Zero Bank Closure: Customers Urged to Move Money Now
- Customers of the sustainable banking app Zero have been urged to withdraw their funds immediately after the company ceased trading on Tuesday, March 24, 2026.
- Zero, which launched in January 2025, offered a current account, debit Mastercard, and savings account focused on environmental sustainability.
- All affected customers have been emailed with instructions on how to retrieve their money.
Sustainable Banking App Zero Ceases Trading, Leaving Thousands Scrambling to Access Funds
Customers of the sustainable banking app Zero have been urged to withdraw their funds immediately after the company ceased trading on Tuesday, . The closure impacts up to 21,500 registered users, though the number actively using the app is closer to 7,500, according to MoneySavingExpert.com.
Zero, which launched in , offered a current account, debit Mastercard, and savings account focused on environmental sustainability. The app’s unique “GreenScore” feature analyzed spending habits to help users understand and reduce their environmental impact. However, the company was unable to secure further funding or a buyer, leading to its collapse.
All affected customers have been emailed with instructions on how to retrieve their money. While the app is scheduled to officially close on , MoneySavingExpert warns that access may be cut off sooner, advising users to act “immediately.”
Funds held in Zero accounts are not protected by the Financial Services Compensation Scheme (FSCS), a standard safeguard for UK bank accounts. However, Zero has stated that customer funds are “ringfenced with a credit institution,” offering a degree of security. Customers with savings accounts will have their funds automatically transferred to their main Zero account before needing to transfer them to another UK current account.
The closure of Zero highlights the challenges faced by fintech startups, particularly those operating in the competitive banking sector. While the promise of innovative, sustainable financial products attracts customers, securing long-term investment and achieving profitability remains a significant hurdle. The company’s LinkedIn page confirmed the cessation of trading, stating it was due to an inability to “raise more capital or find an acquiror.”
For Zero Personal account holders, MoneySavingExpert recommends a full withdrawal of deposits “ideally no later than .” Planet Safe Saver users face an earlier deadline of , after which any remaining funds, including accrued interest, will be transferred to their main balance.
Customers who fail to withdraw their funds by the specified deadlines may be able to access them for up to six years by contacting zero@transactpay.com. However, a prompt withdrawal is strongly advised.
The failure of Zero comes amid a broader trend of increased scrutiny of fintech companies and their business models. While many have disrupted traditional financial services, questions remain about their long-term viability and the protection of customer funds. This case serves as a reminder for consumers to be aware of the risks associated with newer financial institutions and to understand the extent of deposit protection available.