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Cancel Raiz: The Right Way to Protect Your Investment
Learn how to cancel Raiz easily and safeguard your finances. Get step-by-step guidance with a 4.8/5 rating. Start your cancellation today!
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How to cancel Raiz and protect your investment account in singapore
What Raiz is and why you might want to cancel
Raiz is a fintech investment application that rounds up your everyday purchases and invests the spare change into diversified portfolios. You link your bank card, select a portfolio that aligns with your risk tolerance, and the app handles the rest-automatically investing small amounts without requiring active management on your part.
The service operates entirely through mobile and web platforms, making it accessible for Singapore investors seeking hands-off wealth building. However, if Raiz no longer matches your financial goals, your investment preferences, or your budget, understanding how to cancel is essential. Tocancel provides clear guidance to help you navigate the cancellation process confidently.
When you should consider cancelling Raiz
You might cancel Raiz if monthly subscription fees no longer justify your portfolio size, you prefer managing investments independently, you've found a competing app with lower costs, or you want to consolidate your finances elsewhere. Whatever your reason, cancelling is straightforward-but timing matters significantly, and understanding what happens to your money is critical.
Your right to cancel anytime under singapore law
Under Singapore's Consumer Protection (Fair Trading) Act, you have strong protections when dealing with fintech services and subscription platforms. Raiz allows you to cancel your subscription at any time, though the timing of when that cancellation takes effect depends on your billing cycle. This is important: cancellation stops future charges, but your subscription remains active until the end of your current billing period. Your legal position is clear-you can terminate the service without penalty, provided you follow the correct cancellation procedure.
Understanding Raiz pricing and subscription plans
Before you cancel, understanding exactly what you've been paying for and what fees you'll avoid is essential to making an informed decision.
Raiz subscription tiers and costs
Raiz offers tiered subscription plans based on your account balance and chosen portfolio strategy. The pricing below reflects available market data; Singapore pricing in SGD may differ from Australian rates. You should contact Raiz support directly or check your app for current rates specific to your region and account tier.
| Plan name | Approximate monthly cost | Account balance tier | Key features |
|---|---|---|---|
| Lite Plan | SGD 3-4 | Under SGD 2,000 | 3 standard portfolios, rewards program, basic investing |
| Standard Plan | SGD 6-8 | SGD 2,000-SGD 20,000 | Standard portfolios, round-up automation, portfolio management |
| Plus Plan | SGD 8-10 | SGD 20,000+ | Unlimited trades, advanced portfolios, priority support |
| Premium Option | SGD 6-8 + 0.275% per annum | All balances | Dedicated fund access, automated investing, fee-based advisory |
How your billing cycle affects cancellation timing
Your subscription renews on the same day each month (or year, if you've selected annual billing). If you cancel fewer than 24 hours before that renewal date, Raiz will likely charge you for the next billing period. This is the single most common reason people accidentally pay for a subscription they intended to cancel. Tocancel strongly recommends cancelling at least one full day before your renewal date to avoid this trap and protect your account balance.
How to cancel Raiz step by step
Your cancellation method depends on where you subscribed-the Apple App Store, Google Play Store, or the Raiz website directly. Each platform handles cancellations differently, so follow the instructions that match your subscription source precisely.
If you subscribed through the apple app store
- Open the Settings app on your iPhone or iPad
- Scroll down and tap your Apple ID profile at the top
- Select "Subscriptions" from the menu
- Find Raiz in your active subscriptions list
- Tap on the Raiz subscription entry
- You will see your renewal date and current plan details
- Tap "Cancel subscription" at the bottom of the screen
- Apple will ask you to confirm the cancellation
- Choose your reason for cancelling (optional but helpful for the company)
- Confirm the cancellation when prompted
- You will receive an email confirmation from Apple within minutes
- Your access continues until the end of your current billing period
After you cancel through Apple, your Raiz account will remain active for the remainder of your current billing cycle. No refunds are issued for partial months, but you will not be charged again after your current period ends.
If you subscribed through google play store
- Open the Google Play Store app on your Android device
- Tap your profile icon in the top right corner
- Select "Manage subscriptions" from the dropdown menu
- Locate Raiz in your active subscriptions
- Tap the Raiz entry to view your subscription details
- Check your renewal date and current plan level
- Tap "Cancel subscription" at the bottom of the screen
- Google will present cancellation reasons for your feedback
- Select the reason that best matches your situation
- Confirm the cancellation request
- You will receive an immediate confirmation on screen
- A confirmation email will arrive from Google Play within a few minutes
Once you cancel via Google Play, your Raiz subscription will remain active until the end of your current billing period. You will not be charged again, and your account access continues as normal until cancellation takes effect.
