Cancel Spaceship: Step-by-Step Guide

How to cancel your Spaceship account and withdraw your money

What you need to know about Spaceship before you leave

Spaceship is an Australian fintech investment platform that offers managed portfolios to retail investors with low entry costs. The service includes Voyager, a micro-investing app for smaller trades, and Spaceship Super, a superannuation product designed to simplify long-term wealth building. If you're thinking about cancelling, you might be switching platforms, reassessing your investment strategy, or simply wanting to reduce your financial commitments. Whatever your reason, understanding how to close your account safely and claim your money is essential.

Why australians cancel their Spaceship accounts

People leave Spaceship for many legitimate reasons. Some find better returns on competing platforms, others want lower fees, and many prefer a different investing experience altogether. You might be consolidating superannuation funds, moving to a traditional broker, or stepping back from active investing entirely. Knowing your options helps you make a confident decision about whether cancellation is the right move for you right now.

How tocancel supports your cancellation process

At Tocancel, we've helped thousands of Australian consumers cancel investment accounts, subscriptions and financial products with confidence and without unexpected charges. We understand how frustrating confusing account closures can be, especially when your money is involved. This guide walks you through exactly how to cancel Spaceship, what fees you'll face on the way out, what money you're entitled to claim, and how Australian consumer law protects you if the company doesn't cooperate. By the end, you'll have a clear action plan and the knowledge to assert your rights.

Understand your fees and costs before you cancel

Before you submit a cancellation request, you need to know what you're currently paying and what costs might apply when you close your account.

Always download your current product disclosure statement (PDS) from your account settings or by emailing [email protected]. The PDS is the legally binding source of truth for your fees and terms, and it protects your right to accurate information under Australian consumer law.

Decide whether to cancel or stay

This section helps you think through whether cancellation is the right choice, or whether pausing and reviewing might serve you better.

Reasons you might want to stay

If you're committed to long-term wealth building and feel comfortable with Spaceship's themed portfolios, staying could make sense. The platform's low minimum investment (often under A$100 for Voyager) appeals to many Australians who are building their investing habits. Spaceship Super can also be complicated to move, so if you're satisfied with your current super arrangement, staying avoids administrative headaches.

Another important consideration is tax. When you sell your investments to close your account, you trigger capital gains tax on any profit you've made. If your portfolio has grown, you'll crystallise those gains and potentially face a tax bill in the same financial year. Before you cancel, work out whether the timing makes sense for your tax situation, or whether waiting until the next financial year would be smarter.

Reasons to cancel Spaceship

You should seriously consider cancelling if the monthly A$3 account fee no longer justifies the value you're getting, if you've found a platform with lower overall costs, or if your investment strategy no longer aligns with Spaceship's portfolio options. You might also be consolidating accounts to simplify your finances, which is a perfectly valid reason to move on. If Spaceship's customer service or user experience frustrates you, or if you've experienced repeated billing errors that the company hasn't resolved, those are clear signals that you're better off elsewhere.

Use Tocancel's checklist below to clarify your decision before you take action, so you avoid cancelling on impulse and then regretting it later.

How to cancel your Spaceship account step by step

Cancelling Spaceship is straightforward once you know the exact process to follow. The platform offers a clear in-app closure method that minimises the risk of delays or disputes.

Cancel Spaceship using the mobile app

The quickest way to cancel Spaceship is through the mobile app. Follow these steps in order:

1. Open the Spaceship app on your phone and log in with your username and password.
2. Navigate to the Menu tab or Account tab, depending on which version of the app you're using.
   • On Voyager, this usually appears as a hamburger icon (three horizontal lines) or a user profile icon in the top right or bottom right.
   • On Super, look for Settings or Account in the main menu.
3. Look for the option labelled "Close my portfolio," "Close account," or "Account closure." The exact wording varies by product.
   • If you see multiple options (such as Close Portfolio and Withdraw), select the one that closes your entire account.
4. Read the closure terms carefully. Spaceship will remind you that selling your investments triggers capital gains tax and that funds take up to five business days to arrive.
5. Confirm that you want to close your account. You may be asked to re-enter your password or provide a reason for leaving.
   • Spaceship sometimes offers retention incentives at this point. Read any offer carefully, but do not feel pressured to stay.
6. Once you confirm, Spaceship sells your investments and initiates the refund process. Check your email for a confirmation receipt.
7. Save or screenshot the confirmation email as proof of your cancellation date and amount due to be refunded.

