By Oliver Smith on 20th September 2019
Glint continued to sign-up new customers today and accept deposits even after filing.
Glint, the gold payment app, has fallen into administration, AltFi can exclusively reveal.
When asked on Friday the FCA confirmed to AltFi upon being asked that Glint had fallen into administration on Wednesday.
Likewise Glint continued to solicit new customers on social media up until and including on Friday, similarly, customers on social media reported receiving their cards and depositing funds on Friday, despite the company having filed for administration on Wednesday.
The FCA has published a note for concerned Glint customers, in it they confirm that deposits made are not covered by the Financial Services Compensation Scheme (FSCS).
AltFi previously exclusively reported that Glint had run into hot water at the beginning of the year, with a flurry of senior departures leading it to delay its US expansion and shelving its crowdfunding campaign.
AltFi is awaiting comment from Glint on its administration, trading activity following its entering administration on Wednesday, and status of its customer deposits.