Moneymie shuts down operations for retail services to focus on cross-border payments

Digital bank for Africans in the diaspora, Moneymie, has closed its retail services business.

Without specifying the reason, but a highlight of its transition to cross-border payments and repayments for businesses, this shutdown began on Tuesday August 9, 2022.

Moneymie will suspend services for retail customers starting August 9, 2022. We are grateful to the thousands of customers who believed in our dream of creating a digital bank for immigrants, but sadly that journey has come to an end.

Founded in 2019 by former WhoGoHost and Jobberman founder Opeyemi Owoyemi, Moneymie offers USD payments, international wire transfers, and mobile app services.

It comes two months after Michelle Van Staden joined the bank as CEO. The bank app has now been removed from Google and Apple Playstores.

Stating its subsequent decision, the bank noted: “Going forward, Moneymie will focus on cross-border payments and payments for our business users through our B2B platform and APIs. If you are or have a company that would like to use our services, do not hesitate to contact [email protected]

The bank has further advised users who have funds in their wallet to kindly transfer them before a set date as shown below.

If you have funds in your wallet, we ask that you transfer them by August 31, 2022. Please note that we will only process active accounts; Suspended and reported accounts will have funds refunded to the originating account.

About Matthew R. Dailey

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