I tried Fold for about a year and was always unimpressed. The PayPal bill pay thing wasn’t something I could use. From the long-promised instant funding that was lackluster and slow when finally launched, to the constant struggle to try and outpace the yearly fee with my rewards/spins on purchases, I found my experience with them to be a big hassle and not worth the time or money spent using their service. I canceled when the changed their Spin+ fees a few months ago and I haven’t looked back.
Discussion
The instant funding, is instant, but now you can only instant fund 3 times a month for free. I get why they do that. They need our funds in their partner's bank account. If we hold in our own account until we need a bill paid, then they don't get to invest our funds as banks do. I get it. It's just one gimmick after another that annoys me. I love the sats back on things I'm already going to have to pay though.
It’s good that reliability got better with instant funding. When they first rolled it out I had multiple instant debit deposits get delayed before showing available. But yea the 3 per month limit is a perfect example of the kind of silly limits they put in place. I felt like they were quick to make changes that were best for Fold, not necessarily best for Customer. I just found it to be a hassle for my usage. Any extra sats are a good thing if it works for some people.
Why instant fund for only $500 though.
I will keep using FOLD because I do well personally but those 3 extra spins were a major swing.
It does seem like more is being stripped away. Not sure why.
There entire company is a LARP. Pointless product that does absolutely nothing other than pull venture dollars that might otherwise fund non-moronic things, but people like being performative around their "bitcoiner identity". Like sports fans. Yuck. Glad you saw through it!