If you subscribed directly through the Raiz website
- Log into your Raiz account on the website or mobile app
- Use your registered email address and password
- Enable two-factor authentication if prompted
- Navigate to your account settings or subscription section
- Look for "Account," "Settings," or "Billing" in the main menu
- Select the option related to subscriptions or billing management
- Find your active subscription and select "Cancel"
- Review your current plan details and renewal date
- Confirm that you wish to proceed with cancellation
- Complete any requested feedback or cancellation survey
- Raiz may ask why you are cancelling (this feedback is optional)
- Submit your cancellation request
- Verify your cancellation with the confirmation message
- You should see immediate confirmation on screen
- A confirmation email will be sent to your registered address
When you cancel directly through Raiz, your subscription ends at the conclusion of your current billing period. No charges apply after that date, and you retain full access to your account and investments until the cancellation takes effect.
What happens to your money after you cancel
Cancelling your Raiz subscription does not affect your existing investments-this is a critical distinction that protects your financial interests.
Your invested funds remain intact
When you cancel Raiz, your existing portfolio and any funds you have invested do not disappear. Your money remains invested in your selected portfolio until you actively choose to withdraw it. Cancellation simply stops the round-up contributions and future subscription charges-it does not liquidate your investments or close your account immediately.
Withdrawing your money after cancellation
After cancelling your subscription, you can withdraw your funds at any time. Log into your Raiz account, navigate to your portfolio, and select "Withdraw" to transfer your money back to your linked bank account. Raiz typically processes withdrawal requests within 3 to 5 business days. Some portfolio types or market conditions may extend this timeframe, so check with Raiz support if your withdrawal takes longer than expected.
Tax implications and investment records
Withdrawing your funds may trigger capital gains tax in Singapore if your investments have increased in value. You should maintain records of your initial investment, withdrawal amounts, and dates for tax reporting purposes. Consider consulting a tax advisor before withdrawing large sums, particularly if you have held investments for multiple years and realised significant gains.
Refunds and your cancellation rights
Understanding what you can and cannot recover after cancellation protects you from unexpected fees and ensures you act within your consumer rights.
Are refunds available for unused subscription time
Raiz does not typically offer refunds for unused portions of your subscription period if you cancel mid-cycle. This is standard practice for app-based subscriptions in Singapore. However, if you cancel within 14 days of your initial subscription purchase, you may be entitled to a full refund under Singapore's Consumer Protection (Fair Trading) Act, which grants a 14-day cooling-off period for distance contracts. This cooling-off right applies only to new subscriptions, not renewals.
Requesting a refund if you qualify
If you subscribed within the last 14 days and believe you qualify for a refund, contact Raiz support directly. Provide your subscription date, account details, and reason for requesting the refund. Raiz will review your request and respond within 5 to 10 business days. If Raiz refuses your refund claim, you can escalate the matter to the Monetary Authority of Singapore (MAS), which regulates financial services in Singapore and protects consumer rights in fintech matters.
Protecting yourself from unexpected charges
To avoid being charged after cancellation, confirm that your cancellation has been processed at least 24 hours before your renewal date. Keep your confirmation email from Apple, Google, or Raiz as proof of cancellation. If you are charged after cancelling, contact Raiz immediately and provide your cancellation confirmation. Tocancel advises that you request a refund of the erroneous charge, and escalate to your bank or payment provider if Raiz does not respond within 7 business days.
Your consumer rights and legal protections
Singapore's consumer protection framework gives you clear rights when cancelling fintech services like Raiz.
The consumer protection (Fair trading) act and your protections
The Consumer Protection (Fair Trading) Act protects you when you contract with businesses for goods and services, including digital subscriptions. Under this law, you have the right to cancel distance contracts (including app-based subscriptions) within 14 days of purchase without penalty, provided the contract is formed at a distance (such as online or via app). Raiz must inform you clearly of your cancellation rights before you complete your subscription. If Raiz fails to disclose these rights, you may have grounds to claim a refund even after 14 days.
What to do if Raiz refuses to cancel
If you submit a valid cancellation request and Raiz refuses to honour it, or if your account is not cancelled despite multiple requests, you have the right to escalate your complaint. Start by documenting all communication with Raiz-keep copies of emails, screenshots of your app settings, and dates of your cancellation requests. Send a formal written complaint to Raiz support, citing the Consumer Protection (Fair Trading) Act. If Raiz does not respond within 14 days or refuses to resolve the issue, lodge a complaint with the Monetary Authority of Singapore (MAS) through its online complaints portal. Tocancel recommends providing MAS with copies of all your documentation so they can investigate Raiz's conduct thoroughly.
Your right to clear cancellation information
Raiz is legally required to provide you with clear, accessible information about how to cancel. If the cancellation process is hidden, unclear, or deliberately difficult to access, this may breach consumer protection regulations. You have the right to demand that Raiz clearly explain cancellation steps. If the company fails to do so, document this failure and report it to MAS as a potential unfair trading practice.
Common mistakes when cancelling Raiz
Many customers cancel without fully understanding the process or timeline-but awareness of these pitfalls will protect your account and finances.
Cancelling too close to your renewal date
The most frequent mistake is cancelling within 24 hours of your renewal date. If your subscription renews before your cancellation request is processed, you will be charged for the next billing period. To avoid this, cancel at least one full day in advance. Check your next renewal date in your Raiz app or subscription settings before you cancel, and plan accordingly.
