Wysh notifies customers that they will close all savings accounts in less than two weeks

Wysh emailed its Savings+ accountholders to announce that their savings accounts would be closed due to the company no longer offering the product. 

We created our Savings+ account to allow us to provide microlife insurance to a new group of users. Thank you for your interest in Wysh Savings+, but we have made the difficult decision to stop offering Savings+ and all Savings+ accounts will be closing.

In the email, Wysh also explained what customers can expect in the next few weeks.

“You can utilize your Wysh Savings+ bank account as normal and access your funds until 12/20/2024. Any remaining funds in your Wysh Savings+ account upon closure will be sent to your linked bank account within 10 business days after account closure. If you don’t have a linked bank account, a check will be sent to the address on file. Please be sure your address is up to date.”

Was Wysh in trouble before they opened the floodgates to bank bonus churners this year? Perhaps the promotion was an effort for the company to save itself.

I wish that I had more info on what this means for the company overall and the life insurance policy that it offers, but I’m still clueless as to how their services actually work.  

Wysh customers should check their emails for any correspondence from Wysh to get full details on how to close their accounts.