How to Close, Delete or Deactivate your Renmoney Account Easily

Renmoney is a leading fintech company in Nigeria that offers personal and business loans, savings, investment products and other banking services. It is a registered microfinance bank licensed by the Central Bank of Nigeria (CBN). 

In this blog post, we'll guide you through a step-by-step process of how to close, delete or deactivate your Renmoney account easily. We'll provide you with all the information you need so that you can make the best decision for your personal financial circumstances. Read on to find out more!

Things to Consider Before Closing, Deleting, or Deactivating Your Account  

It's crucial to take several factors into consideration before proceeding. Here's a comprehensive guide on what to think about:

  • Review Your Reasons: Before taking any action, carefully consider why you want to close, delete, or deactivate your Renmoney account. Is it due to security concerns, financial reasons, or just a desire to simplify your online presence? Understanding your motivations will help you make an informed decision.
  • Outstanding Loans or Balances: If you have any outstanding loans or balances with Renmoney, you must settle them before closing the account. Failing to do so can have adverse consequences on your credit score and financial standing.

Lastly, double-check your decision and make sure it aligns with your financial goals and future plans. Closing your Renmoney account may have long-term implications, so it's essential to weigh the pros and cons before proceeding. By carefully considering these factors, you can make an informed decision and navigate the account closure process smoothly.


How to Close, Delete or Deactivate your Renmoney Account Easily 

If you've decided to close, delete, or deactivate your Renmoney account, follow these simple steps to make the process easy and hassle-free:

  1. Contact Renmoney Customer Support: Start by reaching out to Renmoney's customer support team. They will guide you through the account closure process and provide any necessary information or documentation you may need.
  2. Settle Any Outstanding Balances: Before closing your account, make sure to settle any outstanding loan balances or pending payments. This will ensure that you avoid any negative impact on your credit score or financial standing.
  3. Cancel Automatic Payments and Update Transactions: If you have any ongoing transactions or automatic payments linked to your Renmoney account, remember to cancel or update them. This will prevent any inconvenience or unexpected charges after your account is closed.
  4. Redeem or Transfer Rewards: Consider any loyalty or rewards programs associated with your Renmoney account. Determine whether it is beneficial to redeem or transfer these rewards before closing your account.
  5. Double-Check your Decision: Evaluate the impact of closing or deactivating your account on your financial goals and future plans. Make sure that closing the account is the best option for your personal financial circumstances. 

By following these steps, you can close, delete, or deactivate your Renmoney account with ease and peace of mind.

Troubleshooting Tips  

  • Check Renmoney's website or contact customer support: If you encounter any issues during the account closure process, refer to Renmoney's website for any available troubleshooting resources. You can also reach out to their customer support team for assistance and clarification on any problems you may be facing.
  • Ensure all required documentation is in order: Before proceeding with the closure, deletion, or deactivation of your Renmoney account, make sure you have all the necessary documentation and information readily available. This includes any account details, identification documents, or forms that may be required to complete the process smoothly.

By following these troubleshooting tips, you can address any potential issues that may arise during the closure, deletion, or deactivation process of your Renmoney account, ensuring a smooth and hassle-free experience.

Read Also: Best Loan App for Android and iPhone Users in Nigeria 2023


What happens if I don't pay my Renmoney loan?

If you fail to make timely payments on your Renmoney loan, several consequences may follow:

  • Late Fees: Renmoney typically charges late fees for missed payments. These fees can accumulate and add to the overall cost of your loan.
  • Negative Impact on Credit Score: Non-payment or consistent late payments can have a negative impact on your credit score. A lower credit score can make it harder to secure loans or credit in the future.
  • Collection Efforts: Renmoney may initiate collection efforts to recover the To avoid these consequences, it's essential to communicate with Renmoney if you're facing financial difficulties. They may offer options like loan restructuring or temporary payment plans to help you manage your obligations.

What is the USSD code for Renmoney?

The USSD code for Renmoney is 723#. You can use this code to check your loan balance, make a payment, or get customer support.

How do I contact Renmoney?

To contact Renmoney, you can use the following methods:

  • Customer Support Hotline: Renmoney typically provides a customer support hotline that you can call for assistance. The phone number should be available on their official website or on your loan agreement documents.
  • Email: You can also contact Renmoney via email. Look for their official email address on their website or in your loan-related correspondence.

How do I activate my Renmoney account?

The specific process for activating your Renmoney account may vary depending on their policies and procedures. Generally, it involves the following steps:

  • Visit the Renmoney website or mobile app.
  • Follow any on-screen prompts or instructions to complete the activation process

How can I close my Renmoney account?

  • Contact Customer Support: Reach out to Renmoney's customer support through their official channels, which may include a customer service hotline, email, or website. Inform them of your intention to close your account.
  • Follow Their Instructions: Renmoney will provide you with specific instructions on how to proceed with the account closure process. This may involve filling out a form or providing certain details for verification.


In closing, it's important to carefully consider your personal financial circumstances before making the decision to close, delete, or deactivate your Renmoney account. Remember to review any outstanding loan balances or pending payments, cancel or update any ongoing transactions or automatic payments, and redeem or transfer any rewards or loyalty program benefits. 

We hope that this guide has provided you with the necessary information to easily navigate the process of closing, deleting, or deactivating your Renmoney account. Best of luck in your future financial endeavors!


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