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How to close your Spendesk wallet or subsidiary account

Need to close a specific wallet, subsidiary, or your entire Spendesk account? Here is everything you need to know and the steps to follow for a smooth account closure.

Updated today

Table of contents

  • Prerequesites

  • Before closing your account

  • Steps to close an account

  • What if my account is already empty?

  • Troubleshooting

  • FAQ

Prerequesites

  • Role required: Account Owner

  • Plan: Available on all Spendesk plans

Before closing your account

To ensure the closure process goes as quickly and smoothly as possible, please complete the following steps before initiating your request:

  • Cancel subscription cards and update payment methods: Ensure that all active subscription cards are cancelled in Spendesk. You must transfer these recurring payments to other payment methods outside of Spendesk. Any pending transactions or unexpected subscription charges will block and delay the final closure of your account.

  • Warn users to avoid new cards: Ask your team to stop creating new virtual cards or initiating new payments.

  • Download all your files: Once your account is fully closed, you will lose access to your Spendesk environment. Make sure to export all your necessary data (receipts, invoices, account statements, and payment exports) from the platform beforehand.

  • Leave enough funds for your 2-month notice period: A standard notice period of two (2) months applies to any cancellation or subscription change. Please ensure you leave enough funds on your wallet to cover the subscription fees for these final two months. (Note: Exceptions may apply if your contract specifies different terms, such as an annual commitment).

Steps to Close an Account

Note: We do not offer a "self-offboarding" button to close an account directly from the platform. This is to ensure all funds are correctly refunded and no pending transactions remain.

  1. Submit your request: Reach out to your direct Account Manager or contact us via the in-app chat (or at support@spendesk.com). Let us know the exact account or entity you'd like to close. For legal reasons, only the Account Owner is authorized to make this request.

  2. Card Deactivation: Once the request is received, we will deactivate all cards linked to the account and verify that there are no pending transactions. This action is irreversible: it is not possible to reinstate cancelled cards.

  3. Outbound Wire Transfer (Fund Redemption): If your account has a positive remaining balance (after accounting for the 2-month notice period), you will need to initiate a fund withdrawal.

  • Alternatively, you can email Support with your company name, the exact amount to transfer, and the destination bank account details (IBAN).

  1. Final Closure: As soon as your account is fully emptied and the notice period is over, we will proceed with closing it permanently.

What if my account is already empty?

If your wallet balance is exactly zero and there are no pending transactions or outstanding subscription fees:

  • You do not need to submit a redemption form.

  • The Account Owner simply contacts Support or their Account Manager to request closure.

  • Spendesk will proceed directly with deactivating the account.

Troubleshooting

Situation: The closure is blocked or delayed.

Cause: Pending transactions have not yet been settled by the merchant, or unexpected subscription charges have been applied after the request was submitted.

Resolution: Wait for all transactions to fully settle. Ensure all active subscription cards were cancelled before submitting the closure request.

Situation: I want to close the account before the end of the two-month notice period.

Cause: The two-month notice period is a standard contractual requirement. Exceptions may apply depending on your contract terms.

Resolution: Review your contract terms. Contact your Account Manager to discuss whether an exception applies to your situation.

What If My Account Is Empty?

If your wallet balance is exactly zero and there are no pending transactions or outstanding subscription fees:

  • You do not need to submit a redemption form.

  • The Account Owner simply contacts Support or their Account Manager to request closure.

  • Spendesk will proceed directly with deactivating the account.

FAQ

Q: Can I close my account without contacting Spendesk?

A: No, the Account Owner must contact their Account Manager or Support to ensure all necessary financial and legal checks are completed before the account is closed.

Q: How long does it take to close my account?

A: Once we receive the completed redemption form or wire transfer request, refunds are validated and processed a few days after the completion of the mandatory two-month notice period. Please allow additional time for these final steps.

Q: What happens if there are pending transactions?
A: If there are any pending transactions, we will need to wait until they are fully processed before we can close your account.

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