InterPayBank stops servicing payment cards

InterPayBank will stop payment card servicing and block cards on May 16.

Clients can use the money on their accounts and close accounts by November 16, 2014.

The step is taken due to a ban on attracting individuals' funds on accounts and deposits that was imposed on the bank on February 2014, Interfax reports.

On February 3, 2014, the National Bank of Belarus suspended for one year InterPayBank’s licence on attraction of the funds of individuals, who are not sole traders, on its accounts and deposits. The decision was taken due to the bank's failure to meet certain requirements of the legislation.

The bank's previous name was CredexBank. It was renamed as InterPayBank in January 2013 due to the US sanctions.