Enzo sent out an email today to uses that their cashback rewards program is ending, effective immediately. Rewards earned through March 10, 2023 will be paid out.
We have some sad news to share. Unfortunately, we’re terminating our cashback rewards. Cashback rewards for the month of February will be paid out in the coming days. Rewards accrued through March 10th will be paid out at a later date. All other cashback rewards earned after March 10th that have not been paid out will be forfeited as a result of the termination of the program. Please see the terms and conditions for our rewards program for further details: https://www.joinenzo.com/terms-of-service. Please scroll down to view the rewards terms.
Please note that this rewards program is the sole responsibility of Enzo and not of our banking partner. If you have questions or concerns related to the termination of this program, you may contact us at [email protected]
We understand these rewards were important to you and we have a potential partnership in the works that would offer Enzo users most of the same perks you’ve enjoyed. More details will be coming soon.
I opened my account last year in Oct and just totaled the interest and it was more than $10. but I did not get any 1099 in the mail. App doesnt seem to have any electronic copies either.
Does anyone know if the 1099 comes form Blueridge directly. I guess worst case, I will just total it myself and self report it? Any advice?
thanks
Yep. Hope you just totaled it yourself.
Your 1099 INT may have lost in mail.
When I received mine from Blue Ridge Bank, my apartment number was completely missing from the address! Luckily USPS did their due diligence and finally delivered it to me after some delay. I am really not sure why they still need to use snail mail in 2023!
@guest_16022338
Yes. I just totaled it myself and self reported it under Blue Ridge Bank. Their support flat out said they cant send it, wasnt expecting too much from them either
USPS here seems to mess up the street numbers even when the address is proper. Quite a few times I see something for a different building sitting in the lobby of our building. If there is a phone number along with the address, I have called people to pick them up or sometimes I just take it to the other building if it is nearby.
May I ask, did this come in an envelope or was it one of those tear the sides thing?
thanks
thanks
Got all the expected cashback, except for one debited on March 10 and posted on March 11. Oh well.
So are we not getting final rent Cashback this month? ( For rent tagged before March 10th)
UPDATE: Received it today. Wish this would have lasted longer. Time to move money out. Only thing pending is 1099 for 2023. I’m not sure who will be sending that when Enzo is dead. Most probably this Zurp thing will handle that.
I got an email that Enzo is being taken over by Zurp so the existing customers can switch or close.
Zurp is offering 5% APY to existing customers, 1x rewards on rent payment, other benefits. Details are on https://www.zurp.com/enzo
Most people can’t pay rent with a card without incurring fees and it’s not clear if 1x Zurp rewards is even equivalent to 1%.
DoC posted about this company a month or so ago and IIRC, the rewards are donated to the influencer or cause that they’re supporting. It’s not like a normal rewards program, unless they’ve changed it since then.
Based on the Zurp terms, you will have to use the card or receive direct deposits to get the interest:
“Eligibility for Interest Rates. The interest rates and Annual Percentage Yield mentioned in paragraph 4 are only available for any month in which a Card holder is an Active User. An “Active User” in any month is a Card holder who either (i) makes at least five (5) POS transactions on the Card in that month or (ii) receives direct deposits into their Cash Account at least once in that month. Any Card holder, regardless of their Available Balance, who does not meet these eligibility requirements in any month will not receive any APY on their Account Balance.”
The shutdown is no surprise.
With the rewards gone and the other accounts offering higher interest, there was little point in keeping this account anyway. I had already withdrawn all but $1 from it and am just waiting for pending rewards to credit before withdrawing everything.
Bilt is a great alternative for rewards on rent. Getting rewards when paying credit card bills is a bit more difficult now that Coinbase no longer gives rewards for those transaction.
Received an email about Enzo transition to Zurp. Switch to Zrup or move out money from enzo
The new bank they recommended looks like it was designed by a fourth grader, and it doesn’t even seem to have an active checking account available already. My trust level in them is low.
“Dear Enzo Customer,
We appreciate the trust and support you have given Enzo and the opportunity to be a part of your financial strategy over the past few years. However, Enzo will be terminating its Deposit Account Program on 4/22/23.
As a result, Enzo has been searching for a viable alternative for our clients interested in a high yield account. We have made the decision to refer clients to Styl Bank, a Division of New Horizon Bank.
Styl Bank, a Division of New Horizon Bank is pleased to offer you a high-yield savings account with a 4.27% APY on any balance. This will ensure you can continue to enjoy high-yield savings and great service. Please follow the link here to complete the account transfer process: Stylbank.com The process will take less than 2 minutes.
If you are not switching to Styl Bank, we request that you promptly transfer out any remaining funds in your accounts and adjust any recurring payments you have scheduled into or out of your accounts to alternative bank accounts.
If you have questions or concerns you may contact us at [email protected]
We thank you for giving us the opportunity to serve you.
Best,
Enzo Customer Care”
Enzo will be terminating its Deposit Account Program on 4/22/23. They’re partnered with another bank… but the other bank is essentially a secured credit card. seems like a mess
Just got the email that they are closing up shop now.
“We appreciate the trust and support you have given Enzo and the opportunity to be a part of your financial strategy over the past few years. However, Enzo will be terminating its Deposit Account Program on 4/22/23.
We’ve finalized our partnership with another fintech, Zurp, who has agreed to offer legacy Enzo customers nearly all the same features you’ve enjoyed with Enzo. Zurp has even offered a promotional 5% APY for former Enzo customers for the first three months, then dropping to what is our current rate, 4.27% APY. Zurp is backed by folks like Scott Belsky, Gary Vaynerchuk, Baron Davis, and many others. Don’t forget to re-link your direct deposit when you switch over!”
Doesn’t sound like any that took out their money will need to do anything. It doesn’t seem to be a benefit for Enzo customers as Zurp is offering 5% to anyone right now if you go to their website and there also seems to be a 10000 point sign up bonus.