How do I close an individual account?

To close an individual account, first please ensure the account balance is £0 by withdrawing all held value. You can reopen the account at any time through the app or by contacting support@wombatinvest.com. To close an account, follow the steps below.

  1. Sell (Investment accounts only)

Go to the portfolio tab in the app, select an investment and tap ‘Sell’. Repeat for all held investments within the individual account. Please note, we are not liable for any losses or costs following the sale of your investments.

  1. Withdraw

Withdraw your full balance and wait for it to land in your nominated bank account.

Withdrawals from an Instant GIA are processed the same working day, and withdrawals on Standard accounts usually take 3-5 working days. Withdrawals from our GB Bank Base Rate Tracker are processed the same working day if placed before 11:30 am, and withdrawals for notice savings accounts depend on the notice period specified on the account.

  1. Finalise account closure

Once you have completed the steps above, email support@wombatinvest.com, confirm your full name, and let us know which account you would like to close. This will close your account, cancel your direct debit mandate, and disconnect any features like Round Ups or Auto Invest if you have a Standard investment account. 

Accounts within a cooling-off period

You can cancel your account within the cooling-off period if your account is eligible. 

Important information:

  • We’re legally obligated to retain your data for up to 6 years. See our Privacy Policy for more information
  • Any promotional reward that has not yet qualified for withdrawal will be lost

Still have questions?

Contact support@wombatinvest.com and our dedicated Customer Support team will be more than happy to help.