IvoBank Shutting Down?
September 14, 2009
One of the hardest things about playing at online gambling is knowing what banks to put your money in. With several governments around the world seeking to seize those funds that are earned by the online gambling community, it becomes a tough choice to decide what banks do business with. The various online gambling sites have to weigh the pros and cons before they settle on one bank for fear that that may be the one that the government hits next. With this in mind, many of the banks that service the online gambling community are having a hard time. They know that their clients are wary of putting money in them and have started to show the signs of the strain.
IvoBank is one of those banks. The bank has had a long history with the online gambling industry, and deals exclusively with those sites in Europe. However, the bank has been having some problems and has started refusing new online gambling customers. The bank said that they will no longer be accepting new retail or corporate customers, and they said that they would be giving more information as it becomes available to those existing online gambling customers.
They say that their current online gambling customers can withdraw their funds at any time, and that those funds with the bank are safe and secure. However, they are going through a time of transition and therefore do not want to accept new customers at this time. This of course is cause for concern among many online gambling companies some of whom have chosen to already remove their money.
Many experts say that they are concerned that this may cause a run on the bank, and that this will further are shake the foundation of the online gambling banking community.
