here’s how to recover your savings and investments from the Corriere.it app

Exactly 7 years after its foundation, Oval Money pulls down the shutter. The App founded by Arese Luciniformer country manager of Uber Italia, e Claudius Bedinohas communicated to all its customers that, due to a change in market conditions and in relations with some of our business partners, Oval is forced to close its activities. Despite investments and efforts, we will not be able to continue to provide our services effectively and sustainably in the future. For this we are forced to ask all our users to withdraw funds from the application.

How the Oval app worked

The platform made it possible to set rules for the accumulation of savings in an automated way: it was enough to connect the application to one’s current account and establish the accumulation criteria, called Smart Rules: among these, the setting aside of a sum of money each time that you go shopping for the house, or when you publish a post on social media or when there is a credit on your current account (for example your salary); moreover, it was also possible to decide to make a recurring transfer every week or month. In the investment section, then, it was possible to choose one of the products offered by the platform (mainly Etn), also in this case in a completely automated way.

What customers have to do

What do customers need to do now to recoup their accumulated savings and investments? The first step access the application and on the Home screen check if there are any rsavings accumulated in the Save sectionwhere they were loaded all savings projects, defined as goals. If any, you need to transfer these savings to Pay: to do this, simply click on Withdraw for each project, entering the amount of each goal (the maximum to reset the stock). At this point, simply access the Pay section and choose the Bank Transfer option. A screen will open from which it will be possible to select the current account or card to which to make the transfer. If there are no accounts or cards, just click on New beneficiary and enter the account details, i.e. the holder, the Iban code and the country of residence. Subsequently, returning to the transfer screen, it will be possible to complete the operation, which will be processed in 3-4 working days. The transfer to an account outside Oval must be made by 9 May.

Stop instant transfers

In addition, Oval announces that weekly transfers have been disabled as of this week automatically fueled goals and investments. By the end of the month, however, users will have all the tax documents relating to their account available in the Archive section. Finally, the company informs that in order to present a formal complaint, it will be necessary to write to [email protected], indicating in the subject of the mail name, surname – tax code – complaint.