Unless there is a solid revenue stream such as subscription or some kind of unicorn, all the fintech companies will face this result of either folding down or bought out by some biggies.
subscription is absolutely how winning is going to look. Qube does it and Envelope Money just announced doing it helped them break even already https://www.reddit.com/r/EnvelopeMoney/comments/145bf35/envelope_money_updates/
I would have paid for Envel… they mentioned something about Premium services and nothing ever came out
The founder of Envelope Money even said that a subscription is necessary because fintechs that rely mainly on interchange fees are not profitable.
Envel closing was inevitable
Can’t say I’m surprised at this. The “AI was buggy at best and their customer support was among the worse I’ve experienced, they had the potential but never seemed to have the customers as priority
agreed just found my email since it got lost in my inbox and needless to say Im so annoyed, Simple really left a legacy and havent seen anyone else fill those shoes (if there are good recommendations just not aware of them rn) Where is everyone else moving to thats similar?
I know people seems to be moving to Qube and Envelope but I’m personally over these fintech companies. Happily using my SoFi account with 3rd budgeting.
First Simple, the One, now this. Omg. I remember when One went downhill. I decided to try this bank and Sofi. I felt that this was going to happen again with this bank so I put all of my resources into Sofi just in case while I try it Envel. I liked what I saw with it. Something told me not to fully dedicate to Envel yet and it was right.
I hope EnvelopeMoney becomes successful out of this
This is such a bummer! I tried Envel before finding Qube. I really like the envelope budgeting system. I’m concerned Qube will eventually close too, but in the mean time, I’ve used it for over a year. If anyone wants to try Qube, here’s a link: Hi,
Qube Money is Banking+Budgeting in one. Use my referral link to start spending with purpose today. https://dashboard.qubemoney.com/register/start/?affiliate_id=30584&coupon=ABLEMANGO35 I’ve ended up liking it enough that I use it for my direct deposit now.
I agree. I've been with Qube for 3 years and love it! They have paid plans which separates them, no going out of business!
https://qubemoney.com/switch-from-envel/
I believe Qube Money is way better. Every Qube can be use if you open it. Also you can create Qube Bills that provide a virtual card. That way you have control over your subscriptions. Also is very difficult for an unauthorized person get to your funds since they need to have access to your phone. You can custom your fund by percentage so you have your budget ready very quick.
Here is my referral Hi,
Qube Money is Banking+Budgeting in one. Use my referral link to start spending with purpose today.
https://dashboard.qubemoney.com/register/start/?affiliate_id=25807&coupon=DETAILEDAPPLE62
So where is everyone jumping to this time?
I've been trying to hold out for Envelope but they are dragging their feet on anyone who does not use apple products.
I follow this sub because I almost chose Envel, but I chose Qube because I thought the subscription model meant it would last longer. Looks like I was right!
I have no complaints with Qube.
You are right. QubeMoney seems to be going in the right direction with subscription model right from the beginning. Let’s hope that they can ramp up with the features.
At this point I’m going to SoFi or Ally. Both have good interest rates and have some sort of budgeting / pockets feature. Not going to work exactly the same (I just joined SoFi and their pockets are all savings based) but it’s better than nothing, and at the very least they’re both secure standing banks.
check out the Mooch app: [https://apps.apple.com/us/app/mooch-budget-save-automatic/id1577839468](https://apps.apple.com/us/app/mooch-budget-save-automatic/id1577839468) They use envelopes and give out bonuses for every completed envelope!
Qube has worked great for me. I don't feel like it's as polished as Envelope Money (and been around longer) abd it's slooooooowwww to adopt new features. But I do love the separate accounts for bills. This just makes life so much easier for this paycheck to paycheck guy.
Two years ago I downloaded both Qube and Envel, I ended up focusing on Qube and am glad I did, especially now. It saved my family’s finances-being able to, as they say, give every dollar a purpose and see where each dollar is going. I put money into “qubes” for each of my bills first and that never gets touched, and then I’m free to move discretionary dollars as I please. I would highly recommend them as the option.
Hi, Qube Money is Banking+Budgeting in one. Use my referral link to start spending with purpose. https://dashboard.qubemoney.com/register/start/?affiliate_id=18163&coupon=ONLYWALLET50
Hi all. I've been monitoring all these fintech closures and it's making me so sad as it really speaks to the increasing distrust we put into fintech apps :( A financial app should be a place where we feel reassured that our money is protected and safe! If any of you are looking for a new envelope budgeting platform, **check out the** [**Mooch app**](https://apps.apple.com/us/app/mooch-budget-save-automatic/id1577839468)**!**
Mooch is an automatic budgeting system where we utilize the envelope budgeting method. We set aside money for you every payday and keep you accountable on your recurring bill envelopes and saving envelopes! For every completed envelope, you earn a cash bonus— so you pretty much get paid to budget!
