Business
Fallen neobank Xinja returns customer deposits – Sydney Morning Herald
The neobank has returned over $252 million to customers and will hand back its banking license within weeks, says APRA.
Fallen fintech Xinja has become the first Australian bank to return all customer deposits, finalising the closure of its savings accounts more than a month after it made the shock announcement to exit banking.
The Australian Prudential Regulation Authority announced on Tuesday Xinja had returned $252 million in deposits to 37,884 customers and the remaining $65,908 would be transferred to the National Australia Bank for collection.
Xinja has become first Australian bank to return all customer deposits….
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