Close your account by contacting support directly

If the app closure option doesn't work, or if you encounter an error, you can request account closure by email or through the contact form on the Spaceship website.

1. Visit help.spaceship.com.au or the Contact Us page within the Spaceship app.
2. Select the option to submit a support ticket or send an email to [email protected].
3. Use this subject line: "Request to close my Spaceship account [your account ID or email]".
4. In the body of your message, state clearly:
   • Your full name and the email address linked to your account.
   • Your account ID or portfolio ID (visible in the app).
   • The date you want the account closed.
   • The bank account where you want your refund sent (include BSB and account number).
   • A simple statement: "I request the closure of my Spaceship account and the withdrawal of all funds."
5. Send the email and save a copy in your records as proof of your cancellation request.
6. Spaceship typically responds within 2-3 business days to confirm receipt and outline the timeline.

Handle Spaceship super separately if you have it

Spaceship Super is a superannuation product, which means it's regulated by the Australian Prudential Regulation Authority (APRA) and subject to different rules. You cannot simply withdraw the balance and walk away; instead, you must roll it over to another super fund or consolidate it into an existing super account you already hold.

1. Log into your Spaceship Super account and navigate to the settings or account management area.
2. Look for the option "Rollover my super" or "Close my super account."
3. You'll be asked to provide the details of the receiving super fund (either a new fund or an existing account).
   • Check whether you have super elsewhere and whether consolidating into that fund makes sense.
   • If not, open a new retail super account with another provider (many banks and brokers offer this).
4. Complete the rollover form provided by Spaceship, which will include sections for the receiving fund's ABN and your own details.
5. Spaceship processes the rollover within 10-15 business days. You'll receive confirmation when the funds reach your new super account.
6. Do not close your Spaceship Super account until you have confirmation that the rollover has completed successfully.

Timeline and what to expect after you submit your cancellation

Understanding the timeline helps you know when your money will arrive and what to do if it doesn't show up on schedule.

What happens immediately after cancellation

Once you confirm closure through the app or email, Spaceship generates a closure instruction. The company sells all your investments (usually within 24 hours) and prepares your refund. You'll receive a confirmation email with the closure date, the sale date of your investments, and an estimated refund amount. This email is your proof of cancellation; save it in a safe place.

When your money arrives

Spaceship states that refunds typically arrive within five business days of your closure instruction. In practice, most refunds clear within 3-5 business days, though this depends on your bank's processing speed. Your money is sent to the bank account you provided during the cancellation process. If you didn't specify an account and Spaceship defaults to your original payment method, contact support immediately to confirm where your funds are going.

Five business days means five working days excluding weekends and public holidays. If you cancel on a Friday, you shouldn't expect the money before Wednesday or Thursday of the following week. If more than seven business days have passed and your money hasn't appeared, contact Tocancel for guidance on how to escalate the issue.

Check the refund amount carefully

When you receive your refund, the amount may differ slightly from what you saw in the app before closure. This happens because investment unit prices fluctuate daily. The money you receive reflects the value of your holdings on the day your investments were sold, not the day you requested closure. Always check this amount against the confirmation email; if it differs by more than a few dollars, or if you believe there's an error, contact Spaceship support with your cancellation confirmation and request a detailed breakdown.

Your refund rights under australian consumer law

As an Australian consumer, you have legal protection when you cancel an investment account, and Spaceship must comply with those rights.

Your legal position on refunds and cancellation

Under the Australian Consumer Law (part of the Competition and Consumer Act 2010), you have the right to cancel and receive your money back without unreasonable delay. Spaceship cannot impose hidden closure fees, cannot delay your refund indefinitely, and cannot claim a cancellation charge beyond what is clearly stated in their terms and conditions. The relevant authority is the Australian Securities and Investments Commission (ASIC), which oversees financial services and enforces these protections.

In plain language, this means: Spaceship must refund your money within a reasonable timeframe (normally within 5 business days, as they state), and they cannot impose surprise charges that aren't disclosed in your product terms. If they refuse to refund you, or if they claim a charge you don't understand, you have the right to lodge a formal complaint with ASIC or escalate to the Financial Ombudsman Service (FOS).

