Ziglu "closing down" (most functions)

Banking
1

Just received the following and cashed out my “fiat” (I hate that word) currency. I have about 30 quids worth of Crypto left I will probably also withdraw.

Hi Richard,

We’re making some temporary changes to the way that you are able to deposit and withdraw funds from your Ziglu account.

What’s changing

From 30 April 2023, we will be pausing our Ziglu debit card feature. This will mean that you will no longer be able to use your Ziglu debit card from this date.

In addition, from 30 April 2023, you will only be able to make payments to your Ziglu account from, or withdrawals from your Ziglu account to, an external account in your name.

We will no longer be permitting customers to make inbound payments to your Ziglu account or outbound payments from your Ziglu account to an external account that is not in your name. The external account must be in the same name as you have registered with Ziglu.

There are no changes to any of our other services.

What do I need to do?

Card

If you have an active Ziglu debit card no action will need to be taken to deactivate your card, we will do this automatically on 30 April 2023.

If you have any subscription or recurring automatic payments that use your Ziglu debit card as payment, you will need to update your payment information to avoid any service disruptions.

Deposits & withdrawals

If you already deposit and withdraw money from your Ziglu account using an external account in your name, you will not be affected by these changes.

If you currently receive money from another individual or business into your Ziglu account, you will need to make new arrangements for the receipt of those funds.

This will also apply to any direct debits that you receive into your Ziglu account, like salary or benefit payments.

To avoid any funds going astray, please notify your third party payees now of a change in your banking details.

From 30 April 2023, any standing orders that are scheduled to withdraw to an external account that is not in your name will be automatically cancelled. Please make new arrangements for those payments to be made.

We’re on hand to help

Unsure on the impact of these changes? Don’t worry, we can help. Just contact us on [email protected] and we’ll guide you through the process so you can carry on using Ziglu without any hitches!

Kind regards

Team Ziglu

1 Like
2

None of that seems to reflect your thread title, ie that they’re closing down. Just a change in policy :man_shrugging:

3

I would contend that a “bank account” that is suspending all its debit card functions and transactions with anyone other than yourself is in reality, “closing down”.

Possibly a consequence of the failed RobinHood merger, I would hazard a guess at.

I have amended the title.

2 Likes
4

It was never a “bank/spending account”. It was always an “investment” platform with a card tacked on and as such not much has changed, just refocusing on that again.

1 Like
5

Yes, the debit card was really just a gimmick. Nothing to see here, really.

If you want to spend crypto with a debit card you’re probably better off using Revolut, anyway.

1 Like
6

Coinbase another option

7

It’s still sad to see Ziglu struggling, I thought they had a good proposition.

8

What were the real benefits of the Ziglu debit card? and how does it compare to other debit cards on the market?

10

Tumbleweed…

11

You’d think that a fintech company would be able to do their own research into these things :slight_smile:

1 Like