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OST (@guest_1693956)
September 14, 2023 16:09

 Chuck  William Charles
New email:

As previously announced, we will be closing M1 Checking Accounts as part of our mission to build a better M1. Interest on these accounts has dropped to 0% APY. M1 Spend Visa® debit cards will expire on our ultimate account closure date of October 31, 2023.

The following account features will end on October 15, 2023:
Cash back on M1 Spend Visa® debit card purchases
1 ATM reimbursement/month
International fee reimbursements

Close your account on a high note
Be sure to update any automatic deposits or payments you’ve set up, move any remaining funds to a new location, and prepare to use a new payment method. For full instructions, visit our Account Closure Checklist.

OST (@guest_1693958)
September 14, 2023 16:10

July and August 1% cb still received. My guess is Sep will work as well. Not sure if/how Oct 1-15 will be paid out. Check maybe?

HarryTheFirstHarry (@guest_1646800)
July 3, 2023 22:57

wonder what would happen to the recurring transfer bonus if it was already setup for Checking. With 4 months still to go to complete the 6 months required, that would surely put it past the Oct 31st date. Not sure if converting the checking to savings would retain the same account numbers which would be the only way to continue the recurring transfer if at all.

TesticleBlisters (@guest_1653803)
July 14, 2023 10:50

I would contact support and save the transcript in case things go south

OST (@guest_1640831)
June 24, 2023 04:57

Received confirmation that 1% cashback on debit will STOP July 1st!!!!!!

007 (@guest_1640845)
June 24, 2023 05:55

Confirmation from whom?

OST (@guest_1640849)
June 24, 2023 06:02

007 I sent an email to support explicitly asking about this

007 (@guest_1640874)
June 24, 2023 08:33

Thanks, that is really annoying as the email doesn’t mention that change at all. Glancing briefly through terms and conditions I don’t see the cash back mentioned, so I suppose there is no way to fight it if it is stopped July 1st despite no mention in the email 🙁

007 (@guest_1642035)
June 26, 2023 11:42

Confirmed via my own email to support:

“Starting July 1st, 2023, you will no longer earn interest and 1% cashback on your M1 Spend Checking Account. All existing M1 Checking accounts will be closed on October 31st, 2023.”

Oh well, it was good while it lasted.

Ron (@guest_1645498)
July 1, 2023 19:30

007 P2 got email about zero interest rate starting July 01 but nothing about 1% debit card cashback also ending. Does your email explicitly mention cashback ending ?

On the other hand I received no emails at all. So not sure if M1 is doing it phase by phase.

Are there different versions of what’s changing being sent ?

007 (@guest_1645519)
July 1, 2023 20:24

No my email did not say anything about cashback but when I reached out to support they mentioned it.

I believe both p1 and p2 got same email on our end, although only p1 still has m1 plus.

LX (@guest_1670136)
August 10, 2023 20:40

I got paid 1% in Aug for July, so it definitely still works.

OST (@guest_1670141)
August 10, 2023 20:42

LX my test payment got 1% as well although I’m still switching because I don’t wanna risk them actually axing it

TesticleBlisters (@guest_1639207)
June 21, 2023 16:45

Just received an email that M1 plans to close all checking accounts by October 31, 2023. APY will be 0% effective 7/1/23

Rbrcpa (@guest_1626558)
May 31, 2023 09:37

Sucks they’re not letting you open checking accounts anymore. I just did all sorts of research on the best online checking/savings combo to switch to and had landed on M1. Only to find out I can only open a savings account!

reinventingzero (@guest_1623436)
May 24, 2023 22:37

So they’re completely shuttering their debit product then?

007 (@guest_1623466)
May 25, 2023 00:01

Seems per posted link you just can’t open a new one. My current one still works

007 (@guest_1623467)
May 25, 2023 00:02

“ What’s happening to my M1 Spend Checking Account? 

Starting May 19th, the only change to M1 Checking is that you’ll no longer be able to open additional Checking Accounts. ”

Indie (@guest_1392524)
June 8, 2022 15:58

Did everyone receive May cashback for debit spend?
I just received May statement after 7 days in June already passed and now don’t see any cashback ?

WGU (@guest_1392532)
June 8, 2022 16:07

Got mine today around 11am PST.

Shelly (@guest_1307861)
January 1, 2022 21:14

Looks like there is a bonus of $30-$500 depending on initial deposit

William Charles
January 4, 2022 18:11


Peek (@guest_1322668)
January 28, 2022 15:16

 William Charles Just got a $100 offer for M1 Checking, have to hold $2500 till May:
1.Open a new M1 Spend checking account between January 28 – March 31.
2.Deposit $2,500 within the first 14 days of account opening.
3.Maintain your balance until May 13 for a $100 bonus deposit.

Jamie Martin
Jamie Martin (@guest_1301319)
December 17, 2021 00:44

would be cool if m1 plus was free with a direct deposit like other places do

Barry (@guest_1298252)
December 12, 2021 16:16

I signed up for M1’s trading account with all the promised NO FEES.
Except when you close the account there is a fee. Meaning you will never be able to use 100% of your money.
So same as if they charged you an opening fee,
Not sure if this is relevant to their checking but just sharing that they’re a sleazy company..
Hope it will help someone.

Jeff (@guest_1305489)
December 28, 2021 01:18

Not the same. The whole idea of a brokerage account is to grow your money. An opening fee is worse than a closing fee unless you plan on losing money over the life of your account