Date: 12/6/2025
Dear Woli friend,
From day one, Woli’s mission was to help young people acquire smart financial habits and to give parents the tools to guide them. Together, we created a strong community where financial education is fun, empowering, and accessible. As we look into the future, we realize that with our current structure, we cannot further develop Woli as we had envisioned.
Therefore, we have made the difficult decision to cease Woli’s services within the coming months. However, the Woli team will continue working on brand new ways to make families better with money and equip the next generation with much-needed skills in this rapidly changing, digital world. As we embark on a totally new chapter for our company, we want to express our sincere gratitude for the trust, support, and moments we have shared on this journey.
We encourage you to read the following paragraphs as they describe in detail the practical information for the next steps.
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We’d like to inform you about your Paynetics electronic money account (the “Parent Account”), the associated account(s), linked to your Parent Account (the “Associated Account(s)”), and your Paynetics Visa debit card(s), linked to your Parent Account (the “Card(s)”), all of which are accessible through your Woli Mobile App.
Paynetics AD, company number: 131574695, seat and registered office: 76A James Bourchier Blvd., 1407 Sofia, Republic of Bulgaria, is the electronic money institution which provides you with the Parent Account, Associated Accounts and Cards and Woli Services Ltd., company number: HE 411043, seat and registered office: 16, John Kennedy Ave, 2nd Floor, NIVIAN COURT, 1087 Nicosia, Cyprus, is a registered agent of Paynetics AD for the territory of Cyprus which operates and supports Woli Mobile App.
We hereby regret to inform you that Woli Services Ltd. will no longer operate this program using Paynetics AD services.
With respect to the above, we would like to kindly inform you that the Cardholder Agreement – Consumers, concluded between you and Paynetics AD for the issuance of the Parent Account, the Associated Account(s) and the Card(s) (the “Agreement”), will be terminated as of 13/8/2025. Thus, please consider the present notice as a 2 months’ notice by Paynetics AD for termination of the Agreement pursuant to clause 14.4.1. of the Agreement.
This means that as of 13/8/2025 (the “Termination Date”), your Parent Account, Associated Accounts and Cards will be closed by us, and you will no longer have access to or will be able to use your Parent Account, Associated Accounts and Cards. Thus, we kindly recommend that you withhold from loading any new funds into the Parent Account and spend any remaining balances before the Termination Date.
If you still have remaining funds after 13/8/2025, you will still be entitled to receive them, minus any applicable fees. In order for us to be able to transfer such remaining funds, please contact us at support@paynetics.digital and provide us with the payment details of a payment account, held in your name by an EU bank/payment services provider, as evidenced by an official account statement. Please note that we may ask you for additional documents and/or information to verify your identity in accordance with the applicable laws.
FAQs
1. When will Woli’s services officially end?
Woli services will cease on 13/8/2025, at which point all Parent Accounts, Associated Accounts, and Cards will be closed. You will no longer be able to access or use your account or card(s) after this date.
2. What should I do with the remaining balance on my Woli account?
We recommend that you spend your remaining balance before the Termination Date. If you still have funds after 13/8/2025, you can request a transfer by contacting us at support@paynetics.digital and providing your EU bank account details and supporting documentation.
3. Can I still use my Woli card before the service ends?
Yes, you can continue using your Woli Visa debit card until 13/8/2025. However, we advise you not to load any new funds into your account.
4. What happens if I miss the deadline and still have money in my Woli account?
You will still be able to claim your remaining funds even after the Termination Date, subject to applicable fees. To do so, you must contact us and provide the necessary documents and bank account information.
5. Will Woli launch a new product in the future?
While Woli is ending its current services, the team is actively working on new ways to help families manage money and teach financial skills to kids and teens. Stay tuned for updates on our next chapter.
