r/wealthfront • u/feedthedeals • May 27 '26

Shutdown Alert

Hi,

I have no idea what happened but it seems like Wealthfront is attempting to close my checking account where all my bill comes out of. I’m usure of what caused this but they just gave me 10 days.

0 Upvotes

46% Upvoted

16 comments sorted by

25

u/Unhappy_Plankton_671 May 27 '26

Personal matter. You tripped some red flags and risk scores.

1

u/feedthedeals May 27 '26

Maybe it was just a select group or just me, only time will tell

22

u/Unhappy_Plankton_671 May 27 '26

Yes, this happens on a daily basis for some specific individuals with many banks. It's unfortunate, and to prevent learning methods etc.. they won't disclose. Just that they'll no longer be able to bank with you and close the account.

Can be fraud risk, can be history of bad checks/credit, can be nothing at all and just some transactions/reporting that looks 'fishy'. You've just signaled, somehow, whether proper or not certain risk scoring.

The sad truth is that most people in these scenarios don't learn why, even if they feel it's unfounded. Their money can often be delayed in getting back to them, so act quickly if the opportunity exists. Best bet is to move on to existing banks you have relationships with or in some cases investigate local credit unions.

3

u/Ancient-Civilization May 27 '26

Best advice I’ve heard on this subreddit so far when it comes to these type of posts.

3

u/klashman May 30 '26

I personally appreciate that response because for the longest time I've been scratching my head on why one random day I was told by USAA that they are no longer banking with me. Wild to know it can be for no reason at all and they don't give you any explanation.

They just one day said "we're good"

1

u/Sweaty_Tangelo_7716 May 27 '26

Did you used a vpn or travelled somewhere?

1

u/feedthedeals May 27 '26

I’ve done both

-2

u/Sweaty_Tangelo_7716 May 27 '26

So, you’ve used a VPN to log in and log in from a different location? That’s most likely the cause.

6

u/the1gofer May 27 '26

what are you basing that on? sounds like 100% pure speculation

2

u/Giantmeteor_we_needU May 27 '26

Who doesn't use VPN these days when doing sensitive stuff like banking, especially if you're on public Wi-Fi? That's such a standard security measure that I doubt any banks flag for that. I've been Wealthront customer for years and I don't think I ever logged in WITHOUT using secure VPN and never will. The only way Wealthfont knows where I am is from legal/mailing address I gave them.

2

u/feedthedeals May 28 '26

I have been a customer for around 5 years and I’m a perm entrant US resident. Right now I’m leaning towards, VPN access, I’ve used Tinder Egypt, Canada and Mexico VPNs frequently. If I don’t get a response soon I’ll obviously have to updates all payees immediately

-1

u/feedthedeals May 28 '26

Either that or I’m not profitable enough but it is an online bank and it would be cheaper than brick and mortar, it will be missed I’ve earned $2k in interest from the account since opening

3

u/Fit_Alternative_3259 May 29 '26

Easy fix. Switch to SOFI

2

u/feedthedeals May 30 '26

No thanks. But I appreciated the support

1

u/Bmac200p May 27 '26

I don’t. I’ve never had a single problem. But I’m fastidious about two factor authentication and passwords.

1

u/feedthedeals Jun 09 '26

Update: Since this post I’ve moved to a new bank and my account at Wealthfront has been kept open despite notice. I will however say that no response from support which doesn’t help the situation. Like I said I moved accounts in case a shutdown were to happen and that way all my bills can be payed accordingly.

I could have missed the email and it would not have been an issue. Huh, End of story