Welcome Today I’ll be discussing on How to Close, Delete or Deactivate your Renmoney Account Easily.
Renmoney is a popular fintech lending platform in Nigeria that provides quick access to personal and business loans. Many Nigerians have opened Renmoney accounts to get approved for short-term financing easily through the Renmoney app or website.
However, there may come a time when you no longer need or want your Renmoney account. You may want to permanently close your account or temporarily deactivate it. In this detailed guide, we provide step-by-step instructions on how to easily close, delete or deactivate your Renmoney account using the available options.
Benefits of Closing or Deactivating Renmoney Account
Here are some of the top reasons you may want to close or deactivate your Renmoney account:
- You no longer need loan services from Renmoney
- Moving to another lender with better rates or products
- Consolidating finances and loans to one provider
- Want a break from borrowing and debt obligations
- Concerns over fraud, hacking or security risks
- Unsatisfactory customer service from Renmoney
- Changing banks and financial accounts
- General preference to minimize number of accounts
How to Permanently Close Your Renmoney Account
Follow these steps to fully and permanently close your Renmoney account:
- Login to your Renmoney account through the website or mobile app
- Click on your profile icon or settings
- Look for account closure or deactivation option
- Select option to close account permanently
- Follow prompts to confirm account closure
- Provide reason for closing the account
- Make sure any outstanding loan balances are repaid
- Download or save final account statements if needed
Considerations Before Closing Renmoney Account
- Remember to save any e-documents, statements or tax info
- Close auto-payments or deductions to Renmoney from your bank
- Account closure is permanent – you cannot reopen same account
- Check for any pending disputes or issues before closing
- Repay any outstanding loan amount in full before closure
How to Temporarily Deactivate Your Renmoney Account
To temporarily deactivate instead of fully closing the account, follow these steps:
- Login to Renmoney account on website or app
- Go to profile settings or account options
- Select option to deactivate account
- Confirm deactivation and provide reason
- Account will be deactivated but details preserved
- To reactivate, login again and select reactivate option
- Account will be restored with same details as before
Benefits of Temporarily Deactivating Account
- Pause account activity and loans temporarily
- Prevent transactions or new loans during deactivated period
- Option to easily reactivate same account when needed
- Details and history preserved after reactivation
Contacting Renmoney Support for Account Closure Assistance
If you are unable to close or deactivate the account through the app or website, you can contact Renmoney customer support directly for assistance:
- Call their support line at 0700-736-37654
- Email support team at customercare@renmoney.com
- Chat with support agent online during business hours
- Visit closest Renmoney branch location in person
Explain your issue and request to close or deactivate the account permanently or temporarily. The agent will guide you through the process or perform the account closure on your behalf.
How to Delete Your Renmoney Account Information
To delete personal data from Renmoney after closing the account, you need to contact support and request data erasure:
- Ask to delete personal data under right to be forgotten
- Confirm the account has been closed already
- Specify what personal data should be deleted
- Data like names, contact info, ID details can be removed
- Transaction history may take longer to fully delete
- Wait for confirmation that data has been erased
FAQs On How to Close, Delete or Deactivate your Renmoney Account Easily
Is closing my Renmoney account permanent?
Yes, if you fully close the account it is permanent and cannot be reopened. You would have to open a brand new account.
Can I get a loan from Renmoney if my account is deactivated?
No, you cannot take out any new loans while account is in deactivated status. Reactivate it first.
Will deactivating my account hurt my credit score?
No, simply deactivating the account will not directly affect your credit score or lending reputation.
If I still owe Renmoney, can I close my account?
You cannot fully close the account if you have outstanding loan balances or are repaying an active loan.
How long does it take Renmoney to close an account?
Account closure is processed instantly when you confirm. Any pending items may take 1-3 days to finalize closure.
Will my loan repayment schedule change if I deactivate my account?
No, your existing repayment schedule remains the same even when the account is temporarily deactivated.
Can I get a refund on fees if I close my Renmoney account?
Unfortunately, Renmoney does not issue refunds on fees if you voluntarily choose to close the account.
What personal information can I request Renmoney delete?
You can request deletion of ID details, contact info, biometrics, statements and other personal data they have collected.
If I reopen my deactivated account, will my credit history be affected?
No, reopening a deactivated account will not impact your credit score or borrowing history.
Is there a fee to deactivate my Renmoney account?
No, Renmoney does not charge any fee when you choose to temporarily deactivate any account.
Can I get a new Renmoney loan if I already closed an account before?
Yes, you can apply for a brand new loan by opening a new account, even if you closed a previous account.
How long does Renmoney keep my personal data after account closure?
Closed account details may be retained for 5-10 years due to regulatory requirements. But you can request deletion.
What reasons can I give Renmoney for closing my account?
Any reason like moving to a new lender, wanting a break from borrowing, security concerns, unsatisfactory service etc.
How soon can I reactivate my deactivated Renmoney account?
You can instantly reactivate the account anytime by logging in and selecting the reactivate option.
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Conclusion
Renmoney provides a popular lending option in Nigeria, there are many valid reasons you may want to close or deactivate your account with them. Their website and app do provide clear options for permanent closure or temporary deactivation of accounts.
Be sure to settle any outstanding loans, download statements, and remove linked payments before finalizing closure. For deactivation, you can easily pause usage while retaining data to reactivate later.
If you have issues finding the closure options, Renmoney’s customer support can assist via phone, email or in-person. You can also submit requests to delete personal data per your rights.
Closing accounts with lenders is very common as people’s financial needs and preferences change over time. By following the proper steps outlined here, you can seamlessly close, deactivate or delete your Renmoney account without hassles.
Just be certain the account status change aligns with your current borrowing requirements. And you’ve saved any needed details from Renmoney before finalizing the permanent closure of an account.
After reading this blog you know about How to Close, Delete or Deactivate your Renmoney Account Easily.
