Fold had this debit card where if you spun this wheel, you could earn rewards back in bitcoin. A month ago or so, they had this wheel that gave you up to 10% back (up to $100) It was great because of this:
Fast forward a few weeks later, they blocked a lot of accounts (well almost all that were doing the above) from withdrawing their bitcoin because they were doing a “review” of the accounts. I think a month of the review, well they finally decided to axe us all per this email the other day:
Hello,
Your Fold account was flagged for spending behavior that violates of our terms and conditions and our banking partners AML obligations. At Fold, we like to let gamers game. But we also have obligations to prevent spending patterns that look like something more nefarious than stacking sats.
Therefore, we have no choice but to terminate your Fold App account and your Fold Card account, effective September 23, 2021. Additionally, effective immediately, your Fold Reward account has been terminated, which means you will be unable to earn any new rewards or withdraw any rewards that you have or may appear to earn.
The good news is that, until that time, you may add funds to or withdraw funds from your Fold Card account. You may also spend your current balance. Additionally, after September 23, once your Fold App account is closed and after you have withdrawn or spent all of the funds from the Fold Card account, we will refund you any amounts which you paid to us for an activation fee (for Spin Tier) or annual fee (for the Spin+ Tier).
If you need assistance withdrawing funds from your Fold Card account, please see this guide: https://support.foldapp.com/hc/en-us/articles/360056679332-How-do-I-move-funds-from-the-Fold-Card-to…
If you have any questions about withdrawing funds from your account, please reply to this email and we will help you with the process.
– Fold
So it seems that Sutton Bank wasn’t happy with all the credit card payments. But you know what’s wild, even this one account got banned:
I have to be careful about what I say, so let’s just say GOOD RIDDANCE FOLD just like Binji
Care to drop the deets? I wouldn’t mind getting the AF refunded as I don’t use the card since the spins are almost always crap.
It’s literally in the pictures
Hopefully you made lots before they shut you down. Seems pretty good too if they refund the AF.
a few K
Great write up. I knew nothing about this play but it is crazy how this company suggested something then got mad when people did it. Just curious: did they tell people how to pay a credit card with a debit card? That’s not really a straightforward thing to do so it’s odd that they even threw it out there as a possibility.