Milli Bank will be closing
Milli’s closure will take effect on November 15, 2024.
We understand this might come as a disappointment, but please be assured that this decision was made with great care. We sincerely thank you for your trust and support throughout our journey.
To close your Milli account now, please follow these steps:
Open your Milli app
Tap the person icon in the upper left corner to access your “Profile”
Tap “Support Center”
Select “Close my account”
Tap “Get started” and follow the three steps to close your account
Milli Closure FAQs
Important Dates around Milli Bank closing
- Tuesday, October 01, 2024: You will no longer be able to initiate
transfers into your Milli account from external accounts using the transfer
features within the app. - Friday, November 15, 2024: All Milli accounts will be closed, and you will not be able to use your Milli Visa® Debit Card(s). We will issue a check for your remaining account balance to the address on file.
How do I transfer money out of my Milli account?
- Select your Milli account (i.e. Spending, Jars, Savings).
- Tap “move money”.
- Select “transfer out”.
- Enter the amount you’d like to transfer.
- You should see the account you’d like to transfer to displayed on the screen underneath the amount. If the wrong account is shown, tap “Change” and select the correct account.
- Tap “Continue”.
- Tap “Confirm”.
And you’re done!
Is my money safe and FDIC-Insured?
Yes. Milli Spending and Savings (including Jars) accounts are provided by First National Bank of Omaha (‘FNBO’). First National Bank of Omaha, FNBO, and Milli are the same FDIC-insured bank. If you have deposits in the same right and capacity with more than one of these, those deposits are added together and insured in accordance with the regulation of the Federal Deposit Insurance Corporation (the “FDIC”), they are not separately insured. For more information on understanding deposit insurance, please visit FDIC.gov.
Account Closure Checklist
- End any recurring transfers you have set up from other banks into Milli
- Redirect direct deposits to a new financial institution
- Update any payments that use your Milli Visa® Debit Card(s)
- Transfer your account balance out of Milli
- Initiate closure of your Milli account