Xinja customers fled neobank as crash loomed
Dec 22, 2020 â 10.35am
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Xinja customers were quickly clawing money out of the failed neobank in the lead up to its decision to pull up stumps and hand back its banking licence last week.
Founder and chief executive Eric Wilson has been focused on the safe and quick return of deposits to customers, a Xinja spokesman says.Â
Xinja confirmed it held about $250 million in deposits last week when it ordered customers to transfer their savings to other financial institutions. That was down from about $457 million in deposits at the end of June, according to a disclosure on Xinja s website.