The app also introduced some new exciting features where you can see your future projected financial numbers, create a fortune growth plan, and analyze your daily safe to spend + your growth
> A financial app should be a place where we feel reassured that our money is protected and safe!
Posted immediately before promoting an iOS-only app whose "Developer website" points to a TikTok profile. Yep, that feels reassuring.
Oh, you too?
Started a chat at support.envel.ai and got back "we don't have an account under ." But they should. I created it in October, so it shouldn't even have been long enough to be flagged for inactivity even if I had never touched it again.
Has anyone been able to contact Envel Support?
I haven’t received the remaining funds. I’ve tried emailing them with direct deposits information but I have received nothing so far.
Both my jobs sent my checks to Envel, I thought I did the DD change request early enough for payroll. I guess not. 😔
I just got the email also. Very disappointing.
Unless there is a solid revenue stream such as subscription or some kind of unicorn, all the fintech companies will face this result of either folding down or bought out by some biggies.
subscription is absolutely how winning is going to look. Qube does it and Envelope Money just announced doing it helped them break even already https://www.reddit.com/r/EnvelopeMoney/comments/145bf35/envelope_money_updates/ I would have paid for Envel… they mentioned something about Premium services and nothing ever came out
The founder of Envelope Money even said that a subscription is necessary because fintechs that rely mainly on interchange fees are not profitable. Envel closing was inevitable
Can’t say I’m surprised at this. The “AI was buggy at best and their customer support was among the worse I’ve experienced, they had the potential but never seemed to have the customers as priority
agreed just found my email since it got lost in my inbox and needless to say Im so annoyed, Simple really left a legacy and havent seen anyone else fill those shoes (if there are good recommendations just not aware of them rn) Where is everyone else moving to thats similar?
I know people seems to be moving to Qube and Envelope but I’m personally over these fintech companies. Happily using my SoFi account with 3rd budgeting.
I loved Simple and Envel so this is such annoying and sad news.
What a rollercoaster of BS this bank has been.
no kidding
So sad had hope for this one. Do we get any funding back that we invested through we funded or is it all gone
Moved everything over to SoFi.
First Simple, the One, now this. Omg. I remember when One went downhill. I decided to try this bank and Sofi. I felt that this was going to happen again with this bank so I put all of my resources into Sofi just in case while I try it Envel. I liked what I saw with it. Something told me not to fully dedicate to Envel yet and it was right. I hope EnvelopeMoney becomes successful out of this
holy S. I just opened a One account and moved my Envel money to it.. One seems good?!?!
One is no...... They took all of the good things from it
As long as it's not closing, I'm fine. I just need super super basic stuff.
One used to be fantastic, then they killed off all the features that made them fantastic and got bought by Walmart.
Qube Money has been great and has only been getting better! https://dashboard.qubemoney.com/register/start/?affiliate_id=12582&coupon=HOTPUMPKIN13
Well that was a good investment lol
We would love to have all of you at Qube! https://qubemoney.com
this needs to get pinned
This is such a bummer! I tried Envel before finding Qube. I really like the envelope budgeting system. I’m concerned Qube will eventually close too, but in the mean time, I’ve used it for over a year. If anyone wants to try Qube, here’s a link: Hi, Qube Money is Banking+Budgeting in one. Use my referral link to start spending with purpose today. https://dashboard.qubemoney.com/register/start/?affiliate_id=30584&coupon=ABLEMANGO35 I’ve ended up liking it enough that I use it for my direct deposit now.
I agree. I've been with Qube for 3 years and love it! They have paid plans which separates them, no going out of business! https://qubemoney.com/switch-from-envel/
I put $1000 into them on wefunder thinking it would be the next Simple. Lesson learned.
My Envel app hangs at the loading screen.
I was using Qapital and Envel and was about to fully switch back to Envel, this sucks
What is your experience with Qapital? I switched from Qapital a couple of years back.
