Xinja will be exiting its banking business and will be returning its banking licence. Xinja itself will not be closing. As such, we request that all Xinja Bank Account holders transfer any of their remaining funds out of their Bank Accounts before Wednesday 6th January 2021. Please login to your Xinja app and transfer your funds to an external bank account using the ‘transfer’ function by that date. Please be assured that your funds are completely safe, and you’ll be able to easily access your funds during this period.
If you have a Stash account, you will need to transfer any remaining funds out of your Stash account and into your Bank Account by Wednesday 23rd December 2020. If you do not transfer your funds from your Stash account to your Bank Account by this date, any remaining funds will be automatically transferred to your Bank Account on your behalf. We request that any funds transferred to your Bank Account be transferred to an external bank account using the 'transfer' function on your Xinja app by Wednesday 6th January 2021.
Your Xinja debit card and pay facility will no longer be available to use from 15th January 2021.
The Australian Prudential Regulation Authority (APRA) is closely monitoring Xinja’s return of deposits to ensure that your funds are returned in an orderly and timely manner.
Deposits funds of up to $250,000 are also covered by the government guarantee (Financial Claims Scheme).
For further details, please refer to https://www.apra.gov.au/financial-claims-scheme-0