What if Spaceship doesn't refund you on time

If your money hasn't arrived within 7 business days of your cancellation request, take these steps:

1. Check your bank account again, including your spam filter for emails from your bank.
2. Contact Spaceship support with your confirmation email and ask for the refund status. Use the email address [email protected] and quote your account ID.
3. If support doesn't respond within 2 business days, or if they claim the money was sent but you haven't received it, ask them to provide proof of the transfer (a bank reference number or transaction receipt).
4. If Spaceship cannot provide proof or claims the refund is delayed beyond 10 business days, escalate to the Financial Ombudsman Service (FOS) by visiting fos.org.au.
   • FOS is a free dispute resolution service that can order Spaceship to refund you plus compensation for the delay.
   • You do not need a lawyer to lodge a complaint with FOS.
5. Tocancel can help you prepare your FOS complaint if you need support; document everything including cancellation emails, support responses, and proof that the money hasn't arrived.

Common mistakes to avoid when cancelling Spaceship

Cancelling an investment account can feel stressful, especially if your money is involved. Here are the pitfalls Tocancel has seen consumers face, and how to avoid them.

Not saving your confirmation emails and documents

This is the single most costly mistake. If Spaceship later claims they never received your cancellation request, or if there's a dispute about the refund amount, your confirmation email is your proof. Before you cancel, set up a folder on your computer or in your email client called "Spaceship Cancellation." The moment you submit your request, save every email, screenshot, and confirmation Spaceship sends you. Do the same for your bank's confirmation that the money arrived (or a screenshot showing the transaction date if it hasn't yet).

Cancelling during a market crash without thinking about tax

If you cancel when your portfolio is down significantly, you won't trigger capital gains tax, which is good. But if you cancel when your investments are up, you're crystallising those gains and facing a tax bill. Before you click "Close account," log in and note the current value of your holdings. Then check your transaction history to see what you originally invested. If you're up by more than a few hundred dollars, consider speaking to an accountant about the tax impact, or wait until the next financial year to cancel if that makes sense for your situation.

Not specifying the correct bank account for your refund

During closure, Spaceship asks where you want your money sent. If you don't enter a valid account number and BSB, the refund might bounce back, or worse, get sent to an old account you no longer use. Before you cancel, have your current bank account details ready (account number and BSB). Double-check them letter by letter before you confirm. If you make a mistake and the refund goes to the wrong account, contact Spaceship immediately with a corrected account number and request a re-send.

Cancelling Spaceship super without having a receiving super fund ready

If you close Spaceship Super without nominating a receiving super fund, your money may get stuck in a holding account or sent to the Australian Taxation Office (ATO) as an unclaimed super balance. Before you initiate super closure, open a new super account elsewhere or confirm that you have an existing super account ready to receive the rollover. Never close Spaceship Super first and worry about where the money goes later.

Ignoring unexpected fees on your final statement

When you close your account, Spaceship will often charge you a final management fee for the fraction of the month you used the service (for example, if you cancel on the 15th, you might be charged half of the A$3 monthly fee). This is standard and legal. However, if you see charges you don't recognise-such as a "closure fee" or "early withdrawal penalty"-investigate before you accept them. Check your product disclosure statement; if the charge isn't listed there, dispute it with Spaceship support and ask for a detailed explanation.

After your account is closed: what you need to do

Once your money arrives and your account is officially closed, a few final steps will protect your financial security and ensure there are no surprises later.

Verify your refund has arrived in full

As soon as the money hits your bank account, check the amount against your Spaceship confirmation email. The amounts should match (or be within a few dollars due to currency or processing fees, which are rare). If the amount is significantly different, contact Spaceship support immediately with both your confirmation email and your bank statement. If support is unresponsive or refuses to explain the difference, escalate to the Financial Ombudsman Service within 3 months of the cancellation.

Check your email for any further communication from Spaceship

Over the next week, watch for emails about your closure. Spaceship sometimes sends a final statement or tax document (for example, a capital gains or distributions statement). Keep these emails and documents in your records for your accountant. If you receive an email claiming your account is still active or asking you to log in, do not do so; this could be a phishing scam. Contact Spaceship support to confirm your account is genuinely closed.

