IMPORTANT INFORMATION REGARDING

Closure of Your Douugh Account

Douugh has shut down operations in the U.S. and, as a result, your Douugh account was closed and your funds returned to you. As Douugh’s banking partner, Choice Financial Group has assisted with the closure of your Douugh Account.

Your Douugh account officially closed on March 29, 2023. For more information, see below.

Douugh Closure

Why is Douugh no longer providing financial services in the United States?  
Douugh has decided to discontinue its services in the United States. Douugh does do business in Australia and will continue their presence in the financial sector there.

When is Douugh no longer going to be available?
Douugh has officially closed your accounts on Wednesday, March 29, 2023 at 12:00 AM CT. All payment facilities are no longer available.

Why is Choice handling customer service for my Douugh account?
As Douugh’s banking partner, Choice Financial Group assisted as Douugh shut down their operations in the US. Our top priority is to ensure that Douugh’s customers are supported even after your accounts are closed with our exceptional #PeopleFirst service.

Who can I contact if I have questions?
You can reach Choice Financial Group’s Customer Service Team at (888) 894-1357 or help@bankwithchoice.com if you have any questions or need help. The Choice Financial Group Customer Service team is available 8:00 AM – 5:00 PM (CST) Monday-Friday.

I had money in Spending Jars, Bills Jars, Stash Jars, and Portfolio Jars, how many checks will I get?
We have consolidated all positive accounts for you and will send one check with a combined balance.

Why haven’t I received my check yet?
Checks will be sent with the United States Postal Service (USPS) and typically arrive within 7-10 business days. Some customers may experience longer mailing time with USPS, so if you do not receive your check within 14-20 business days, please contact us to ensure we have the correct address associated with your Douugh account. Checks not processed within 90 days of the check-issued date are considered stale, please contact us to be reissued funds.

I’m losing money because of this. What are the tax implications of investment liquidation?
We understand the frustration of liquidating your wealth management account with Douugh. Unfortunately, this was a necessary step to wind down business and ensure you’re able to receive your funds post closure of Douugh Wealth accounts.

My card stopped working, what’s going on?
Douugh has decided to discontinue its services in the United States. As a result, we communicated with active account customers on December 28, 2022, that accounts would be closed and funds returned. Additionally, we communicated with users who previously had suspended accounts with positive balances on February 6, 2023, that accounts were reactivated and would be closed and funds returned.

Why can’t I transfer my funds out of my account?
Douugh has decided to discontinue its services in the United States. As a result, we communicated with active account customers on December 28, 2022, that accounts would be closed and funds returned if not transferred by you. Additionally, we communicated with users who previously had suspended accounts with positive balances on February 6, 2023, that accounts were reactivated and would be closed and funds returned if not transferred by you.

My social security money went into my Douugh account. What do I do?
SSA sent my money to my Douugh account and they haven’t received a return, what do I do?
Not to worry! We can get the right team involved to resolve your situation. Please email the details of your request to help@bankwithchoice.com.

My account was overdrawn. How do I settle the outstanding balance?
Not to worry! We can get the right team involved to resolve your situation. Please email the details of your request to help@bankwithchoice.com.

I need copies of my statements.
Not to worry! We can get the right team involved to resolve your situation. Please email the details of your request to help@bankwithchoice.com.

I had a charge on my account that was fraud.
Not to worry! We can get the right team involved to resolve your situation. Please email the details of your request to help@bankwithchoice.com.

Douugh U.S. was operational through March 28, 2023, and winded down account services gradually leading up to that date, as detailed below.

On Friday, January 27, 2023

  • Your debit card issued through the Douugh program was deactivated.

On Tuesday, March 28, 2023 at 11:59 PM CT

  • We terminated your ability to make automatically scheduled payments, including ACH.
  • We terminated your ability to send payments from your account manually.

On Wednesday, March 29, 2023 at 12:00 AM CT

  • Douugh closed your account and, if applicable, the remaining balance of your account will be sent to you via check to the address you currently have on file with us. Funds from Spending Jar, Bills Jar, and Stash Jars have already been consolidated; you will receive one check.

After Wednesday, March 29, 2023

  • Checks will be send with the United States Postal Service (USPS) and typically arrive within 7-10 business days. Some customers may experience longer mailing time with USPS, so if you do not receive a check within 14-20 business days, please contact us to ensure we have the correct address associated with your Douugh account.
  • Checks not processed within 90 days of check-issued date are considered stale, pleases contact us to be reissued funds.

For customers with Douugh Wealth Portfolio accounts:

Douugh was operational through Tuesday, March 28, 2023.

  • At 11:59 PM CT, we terminated access to Portfolio Jars provided by Dough Wealth.

On Wednesday, March 29, 2023 at 12:00 AM CT

  • Douugh closed your Douugh Wealth account and will send any remaining available balances to you. Any investment amounts not previously liquidated has been liquidated and the cash positions directed to your linked account that you used to establish your Douugh account. Funds from any Portfolio Jars have already been consolidated; you will receive one check.

After Wednesday, March 29, 2023

  • Checks will be send with the United States Postal Service (USPS) and typically arrive within 7-10 business days. Some customers may experience longer mailing time with USPS, so if you do not receive a check within 14-20 business days, please contact us to ensure we have the correct address associated with your Douugh account.
  • Checks not processed within 90 days of check-issued date are considered stale, please contact us to be reissued funds.

Questions?

Please email us at help@bankwithchoice.com or call (888) 894-1357 if you have any questions or if we may be of any assistance. The Choice Financial Group Customer Service team is available 8:00 AM – 5:00 PM (CST) Monday-Friday.