I don’t think you’d be able to return unless you’re quick as It seems sure to close down.
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Zero offered this about 6 months before they folded. To be honest is prefer being able to schedule payments and do Direct Debits over this kind of thing…
My algbra app says that if close the account that I won’t be able to open a new one for 12 months.
I’ve also found my algbra app to be quite laggy on Android (other apps run perfectly fine).
I think it’s one that I’m going to end up closing, as I don’t want to be charged inactivity fees. And I’d never fully trust them as they’re an EMI (and not a profitiable one either).
Anyone get an email from Algbra worded in a way it was them closing my account and not that I initiated the closure? Even mentions they can’t tell me why they closed it.
Rather odd I must say.
I would just let it happen.
This is a firm that is still losing money each year, £3.7m loss in 2023, £6m loss in 2024 (2025 is yet to be published). This alone wouldn’t be a major concern (startups lose money at first), but their revenue is also dropping each year, when it should be increasing…
Their accounts show in 2024 they only brought in £70k in revenue (£2m in the previous year)… how is that even possible, unless they have shifted their revenue to a different entity.
Unless the 2025 figures are stunning, well… who knows what will happen.
Just my opinion, of course.
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Did Algbra used to offer cashback as well similar to Chase? But they stopped that around 2024? So, that might explain why revenue went down so much?
Yes they did, in fact Algbra was offering 1.5% cash back. This would’ve been 3 years ago.
That was when I stopped using it. Adding on charges and subtracting cashback is definitely not a good combo!
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They want my payslips now to keep the account open.
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What did you do?
Nothing. It’s their annual confirmation that I’m legit apparently. This year is not enough to know who I work for, they need payslips too.
The account is going to be closed.
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They do that to me I will wave Goodbye to them
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Algbra shuts when? 
Before Christmas
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I had to send in a Monzo statement (had to show my salary being credited), my most recent payslip, and a utility bill in order for them to open the account. So much KYC for a simple EMI account 
Fixed that for you.
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LHV asked for payslips. I told them to cancel the application.
Once I got around LHV just not taking a photo of my ID, I was then instantly approved. Did you definitely enter the right income figure? Cuz I can’t think of any other reason other than a mismatch flagged by NH.
Flagged by what? National hunter?
Can you just use words not anagrams?
Anyway, national hunter wouldn’t be the reason for a salary verification. It can be internal policy to verify, rarely comes from a third party.
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Acronym, surely? 
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