Finder is Shutting Down Finder Earn on 24 November 2022 Due to Interest Rate Increases

Finder Earn is being sunset

From Thursday 24 November, we will no longer be offering Finder Earn to our members. At Finder we always put our members first, and are dedicated to investing our focus towards innovations that serve you best.

To put it simply, we have determined that Earn is no longer serving our members as it did in a low-rate environment.

Finder Earn was designed to give our members a competitive return on their cryptocurrency. As interest rates have increased and the macroeconomic environment has changed, it's now possible to get a more attractive return elsewhere.

If you're an existing Finder Earn member, your Earn balance in TAUD will automatically be transferred out of Finder Earn in full, then converted 1:1 into AUD which will be added to your cash balance within your Finder Wallet account. This process will occur shortly after midday AEDT on Thursday 24 November.

You are of course welcome to transfer your TAUD out of Finder Earn at any point in time beforehand, or you may continue enjoying Finder Earn until the above sunset is complete.

Once the TAUD transfer and conversion is complete, you can use your AUD funds to purchase other cryptocurrency in the app, such as Bitcoin or Ethereum, or withdraw to your nominated bank account.

If you wish to transfer out of Finder Earn earlier, please follow the step-by-step instructions below or in our guide here.

We would like to thank everyone who used Finder Earn.

Over the last year, our members Earned over 500,000 TAUD and we're proud to have been able to offer such an innovative product to our members.

We hope you will continue to use Finder to manage your budget and make better financial decisions. All other features in the Finder app, including crypto trading, will continue to operate as per normal.

If you have any other questions or need help with anything related to Finder Earn or the Finder app, please reach out to our customer care team by tapping the blue and white message icon in the bottom right of your screen.

Frequently asked questions

Why are you sunsetting Finder Earn?
Finder Earn was designed to give our members a competitive return on their cryptocurrency. As interest rates have increased and the macroeconomic environment has changed, it's now possible to get a more attractive return elsewhere.

If you're looking for somewhere to move your funds, you could consider the following:
* Compare high interest savings accounts. Some accounts now offer rates above 4% p.a.
* Trade crypto fee-free in the Finder app.
* Invest in an index fund.

Are my funds safe?
Yes, all Finder Earn balances are safe. Every TAUD you've earned and every TAUD you have transferred to us will be transferred out of Finder Earn in full, converted 1:1 to AUD and added to your cash balance on Thursday 24 November.

Is there anything I need to do?
If you're an existing Finder Earn member, your Earn balance in TAUD will automatically be transferred out of Finder Earn in full, then converted 1:1 into AUD which will be added to your cash balance within your Finder Wallet account.

This process will occur shortly after midday AEDT on Thursday 24 November. You can also choose to transfer your TAUD out of Earn before this date by following the step-by-step instructions here.

You will no longer be able to transfer TAUD into Finder Earn from Tuesday 22 November 2022.

What will happen to my Earn balance?
You will continue to get a return on your TAUD until Thursday 24 November. You will receive your final daily payout at 11:30am AEDT on Thursday and then your remaining Earn balance will be transferred out of Finder Earn, converted 1:1 to AUD and added to your cash balance in your Finder Wallet account.

Will you be offering Finder Earn again in future?
There are currently no plans to reintroduce Finder Earn in the short term, but it's possible that we may offer it again at some point.

How can I access my Finder Earn transaction history?
You can request a CSV file of your transactions for both Finder Earn and crypto trading by following these instructions:
1. Tap on the "Settings" tab.
2. Scroll down to the "Help" section.
3. Tap "Get support".
4. Select "Finder Wallet (incl. crypto trading)".
5. Tap the blue "Send us a message" button.
6. Request your Finder Earn CSV and tap "Send".
We should respond to you within a few hours to email your transaction CSV.

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Comments

  • +9

    I'm sure it has nothing to do with the fact that crypto markets (which Finder has admitted to investing in using funds through this service) are collapsing because the entire crypto scene is a negative sum Ponzi scheme with no value. No relation at all I'm sure, and those aren't actually rats fleeing the sinking ship.

    • +1

      They invested in crypto? What a bunch of knobs.

      • +1

        They didn’t invest, they speculated

  • +1

    Finder was sued by ASIC a few weeks after this. A week before ASIC sued, the co-CEO of Finder stepped down. I am sure there is no relation to that either 🤭

    I made comments when the Finder Earn product was posted as a "Deal" lamenting about the lack of regulation. Maybe ASIC read my post lol

    • Hmm…

      After ASIC notified Finder Wallet of its concerns, Finder Wallet ceased offering Finder Earn from 24 November 2022 and all funds were returned in full to customers.

  • how is it as a PFM?
    can i link CDR OpenBanking to BNPL; and creditcards like Latitude, Coles and AmEx?

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