Before closing a crypto exchange account, settle the balances and obligations, save your records and confirm that you no longer depend on the account for incoming payments or linked services. Deleting an app does not close the account, and account closure should not be treated as a promise that every record will be erased.
Luno's official closure instructions require zero local-currency and crypto-wallet balances, followed by a closure request form. The support team then contacts the customer. Other providers may have different procedures, so use their current official instructions rather than assuming the same button exists everywhere.
Start with the reason for leaving
If you suspect unauthorised access, contain that incident first through the exchange and your bank where relevant. A normal closure request is not an emergency freeze. If you cannot sign in, use account recovery instead of creating another identity or giving a stranger access.
If the account belongs to someone who has died, use the provider's deceased-estate process. Do not log in as the deceased or move assets as though they were yours. That situation needs appropriate authority and separate legal advice.
For an ordinary voluntary closure, decide whether you will sell, transfer or retain each asset elsewhere. Each option has costs and possible tax consequences; closing the account itself does not settle those questions.
Work through the exit checklist
| Check | Evidence to keep |
|---|---|
| Open orders reviewed and unwanted remainders cancelled | Order history and cancellation confirmations |
| Borrowing, margin or other obligations resolved | Final account statement and provider confirmation |
| Recurring purchases stopped | Schedule status and any pending-order outcome |
| Bank standing payments reviewed | Bank cancellation confirmation if applicable |
| Incoming wallet payments redirected | Updated payer instructions, verified independently |
| Balances withdrawn or otherwise resolved | Withdrawal records and destination receipt |
| Records exported | Readable files with a date and backup |
| Closure requested | Ticket number and final written confirmation |
The checklist is original administrative guidance. It does not claim every exchange offers every product listed. Skip non-applicable items only after confirming that they do not exist on your account.
Reconcile to zero without losing the trail
Suppose a hypothetical account starts with R500 and 0.001 BTC. You sell the BTC for R1,800 and pay a R10 sale fee. The rand balance becomes R2,290. If a bank withdrawal deducts a R20 fee from that balance, the bank receives R2,270 and the account should show zero rand, assuming there are no other entries.
The reconciliation is R500 + R1,800 − R10 − R2,270 − R20 =0. These are illustrative charges, not a provider tariff. Keep the crypto sale and bank withdrawal as separate records. If a tiny residual balance remains below a withdrawal minimum, ask support for its supported treatment rather than ignoring it or sending more money blindly.
Confirm destination receipt before closing access. A withdrawal marked submitted is not the same as completed. If funds are still pending, retain account access and resolve the transaction first.
Export records you can actually open
Save trades, deposits, withdrawals, fees, rewards and account statements relevant to your activity. Keep transaction IDs and the timestamps used by the export. Open the files to ensure they contain data rather than an expired download link or an empty date range.
Store the files securely with a backup. Avoid putting identity documents, bank account numbers or wallet histories into a publicly shared folder. Retaining your own financial records is a different task from retaining credentials; do not save passwords inside the transaction archive.
The existing SARS records guide addresses tax reconciliation. This article's purpose is the operational exit, so it does not replace that guide or prescribe a universal retention period.
Closure and personal-data requests are different
Ask the provider what closure changes, what records it must retain and how to contact its privacy team. Section 14 of POPIA limits record retention but includes exceptions, including retention required or authorised by law. Do not assume a deletion request overrides every legal recordkeeping obligation.
A useful written request is: “Please confirm closure of my account, the effective date, any remaining balance or obligation, and the process for a personal-information request. Please explain any records retained and the applicable basis and period.” Use the official support or privacy channel and provide only the identification it legitimately requires.
Keep the final response. Remove obsolete API keys, saved payment instructions and app access as appropriate after confirming the exit. The exchange hub can help if you need another provider, but opening a replacement account is not a prerequisite for closing this one safely.
Sources and verification
Primary sources checked on 20 September 2026. Prices, availability and processing arrangements can change.