gCard (paypal withdrawal) service discontinued.

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Posted in » News, paypal - by Ades on January 16th, 2007

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gCard was a debit card that international paypal users could withdraw their funds to. Unfortunately they have discontinued their service in a very short notice and their website is inaccessible now. I myself a gCard user didn’t get any emails from them though, I might have accidentally deleted the email. I hope they will deal professionally and return the funds to the owners. Below is the email that gCard sent to cardholders.

Dear Cardholder,

We regret to inform you that all current card programs sponsored by CU-Connect
and North York Community Credit Union (our issuing bank) are being wound down on
a step-by-step basis. Unfortunately this includes all current gCards.

A copy of the Initial Order and other materials filed with respect to the CCAA
proceeding is available on the website of KPMG Inc., the Court-appointed monitor
of CU-Connect, at www.kpmg.ca/cu-connect.

The initial step is that as of 2:00 p.m. EST on January 5, 2007, no new card
activations and no new loads will be permitted. THIS INCLUDES ALL LOAD OPTIONS
AND ALL CARD CARD-TO-CARD TRANSFERS.
All loads received after this deadline will be returned to its remitter, cost of
return will be charged to the remitter.

All cardholders will be able to process ATM withdrawals until a time period not
defined yet (probably 30 days from today) and continue to access to their online
banking at bank.mygcard.com . If cardholders cannot fully withdraw their
funds within the allotted time period, we will work to ensure that the issuing
bank will return all balances directly to the cardholders.

Unfortunately we received this announcement from CardOne Plus (the banking
platform) only today, and were not able to inform you before. We are surprised
at the short notice, and are sorry for the inconvenience caused.

We are in the process of launching a new card which is scheduled to be available
by the end of January/beginning of February, 2007. At this time we will replace
your current gCard by a new one.

Sincerely,
gCard Team
Web: www.mygcard.com


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One Response to “gCard (paypal withdrawal) service discontinued.”

  1. By hanafi on Aug 3, 2007

    this is interesting

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