NOTE: This article is relevant only to customers in most countries of the EEA (except for Austria, Germany and Norway).
We understand that you may feel uneasy about keeping your funds with MuchBetter due to the service disruption resulting from the Bank of Lithuania revoking PayrNet’s EEA license, but we want to assure you that we did and will continue to do everything we can to ensure you have access to your funds at all times.
As a matter of fact, as long as EEA-eligible customers (where we are relaunching our services) accept our new Terms and Conditions, MuchBetter is settling the balances owed to them by PayrNet using our own funds.
Throughout the disruption, we have been working behind the scenes to see if there was a way MuchBetter could release your funds back to you from our own reserve. We have also been liaising with other e-money institutions licensed in Europe to avoid this situation happening again.
We want to assure you that MuchBetter puts the customer first and while the disruption was completely out of our control, we are putting measures and safeguards in place to reduce the risk of anything like this happening again.