Zero, a fintech banking app, has announced the cessation of its operations, prompting thousands of customers to transfer their funds to alternative accounts. The closure of the Zero Sustainable Money App will impact users with 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 affected customers have received emails from Zero outlining the necessary steps to take. While the app is set to close by March 31, there is a possibility of an earlier closure.
It is advised by MSE to withdraw funds before the closure date to avoid any potential issues. In case funds are not withdrawn, they will be held for six years, and customers can access them by contacting zero@transactpay.com. For customers with savings accounts, the funds will be transferred to their Zero personal account, requiring a subsequent transfer to a new account.
Zero Sustainable Money App, established in Cardiff in 2023 and launched to the public in January 2025, cited the inability to secure additional funding as the reason for its closure. The company’s LinkedIn page confirms the cessation of trading due to the inability to raise capital or find a buyer.
Zero aimed to provide a sustainable money app, current account, debit Mastercard, and savings account to environmentally conscious users, with features like GreenScore to monitor and reduce their carbon footprint. The GreenScore feature assessed spending habits to measure sustainability.
At its inception, Zero emphasized its commitment to promoting environmentally friendly financial practices. Richard Theo, the co-founder and CEO, expressed the vision of using money as a positive force for the planet and bridging the gap between digital banking and sustainable practices.
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