Update of EEA/SEPA about Credit cards outside EURO zone

amoon

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first, what are EEA and SEPA?

The European Economic Area (EEA) is the area in which the Agreement on the EEA provides for the free movement of persons, goods, services, and capital within the European Single Market, including the freedom to choose the residence in any country within this area. The EEA was established on 1 January 1994 upon entry into force of the EEA Agreement.[4]

Source: WIKIPEDIA


The Single Euro Payments Area (SEPA) is a payment-integration initiative of the European Union for simplification of bank transfers denominated in euro. As of July 2015, SEPA consists of the 28 member states of the European Union, the four member states of the European Free Trade Association (Iceland, Liechtenstein, Norway, and Switzerland), Monaco and San Marino.[3]

Source: WIKIPEDIA


The Update,

in October 2017, every Credit card company resident in Europe was forced to stop issuing credit cards, virtual cards and ask for more verifications for accounts outside Europe, to match the EEA/SEPA rules,

services:

  • NETELLER
  • SKRILL
  • ADVCASH
  • WIREX
sent the same email to their users saying:


We regret to inform you that starting today due to recent Mastercard policy changes Wave Crest Holdings, our card provider, is unable to offer plastic and virtual cards to users in countries outside the European Economic Area (EEA).

At the moment, we do not issue new Advanced Cash cards to countries outside the EEA/SEPA zone.

Existing cards issued to non-EEA countries will remain active for 90 more days, after which they will be blocked.

We are working to keep offering our cards to countries where we have the most users despite these policy changes. We will be able to tell you more about this at a later stage.

We apologize for any possible inconvenience in this regard.





 
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