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  "path": "/money/martin-lewis-mse-urgent-warning-banking-app-users",
  "publishedAt": "2026-03-23T14:10:01.000Z",
  "site": "https://www.gbnews.com",
  "tags": [
    "Martin Lewis explains four tax-free allowances to protect £38,570 from HMRC",
    "Martin Lewis warns savers with £11,000 or £22,000 could face major HMRC tax grab",
    "Martin Lewis warns UK energy bills could rise 30% as Iran conflict threatens oil and gas prices",
    "The GB News Editorial Charter"
  ],
  "textContent": "\n\n\nMartin Lewis’ MoneySavingExpert team has urged customers of the Zero app to withdraw their money immediately after the fintech firm stopped trading.\n\nThe sustainable finance app ceased operations on March 18, affecting around 21,500 registered users.\n\n###\n\n\n\n\nMoneySavingExpert 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.\"\n\nThe company’s website now confirms it has stopped trading and will shut down its services.\n\n###\n\n\n\n\nTRENDING\n\nStories\n\nVideos\n\nYour Say\n\n###\n\n\n\n\nCustomers have been contacted directly with further details about next steps.\n\nZero launched in January 2025 but has closed after failing to secure sufficient funding.\n\nOf the 21,500 registered users, around 7,500 were actively using the app before it ceased operations.\n\nThe firm said it had contacted all account holders with instructions on how to withdraw their funds.\n\n###\n\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nZero operated as an e-money provider rather than a bank, offering a personal account, debit Mastercard and savings products.\n\nIts services included the Zero Personal Account, Zero Debit Mastercard and the Planet Safe Saver, all of which are now being withdrawn.\n\nThe Planet Safe Saver had offered a 3.66 per cent AER variable rate and had previously been highlighted as a competitive ethical savings option.\n\nMoneySavingExpert warned that funds held in e-money accounts are not protected by the Financial Services Compensation Scheme.\n\nInstead, customer money is held in segregated accounts with an authorised institution, separate from company funds.\n\n### LATEST DEVELOPMENTS\n\n\n\n\n  * Martin Lewis explains four tax-free allowances to protect £38,570 from HMRC\n  * Martin Lewis warns savers with £11,000 or £22,000 could face major HMRC tax grab\n  * Martin Lewis warns UK energy bills could rise 30% as Iran conflict threatens oil and gas prices\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nMoneySavingExpert advised customers to withdraw their balances as soon as possible.\n\nThe app is expected to remain accessible until March 31, although this is not guaranteed.\n\nCustomers can transfer their funds back to linked UK current accounts.\n\nThose experiencing difficulties have been advised to contact the firm via email for assistance.\n\nTransact Payments Limited will retain any unclaimed funds for up to six years, after which they may be treated under dormant account rules.\n\n###\n\n\n\n\nIt's worth noting that when an e‑money fintech shuts down, customers’ funds are legally protected because firms must “safeguard” client money in segregated accounts or low‑risk assets.\n\nThese safeguarded funds cannot be used for the company’s own expenses and must be returned to customers if the business becomes insolvent.\n\nUnlike banks, e‑money firms are not covered by the Financial Services Compensation Scheme (FSCS), but safeguarding rules are designed to ring‑fence customer money from creditors.\n\nIf a firm collapses, an independent insolvency practitioner oversees the return of funds, although the process can take time.\n\n###\n\n\n\n\n\n\n\n\n\n\n**Our Standards: The GB News Editorial Charter**",
  "title": "Martin Lewis's 'MSE' issues urgent warning to thousands of banking app users to 'withdraw cash immediately'"
}