Zero, a fintech banking app, has announced the cessation of its services, prompting thousands of customers to transfer their funds to alternative accounts promptly. The closure of the Zero Sustainable Money App will impact individuals holding a Zero Personal Account, Zero Debit Mastercard, or Planet Safe Saver.
According to MoneySavingExpert.com, Zero has approximately 21,500 registered users, with only 7,500 actively using the app. All customers have been notified via email by Zero regarding the necessary steps to take. While the app is set to operate until March 31, there is a possibility of an earlier closure, as cautioned by MSE.
MSE recommends withdrawing funds before March 31 to avoid potential issues. Failure to do so may result in the funds being held for six years, requiring individuals to contact zero@transactpay.com for access. Customers with savings accounts are advised that their funds will be transferred to their Zero personal accounts, necessitating a subsequent transfer to another account.
Zero Sustainable Money App, established in Cardiff in 2023 and officially launched in January 2025, is shutting down due to the inability to secure additional funding. The company’s LinkedIn page confirmed the closure, citing the failure to raise capital or find an acquirer.
The app’s unique GreenScore feature, which assessed spending habits to gauge sustainability, aimed to help users understand their environmental impact. Zero’s co-founder and CEO, Richard Theo, envisioned a financial landscape where money positively impacts the planet, promoting sustainability through digital banking.