How to Close, Delete or Deactivate your Renmoney Account Easily

Renmoney is a digital bank and microfinance lender in Nigeria. It was founded in 2012 and offers a range of financial services, including personal loans, business loans, savings accounts, and investments.

Renmoney is known for its fast and easy loan application process, and its competitive interest rates. It also offers a variety of loan products to meet the needs of different borrowers, including salaried employees, self-employed individuals, and business owners.

In addition to its loan products, Renmoney also offers a range of savings accounts and investment options.

Renmoney is a licensed microfinance bank in Nigeria, and it is regulated by the Central Bank of Nigeria. 

If   you looking to close, delete or deactivate your Renmoney account, this blog post, will walk you through the steps on how to do so in a simple and easy-to-follow way.

First, what are the reasons to deactivate or close your Renmoney account?

Reasons to Deactivate or Close Your Renmoney Account

Reasons to close, delete, or deactivate your Renmoney account:

• You no longer need financial services: If you have found another financial institution that better suits your needs, or you no longer require the services that Renmoney offers, you may want to close your account.
• Unsatisfactory experience: If a user has had a negative experience with Renmoney's services, such as encountering difficulties with the loan application process, unsatisfactory customer support, or unfavorable loan terms, they may decide to close their account.
• Security reasons: If you suspect unauthorized activity or have concerns about the security of your Renmoney account, it's advisable to close it to protect your assets.
• Privacy concerns: You may prefer to limit your online presence or reduce the number of accounts you have. Closing your Renmoney account can help protect your personal information.

How to Close, Delete or Deactivate your Renmoney Account Easily

If you've decided to deactivate, close, or delete your Renmoney account, here is a comprehensive and informative guide on how to do so:

Step 1: Contact Renmoney customer support

The first step is to contact Renmoney customer support. You can do this by phone, email, or live chat. When you contact customer support, let them know that you want to close your account. They will be able to provide you with the necessary information and guide you through the process.

Step 2: Settle outstanding Debt

Before you can close your Renmoney account, you need to make sure that you have settled all of your outstanding obligations. This includes any outstanding loan payments, fees, or other charges. If you have any outstanding obligations, you will not be able to close your account.

Step 3: Submit an account closure request

Once you have settled all of your outstanding obligations, you can submit an account closure request. You can do this online or by contacting customer support. When you submit your account closure request, you may be required to provide additional information, such as your account number and the reason for closing your account.

Step 4: Verify closure confirmation

After you have submitted your account closure request, it is important to follow up and verify that your account has been successfully closed. You can do this by contacting customer support or by checking your online account status.

What Happens After You Deactivate, Close or Delete Your Renmoney Account?  

Once you deactivate, close, or delete your Renmoney account, the following will happen:

• Your account will be no longer accessible. You will no longer be able to log in to your account or use any of Renmoney's services.
• All of your personal information will be deleted from Renmoney's system. This includes your name, address, phone number, email address, and any other information you provided when you opened your account.
• If you have any outstanding loans with Renmoney, you will need to repay them before you can close your account. If you do not repay your loans, Renmoney may take legal action against you.
• After closing your Renmoney account, you will no longer be able to contact customer support for assistance or inquiries. It is important to resolve any outstanding issues or concerns before closing your account.
• Depending on Renmoney's policies, there may be a waiting period or reconsideration period before you can reapply for an account with them. It is important to keep this in mind if you think you may want to use their services again in the future.

FAQS

What if I have an outstanding loan with Renmoney?

If you have an outstanding loan with Renmoney, you will need to repay it before you can close your account. If you do not repay your loan, Renmoney may take legal action against you.

How can I close my Renmoney account?

To close your Renmoney account, you can contact customer support by phone, email, or live chat. You will need to provide your account details and the reason for closing your account.

Do I need to pay any fees to close my Renmoney account?

No, there are no fees associated with closing your Renmoney account.

Can I deactivate my Renmoney account online?

Not yet, Renmoney doesn't offer an online account deactivation process. To deactivate your account, you'll need to contact their customer support team directly. You can reach them via phone call or email.

How long does it take to close my Renmoney account?

Once you have submitted your account closure request, it may take a few days for your account to be fully closed.

Can I reopen my Renmoney account after deactivation?

Yes, you can reapply for loans and reactivate your account in the future. Just contact customer support for more information on the process.

How can you contact Renmoney customer care by email:

To email Renmoney customer care, send your inquiry or request to their official customer support email address. You can find this address on Renmoney's website or in their communication materials. Be sure to use the official and verified email address to ensure your message reaches the right department.

What is the USSD code for Renmoney?

The USSD code for Renmoney is *712#.

Conclusion

Closing, deleting, or deactivating your Renmoney account is a straightforward process. By following the steps outlined in this guide, you can close your account quickly and easily.

If you have any questions or concerns, contact Renmoney customer support for assistance. They can help you to close your account and answer any questions you may have.