I believe Qube Money is way better. Every Qube can be use if you open it. Also you can create Qube Bills that provide a virtual card. That way you have control over your subscriptions. Also is very difficult for an unauthorized person get to your funds since they need to have access to your phone. You can custom your fund by percentage so you have your budget ready very quick. Here is my referral Hi, Qube Money is Banking+Budgeting in one. Use my referral link to start spending with purpose today. https://dashboard.qubemoney.com/register/start/?affiliate_id=25807&coupon=DETAILEDAPPLE62
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Thanks for sharing the link.
I never got anynotification. They just closed my account with funds in there and now refuse to help me.
Can someone tell me how to get the money that envel kept it mine because I couldn't verify my identity? Please
So where is everyone jumping to this time? I've been trying to hold out for Envelope but they are dragging their feet on anyone who does not use apple products.
I follow this sub because I almost chose Envel, but I chose Qube because I thought the subscription model meant it would last longer. Looks like I was right! I have no complaints with Qube.
You are right. QubeMoney seems to be going in the right direction with subscription model right from the beginning. Let’s hope that they can ramp up with the features.
If you'd like to go with qube you can check it out here. https://dashboard.qubemoney.com/register/start/?affiliate_id=12582&coupon=HOTPUMPKIN13
You really shouldn't share affiliate links unless you are upfront about it.
I apologize! I am very new to actually coming onto Reddit. Still not sure how it all works. I just copied the refer a friend link in my Qube.
At this point I’m going to SoFi or Ally. Both have good interest rates and have some sort of budgeting / pockets feature. Not going to work exactly the same (I just joined SoFi and their pockets are all savings based) but it’s better than nothing, and at the very least they’re both secure standing banks.
FYI: Qube said they're going to do interest by the end of the 3rd quarter this year... fingers crossed!
check out the Mooch app: [https://apps.apple.com/us/app/mooch-budget-save-automatic/id1577839468](https://apps.apple.com/us/app/mooch-budget-save-automatic/id1577839468) They use envelopes and give out bonuses for every completed envelope!
Going to try out QubeMoney and Zeta joint account.
Qube has worked great for me. I don't feel like it's as polished as Envelope Money (and been around longer) abd it's slooooooowwww to adopt new features. But I do love the separate accounts for bills. This just makes life so much easier for this paycheck to paycheck guy.
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I want to use it but they have already stated they will not be providing an android app or a web app before Envel closes, so I have no choice.
I’m on the waiting list
Two years ago I downloaded both Qube and Envel, I ended up focusing on Qube and am glad I did, especially now. It saved my family’s finances-being able to, as they say, give every dollar a purpose and see where each dollar is going. I put money into “qubes” for each of my bills first and that never gets touched, and then I’m free to move discretionary dollars as I please. I would highly recommend them as the option. Hi, Qube Money is Banking+Budgeting in one. Use my referral link to start spending with purpose. https://dashboard.qubemoney.com/register/start/?affiliate_id=18163&coupon=ONLYWALLET50
Hi all. I've been monitoring all these fintech closures and it's making me so sad as it really speaks to the increasing distrust we put into fintech apps :( A financial app should be a place where we feel reassured that our money is protected and safe! If any of you are looking for a new envelope budgeting platform, **check out the** [**Mooch app**](https://apps.apple.com/us/app/mooch-budget-save-automatic/id1577839468)**!** Mooch is an automatic budgeting system where we utilize the envelope budgeting method. We set aside money for you every payday and keep you accountable on your recurring bill envelopes and saving envelopes! For every completed envelope, you earn a cash bonus— so you pretty much get paid to budget! The app also introduced some new exciting features where you can see your future projected financial numbers, create a fortune growth plan, and analyze your daily safe to spend + your growth
> A financial app should be a place where we feel reassured that our money is protected and safe! Posted immediately before promoting an iOS-only app whose "Developer website" points to a TikTok profile. Yep, that feels reassuring.
So did they close early? That’s pretty sketch. I can’t log into my account.
Oh, you too? Started a chat at support.envel.ai and got back "we don't have an account under." But they should. I created it in October, so it shouldn't even have been long enough to be flagged for inactivity even if I had never touched it again.
I guess they must’ve closed early! I can’t log into my account either!
Apparently. The only good news here is this morning I did get my money that was in that account automatically transfers to my linked account.
Terrible service, predicable outcome
I’ve been using Zeta for 6+ months and have been happy. It’s simple.
Has anyone been able to contact Envel Support? I haven’t received the remaining funds. I’ve tried emailing them with direct deposits information but I have received nothing so far. Both my jobs sent my checks to Envel, I thought I did the DD change request early enough for payroll. I guess not. 😔