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Zenbanx Will Close Accounts in the U.S. Effective August 31, 2017

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https://www.zenbanx.com/
Zenbanx said: In conjunction with our partner WSFS, we’ve made a decision to close accounts in the U.S., effective August 31, 2017 at 12AM ET ("Account Close Date").
 

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rated:
Are there any alternatives? It was nice being able to hold forex and earn a little interest on it.

rated:
Zenbanx has already closed their Canadian bank, now they're closing their U.S. operation. This stinks. SoFi earlier this year bought Zenbanx for something like $100 million in stock, made an announcement that "exciting things" are coming, then several months later announce they're closing Zenbanx down, throwing all their customers under the bus, without even offering any sort of alternate banking service. Why in heck did they even bother buying the bank? SoFi has made it known that they want to expand into banking, but this can't be the way of doing it. They shouldn't have done this transition. There was no benefit.

If this was a merger of two large banks and the same thing happened (one bank buys another and then immediately shuts down the other bank and then closes all their customer accounts, telling them they have two months to withdraw all their money) people would be up in arms. There would be a government investigation.

This doesn't affect me much. I found this unique multi-currency account useful, but I'll live. I doubt many Zenbanx customers don't have accounts elsewhere.

I'm not impressed at all with SoFi. After this incident, I doubt I'll do business with them.

rated:
I got another notice from Zenbanx to get lost.  I have withdrawn all my money, except for about $150, from Zenbanx.  I'll withdraw the rest next month and/or use my debit card to spend the remaining balance.  They don't want me, so I don't want them.


ACTION REQUIRED - NOTICE #2: Please close your Zenbanx account.

Dear Worthless Customer,

On June 28th we emailed you to let you know that Zenbanx accounts in the U.S. will be closed, effective August 31, 2017 at 12AM EST. This is a reminder to close your Zenbanx account as soon as possible so your balance is automatically transferred to your linked account.You can close your account easily from the Zenbanx app or website:

  • In the Zenbanx App: Tap “My Info" in the top of the menu drawer, then tap the "Close Account" button which is located under "My Account". Follow the simple steps to close your account.
  • On the Zenbanx Website: On the Account Overview page, click on the "Close Account" button directly below the search field. Follow the simple steps to close your account.

When you close your account, all your foreign currency positions will automatically be converted to U.S. Dollars (USD) at our prevailing exchange rates and your total USD balance will be transferred to your linked account.

If you have any questions or concerns, please visit www.zenbanx.com or contact us at:

  • Email: ask@zenbanx.com
  • Phone: (855) ZENBANX (855) (936-2269) or +1 (650) 336-6500 for international calls (international charges may apply)
  • Mailing address: WSFS Financial Corporation. 500 Delaware Avenue, Wilmington, DE 19801

Sincerely,
The Zenbanx Team

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