PerkStreet Financial is Shutting Down
That’s right. You read the title correctly. Perkstreet Financial is closing it’s doors. After being successful for a couple of years when the big banks were charging us crazy fees for using our debit cards and just keeping money in the bank, Perkstreet can no longer remain open.
I heard the news on Daily Finance and I was a little astonished. Perkstreet has been a banking program that rewarded you for using their debit card. You earned some good rewards and their program was liked by many people. I even told quite a few people to switch over to them and they were very happy with the product and service. You can see that their customers are not happy with all the questions on Twitter.
I think it is sad to see an organization that tried to change the way people bank go under. They didn’t do anything bad to their customers and they tried to offer a different approach to the way that we bank. Unfortunately, that model was just not sustainable. They were unable to get the funding that they needed to keep going. All customers rewards have been vanquished and will not be rewarded. They just don’t have the funds to do it.
It is funny that when the big banks were struggling, they were bailed out by the American consumers, but when a bank that doesn’t cause the mortgage crisis is having trouble, they get to fall by the way side. Sorry Perkstreet!
If you are a Perkstreet customer, know that your account will be transitioned to Bancorp and Provident. There will be no rewards program, though. Perkstreet will officially shut down on September, 26, 2013.
Here is the explanation that they put on their website: