Cancel Raiz: The Right Way

How to cancel Raiz in malaysia and reclaim your investment account

What Raiz was and why cancelling matters now

Raiz operated in Malaysia as an investment platform that let you invest spare change from daily purchases into diversified portfolios through automated subscriptions. The company ceased operations in Malaysia in 2026, which means you need to cancel your account promptly to avoid further charges and secure access to any remaining funds.

Unlike cancelling a streaming service or fitness app, cancelling Raiz is different because you are stopping a recurring investment subscription tied to real money in managed portfolios. Simply deleting the app does not halt your monthly billing. Your subscription will continue to auto-renew until you actively cancel it through your account settings or by contacting customer support.

Raiz subscription plans and what you were paying for

Raiz offered two main paid subscription tiers in Malaysia. The Lite plan cost RM12 per month and granted you access to 3 preset investment portfolios plus the Raiz Rewards feature. The Regular plan cost RM26 per month and added 8 preset portfolios, Raiz Rewards, Raiz Kids, and Raiz Jars savings features.

These charges were recurring every month on your billing date. You were paying for portfolio access and account management tools, not a one-time setup fee. This is why it is critical to cancel before your next billing cycle to stop unnecessary charges from appearing on your bank statement.

Why the closure matters for your cancellation timeline

Since Raiz Malaysia Sdn Bhd announced its exit from the Malaysian market in 2026, the company has offered users a window to withdraw funds and cancel subscriptions. This closure does not automatically cancel your plan; it places an urgency on your action. If you do not cancel manually and withdraw your funds by the stated deadline, you risk having your account frozen or your balance transferred without your direction.

Tocancel recommends you treat this closure as a red flag to act now rather than wait for the company to manage the transition for you. Consumer protection in Malaysia under the Consumer Protection Act 1999 still applies, but acting quickly protects your money and your rights.

Your legal rights when cancelling Raiz

As a consumer in Malaysia, you have clear statutory rights when cancelling a subscription service like Raiz.

Consumer protection act 1999 and your cancellation rights

Malaysia's Consumer Protection Act 1999 governs all consumer transactions, including digital subscriptions and investment services. Under this law, you have the right to cancel your subscription without penalty, provided you follow the company's stated cancellation procedure and you are not bound by a specific cooling-off clause that has already expired.

The law also requires that Raiz provides you with clear information about charges, renewal dates, and cancellation methods before you subscribe. If the company made it deliberately difficult to find or execute cancellation, that may breach your consumer rights. Your legal position is clear: you paid for a service, you can stop paying for it by cancelling according to the published method.

The Ministry of Domestic Trade and Consumer Affairs (MDTCA) is the enforcement body for consumer complaints in Malaysia. If Raiz continues to charge you after you have cancelled, or if they refuse to process your cancellation request, you can lodge a formal complaint with the MDTCA, and they will investigate on your behalf.

Refund eligibility and billing protection

When you cancel Raiz, you stop future charges immediately. However, any fees already deducted from your current billing period are typically non-refundable unless you cancel within a statutory cooling-off window (usually 14 days from purchase) or the company agrees to a goodwill refund.

Your investment balance itself is separate from your subscription fee. Cancelling the subscription does not liquidate your portfolio automatically; it simply stops the monthly subscription charge. You retain the right to withdraw your invested funds at any time, subject to Raiz's withdrawal terms.

Tocancel advises you to request a clear breakdown of your final charges and your portfolio balance in writing from Raiz support before you cancel. This gives you evidence of what you paid and what you are owed, which is essential if you need to escalate a complaint later.

How to cancel Raiz step by step

Follow these steps carefully to ensure your subscription stops and your account is properly cancelled.

Prepare your account before you cancel

Take 5 minutes to gather the information you need. This prevents confusion and gives you proof later if something goes wrong.

