Martin Lewis’ MoneySavingExpert (MSE) has urged app customers to ‘act now’ and withdraw funds
MSE says the Fintech startup banking app has stopped buying and selling (Picture: ITV)
Clients utilizing a specific banking app are being warned by Martin Lewis’ workforce at MoneySavingExpert (MSE) to ‘act now’ because it prepares to close down all accounts. Whereas the app is anticipated to stay operational till a minimum of Tuesday, March 31, the corporate has acknowledged this can’t be assured.
On March 18, Fintech banking app Zero ceased buying and selling. Anybody holding an account with the supplier should withdraw their deposits in full on the earliest alternative, MSE advises. The Zero Sustainable Cash App is shutting down all accounts, together with Zero Private Account, Zero Debit Mastercard and Planet Protected Saver.
Alerting prospects to the approaching closure, MSE posted concerning the growth on X. It stated: “Zero plans to maintain its app open till Tuesday 31 March, but it surely’s stated it may possibly’t assure this – so it is best to behave now.”
Based on MSE, Zero, which launched its app in January 2025, revealed it’s closing as a result of it was unable to safe extra funding to maintain the enterprise. This shutdown impacts all Zero app customers.
MSE stories that 21,500 persons are registered on the app, although solely 7,500 actively used it or performed transactions earlier than it ceased operations. Zero confirmed that it has contacted all prospects to make clear the following steps. Zero was a Fintech startup, stories the Mirror.
An announcement on its web site reads: “Zero has ceased buying and selling and might be closing. Clients have been despatched emails with extra data”. Zero was not a financial institution, however quite a ‘sustainable various to banking’ and an E-Cash app. Zero described itself as an “sustainable various to banking with free cash app, private account, debit Mastercard, GreenScore and extra”
Outlining the steps, MSE recommends individuals withdraw their funds as quickly as doable. Ideally, no later than March 31, when the app is because of shut.
MSE says: “You must have acquired an electronic mail with additional directions. Nevertheless, these accounts have been linked to and funded by an current UK present account, so presumably you may withdraw your funds to this account. You can even electronic mail zero@transactpay.com if you’re experiencing any difficulties accessing your funds.”
Zero plans to maintain its app open till Tuesday 31 March, but it surely’s stated it may possibly’t assure this – so it is best to behave now.
We take you thru what’s taking place and what it means in your financial savings:https://t.co/Ob2PQcTuSA pic.twitter.com/cBjKalonSj
— MoneySavingExpert (@MoneySavingExp) March 20, 2026
It added: “You must nonetheless be capable of withdraw funds after 31 March, but it surely’s greatest to not wait. Transact Funds Restricted says any deposits remaining after the app closes might be held for six years, throughout which period they are often accessed by contacting zero@transactpay.com.
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“Transact Funds Restricted says any remaining cash after this time could also be handled in accordance with relevant legal guidelines on dormant or unclaimed funds. These are e-money accounts, so you may’t full a present account swap to a brand new supplier.
“Funds deposited in e-money accounts are NOT safeguarded by the Monetary Providers Compensation Scheme (FSCS). Cash is as an alternative held in segregated accounts with an authorised credit score establishment, separate from TransactPay’s personal funds.”
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