Client contracts to be switched to Neteller UK
This week, Neovia's Isle of Man-based subsidiary Neteller emailed its customers to let them know that it is switching client contracts to Neteller (UK) Limited from November 30, which will offer improved protection package to its users.
The email states the following:
"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."