FairMoney has become a popular digital lending platform in Nigeria, providing instant loans, bill payments, and financial services to users via its mobile app. While many users benefit from its services, there might come a time when you decide to close your account for various reasons. Whether you no longer need the platform or have concerns about privacy, this detailed guide will walk you through how to delete your FairMoney account, what you need to do before proceeding, and any important considerations to keep in mind.
Why Would You Want to Delete Your FairMoney Account?
There are many reasons why a FairMoney user may want to delete their account, such as:
- Privacy Concerns: You may have concerns about your personal data being stored or shared on the platform.
- No Longer Need the Service: You might have paid off any outstanding loans and no longer need to use FairMoney.
- Switching to Other Platforms: You might find other digital lending platforms that suit your needs better and want to stop using FairMoney.
- Too Many Notifications or Marketing Emails: You could be receiving too many promotional emails or notifications that you find intrusive.
- Account Security Issues: Concerns about the security of your account or unauthorized access may push you to close the account.
No matter the reason, it is important to know the steps and considerations involved in deleting your FairMoney account properly.
Important Considerations Before Deleting Your FairMoney Account
Before you start the account deletion process, here are a few things to consider:
1. Repay All Outstanding Loans
FairMoney allows users to take out loans, but all outstanding debts must be fully repaid before you can close your account. If you attempt to delete your account without clearing your loan, it may result in penalties, negatively impact your credit score, or lead to further legal complications. Here’s how to check and repay any outstanding loans:
- Open the FairMoney app and navigate to the “Loan” section to view any active loans or balances.
- Ensure that all loans are paid off and your account balance reflects zero debt before initiating the deletion request.
2. Save Transaction History
Before closing your account, consider saving your transaction history. This could include past loans, repayments, and payment history for bills or other services. You might need these records in the future for financial reference, tax purposes, or dispute resolution.
Unfortunately, FairMoney doesn’t provide an option to download transaction history directly through the app, so your best option may be to take screenshots or manually document important transactions.
3. Check for Alternatives to Account Deletion
If you’re deleting your account due to issues such as too many notifications or emails, you might not need to close your account entirely. Consider alternative solutions, such as:
- Turning off notifications: You can turn off notifications for the FairMoney app by going to your phone’s settings and toggling off app notifications.
- Unsubscribing from emails: Scroll to the bottom of a promotional email from FairMoney and click “unsubscribe” to stop receiving marketing emails.
If privacy concerns are your reason, you can contact FairMoney customer support to inquire about changes to data-sharing practices or adjustments to your privacy settings.
How to Delete FairMoney Account
Now that you’ve addressed any outstanding concerns or alternatives, it’s time to proceed with the actual deletion of your FairMoney account. Since FairMoney doesn’t offer a “Delete Account” button directly within the app, you must contact customer support to complete this process.
Here’s a step-by-step guide to help you through it:
Step 1: Repay Any Outstanding Loans
Before contacting customer support, you must clear any outstanding loans. As mentioned earlier, go to the loan section of the app, check your balance, and make any necessary payments. Only after settling all debts should you move forward with the account deletion request.
Step 2: Contact FairMoney Customer Support
Since FairMoney doesn’t offer a self-service option to delete your account in the app, you’ll need to reach out to customer support. Here’s how you can contact them:
- Via Email: Compose an email to support@fairmoney.ng with a subject like “Request to Delete Account” or “Account Closure Request.” Be sure to include the following details in your email:
- Your full name as registered on the account.
- Your phone number associated with the FairMoney account.
- Your registered email address.
- An explanation of why you want to delete the account (optional but recommended for faster processing).
- Ensure that you explicitly state that you want your FairMoney account to be permanently deleted.
- Via In-App Support: You can also reach out through the in-app chat feature.
- Open the FairMoney app and go to the “Help” or “Support” section.
- Start a chat with a customer service representative and explain that you wish to delete your account.
- Provide your account information when requested.
Step 3: Provide Necessary Information
When contacting customer support, you’ll need to provide specific details related to your account for verification purposes. Be prepared to share your account’s registered phone number, email address, and possibly your loan ID or other identification. This information will help FairMoney’s support team quickly locate your account and process the deletion request.
Step 4: Request Account Deletion
After contacting support and providing the necessary details, explicitly request the deletion of your account. You can mention your reason if you feel comfortable, but it’s not strictly necessary. You should also request written confirmation (via email) that your account deletion request has been received and processed.
Step 5: Follow Customer Support Instructions
Once FairMoney’s support team has confirmed your request, follow any additional instructions they provide. This may involve additional verification steps or waiting for a specific timeframe before the deletion is finalized. Be sure to carefully read any messages or emails they send and respond promptly if required.
What Happens After You Request Deletion?
After successfully contacting FairMoney support and completing the steps required to delete your account, here’s what happens next:
- Account Deactivation: Your account will be deactivated, meaning you will no longer be able to access it via the FairMoney app or make transactions.
- Retention of Data: FairMoney may retain certain information about your account for compliance, legal, or regulatory reasons. This is standard practice in the financial industry to meet obligations for audit trails, tax records, or legal proceedings.
- No Reactivation Option: Once your account is deleted, you will not be able to log in or use FairMoney services without creating a new account. If you decide to return in the future, you will have to sign up again and go through the verification process from scratch.
Alternative Actions to Account Deletion
If your reason for wanting to delete the account is based on notifications, emails, or similar non-essential issues, you may not need to delete the account. Here are some alternatives:
- Turn Off App Notifications:
Go to your phone settings, navigate to notifications, and disable notifications for the FairMoney app. This will prevent pop-up notifications and alerts from the app, but you will still be able to use your account. - Unsubscribe from Marketing Emails:
Scroll to the bottom of any promotional email you’ve received from FairMoney and click the “Unsubscribe” link. This will remove your email from their marketing list and reduce the volume of non-essential communication.
Final Thoughts
While deleting your FairMoney account is not as simple as pressing a button, the process can be done effectively by contacting customer support and ensuring that all outstanding loans are cleared. Make sure to follow the proper steps, such as repaying debts and saving transaction history before proceeding.
If you’re deleting your account for privacy reasons or switching to another service, these actions will protect your financial data and prevent further use of your account. On the other hand, if you’re experiencing issues like too many notifications or emails, there are alternative solutions such as turning off notifications or unsubscribing from emails that can address your concerns without needing to delete the account.
By following the steps outlined in this guide, you can securely delete your FairMoney account, should you decide to do so, and ensure that your personal information is handled appropriately.
