Ivobank offers online 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 MasterCard 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 MasterCard is accepted

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