Martin Lewis's MoneySavingExpert (MSE) has issued an urgent warning to users of the Zero Sustainable Money App, which has ceased trading and is closing all accounts. The app, which launched in January 2025, stopped trading on March 18 after failing to raise sufficient funds to continue operations.
MSE advises customers to withdraw their deposits as soon as possible, ideally before March 31, when the app is expected to close. However, Zero has warned that it cannot guarantee the app will remain open until that date. A post on X from MSE stated: 'Zero plans to keep its app open until Tuesday 31 March, but it's said it can't guarantee this – so it's best to act now.'
Zero was not a bank but an e-money app, meaning funds are not protected by the Financial Services Compensation Scheme (FSCS). Instead, money is held in segregated accounts with an authorised credit institution. Users who have not received an email with instructions should contact zero@transactpay.com for assistance.
According to MSE, around 21,500 people were registered on the app, but only 7,500 were active users. Zero has emailed all customers with details on how to withdraw funds. After the app closes, any remaining deposits will be held for six years and can be accessed by contacting the same email address.
