Customers using a particular banking app are being warned by Martin Lewis' team at MoneySavingExpert (MSE) to 'act now' as it prepares to shut down all accounts. While the app is anticipated to remain operational until at least Tuesday, March 31, the company has stated this cannot be assured.

On March 18, Fintech banking app Zero ceased trading. Anyone holding an account with the provider must withdraw their deposits in full at the earliest opportunity, MSE advises. The Zero Sustainable Money App is shutting down all accounts, including Zero Personal Account, Zero Debit Mastercard and Planet Safe Saver.

Alerting customers to the impending closure, MSE posted about the development on X. It said: "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."

According to MSE, Zero, which launched its app in January 2025, revealed it is closing because it was unable to secure additional funding to sustain the business. This shutdown impacts all Zero app users.

MSE reports that 21,500 people are registered on the app, though only 7,500 actively used it or conducted transactions before it ceased operations. Zero confirmed that it has contacted all customers to clarify the next steps. Zero was a Fintech startup, reports the Mirror.

A statement on its website reads: "Zero has ceased trading and will be closing. Customers have been sent emails with more information". Zero was not a bank, but rather a 'sustainable alternative to banking' and an E-Money app. Zero described itself as an "sustainable alternative to banking with free money app, personal account, debit Mastercard, GreenScore and more"

Outlining the steps, MSE recommends people withdraw their funds as soon as possible. Ideally, no later than March 31, when the app is due to close.

MSE says: "You should have received an email with further instructions. However, these accounts were linked to and funded by an existing UK current account, so presumably you can withdraw your funds to this account. You can also email zero@transactpay.com if you are experiencing any difficulties accessing your funds."

It added: "You should still be able to withdraw funds after 31 March, but it's best not to wait. Transact Payments Limited says any deposits remaining after the app closes will be held for six years, during which time they can be accessed by contacting zero@transactpay.com.

"Transact Payments Limited says any remaining money after this time may be treated in accordance with applicable laws on dormant or unclaimed funds. These are e-money accounts, so you can't complete a current account switch to a new provider.

"Funds deposited in e-money accounts are NOT safeguarded by the Financial Services Compensation Scheme (FSCS). Money is instead held in segregated accounts with an authorised credit institution, separate from TransactPay's own funds."