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Bottlepay closing!
The Bottlepay app is closing down
The Bottlepay app is closing down
Updated over a week ago

We’re very sorry to say that the Bottlepay consumer app will be closing on Monday 24th July 2023.

Are my funds safe?

Yes. But you will need to withdraw them from the Bottlepay app.

What does this mean for me?

As set out in our customer agreement, we are closing your account. The closure date will be two months from today: Monday 24th July 2023.

Before that date, you should withdraw your funds, either as Bitcoin or fiat currency (GBP/EUR), from the Bottlepay app.

If you have previously funded your Bottlepay account with fiat, you will have a ‘nominated bank account’ which you will be able to withdraw to. If this bank account has changed or closed, you should contact us via the in-app chat or by email.

Over the coming days, we will be stopping all deposits and exchanges from fiat to Bitcoin. Therefore, you will only be able to exchange from Bitcoin to fiat and withdraw both fiat and Bitcoin.

What happens if I don’t withdraw my Bitcoin?

Any Bitcoin left in your account after the closure date will be converted into fiat currency and returned to your nominated bank account. The resulting funds will then be transferred to your fiat account.

What happens if I don’t withdraw my fiat?

Any fiat not withdrawn from your account by the closure date will be returned to your nominated bank account.

What happens if you cannot transfer fiat to my nominated bank account?

If we cannot return your fiat currency to your nominated bank account, or if you have no nominated bank account, the fiat currency will be retained by Modulr, our fiat partner, for a period of six years. Within this period, you may at any time request your funds by contacting Modulr Customer Services.

Is there anything else I should consider?

We’d strongly recommend you use the downloads feature in the app to download all your statements before the closure date and store them somewhere safe. Bitcoin transactions can have tax consequences, so you may need this information in the future.

Will you be in touch again?

As we get closer to the closure date, we may contact you again if you still have Bitcoin or fiat held in your Bottlepay account. We will do this via the app or through email.

We will never ask you to initiate an offboarding process from outside the app - if someone gets in touch with you offering any offboarding process outside of our app, this is likely a scam, and you should report it to us via the in-app chat or email [email protected] so we can take measures to help protect other customers.

What are the next steps I should take?

Before the Bottlepay app closes you will need to do the following:

  1. Withdraw all funds.

  2. Download a copy of your transaction history.

  3. Close your Bottlepay account.

How do I withdraw any funds from my bitcoin account?

Before you start, you may want to check your account balances.

If you have funds in your bitcoin balance you have two options. Please tap the links below for further information on how to do this.

How do I withdraw any funds from my fiat account?

Click the new 'Bank withdrawal' button on your home screen. Alternatively, see this article for further details.

How do I download my transaction history?

Before you close your Bottlepay account, you may want to download your transaction history and may want to consider seeking financial advice. There may be tax implications for trading bitcoin.

How do I close my Bottlepay account?

To close your account, please see the following article: how to close your Bottlepay account.

And finally…

We’ve loved every minute of running Bottlepay, and we’re incredibly grateful to you, the customers who let us do it for as long as we did. 🙇

We wanted to offer you a safe, efficient place to get your Bitcoin and use it for payments, and we’re really sorry to put you through the inconvenience of having to leave us.

We can’t make recommendations about what to do with your Bitcoin - whether to find another custodial wallet, custody it yourself, or, convert it to fiat and withdraw to your bank account. If you are going to use another custodial wallet, though, we recommend you do your diligence on the provider first. Other FCA-registered cryptoasset businesses operating in the UK can be found on the FCA register here.

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