last updated June 16th, 2024

What is happening?

Ruby Money has been acquired by Novo. You can read the full announcement here.

As part of the transition the Ruby Money app will be shutting down completely on June 30th, 2024.

Ruby Money will no longer offer tax and retirement savings accounts.

• All autosave were turned off on June 3rd, 2024 and you will no longer be able to add additional funds to your Ruby Money tax or retirement accounts.
• All tax and retirement accounts opened in the app with Blue Ridge Bank, N.A. will be closed on June 30th, 2024.
• If you have a balance in your account on June 30th any remaining funds returned via a paper check to the address you used when you opened your account. If you need to update your address, please contact us promptly at [email protected] with your correct mailing address.

Ruby Money will no longer make tax payments to the IRS.

• You will no longer be able to submit quarterly estimated tax payments to the IRS from the app.
• For guidance on how to make payments, please refer to this IRS guide

What do I need to do?

We recommend taking the following steps prior to June 30th:

• Withdraw any funds currently stored in your Ruby Money reserve accounts by June 28th, 2024. All tax and retirement accounts opened in the app with Blue Ridge Bank, N.A. will be closed on June 30th, 2024.