This strategic decision is part of a number of changes we will be making over the coming months as we seek to offer better choice, added value and simplicity for our customers.
(PRWEB) March 24, 2010
MBNA has announced that from Wednesday, 31st March, it will stop issuing all new promotional cheques, standard credit card cheques and replacement cheques.
The decision is part of the company’s commitment to new industry standards of clarity, simplicity and transparency, highlighted most recently by the government and UK card industry agreeing a set of new changes to the rights of credit card customers.
Greg Reed, chief marketing officer for Bank of America Europe Card Services, which operates the MBNA brand, said: “Credit card cheques are still valued by some of our customers, however, we acknowledge that, increasingly, the majority of our customers are choosing to access their accounts by other means.
“Whilst it’s true that new legislation will change the way credit card cheques can be provided to customers, we have decided to go one step further and remove them altogether.
“This strategic decision is part of a number of changes we will be making over the coming months as we seek to offer better choice, added value and simplicity for our customers.”
Customers can access their credit facility by using their credit card, making a balance transfer or money transfer online or over telephone or withdrawing cash either at an ATM or over the counter.
Customers can order replacement cheques up to and including 31st March and they will be sent within seven working days. However, they will no longer be able to order any new or replacement cheques after 31st March.
Customers will still be able to use any cheques they already have or order before 31st March.
Customers are being informed about the decision through their statements in March and April, on MBNA’s online banking areas, and through promotional campaigns.
To transfer a balance or transfer money into a current account from 31st March customers can call 0800 0969133 or visit http://www.mbna.co.uk
About MBNA Europe Bank
MBNA Europe is a wholly owned subsidiary of Bank of America Corporation (NYSE: BAC) and is the recognized leader in affinity marketing. MBNA credit cards and related products and services are endorsed by more than 5,000 organisations worldwide.
For further information, contact:
UK PR Manager
Bank of America Europe Card Services
Tel: 01244 574136
Mobile: 07825 721118
Fax: 01244 672468