Why is Moven closing all accounts?
Moven is closing its accounts to concentrate on providing its patented financial wellness technology to banks and financial partners in the US and around the world.
What should I do now?
As the letter (click here to read) stated you should:
- Update any automatic transactions and payments that use your Moven account – things like direct deposits or if you have your tax refund scheduled for deposit into your Moven account. Do this step as soon now. Do not wait!
- Move your funds out of your Moven account before April 30, 2020. You can transfer your money to another bank account; withdraw the balance with your Moven debit card; or use the Send Money feature of the Moven app. Start doing this now so you avoid any delays in getting your money.
I have a pending issue with you, how and when will that be resolved?
Any issues will continue to be investigated and processed, as we have always done.
Who is CBW Bank?
CBW Bank is what’s commonly referred to as a ‘sponsor bank’. Since Moven is not a bank, we needed a bank partner to assist with everyday transactions. CBW is technically the owner of your account and will be in touch with you shortly with additional information.
Why can’t I keep my account open past April 30, 2020?
Moven chose this date to give all customers enough time to change banks and update automatic transactions.
What should I do with my debit card and the app I have on my phone?
Destroy your debit card and delete the app from your phone.
I really like the information I get from Moven. Will I ever have the chance to use Moven again?
Perhaps in the future as we make our technology available to banks and financial institutions.
I very unhappy with having to change banks. Is there anyway my account can stay active?
Unfortunately, we are unable to keep any Moven accounts open. We understand that changing banks is not easy; however, there are many options available with both traditional and online banks. Take some time to explore them by searching online.
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The Moven card is issued by CBW Bank, member FDIC, pursuant to a license from MasterCard International© 2019. Movencorp Inc. All Rights Reserved
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