A new online bank aimed for gaming businesses has opened, offering quick and reliable online payment and transfer services. Ivobank is the first independent bank to offer this type of service and the first to be certified and regulated by the Financial Services Authority (FSA). Located in London, England, Ivobank is the creation of several veterans in the banking and gaming industries. Ivobank expects to sign up one million customers in a period of five years, the bank’s Managing Director, Timothy Sawyer, said that even when  the bank services are available for any one who wants to use them, it had been specially intended for online gamers and gambling fans.

"The online gaming industry has developed rapidly in recent years, but the financial services supporting it have not kept pace. 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. Ivobank is perfect for anyone who wants to shop online, but doesn't want to use a credit card.”  Mr. Sawyer said.

Additionally, Ivobank let customers to transfer money instantly from their account to any overseas account, which also appeals for people looking for cheap and reliable international money transfer services.  Customers will have access to a virtual debit card called Ivobank Virtual Card, which can be used to purchase online in any store that accepts MasterCard. Customers can apply for an Ivobank account online with no cost and with out making minimum deposit. Online gaming merchants and businesses will get viable rates of interest on deposits held with Ivobank (up to 4.25% AER), also all funds transferred by customers are checked and settled immediately. Ivobank counts with multicurrency converters, low fees, and a customer support service available 24/7 via online live chat, mail and phone.