Important News about the Zenbanx Account.
To our valued customers and applicants:
When Zenbanx was acquired by SoFi in February, we promised to keep our customers and applicants apprised of any changes to the Zenbanx account. 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").
Here at SoFi, we are working to build out an expanded line of revolutionary consumer financial products including a new account to be launched in the near future.
• What does the closure mean for customers?
• Important details and dates
• SoFi Press Release
• How to close your Zenbanx account
What does the closure mean for customers?
Customers have our assurance there will be no changes in the Terms and Conditions of
their Zenbanx Account between now and the Account Close Date.
Until the Account Close Date, customers can:
• Transfer your U.S. Dollars (USD) position to your linked account;
• Send funds to your friends and family.
We encourage you to close your Zenbanx account before August 31, 2017.
Important Details and Dates
As of July 1st, 2017, our interest rates will be changed to 0% for all currencies. If
earning interest on the funds in your Zenbanx Account is important to you, we
encourage you to close your account.
As of August 25, 2017, deposits will no longer be accepted.
As of August 27, 2017, debit card transactions will no longer be accepted.
Zenbanx accounts in the U.S. will be closed, effective August 31, 2017 at 12AM ET ("Account Close Date").
Send money transactions that have not been picked up by the receiver by 12AM ET on the Account Close Date will be reversed and the balance will be transferred to the customer's linked account.
At 12AM ET on the Account Close Date, 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.
For customers without a verified linked account, a check will be mailed to the address of record for their Zenbanx Account.
Close your Zenbanx 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.
No Linked Account?
• Close your non-USD currency positions (if applicable):
On the account overview screen, tap or click each non-USD currency symbol then choose “Close Position”. If you have a balance in your other positions, you’ll be prompted to transfer each balance. Make sure you transfer each balance to your USD position.
• Send your total USD balance to yourself or a friend:
Tap or click “Send” from the menu. Select USD for the currency and enter your entire balance (including cents). You can send the money to a friend or to yourself using a different email address than the one linked to your Zenbanx account.
That’s it! Once your Zenbanx balance is zero, we’ll do the rest and close your account for you. If you still have an account balance after the Account Close Date, a check will be mailed to the address of record for your Zenbanx Account.
Do you still have questions or concerns?
• Read our FAQ
• Email: email@example.com
• Phone: (877) ZENBANX, (877)(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