Important News about the Zenbanx Account.

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  • SoFi Logo

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 DUCA Financial Services, we’ve made a decision to close accounts in Canada, effective June 30, 2017 at 12AM EST ("Account Close Date").

Here at SoFi, we are working to build out an expanded line of revolutionary consumer financial products and hope that we can serve you again in the 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 use their Zenbanx Account and Debit Card as usual:

• Transfer your Canadian Dollars (CAD) position to your linked account;
• Withdraw or spend your balance with your Zenbanx Debit Card;
• Continue to send funds to your friends and family.

We encourage you to close your Zenbanx account before June 30, 2017.

Important Details and Dates

As of June 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 close your account

As of June 23, 2017, deposits will no longer be accepted.

Zenbanx accounts in Canada will be closed, effective June 30, 2017 at 12AM EST ("Account Close Date").

Send money transactions that have not been picked up by the receiver by 12AM EST on the Account Close Date will be reversed and the balance will be transferred to the customer's linked account.

At 12AM EST on the Account Close Date, all your foreign currency positions will automatically be converted to Canadian Dollars (CAD) at our prevailing exchange rates and your total CAD balance will be transferred to your linked account.

For customers without a verified linked account, a cheque 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:
Click on the avatar beside the "Sign Out" link, then click the "Close Account" link directly below your profile picture. Follow the simple steps to close your account.

When you close your account, all your foreign currency positions will automatically be converted to Canadian Dollars (CAD) at our prevailing exchange rates and your total CAD balance will be transferred to your linked account. If you do not have a verified linked account, a cheque will be mailed to the address of record for your Zenbanx Account.

Do you still have questions or concerns?

• Read our FAQ

• Email: ask@zenbanx.com

• Phone: (877) ZENBANX, (877)(936-2269), or +1 (650) 336-6500 for international calls (international charges may apply)

• Mailing address: DUCA Financial Services Credit Union Ltd. 5290 Yonge St, North York, ON, M2N 5P9

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