Digital bank for Africans in the diaspora, Moneymie, has shut down retail service operations.
Without stating the reason for this, but a highlight of its transition to cross-border payments and payouts for businesses, this halt kicked off on Tuesday, August 9, 2022.
“Moneymie will be pausing services for retail customers from the 9th of August, 2022. We are grateful to the thousands of customers that believed in our dream to build a digital bank for immigrants, but unfortunately, that journey has come to an end.”
Founded in 2019 by Opeyemi Owoyemi, previous founder of WhoGoHost and Jobberman, Moneymie offers USD payments, International wire transfers and mobile app services.
This comes two months after Michelle Van Staden, join the bank as CEO. The bank’s app has now been removed from Google and Apple Playstores.
Stating its subsequent move, the bank noted: “Moving forward, Moneymie will focus on cross-border payments and payouts for our business users via our B2B platform and APIs. If you are or have a business that wants to use our services, please don’t hesitate to reach out to support@moneymie.com.”
The bank further advised that users who have funds in their wallets should do well to transfer them before a set date as stated below.
“If you have funds sitting in your wallet, we ask that you transfer them before August 31st, 2022. Please note that we will attend to only active accounts; suspended and flagged accounts will have funds refunded to the originating account.”
