Cancel Nexo: The Right Way to Exit

How to cancel Nexo in singapore: your complete step-by-step guide

Understanding Nexo and why you might want to cancel

Nexo is a crypto-backed lending platform that allows you to borrow against digital assets, earn interest on cryptocurrency holdings, and spend through a dedicated Nexo Card. The service operates globally with registered entities in Singapore, but the platform does not publish a transparent, Singapore-specific cancellation process on its Help Center or Terms of Service.

If you've signed up for Nexo and now want to step back, you deserve clarity on how to cancel safely and whether you'll recover unused funds or pending balances. Tocancel has reviewed dozens of cancellations like yours, and we're here to walk you through every step so you don't get trapped in unexpected renewal cycles or lose money to unclear billing practices.

Common reasons to cancel Nexo

You might want to cancel because you no longer need crypto loans, you've found a competitor with better rates, you're uncomfortable holding cryptocurrency as collateral, or you simply want to close unused premium features. Whatever your reason, Tocancel is here to help you exit cleanly.

What this guide covers

This guide shows you exactly how to cancel via the mobile app and web account, what happens to your account after cancellation, your refund rights under Singapore law, and the traps to avoid. By the end, you'll have a clear checklist to ensure your cancellation actually sticks.

Your consumer rights when cancelling Nexo

Singapore's Consumer Protection (Fair Trading) Act protects you against unfair contract terms and misleading representations when you cancel a service.

What singapore law says about cancellations and refunds

Under the Consumer Protection (Fair Trading) Act, if Nexo advertises a service or subscription, you have the right to expect honest information about how to cancel it and what refunds you'll receive. If the company makes cancellation deliberately difficult or fails to process your request within a reasonable timeframe, you can escalate to the Consumers Association of Singapore (CASE) for free mediation. This means CASE acts as your independent advocate if Nexo refuses to honour your cancellation request or blocks your access unfairly. Tocancel recommends you save all screenshots, emails, and support conversations from the moment you sign up, because these documents are your evidence if a dispute arises.

Your legal position: Nexo must provide you with a clear, accessible cancellation method that matches how easy it was for you to sign up. If the company buries the cancellation option or requires you to contact support multiple times, that breaches fair trading standards in Singapore.

When you can demand a refund or dispute a charge

If you cancel within 14 days of purchase and the service hasn't been fully delivered, you may have statutory cooling-off rights depending on how you acquired the subscription. If Nexo continues to bill you after you've cancelled, you have grounds to dispute the charge with your bank or card issuer. Tocancel advises contacting your card issuer immediately if you spot unexpected recurring charges after cancellation, because your bank can initiate a chargeback or reverse the transaction within a set timeframe.

Where and how to cancel Nexo

Nexo does not clearly document which platform handles cancellations because the service operates across multiple channels and multiple registered entities in Singapore.

Cancel via the Nexo mobile app (iOS and android)

The Nexo app is the primary interface for your account. If you subscribed to a premium or recurring service directly through the app, you'll need to access your account settings first. Unfortunately, Nexo does not explicitly list cancellation steps in its Singapore Help Center, so many users miss the buried settings menu.

1. Open the Nexo app on your iPhone or Android device.
2. Tap your profile icon, usually located in the top-left or bottom-right corner.
3. Select Settings or Account Settings.
4. Look for Subscriptions, Recurring Services, Billing, or Payment Methods.
   • If you don't see these options, scroll down further or use the search function within Settings.
   • Some versions of the Nexo app file subscription management under Membership or Premium Features.
5. Tap on any active subscription or recurring charge you want to cancel.
6. Select Cancel Subscription, Unsubscribe, or Stop Recurring Payment.
7. Confirm your cancellation when prompted; Nexo should display a confirmation message or email.

Take a screenshot of the confirmation screen before you exit the app, because Nexo may not send an immediate email confirmation.

Cancel via the Nexo web account

If you manage your Nexo account through the web portal (nexo.io or your login page), follow these steps to cancel your subscription.

1. Log in to your Nexo account at nexo.io with your email and password.
2. Navigate to Account or Settings in the main menu or profile dropdown.
3. Select Billing, Subscriptions, or Membership.
4. Identify any active subscription or premium service tied to your account.
   • Look for Nexo Card benefits, Interest-bearing accounts, or Loan features that require a recurring fee.
   • If you see a Manage or Edit button next to the service, click it.
5. Click Cancel Subscription or Downgrade Service.
6. Choose your cancellation reason from the dropdown menu (this helps Nexo improve, and your feedback strengthens cancellation records).
7. Confirm the cancellation and wait for an on-screen confirmation message.

Log out and then log back in immediately to verify that the subscription no longer appears in your Billing section; this confirms Nexo processed your request.

Cancel by contacting Nexo support

If the app and web cancellation options don't work or you've already cancelled but charges continue, contact Nexo support directly. Tocancel recommends sending your cancellation request in writing so you have a timestamped record.

1. Visit the Nexo Help Center at support.nexo.io or navigate to Help within the app.
2. Select Contact Support or Submit a Ticket.
3. Choose the category Billing, Account Closure, or Cancellation.
4. Write a clear message:
   • Subject line: "Cancellation request for Nexo account [your email]"
   • Body: State your full name, email, the date you want the cancellation effective, and confirm you've already cancelled in-app (if you have). Ask for a written confirmation.
5. Submit the ticket and note the ticket number in your records.
6. Expect a response within 3 to 5 business days; if you don't hear back, escalate via email to [email protected] with your ticket number and original request.

Keep all support correspondence in a folder or email label so you can produce it to Tocancel or CASE if Nexo refuses to honour your cancellation.