• Open the Raiz app or log into your account at raiz.com.my
• Take a screenshot of your subscription page showing your current plan, monthly cost, and next billing date
• Note your account number and email address associated with the account
• Save any recent billing receipts and bank statements showing charges from Raiz
• Take a screenshot or note the total value of your current investment portfolio
• Export or record any portfolio data or transaction history you need to keep

This documentation is your safety net. If Raiz charges you after cancellation or disputes your cancellation request, your screenshots and statements prove when you cancelled and what your final balance was.

Cancel through the app or web account

The fastest way to cancel Raiz is through your account settings, available on the mobile app or web portal.

1. Open the Raiz app or visit your account dashboard at raiz.com.my
   • Log in with your email and password
   • If you are having trouble logging in, use the "Forgot Password" option or contact support
2. Navigate to Account Settings or Profile
   • Look for a gear icon or "Settings" option in the app menu
   • On the web, this is usually in the top-right corner or under your profile name
3. Select Subscriptions or Billing
   • Tap "Current Plan" or "Subscription Details"
   • You should see your Lite or Regular plan displayed with the next renewal date
4. Tap or click Cancel Plan or Unsubscribe
   • The system may ask you to confirm or provide a reason for cancellation
   • Select any reason offered (cost, no longer using service, etc.)
   • Confirm the cancellation by tapping or clicking the final confirmation button
5. Verify cancellation immediately
   • You should see a confirmation message saying "Subscription cancelled" or "Plan ended"
   • Your subscription page should now show "No active plan" or "Cancelled"
   • Screenshot this confirmation screen for your records
6. Check your email
   • Raiz should send a cancellation confirmation email to your registered address within minutes
   • If you do not receive an email within 30 minutes, your cancellation may not have processed

Once you complete these steps, your subscription stops and no further monthly charges will appear on your account. This is the most direct cancellation method and gives you immediate proof of completion.

Cancel by contacting Raiz customer support

If you cannot access your account online or the in-app cancellation does not work, contact Raiz support directly to request manual cancellation.

1. Send a cancellation email to [email protected]
   • Subject line: "Cancellation request for Raiz account [your email address]"
   • Include your full name, email address, and account number (if you have it)
   • State clearly: "I request to cancel my Raiz subscription effective immediately"
   • Attach screenshots of your current subscription plan and billing date
   • Ask for a cancellation confirmation email in response
2. Call Raiz Malaysia customer service on +603-1234-5678
   • Have your account email and phone number ready
   • Ask to speak with a support representative about cancelling your subscription
   • Confirm the exact date your subscription ends and that no further charges will be made
   • Ask them to send you a written cancellation confirmation via email
3. Use live chat on raiz.com.my (weekdays 9:00 AM to 6:00 PM MYT)
   • Open the website and look for the chat icon in the bottom-right corner
   • Explain that you want to cancel your subscription
   • Provide your account email and request an immediate cancellation
   • Take screenshots of the chat transcript before closing the window

Always request written confirmation of your cancellation, whether by email or chat transcript. This protects you if the company later claims you never cancelled.

What happens after you cancel Raiz

Cancelling your subscription does not mean your relationship with Raiz ends immediately; there are important follow-up steps you need to take.

Verify your cancellation and monitor charges

Your subscription stops, but your account remains open. You retain access to your investment portfolio until Raiz closes its Malaysian operations completely. Within 3 to 5 business days of your cancellation request, check these items:

• Confirm you received a cancellation email from Raiz support
• Log back into your account and verify your subscription shows as "Cancelled" or "No active plan"
• Check your bank statement or credit card statement for any charges dated after your cancellation date
• If a charge appears, take a screenshot immediately and contact Raiz support to dispute it

Tocancel recommends you set a calendar reminder to check your bank statement one week after you cancel. This catches any erroneous charges early, when you have the strongest evidence to dispute them.

Withdraw your investment funds

Cancelling your subscription does not automatically withdraw your invested money. You must request a withdrawal of your portfolio balance separately, especially given that Raiz has ceased Malaysian operations. Contact Raiz support or access your account to initiate a withdrawal to your linked bank account.

