(Update: apparently it’s been fixed already)
This is just a temporary issue, but I’m putting this out there since it’s affecting many readers:
Rakuten points can be received as cash or as Membership Rewards points or as Bilt points. (You need status with Bilt to get full 1:1 value on the Rakuten transfers.) Rakuten sends out payments quarterly around the 15th of the month.
For some reason, transfers going out to Bilt today are getting cancelled and sent back to Rakuten.
Bilt is aware of the issue and working on correcting it, per their Reddit comment.
Hat tip to reader Jay
