscribe, you will still continue to receive emails relating to your NETELLER account transactions.
Customer service is available 24 hours/day 7days/week via email or telephone.
Our toll free number is (00) 800-7767-6343 (available from the UK, France, Germany, Netherlands, Spain, Denmark, Italy, Norway, Sweden, Finland, Portugal, Greece, Poland, and Israel). In all other countries call +1-403-233-9466
You can also contact us by email at
support@neteller.com
Copyright© 2005 NETeller UK Ltd. All rights reserved. Designated trademarks and brands are the property of their respective owners.
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