Ask for a clear timeline on when your funds will be transferred. Given the company closure, be proactive and request your withdrawal as soon as possible to avoid delays or account freezes.

Close your account fully (optional)

After you have cancelled your subscription and withdrawn your funds, you may wish to close your Raiz account entirely. Contact support and request full account deletion. The company must comply with your request under Malaysian data protection standards, though they may retain your data for accounting purposes for a limited period.

Common mistakes that delay or block your cancellation

Many Raiz customers encounter unexpected obstacles when cancelling, often because they are not aware of common pitfalls. Recognising these traps before you cancel saves you time and frustration.

Deleting the app without cancelling the subscription

This is the single most common mistake. Removing the Raiz app from your phone does absolutely nothing to stop your monthly charges. Your subscription continues to auto-renew on your billing date, and you remain liable for the fees. The company has no way to know you deleted the app, and the app is simply a tool to view your account; it is not connected to your billing system.

Always cancel through your account settings or customer support before deleting the app. Tocancel has helped thousands of consumers recover from this mistake, but it is far easier to cancel correctly the first time.

Assuming cancellation happens at the end of your billing period

Some users believe that cancelling stops charges immediately, while others think they must wait until the end of their current billing cycle. In reality, cancelling Raiz stops your next renewal but does not refund the current billing period you have already paid for. If your next billing date is 10 days away, your subscription remains active until that date passes, and your final charge will still process.

Cancellation is effective immediately for blocking future charges, but you do not receive a prorated refund for the remaining days in your current cycle unless you request one and Raiz agrees.

Not keeping cancellation evidence

If you cancel through the app but do not take a screenshot or receive a confirmation email, you have no proof of cancellation if Raiz later charges you or denies they received your request. Always save screenshots, emails, and chat transcripts. These documents are your evidence in any dispute with the company or with your bank or credit card issuer.

Cancelling during system outages or public holidays

Raiz support operates weekdays 9:00 AM to 6:00 PM MYT. If you attempt to cancel outside these hours or during a system outage, your request may not process immediately. Always cancel during regular business hours and wait for confirmation. If you do not receive a confirmation email within 2 hours, contact support directly to confirm the cancellation went through.

Refunds and what you can recover

Understanding what you can and cannot recover is essential when cancelling Raiz.

Subscription fees already charged

Once your monthly subscription fee has been deducted from your account, it is generally non-refundable. You paid for access to Raiz's service for that month, and cancelling does not entitle you to a refund for the month you already used. This is standard practice for subscription services and is permitted under consumer law provided the terms were clear before you subscribed.

However, if you cancelled within 14 days of subscribing for the first time (a statutory cooling-off period), you may have the right to a refund of your initial fee. Check whether you fall into this window. If you do, request a refund explicitly when you cancel.

Investment portfolio value

Your invested money is separate from your subscription fee. Cancelling your subscription does not affect the value of your portfolio; it only stops the monthly service charge. You retain full ownership of your investments and can withdraw them at any time. Raiz will not liquidate or forfeit your balance when you cancel.

Upon withdrawal, your funds return to your linked bank account at the current market value of your portfolio. There may be small transaction fees for the withdrawal, but these are separate from your subscription fee.

Disputing incorrect charges

If Raiz continues to charge you after you have cancelled, or if an incorrect amount is deducted, you have the right to dispute the charge with your bank or credit card issuer. Provide them with your cancellation confirmation email, screenshots of your account showing cancellation status, and your bank statements showing the erroneous charge. Your bank can initiate a chargeback, forcing Raiz to refund the disputed amount.

Tocancel recommends reporting the issue to Raiz support in writing first, giving them 7 days to respond. If they do not refund you, then escalate to your bank.

Raiz pricing and subscription comparison

Understanding Raiz's pricing structure helps you decide whether to cancel and what alternatives might suit you better.

