Update to the Moves Collective

Moves’ mission is to create a gig economy that works for its workers. We believe a big part of this mission involves making every gig worker an owner in the gig companies they power. This belief is what sparked the initial launch of Stock Rewards over one year ago. Today, our conviction in the need for gig workers to be owners is stronger now than ever. 

To take our mission to the next level, we are upgrading the Stock Rewards experience. 

This upgrade process will take several weeks and will provide you more control and visibility to the stock you own. During this time, you will continue to earn rewards as usual, through Weekly Spending and Referrals. However, as part of this upgrade, you will notice a delay of the conversion of rewards into stock. Please note that this upgrade has no impact on your Moves Spending Account.

The following changes will be effective December 19:

  • New members will not be able to enrol in Stock Rewards until the upgrade is complete in early 2023.
  • Members who have been earning stock rewards will continue to earn rewards but they will not be converted into stock until our upgrade is complete in early 2023. 

You will receive an email from our current rewards partner, Bumped, in the coming days regarding their rewards programs. Your current account holdings are safe, secure, and remain protected. You will have 2 options for your current holdings.

You have 2 options for your current holdings:

Option 1: Sell your stock and withdraw the proceeds

You have the option to sell your stock via Bumped and transfer the proceeds to your Moves Spending Account or other bank account. To do so, visit the Stock tab in the Moves App to access your Bumped account.

Option 2: Do nothing and your account will remain with APEX

APEX Clearing Corporation has been Bumped’s underlying custody partner. If you do nothing, your stock will remain securely in your APEX securities account. Additional details will be provided in the email you will receive from Bumped.

We appreciate your understanding and support during these changes. We will continue to keep you updated on our new program. If you have any questions, please don’t hesitate to reach out via Live Chat on M-F from 10am-5pm, or email us at hello@movesfinancial.com. 

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