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Elevate Pay Important Update: Move Out Your Funds Before It's Too Late!

Are you using Elevate Pay? There is an urgent update you must act on immediately. As of February 28, 2025, Elevate Pay will transition to Regent Bank for its USD banking services.

This transition will result in the immediate closure of your current Elevate account. I received an email from the Elevate Team stating:

We cannot open your new account with Regent Bank before the closure of your existing account with Bangor Savings Bank. We cannot offer automated movement of your funds.

Why does this matter, and what else is there for you to know and do? I discussed this with Elevate Pay’s support team. This short blog explores everything you need to know regarding this update.

Read Below!

Elevate Pay transition update

Overview of Elevate Pay Transition

Nobody knows the reason behind this transition. The support team declares it a step to enhance their service experience. The app has been performing at its best since its launch date and has become a trusted network for the people of Pakistan.

However, frequent maintenance updates, service outages, and card discontinuations are causing users ongoing challenges. The transitioning update is yet another addition to the experience.

Elevate Pay notice of transitioning to Regent Bank.
Source: Elevate Pay

As we enter 2025, I hope Elevate Pay will expand its network and offer card service in Pakistan. I am also a user of this app, and the service would be excellent if they provided permanent and stable solutions.

Read my honest Elevate Pay review here!

Elevate Pay Transition: Immediate Steps to Take

As per this transition, users have been requested to move their funds from the existing Elevate Pay account before February. You can either move the funds to any other USD bank account or withdraw to your local bank account in Pakistan.

Here is what you must do immediately:

  • Move out any funds remaining in your account either via ACH to another USD bank account or to your local home bank account.
  • Download your statements from the Account Details section in the app.
  • Inform anyone who sends you money to your Elevate Pay USD account.

Can You Accept Payment from US Clients via EasyPaisa?

Elevate Pay’s support team is available to guide you along the process. You can contact them at help@elevatepay.co for concerns and queries.

What will Happen on 28th February?

As per the statement of the Elevate Pay team, the following actions will take place on the specified date:

  • Your account at Bangor Savings Bank will be automatically closed.
  • Any funds remaining in your account will be issued and mailed to your registered address. (Please note that this option would probably not be feasible if you are in Pakistan.)
  • Transactions made to your account on or after the declared date will be declined or returned. This includes all kinds of deposits, transfers, and card transactions.

If you fail to transfer your funds before the date, your balance in the account may be stuck or lost. Therefore, it is better to do it asap.

When will the New Account with Elevate Pay Be Ready?

There is no final date mentioned by the Elevate team in the email. However, they have confirmed the expected launch on March 31st, 2025. A step-by-step account activation guide will be shared with the users once the new accounts with Regent Bank are ready.

Final Words

So, this is all for the blog about the latest transition update from Elevate Pay. I hope this helps you. Do let me know in the comments.

To ensure you never miss important updates and alerts, subscribe to my newsletter and follow me on social media for timely information and expert insights.

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