Intro
Closing your PayFet account is permanent. Your wallet, cards, and transaction history will no longer be accessible, and you’ll need to open a new account and complete verification again if you come back. Please read the checklist below before continuing.

Before you can close your account
You’ll need to clear these first — we’ll check automatically:

• Withdraw your balance. Your current balance is [₦0.00]. Transfer it to a linked bank account before closing. [Withdraw funds]
• Settle outstanding loans or negative balances. Amount owed: [₦0.00].
• Wait for pending transactions to clear. You have [0] pending transfers. This usually takes [24 hours].
• Cancel scheduled payments and standing orders. You have [0] active. [Manage payments]
• Turn off automatic funding from any linked cards or accounts.
• Cancel active subscriptions billed to your PayFet card. We can’t cancel these for you — contact each merchant directly.

Any funds left in a closed account will be held for you and can be claimed by contacting support with valid ID.

What happens when you close

• Your PayFet virtual and physical cards are cancelled immediately and will decline all transactions
• Your account number stops receiving inbound transfers — tell anyone who pays you before you close
• You lose in-app access to statements and transaction history, so download them first. [Download statements]
• Your PayFet tag/username is released and may be taken by another user

What we’re required to keep
As a licensed financial institution, we can’t delete everything. Regulations require us to retain your identity verification records, transaction history, and communications for at least 2 years after closure — this is required by the [Central Bank of Nigeria / relevant regulator] and anti-money-laundering law, and applies even if you ask us to delete your data.

This information is stored securely, used only for legal and regulatory purposes, and never used for marketing. After the retention period ends, it’s permanently deleted.
Read more in our [Privacy Policy] and [Data Retention Policy].

Timing
Once you confirm, your account is closed and access is revoked immediately. We’ll email you a final statement and a closure confirmation within [24 hours].
This cannot be reversed — unlike a temporary freeze, there’s no grace period to change your mind.

Alternatives

• Freeze your account — block all transactions and card use, and unfreeze whenever you’re ready. Your details stay intact. [Freeze account]
• Lock or replace your card if you’re worried about security. [Card settings]
• Turn off notifications and marketing emails instead. [Notification settings]
• Talk to us — if something went wrong, we’d rather fix it. [Contact support]

Confirmation step
Why are you closing your account? (optional)

• Fees or charges
• I’m using another bank
• App issues or poor experience
• Failed or delayed transactions
• Security or privacy concerns
• I don’t need the account anymore
• Other: [free text]

Verify it’s you: enter your transaction PIN and the OTP sent to [•••• 4821]
Type CLOSE MY ACCOUNT to confirm

Buttons: Close account permanently / Keep my account

Blocked / error states

• “You still have ₦[amount] in your wallet. Withdraw it before closing your account.”
• “You have an outstanding loan balance of ₦[amount]. Repay it to continue.”
• “You have [n] transactions still processing. Try again once they’ve cleared.”
• “Your account is currently under review and can’t be closed. Please contact support.”
• “That PIN is incorrect. [n] attempts remaining.”
• “Your OTP has expired. [Send a new code]”
• “We couldn’t close your account. No changes were made — please try again or contact support.”

Success screen
Your PayFet account is closed.
Your cards have been cancelled and your account can no longer send or receive money. We’ve emailed your final statement and closure confirmation to [email].

If you need your records later, contact support@payfet.com with the email address you used here.

Thank you for banking with PayFet.