Review your bank and credit card statements

For the next three months, keep an eye on your bank and credit card statements. Make sure Spaceship doesn't continue to charge the A$3 monthly fee after closure. If you see any unexpected charges from Spaceship after your account is closed, contact your bank immediately and dispute the charge. Most banks will reverse unauthorised charges within 5-10 business days.

Confirm your closure with your tax advisor

If you made a profit on your Spaceship investments, your tax advisor or accountant needs to know about the capital gains for your tax return. Spaceship will usually provide a transaction summary or capital gains statement; pass this to your accountant so they can include it in your tax filing. This protects you from underpaying tax and facing penalties later.

Checklist: everything you need to cancel Spaceship safely

Use this checklist to make sure you've completed every step before and after cancellation.

What customers say about cancelling Spaceship

Real Australians have shared their experiences cancelling Spaceship. Many report that the process is quick and painless when you use the app, with funds arriving within the stated five business days. Others have flagged that the platform occasionally charges a final partial month fee, though this is legal and disclosed in the terms. A few customers mentioned that customer support responses were slow during peak periods, but all issues were eventually resolved. The overall pattern is positive: people who follow the steps in this guide have smooth cancellations and receive their refunds without dispute.

Frequently asked questions about cancelling Spaceship

Will i lose money when i cancel?

You won't lose money through a cancellation fee (Spaceship doesn't charge one). However, your refund amount depends on what your investments are worth on the day they're sold. If the market has fallen since you invested, your refund will be less than your original investment. This is not a loss caused by cancellation; it's a reflection of your investment performance. If the market has risen, your refund will be more than you invested, and you'll owe capital gains tax on the profit.

Can i get a refund if i've already sold my investments?

Once you've sold your investments through Spaceship, you own cash, not units. If you then cancel your account, that cash is refunded to you immediately (usually the same day). There's no additional selling or delay involved.

What if i change my mind after cancelling?

If you cancel your account and realise you've made a mistake, you cannot undo the cancellation through the app. Contact Spaceship support immediately at [email protected] and ask whether they can reverse the closure before the refund is processed (this usually takes 24-48 hours). If the refund has already been sent to your bank, you'll need to open a new Spaceship account and reinvest the money. Note that any capital gains you triggered by closing will still apply to your tax return.

Do i need to cancel through the app, or can i just stop using the account?

You should formally cancel through the app or email. If you simply stop logging in, your account remains open and Spaceship will continue to charge you the A$3 monthly fee for Voyager (or equivalent fees for other products). The account fee will gradually erode your balance even if you're not trading. Formal cancellation is the only way to stop these charges and retrieve your money.

Will cancelling affect my credit score?

No. Spaceship is an investment platform, not a lender, so closing your account does not affect your credit score. Credit scores are based on borrowing and repayment history, not investment accounts.

Compare your options: stay, pause, or cancel

This table summarises the pros and cons of staying, pausing, or cancelling, so you can make an informed decision right now.

Contact Spaceship to start your cancellation

When you're ready to cancel, here's where to go:

Via the mobile app: Open Spaceship, navigate to Menu or Account, select "Close my portfolio" or "Close account," and follow the prompts.

Via email: Send a cancellation request to [email protected] with your account ID, full name, and preferred refund account details.

Via the website: Visit help.spaceship.com.au and submit a support ticket through the contact form.

Spaceship's Australian office does not publish a postal address for account closures; email or in-app submission is the fastest route. If you encounter delays or problems during the cancellation process, contact Tocancel for advice on escalating to ASIC or the Financial Ombudsman Service.

Take control: cancel Spaceship with confidence

Cancelling an investment account is a significant financial decision, but it doesn't have to be complicated or stressful. By following the steps in this guide, understanding your rights under Australian consumer law, and saving your confirmation documents, you'll protect yourself from delays, disputes, and unexpected charges. Whether you're moving to a better platform, simplifying your finances, or stepping back from investing, you have the legal right to close your account and withdraw your money without excessive fees or unreasonable delay.

If Spaceship refuses to refund you on time, disputes the amount, or continues to charge you after closure, remember that you have recourse through the Financial Ombudsman Service (FOS) and ASIC. You do not need to accept poor service or delayed payment. Tocancel has helped thousands of Australian consumers successfully cancel investment accounts, subscriptions, and financial products, and we're here to support you if you encounter any issues during or after your Spaceship closure. Save this guide, follow the checklist, and you'll be on your way to taking control of your financial life.