Yolt, which has around 1.6 million users in the UK, France and Italy-although the majority are in the UK, uses a service called’open banking’ to allow customers to see all of their bank, credit card and investment accounts in one dashboard . You can also set-up your own Yolt account and use its prepaid card
But the ING-backed firm says the decision to shut is so it can focus on building its open banking technology platform. Yolt customers should have been contacted about the closure and has advised customers to withdraw money and delete their accounts ahead of the 4 December deadline .
Check out our Open Banking guide for more on how this works, and see our Best Banking Apps guide for further info.