November 21, 2022
Recently, With Purpose, Inc. d/b/a GloriFi, has experienced a series of financial challenges related to startup mistakes, reputation attacks, the declining economy, and multiple negative media stories.
As a result of developments late last week, the Board of Directors and leadership of GloriFi have come to the heartbreaking conclusion that we need to begin winding down the company’s operations. We couldn’t be more thankful for our employees’ tireless efforts to bring this amazing product to market and our members and clients’ early trust, nor could we be more disappointed in the ultimate outcome.
Effective immediately, we have begun the process of helping our customers resolve their accounts. Look for more information and specific steps to follow within the next 24 hours. This is NOT a result of any action by you and we sincerely apologize for any inconvenience this may cause you.
CLIENT ASSISTANCE:
Why are you closing my account?
• We are closing down our digital banking platform. As a result, we will be closing all accounts opened to date.
GLORIFI CHECKING ACCOUNT HOLDERS
Timeline: Your GloriFi debit Mastercard® will be terminated on By 2pm EST TODAY, November 23, 2022. Your GloriFi Checking account will be closed on December 6, 2022.
What do I as a customer need to do?
• Cancel any pre-authorized or recurring debit card transactions and account debits/credits (e.g., direct deposit, debits, etc.) to and from your account, by 2pm EST TODAY, November 23, 2022.
• Stop using your debit card as of 2pm EST TODAY, November 23, 2022 as the transactions will be declined
• Transfer your existing checking account balance to an external bank account linked in your GloriFi app. The current daily withdrawal limit is $5,000. We are working to increase the daily withdrawal limit, so please try again periodically to transfer the remaining funds.
• If you do not have a linked external account, you can link an account in the GloriFi app and then transfer funds to the external linked account by 2pm EST TODAY, November 23, 2022.
• You may also withdraw your balance using your debit card at an ATM, subject to appropriate daily withdrawal limits, before 2pm EST TODAY, November 23, 2022.
What if my balance is over $5,000?
• Originally, for your protection, our system limited the amount of funds that could be transferred out of any account to $5000 p/day. We are working diligently to get that limit changed today so you can transfer the remaining funds yourself.
• Meanwhile, please transfer up to $5,000 of your balance to your linked external account using the GloriFi app today. If you have issues linking external accounts in your app, please reach out to us at [email protected]
• Watch future emails and visit https://glorifi.com/ for the latest information.
What if I have a Direct Deposit with GloriFi?
If you set one or more deposits (paychecks, regularly scheduled incoming payments, etc.) to direct deposit into your GloriFi Checking or Saving account, you must update the source of these direct deposits (payroll provider, etc.) by TODAY, November 23, 2022 at 2pm EST.
Provide them with an alternate external account where you would like funds to go moving forward. Any funds sent to your GloriFi Checking or Savings account 2pm EST. TODAY, November 23, 2022, will be returned to the source that sent them to us (payroll provider, etc.)
What else do I need to know?
Any remaining available balance, including interest, will be disbursed (i.e., paid to you) by check within 60 days of the account closing date. The check will be mailed to the address used to open your account. If that address is not correct, please email us at [email protected] with the correct address as soon as possible.
GLORIFI SAVINGS ACCOUNT HOLDERS
Timeline: Your GloriFi Savings accounts will be closed on December 6, 2022.
What do I as a customer need to do?
• Cancel any pre-authorized or recurring transactions and account debits/credits (e.g., direct deposit, debits, etc.) to and from your account, by 2pm EST TODAY, November 23, 2022.
• Transfer your existing savings account balance to an external bank account linked in your GloriFi app. The current daily withdrawal limit is $5,000. We are working to increase the daily withdrawal limit, so please try again periodically to transfer the remaining funds.
• If you do not have a linked external account, you can link an account in the GloriFi app and then transfer funds to the external linked account by November 23, 2022 by 2pm EST.
What if my balance is over $5,000?
• Originally, for your protection, our system limited the amount of funds that could be transferred out of any account to $5000 p/day. We are working diligently to get that limit changed today so you can transfer the remaining funds yourself.
• Meanwhile, please transfer up to $5,000 of your balance to your linked external account using the GloriFi app today. If you have issues linking external accounts in your app, please reach out to us at [email protected]
• Watch future emails and visit https://glorifi.com/ for the latest information.
What if I have a Direct Deposit with GloriFi?
If you set one or more deposits (paychecks, regularly scheduled incoming payments, etc.) to direct deposit into your GloriFi Checking or Saving account, you must update the source of these direct deposits (payroll provider, etc.) by TODAY, November 23, 2022 at 2pm EST.
Provide them with an alternate external account where you would like funds to go moving forward. Any funds sent to your GloriFi Checking or Savings account 2pm EST. TODAY, November 23, 2022, will be returned to the source that sent them to us (payroll provider, etc.)
What else do I need to know?
• Any remaining available balance, including interest, will be disbursed (i.e., paid to you) by check within 60 days following the account closing date. The check will be mailed to the address used to open your account. If that address is not correct, please email us at [email protected] with the correct address as soon as possible.
