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Account Cancellation Policy

INTRODUCTION

CreditBar (Pty) Ltd («CreditBar», «we», «us», or «our») is a company duly incorporated and registered under the laws of the Republic of South Africa under registration number 2026/213837/07 and is a registered credit provider with the National Credit Regulator under registration number CP23238.

PURPOSE

This Policy explains the process for cancelling a consumer’s Platform Account and distinguishes between the cancellation of a Platform Account and the termination or settlement of a Credit Agreement.

This Policy applies to all registered users («you» or «Consumer») of the CreditBar Platform available at https://creditbar.co.za.

CONTACTING CREDITBAR

If you have any questions regarding this Policy, your Personal Information, or wish to request access to, correction, deletion (where legally permissible), or cancellation of your Platform Account, you may contact CreditBar’s Information Officer using the contact details below:

Email: support@creditbar.co.za

Telephone: [Insert Number]

Information Officer: Anastasiia Vasylieva

PLATFORM ACCOUNT CANCELLATION VS CREDIT AGREEMENT TERMINATION

There are two distinct concepts addressed in this Policy:

  • Platform Account Cancellation

The closure of your digital profile and your access to the CreditBar Platform.

  • Credit Agreement Termination

The settlement and legal discharge of any loan agreement entered into with CreditBar in accordance with the National Credit Act, your Credit Agreement and any applicable legislation.

Platform Account cancellation does not automatically terminate, cancel or discharge any Credit Agreement or any outstanding financial obligations owed to CreditBar.

ELIGIBILITY FOR ACCOUNT CANCELLATION

A consumer may request cancellation of a Platform Account provided that:

  • there are no active Credit Agreements;
  • all outstanding amounts owing to CreditBar have been paid in full;
  • there are no pending investigations relating to fraud, identity verification or unlawful activity; and
  • CreditBar is not legally required to retain the account for regulatory, legal or audit purposes.

A Platform Account cannot be cancelled while a Credit Agreement remains active. Any outstanding obligations must first be settled in accordance with the applicable Credit Agreement and the National Credit Act.

CANCELLATION REQUEST PROCESS

A consumer may request cancellation by:

  • submitting a request through the Platform;
  • sending a request from their registered email address to contact@creditbar.co.za;
  • contacting Customer Support.

Upon receiving the request:

  • CreditBar will verify the consumer’s identity to protect against unauthorised account closure;
  • CreditBar will review the account to determine whether there are any active Credit Agreements, unpaid balances or regulatory reasons preventing cancellation;
  • Where all requirements have been met, CreditBar will process the cancellation within a reasonable period and confirm the cancellation in writing.

EFFECT OF ACCOUNT CANCELLATION

Upon cancellation:

  • You will be logged out of the Platform.
  • Your Platform login credentials will be permanently disabled.
  • You will no longer have online access to your CreditBar profile.
  • Cancellation of your Platform Account does not affect any legal obligations or liabilities that arose before cancellation.
  • CreditBar will retain records and Personal Information where required by the National Credit Act, POPIA, PAIA, the Financial Intelligence Centre Act (where applicable), tax legislation or any other applicable law.
  • Your Personal Information will continue to be processed in accordance with CreditBar’s Privacy Policy. 

RETENTION OF PERSONAL INFORMATION

Although your Platform Account may be cancelled, CreditBar is legally required to retain certain records for prescribed periods under applicable legislation. Consequently, cancellation of your Platform Account does not necessarily result in the immediate deletion of your Personal Information.

Personal Information will be retained, archived or securely destroyed in accordance with CreditBar’s Privacy Policy and Record Retention Policy.

COMPLAINTS

If you are dissatisfied with the handling of your cancellation request, you may lodge a complaint in accordance with CreditBar’s Complaints Handling Policy using the contact details published on the Platform.

AMENDMENTS

CreditBar may amend this Policy from time to time to reflect changes in legislation, regulatory requirements or business operations. The latest version will be published on the Platform and will become effective on the date of publication unless otherwise stated.