Swell Investing has announced that they will be shutting down, starting today they are no longer accepting new clients and the last day of operations will be August 30th, 2019. A lot of readers will have accounts due to generous referral promotions. Additional information about the shut down can be found here.
They’re shutting down before they even came out with an Android App. It’s weird, it seems like old executives think that they can just smack “social justice, environmentalism, etc.” on stuff and millennials will gobble it up without concern for even basic requirements (an app and a functional website would have been a start). And in that sense, I am glad to see this and similar concepts fail.
Kind of sad. They had a very nice skin for folio and were a friendly way for people to invest. I’ll miss the promos!
Not much of a notice. Yet another reason to get the bonus and exit.
Common theme of these start-ups- hand out insane promos that are completely unsustainable hoping for investor cash when they show a large userbase, fail to get said cash, then collapse.
Milk these while you can!
Glitch alert: I am unable to add another bank account to Swell. If your primary account is no longer open (mine isn’t), then is no way to transfer out money. I tried like adding 3 other banks via Plaid and it will not show up as added, even though I get to the screen that says it will was added. Tried BofA, Capital One, WF, PNC…. Tried logging out… tried rebooting… cleaning cookies/incognito.
Looks like to me when they blocked the ability to deposit/invest they blocked adding an external account.
Figured it out. When Plaid says your account is linked, on the next screen you have to highlight the specific external checking/savings account you want to add, then select “Continue”.
So loser error? I mean user error?
😈
Don’t you have some SB deals to do? Hulu? XM? I need some commission!
well that is not “swell” news
That’s just swell.
Good, after the fucking tax headache they gave me. Slimy company that barely paid out
Better than not paying out….
Details?
They invested mins and others portfolio in international LLP’s and such causing a big headache. They also retroactively changed referral terms and were a hassle to payout.
Oof. Glad I missed this boat. Better luck on closing the thing!
Oh no we shut them down
Amex is next.
Maybe you did? They never paid me the $300…. supposedly one of my three referrals did not stay funded the requisite 90 days. So, I got a whopping $50 for signing up and $50 for one referral. Win some, lose some.
I made an easy 50 dollars off them.