GLORIFI CREDIT CARD ACCOUNT HOLDERS
Effective immediately, we are suspending your right to make future purchases on your Account. This is NOT a result of any action by you. We sincerely apologize for any inconvenience this may cause you.
Please remember that you remain responsible for all balances and other amounts that you owe on your Account. These must be maintained to protect your good credit.
Timeline: Your GloriFi credit card Account remains open. However, your ability to make additional purchases moving forward has been suspended.
What do I as a customer need to do?
• Cancel any pre-authorized and/or recurring credit card transactions and account charges to and from your Account, effective immediately.
• Continue to make payments on your Account in accordance with your Consumer Credit Card Agreement.
○ Within the GloriFi app, you can make a payment with one of your linked external accounts
DO NOT pay from a linked GloriFi checking or savings account as that feature has been disabled.
If you attempted to pay from a linked GloriFi checking or savings account, that payment will be returned and will not be applied to your Account balance; please remit payment from a different account.
○ Use online bill pay from another financial institution.
○ Call 1-866-791-0987
○ Pay by check:
Make checks payable to: GloriFi
If mailing a payment, print and include bottom portion of statement located in the Accounts tab of your GloriFi app
Mail payments to:
GloriFi
PO Box 124050
Dallas, TX 75312-4050
Recently, With Purpose, Inc. d/b/a GloriFi, experienced a series of financial challenges related to startup mistakes, reputation attacks, the declining economy, and multiple negative media stories.
As a result of recent developments, the Board of Directors and leadership of GloriFi came to the heartbreaking conclusion that we need to wind down the company’s operations.
Efforts are underway in helping our customers resolve their accounts. Look for more daily information and updates. This is NOT a result of any action by you, and we sincerely apologize for any inconvenience this may cause you.
CLIENT ASSISTANCE:
Why are you closing my account?
• We closed down our digital banking platform. As a result, we have closed all checking and savings accounts.
GLORIFI CHECKING ACCOUNT HOLDERS
Important Dates to Note:
• Your GloriFi debit Mastercard® was terminated on November 23, 2022.
• The GloriFi app shut down Friday, December 2, 2022.
• Your GloriFi Checking account was closed on December 6, 2022.
What if I have a Direct Deposit with GloriFi?
If you set one or more deposits (paychecks, regularly scheduled incoming payments, etc.) to direct deposit into your GloriFi Checking account, you must update the source of these direct deposits (payroll provider, etc.).
Provide them with an alternate external account where you would like funds to go moving forward.
Any funds sent to your GloriFi Checking account after 2pm EST. November 25, 2022, will be returned to the source that sent them to us (payroll provider, etc.)
What else do I need to know?
Your money is safe.
Any remaining available GloriFi Checking Account balance, including interest, will be disbursed (i.e., paid to you) by check within 60 days of the account closing date.
The check will be mailed to the address used to open your account.
If that address is not correct or if you have any further issues, please email us at [email protected].
GLORIFI SAVINGS ACCOUNT HOLDERS
Important Dates to Note:
• The GloriFi app shut down Friday, December 2, 2022.
• Your GloriFi Savings account was closed on December 6, 2022.
What if I have a Direct Deposit with GloriFi?
If you set one or more deposits (paychecks, regularly scheduled incoming payments, etc.) to direct deposit into your GloriFi Savings account, you must update the source of these direct deposits (payroll provider, etc.).
Provide them with an alternate external account where you would like funds to go moving forward.
Any funds sent to your GloriFi Savings account after 2pm EST. November 25, 2022, will be returned to the source that sent them to us (payroll provider, etc.)
What else do I need to know?
Your money is safe.
Any remaining available GloriFi Savings Account balance, including interest, will be disbursed (i.e., paid to you) by check within 60 days of the account closing date.
The check will be mailed to the address used to open your account.
If that address is not correct or if you have any further issues, please email us at [email protected].
GLORIFI CREDIT CARD ACCOUNT HOLDERS
On November 22, 2022, we suspended your right to make purchases on your Account. This was NOT a result of any action by you. We sincerely apologize for any inconvenience this may cause you.
Please remember that you remain responsible for all balances and other amounts that you owe on your Account. These must be maintained to protect your good credit.
Timeline: Your Account Will Remain Open. However, the GloriFi mobile app was disabled Friday, December 2nd, 2022.
What do I as a customer need to do?
• Check your mail for future statements.
• Cancel any pre-authorized and/or recurring credit card transactions and account charges to and from your Account, effective immediately.
• Continue to make payments on your Account in accordance with your Consumer Credit Card Agreement.
How do I pay off my GloriFi Mastercard after December 2nd?
• Call 1-866-791-0987 for assistance.
• Pay by check:
Make checks payable to: GloriFi
If mailing a payment, print and include bottom portion of statement located in the Accounts tab of your GloriFi app
Mail payments to:
GloriFi
PO Box 124050
Dallas, TX 75312-4050
General Inquiry? Email [email protected]
Please know that we couldn’t be more thankful for your early trust or be more disappointed in the ultimate outcome. We are here to help you through this transition.
Sincerely,
The GloriFi Family
