- Tuesday, August 9, 2022
- Wednesday, August 24, 2022
- Thursday, September 8, 2022
- Friday, September 23, 2022
Why is Point closing all Neon debit accounts?
Point’s bank partner can no longer support PointCard Neon, and therefore all PointCard Neon debit card accounts will be closed by Friday, September 23, 2022.
Making this difficult decision will enable us to fully focus on serving you with our new flagship product - a modern charge card packed with more of the features you love, like configurable rewards, privacy-first design, and exclusive travel benefits.
How was this update communicated to cardmembers?
All PointCard Neon cardmembers have been sent a formal notification email to the email address connected to their account, this email was sent out on Monday, July 25, 2022. The email provides notice of the account closure date alongside detailed next steps about how to withdraw funds from the account and other recommended actions before account closure.
What does this mean for me?
Tuesday, August 9, 2022
You will no longer be able to pull funds into your account.
On Tuesday, August 9, 2022, you will no longer be able to initiate new ACH debit transactions. In other words, you will no longer be able to “pull” money into your PointCard Neon account as of August 9, 2022. You will still be able to initiate withdrawals, and we will still support direct deposit and autopay for the time being. However, you should begin making arrangements to update your information on file for direct deposit or autopay. Don’t worry, though - we’ll remind you.
Wednesday, August 24, 2022
You will no longer be able to make purchases with your card.
On Wednesday, August 24, 2022, you will no longer be able to transact on your PointCard Neon. In other words, you will no longer be able to make purchases or payments with your PointCard Neon as of August 24, 2022.
- IMPORTANT: If you have scheduled automatic payments to process on your PointCard Neon, they will not process as of August 24, 2022. Please update your payment information, as needed, before then.
Thursday, September 8, 2022
Your account will be disabled.
On Thursday, September 8, 2022 all other transactions and features of your PointCard Neon account will be disabled and your ability to use and access your PointCard Neon account will be terminated. In other words, all remaining ability to transact on your account will end as of September 8, 2022.
We reserve the right to reject any transaction on your PointCard Neon account on or after September 8, and we are not responsible for your losses that may result from our refusal to accept a transaction. We may reject the deposit or credit if we receive a deposit or other credit to your PointCard Neon account on or after September 8. This may result in your inability to access the funds deposited or credited to your account until the remaining funds in your account are returned to you.
- IMPORTANT: If you receive Benefit Payments to your PointCard Neon account, please update your information with the appropriate agency, department, or third party as soon as possible. Benefit Payments are payments for a Federal entitlement program or for an annuity, including, but not limited to, payments for Social Security, Supplemental Security Income, Black Lung, Civil Service Retirement, Railroad Retirement annuity and Railroad Unemployment and Sickness benefits, Department of Veterans Affairs Compensation and Pension, and Worker's Compensation.
Friday, September 23, 2022
Your account will be closed. The remaining funds will be returned via ACH or paper check.
Your PointCard Neon account will close on Friday, September 23, 2022. If you have money in your account at the time of account closure, we will return your funds to you by ACH transfer to your linked bank account. If there is no linked bank account, we may return your funds via paper check to the mailing address we have on file.
- IMPORTANT: Make sure your external bank account and mailing address information associated with your Point account is up to date.
Alternatively, you may close your account any time before September 23, 2022. To do so, contact our Member Support team by email at firstname.lastname@example.org. We may refuse to close your account or to immediately return any remaining funds to you if your account is not in good standing or has a negative balance if we suspect fraud or abuse, or for any other reason set forth in your agreements with us.
How can I transfer money out of my account?
Link an external bank account in the Point App to withdraw funds at any time before account closure. More details on how to make this happen here.
You can also submit a request at your external bank to debit money out of your Point account.
If you still have money in your account at the time of account closure, we will return your funds to you by ACH transfer to a linked bank account. If there is no linked bank account, we may return your funds via paper check to the address on file.
What other actions should I take?
In addition to transferring out any remaining funds before your account is disabled on Thursday, September 8, 2022, if you receive direct deposits in your account, such as payroll or benefits, you must make other arrangements to receive these direct deposits by other means. Similarly, if you have recurring payments set up with your account, such as utilities or subscription payments, you must make other arrangements to continue making those payments by other means.
Will I be able to access the app and transaction details after account closure?
You will be able to access the app until Thursday, December 22, 2022.
- IMPORTANT: We advise downloading any statements and other account information you wish to retain for your records at any time before then.
Where can I find my account and routing information if I need it at a later date?
Your account and routing numbers are on every Point account statement. We advise downloading statements you wish to retain.
Will returns or refunds still be processed to my card?
Returns and refunds may not process after Wednesday, August 24, 2022.
If you expect a return or refund, we suggest that you reach out to the merchant and request an alternative method for the return or refund. You may reach out to us at email@example.com if you need further assistance.
What happens to my data after my account is closed?
I have additional questions - how do I contact Member Support?
Please contact Member Support by emailing firstname.lastname@example.org.
What’s next for Point?
Point looks forward to serving you with our new flagship product – a modern charge card packed with more of the features you love, like configurable rewards, privacy-first design, and exclusive travel benefits.
Can I apply for the charge card when it’s available?
Yes. Additionally, all Neon cardmembers will be eligible to have the first year’s membership waived when they qualify and open a PointCard account. If you haven’t already, please sign up for the waitlist here or check your spot in line.