Cancellation Nexo: Easy Method

What is Nexo

Service overview

Nexo is a digital banking platform that offers cryptocurrency-backed loans, interest-earning accounts for crypto assets, a Nexo Card, and exchange services.

Users can borrow against crypto without selling assets and earn interest on supported holdings via the app or web platform.

Scope in South Africa

Nexo operates globally and is accessible to South African customers for wallet, lending and card services where permitted.

Local access and consumer protections will depend on South African regulation and the platform's terms of service.

How to cancel Nexo

Preconditions you must meet

• Ensure all Savings and Credit Wallet balances are zero.
• Close or fully repay any loans and remove positions in Pro portfolio.
• Have no pending withdrawals, overdrafts or unsettled transactions.
• Enable Two‑Factor Authentication (2FA) on your account before closing.

Step-by-step cancellation (App or Web)

• Open the Nexo App or sign in at the web platform.
• Go to My Profile → Security & Settings → Close account.
• Follow the on-screen prompts and confirm you meet the preconditions.
• Wait for confirmation that the account closure request was processed.

For details on the exact closure flow, see the Nexo help page linked below.

How do I close my Nexo account?

What happens when you cancel

Access and functionality

After closure you will lose access to the account dashboards, wallets and card services tied to that account.

Any remaining services will be suspended once the platform verifies zero balances and loan closure.

Data and records

Nexo will retain transaction records and account data as required by law and its policies.

You may not be able to reverse closure once processed; export any needed statements before closing.

Will I get a refund?

General refund policy

There is no automatic 14‑day statutory refund for digital asset services provided by Nexo.

Refunds for platform services depend on the nature of the transaction and Nexo's terms.

Nexo Card purchase refunds and exceptions

• Refunds for purchases made with the Nexo Card are issued by the merchant, not by Nexo directly.
• Once a merchant processes a refund, it typically appears in your Nexo Savings Wallet within one day.
• Crypto cashback received on the original purchase may be reversed by a separate Cashback Reversal transaction.

For Nexo Card refund procedures, see the Nexo help page linked below.

How can I request a refund for a purchase made with my Nexo Card?

Nexo plans and pricing

What these prices represent

The table below shows spot market values for one NEXO token converted to South African Rand from verified exchange sources.

These are market conversion rates, not Nexo subscription fees.

Pricing notes

Token prices fluctuate continuously across exchanges and may differ slightly by source and time.

Nexo is not a subscription service; these values are provided for reference only.

Your consumer rights in South Africa

Cooling-off and refunds

South African consumers generally have cooling-off rights for certain online purchases under the Consumer Protection Act.

However, digital financial services and crypto platforms may be treated differently and may not be covered by a 14‑day automatic refund.

Contract fairness and recourse

If contract terms are unfair or non-compliant with South African law, you may have additional remedies through consumer protection authorities or courts.

Keep records of communications and transactions if you intend to escalate a dispute with regulators or consumer bodies.

Customer experiences

Positive reports

Users have praised Nexo for successful recovery of funds from mistaken transactions and useful fraud detection.

Long-term users often report reliable fund access and an easy-to-use app with varied trading options.

Negative reports

Complaints include delays with chargebacks, frozen assets or liquidations that some users found costly.

Technical issues have been reported in rare cases, such as refund mismatches tied to cashback reversals.

Documentation checklist

Identity and verification

• Valid government ID (passport or ID card).
• Proof of address (utility bill or bank statement) if requested.

Account and transaction records

• Exported account statements and transaction history.
• Records of pending withdrawals, loan settlements, and merchant refund confirmations.

Common mistakes

Not clearing balances first

Attempting to close your account without zeroing wallets or repaying loans will prevent closure.

Always verify all credits, loans and pending withdrawals are settled before requesting closure.

Assuming a merchant refund is immediate

Users sometimes assume refunds will appear instantly; merchant processing times vary and cashback reversals can affect net refunded amounts.

Retain merchant refund confirmations and monitor your Savings Wallet for the reflected credit.

Comparative recap

Feature comparison overview

The table below summarizes key cancellation and refund attributes for Nexo compared with typical crypto platforms.

This is a high-level snapshot to help you evaluate options before cancelling.

After cancelling

What to monitor

Check that all wallets show zero balances and that no further fees or transactions occur after closure.

Save any final confirmations from Nexo and export important records for your files.

Helpful links and support

Account closure instructions: How do I close my Nexo account?

Service suspension and termination policy: Nexo termination policy

Nexo Card refund guide: How can I request a refund for a Nexo Card purchase?

Address

Local contact address

Unit G07 InoSpace Malibongwe Exchange, 123 Malibongwe Drive (Entrance 18 Tungsten Road North Cul de Sac), Strydompark, Johannesburg, Gauteng, South Africa, 2195

Notes on the address

This address is listed for South Africa operations and is relevant for POPI or local correspondence where required.

For official correspondence or complaints, include copies of all relevant account records and communications.