Arro Money has made the difficult decision to close and take its business in an exciting new direction. This means that from 22 April 2020 you won’t be able to use your Arro Account.
What will happen once your account has been closed?
- Your card will no longer work.
- You will no longer be able to make payments from your online account and your standing orders will not be processed.
- Payments sent to your account will be returned to the sender.
- You will not be able to manage your account online.
Find out more on our closure FAQs page https://www.arromoney.com/need-help
- We recommend that you move all the funds that are currently within your Arro account to another UK current account. You can do this easily via bank transfer.
- To make this process even easier for you, we have removed all account transaction fees so you can manage your account for free (except card inactivity fees, foreign exchange charges, and international cash withdrawal fees). You can read more about the original account fees here: https://www.arromoney.com/personal-fees
- Alternatively, you could choose to spend any money remaining in your account using your Arro card.
- All funds should be withdrawn by 22 April 2020.
- We recommend that you cancel and redirect any standing order payments from your Arro Account by 22 March 2020. This will ensure that your recurring payments are in order well before your Arro Account is closed.
- We also recommend that you redirect any regular payments into your account, like salary or benefit payments by 22 March 2020 for the same reason.
- If there is any money left in your account by 22 April 2020, these funds will be transferred to you within 90 days. This is on the proviso that you have given us details of another UK account that we can pay the money into, and provided any information we may need to identify this is your account. If you can’t provide the information we need, we won’t be able to transfer the remaining money to you. To reclaim your money after the 22 April 2020, please email email@example.com.
- We are legally required to hold any unclaimed money that has been left in your Arro Account after it has been closed for 6 years. You won’t be able to reclaim this money after 22 April 2026.