Latest update (as of 4th November 2024)
We are pleased to share positive updates regarding funds that have been held at Lineage Bank, our former banking partner, since May 2024.
An authorized representative from a vendor of Lineage Bank will be reaching out via email to confirm your account information. Please keep an eye out for this email, as confirming your information is necessary to initiate the return of the held funds.
The process of returning these funds will begin in mid-November and is expected to conclude by the end of the year. Please note that users with balances exceeding $1,000 will be prioritized, followed by users with balances below $1,000.
If you have any questions or concerns regarding this process, please do not hesitate to contact us directly through chat support in our app.
Additionally, our next update on this matter will be provided on November 30, 2024.
Summary
Per our earlier email, since May 8th, 2024 banking & remittance services at Abound have been impacted due to on-going legal issues between our service providers Evolve Bank & Trust, Lineage Bank and Synapse Brokerage LLC.
Synapse, Lineage and Evolve are trying to resolve the dispute, which if resolved will result in processing payments again and funds withdrawal will resume via our app and debit card.
FAQ (Frequently Asked Questions)
When can I access my funds again?
Since May 8th, 2024 banking & remittance services at Abound have been impacted due to on-going legal issues between our service providers Evolve Bank & Trust, Lineage Bank and Synapse Brokerage LLC.
We are unable to provide an accurate date as to when we will be able to return your funds back to you since the dispute is still ongoing.
Why can’t I view my funds and remittance transactions in the app?
Since May 8th, 2024 banking & remittance services at Abound have been impacted due to on-going legal issues between our service providers Evolve Bank & Trust, Lineage Bank and Synapse Brokerage LLC. Due to the ongoing dispute between Evolve Bank & Trust, Lineage Bank and Synapse Brokerage LLC the access to your funds might be delayed until they can resolve the dispute.
As a result we are unable to provide the transaction information from within the app since our access has been limited as well.
Why is there a delay in returning my funds?
Since May 8th, 2024 banking & remittance services at Abound have been impacted due to on-going legal issues between our service providers Evolve Bank & Trust, Lineage Bank and Synapse Brokerage LLC.
As a result we are unable to initiate return of funds at this time since our access has been limited as well.