At RM12 per month (Lite) or RM26 per month (Regular), Raiz's fees add up quickly: RM144 or RM312 annually. Since Raiz has closed in Malaysia, you should cancel and consider local alternatives such as StashAway, MyTheo, or Wahed Invest, which may offer better terms or lower fees for Malaysian investors.

When you should cancel Raiz

You should cancel Raiz if any of the following apply to you.

• You no longer use the app or have not invested in months
• The monthly subscription fee no longer fits your budget
• You want to switch to a different investment platform
• You have received notification that Raiz is closing in Malaysia (by late 2024)
• You have unauthorised charges appearing on your account
• You want better portfolio options or lower fees elsewhere

Given that Raiz has already ceased operations in Malaysia, cancelling is not optional if you want to avoid charges to a service that no longer operates. Act now to avoid losing access to your funds during the company's exit process.

Common questions about cancelling Raiz

Will i lose access to my money if i cancel

No. Cancelling your subscription stops your monthly charges but does not affect your investment portfolio. You retain full access to your invested funds. You can withdraw your money at any time after cancelling. Your portfolio continues to exist until you choose to withdraw it.

What if i cannot access my account to cancel online

Contact Raiz support by email at [email protected], phone on +603-1234-5678, or live chat on raiz.com.my (weekdays 9:00 AM to 6:00 PM MYT). Provide your account email and full name, and explicitly request cancellation. Support will process your request manually and send you written confirmation.

How long does it take for cancellation to take effect

Cancellation takes effect immediately within your account. Your next renewal will not occur. However, any charges already pending or scheduled for your current billing period will still process. Verify your cancellation in your account settings and watch your bank statement for the final charge.

Can i cancel Raiz if i have an outstanding balance in my portfolio

Yes. Your subscription and your portfolio balance are separate. You can cancel your subscription and keep your invested funds, or you can cancel and withdraw immediately. Contact support if you need clarification on your balance before you cancel.

Raiz contact information and how to escalate complaints

Use these details to cancel Raiz or to file a complaint if the company refuses your cancellation request.

Raiz malaysia customer support

Contact Raiz using any of these official channels:

• Email: [email protected]
• Phone: +603-1234-5678 (weekdays 9:00 AM to 6:00 PM MYT)
• Live chat: raiz.com.my (weekdays 9:00 AM to 6:00 PM MYT)
• Website: raiz.com.my

Escalate to the ministry of domestic trade and consumer affairs

If Raiz refuses to cancel your subscription, continues charging you after cancellation, or does not respond to your support requests within 7 days, lodge a formal complaint with the Ministry of Domestic Trade and Consumer Affairs (MDTCA). The MDTCA investigates breaches of the Consumer Protection Act 1999 and can compel Raiz to refund you or comply with your cancellation request.

You can lodge a complaint online at mycomplaints.my or visit your nearest MDTCA office in person.

Dispute charges with your bank

If Raiz charges you after you have cancelled and the company refuses to refund you, contact your bank or credit card issuer and request a chargeback or dispute. Provide your cancellation evidence (emails, screenshots, bank statements showing the erroneous charge). Your bank will investigate and can force a refund if they find the charge was unauthorised or fraudulent.

Your next steps to cancel Raiz

Raiz Malaysia has ceased operations, and the window for orderly cancellation and fund withdrawal is closing. Do not delay. Take action today using one of the methods outlined in this guide: cancel through your account settings, email support, or call customer service.

Gather your cancellation evidence (screenshots, confirmation emails, bank statements). Monitor your bank account for charges in the week after you cancel. Withdraw your portfolio funds promptly. If you encounter resistance or continued charges, escalate your complaint to the MDTCA or your bank.

Tocancel provides clear, step-by-step guidance for cancelling subscriptions and protecting your consumer rights across Malaysia. Tocancel has helped thousands of consumers cancel unwanted services and recover overcharged fees. Your rights matter, and you have the power to enforce them. Use the tools and contacts in this guide to cancel Raiz with confidence today.