At WazirX, we prioritize user empowerment and security. As part of our commitment to enhancing user control and transparency, we've introduced the ‘Close My Account’ feature.
We understand that circumstances can change, and you may need to close your account. To respect your autonomy and value your decision, we've streamlined the Account Closure feature within the WazirX app, putting control firmly in your hands.
Conditions for Account Closure
Before initiating the closure request, please ensure you:
- Withdraw all funds (INR & Crypto) from your WazirX wallet.
- Ensure there are no open orders in the Spot and P2P markets.
- Confirm that there are no pending INR/Crypto withdrawals.
- Check for any unclaimed gifts sent or received. Please claim or cancel the gifts you’ve sent or received before closing the account. If you have any unclaimed received gifts, you can accept or decline them. If you have sent a gift that remains unclaimed, you can remind the receiver to claim it or contact the WazirX support team to cancel it.
- Download your Trade Report, TDS Certificate, and GST Invoices for your records.
Accessing the Close My Account Feature
Closing your WazirX account is simple. You can follow these simple steps:
- Navigate to 'Account Settings' in your WazirX app.
- Locate the 'Close My Account' option under the 'Account Security' section.
- Initiate the closure process and provide feedback.
Once you submit your request, our team will promptly review it. You can expect to receive an email notification regarding the status of your account closure request within 48 hours.
Account Security Measures
To maintain the integrity of the account closure process, you must complete the OTP verification before submitting your request. This additional layer of security helps protect your account from unauthorized access.
Once the closure request is submitted, your account will be frozen. However, you can still log in to view the markets. You'll be notified via email once your request is submitted and accepted/rejected, with guidance every step of the way.
Effects of Account Closure
Once your closure request is approved, your account will be frozen, and you'll lose access to various platform features, including:
- Login: Access to your account will be restricted.
- Creating a new account: You must wait for a mandatory 90 days to create a new account with the same KYC details and email ID.
- Trading: You won't be able to trade in Spot & P2P markets or participate in any trading activities.
- Depositing & Withdrawing Funds: You won't be able to deposit or withdraw funds. Not depositing any funds to the WazirX wallet after the account is closed is crucial, as doing so may result in permanent loss of funds. If you mistakenly deposit funds to a closed account, please contact the WazirX support team for assistance in recovering them. Recovery can only be done for amounts greater than or equal to $100; a recovery fee of 5% or the network fee (whichever is greater) will be levied.
- Account Management: You won’t be able to change any details related to your account.
- Referral Rewards: You will stop receiving referral rewards once your account closure request is raised. In line with our monthly reward distribution policy, no rewards will be disbursed for the month in which the account closure request is submitted. Additionally, your referral code will be disabled, preventing anyone from using it.
- Gift Cards: Once your account closure request is sent, you and recipients cannot claim gift cards.
- Coupons: You won’t be able to claim any coupons.
- API Trading (WAPI): Your API keys will be disabled.
- Airdrops: You won’t be eligible to receive any airdrops in the future.
- Subaccounts: If you have subaccounts, they will all be deactivated when the parent account is closed.
- Marketing Communications: You won’t receive any marketing communications from WazirX unless you have explicitly subscribed to them.
- Trade Report, TDS Certificate, GST Invoices: You won’t be able to download these documents.
Important Pointers
- Upon approval of your closure request, you'll be automatically logged out of all active sessions, and all API keys will be disabled.
- Your account information and transaction data will be retained in compliance with applicable laws and any amendments thereof.
- We recommend downloading your Trade Report, TDS certificate, and GST Invoices before closing the account, as they will not be accessible afterward. To do this, simply navigate to the 'Reports' section in your account settings and follow the instructions.
- If you wish to create a new account with the same KYC details and email ID, you can do so after a mandatory 90-day waiting period from the closure date of your previous account.
We understand that closing an account is a significant decision. That's why we're here to provide you with the support you need. Whether it's assisting you during the closure process or offering guidance on alternative solutions, our dedicated support team is always here to help.
While we hope you never have to utilize this ‘Close My Account’ feature, we believe it's important to provide options and flexibility. We're committed to delivering an exceptional experience for all WazirX users by continually refining our platform and listening to user feedback.
Happy trading!