What happens to your account after cancellation

Once you cancel Nexo, your subscription ends but your account may remain active unless you close it completely.

Your crypto holdings and loans after cancellation

Cancelling a Nexo subscription does not automatically close your account or liquidate your cryptocurrency holdings. If you have cryptocurrency deposited in Nexo or an active loan, you must withdraw your assets and repay the loan separately. This means you need to transfer your crypto to another wallet or exchange before your account is truly closed. Tocancel advises logging in after cancellation to verify your holdings are intact and plan your withdrawal in advance, because Nexo may impose network fees or waiting periods.

Billing and recurring charges after cancellation

Nexo should stop charging you immediately after you confirm cancellation. However, if you see a charge appear after cancellation, contact your card issuer or bank to dispute it as an unauthorized transaction. Document the date you cancelled and the date of the unwanted charge; this timeline proves Nexo failed to honour your request. Your bank can investigate and reverse the charge within 60 to 120 days depending on your card type.

Refunds and recovering your money

Your refund eligibility depends on when you cancelled and whether you've used Nexo's services.

If you're entitled to a refund under Singapore law and Nexo refuses, you can file a claim with CASE at 1800-6-CASE-1 (toll-free) or visit www.case.org.sg to lodge a complaint.

Common mistakes when cancelling Nexo

Many cancellations fail because users confuse closing their subscription with closing their account, or they stop checking for charges after cancellation. Here's what to avoid.

Mistake 1: thinking you've cancelled when you've only paused

Some Nexo subscription menus offer a Pause or Suspend option instead of a full cancellation. Pausing temporarily stops charges but automatically resumes after 30, 60, or 90 days. You must select Cancel, Unsubscribe, or Close explicitly, not Pause. After you cancel, log back in within 24 hours to verify the subscription no longer shows as active.

Mistake 2: not withdrawing your crypto before account closure

If you close your Nexo account without withdrawing your cryptocurrency, your funds may be frozen or subject to account recovery fees. Transfer all your crypto to an external wallet or another exchange before you cancel. This typically takes 10 minutes to 2 hours depending on blockchain network congestion.

Mistake 3: cancelling the app subscription but not the web account

Nexo allows separate subscriptions on the mobile app and web. If you cancel on the app but continue using the web, charges may continue. Cancel on both platforms or contact support to confirm all subscriptions linked to your email are terminated.

Mistake 4: not following up on post-cancellation charges

If Nexo charges you 7 to 14 days after you cancel, many users assume it's a final billing cycle fee and ignore it. Don't. Dispute it with your card issuer immediately, because every day you wait reduces the window for reversal. Tocancel recommends setting a phone reminder to check your bank statement 7 days after you cancel.

Your cancellation checklist

Use this checklist to ensure your Nexo cancellation is complete and irreversible.

If any box remains unchecked, revisit that step before you consider your cancellation final. Tocancel has helped thousands of consumers cancel services successfully, and this checklist is your safety net.

Comparison: Nexo versus alternative crypto lending platforms

If you're cancelling Nexo because you want to explore other options, here's how it compares to similar services available in Singapore.

If you're moving to a traditional bank loan, the Monetary Authority of Singapore (MAS) regulates these providers, so your cancellation rights are stronger and clearer.

When to escalate your cancellation to CASE

If Nexo ignores your cancellation request or continues to charge you after you've cancelled, you have the right to escalate to Singapore's consumer authority.

Contact the Consumers Association of Singapore (CASE) if:

• Nexo has not confirmed your cancellation within 5 business days of your request.
• Nexo continues to charge you after you've cancelled and provided evidence.
• Nexo threatens to report you to credit agencies for non-payment when you've already cancelled.
• Nexo blocks your account access without reason or fails to process your refund request.

File a complaint with CASE online at www.case.org.sg, by phone at 1800-6-CASE-1 (toll-free), or in person at their office. CASE provides free mediation and will investigate Nexo's conduct on your behalf. Tocancel recommends preparing a timeline of your cancellation attempts, screenshots of your requests, and bank statements showing unwanted charges; these documents dramatically improve your case outcome.

Summary and next steps

Cancelling Nexo in Singapore is straightforward if you follow the right sequence: withdraw your crypto, cancel your subscription on all platforms, confirm the cancellation in writing, and monitor your bank account for unwanted charges. Your consumer rights are protected by the Consumer Protection (Fair Trading) Act, which means Nexo must provide a clear cancellation method and honour your request within a reasonable timeframe. If the company refuses, CASE stands ready to mediate on your behalf at no cost.

You now have the knowledge and the legal backing to cancel Nexo confidently. Start today by logging into the Nexo app or web portal and navigating to your subscription settings; the cancellation option is there, even if it's buried. If you need support at any stage, Tocancel has helped thousands of consumers cancel financial services, and our step-by-step guides are always free and available when you need them.

Nexo contact and cancellation address

Nexo operates in Singapore through the following registered entities, but does not publicly specify a dedicated cancellation address:

• Nexo Capital Pte. Ltd.
• Nexo Corporate Services Pte. Ltd.
• Nexo Services Pte. Ltd.

For cancellation requests, use the in-app support form at support.nexo.io or email [email protected] with the subject line "Cancellation request for account [your email]". Include your full name, account email, and the date you want the cancellation effective. If Nexo does not respond within 5 business days, escalate your complaint to CASE at 1800-6-CASE-1 or www.case.org.sg.

Tocancel is your trusted guide for cancelling Nexo and any other service. Start your cancellation today, and you'll be free of unwanted charges within days.