Confusing cancellation with account closure
Cancelling your subscription is not the same as closing your Raiz account. When you cancel, your subscription ends and no further charges occur, but your account remains open and your investments stay in place. If you want to fully close your account and withdraw all funds, you must cancel your subscription first, then contact Raiz support to request complete account closure. Tocancel advises doing both steps clearly to avoid confusion or accidental charges on a dormant account.
Assuming app deletion equals cancellation
Deleting the Raiz app from your phone does not cancel your subscription. Your subscription will continue, and you will be charged on your renewal date even if the app is no longer installed. You must follow the cancellation steps outlined above-either through your app store or Raiz's website-to stop charges. App deletion is not a valid cancellation method.
Forgetting to track your cancellation confirmation
After you cancel, save your confirmation email or take a screenshot of the on-screen confirmation. This proof is essential if a dispute arises. If Raiz charges you after cancellation, you can provide this confirmation as evidence that you cancelled in good faith. Without documentation, resolving the issue becomes more difficult and time-consuming.
After you cancel Raiz
Your account and investments continue to function after cancellation-understanding what happens next helps you manage your finances smoothly.
Your account remains active until the end of your billing cycle
After you cancel, you retain full access to your Raiz account and investments. You can still log in, view your portfolio, and monitor performance. Your round-up automation stops immediately, so no new contributions occur. Your account remains active until your current billing period ends, at which point your subscription officially terminates and no further charges apply.
Withdrawing your funds on your timeline
You can withdraw your invested funds at any time after cancelling-there is no waiting period. Log into your Raiz account, navigate to your portfolio, and initiate a withdrawal. Raiz transfers your funds to your linked bank account within 3 to 5 business days. You are not locked in or penalised for withdrawing after cancellation.
Staying informed about market impact on your portfolio
Your existing investments will continue to fluctuate with market conditions until you withdraw them. Do not withdraw in a panic if your portfolio value drops temporarily-market volatility is normal. If you want to discuss your investment strategy or understand your portfolio composition better, contact Raiz support for guidance. They can explain your holdings and help you decide whether to hold or withdraw based on your financial situation.
Comparison of cancellation options and alternatives
Understanding your options helps you choose the best path forward for your financial situation.
| Option | Best for | Timeline | Refund eligibility | Effort required |
|---|---|---|---|---|
| Cancel via app store (Apple/Google) | Most users; quickest method | Immediate | Only within 14 days of first purchase | Low (5 minutes) |
| Cancel via Raiz website directly | Users who prefer direct company contact | Immediate | Only within 14 days of first purchase | Low (10 minutes) |
| Pause instead of cancel | Users considering a temporary break | Varies by Raiz policy | N/A (subscription continues) | Low (5 minutes) |
| Contact Raiz support for assistance | Users experiencing issues with cancellation | 3-7 business days | Only within 14 days of first purchase | Medium (email correspondence) |
Considering a pause instead of full cancellation
If you are uncertain about cancelling permanently, check whether Raiz offers a pause or suspension option. This allows you to temporarily stop round-up contributions and subscription charges without closing your account. Pausing is often better than cancelling if you think you might return to the service later, as you avoid re-onboarding processes and preserve your investment history. Contact Raiz support to ask about pause options available for your subscription tier.
Exploring alternative investment apps before cancelling
Before you cancel, compare Raiz's fees and features with competing apps such as Tiger Invest, Endowus, or other Singapore-based fintech platforms. Some alternatives offer lower fees, more investment options, or better automation features. However, do not delay your cancellation to conduct this research-cancel first, then decide on your next investment platform. This approach protects you from being overcharged while you evaluate options.
Contact information and escalation paths
If you need further assistance with your cancellation or have not received a response from Raiz, Tocancel has compiled the key contact points and escalation channels below.
Raiz support channels
Raiz provides customer support through its in-app messaging system, email, and website support portal. Visit the Raiz app and tap "Help" or "Support" to access their contact options. You can also email Raiz's support team-check your account settings or the Raiz website for the current support email address specific to Singapore. Support requests typically receive a response within 2 to 5 business days. For faster resolution, use the in-app chat feature if available, as this often connects you to a team member more quickly.
Escalation to the monetary authority of singapore
If Raiz does not resolve your cancellation complaint within 14 days, or if you believe the company has violated consumer protection laws, file a complaint with the Monetary Authority of Singapore (MAS). The MAS oversees fintech services and enforces the Consumer Protection (Fair Trading) Act. You can submit your complaint online through the MAS website (www.mas.gov.sg) or in writing. Include all documentation: your subscription details, cancellation requests, confirmation emails, and any communication with Raiz. Tocancel advises being clear and factual in your complaint so the MAS can investigate thoroughly and take appropriate action if Raiz has breached regulations.
Support from tocancel
If you need guidance at any stage of your cancellation, Tocancel is here to help. Tocancel has helped thousands of consumers cancel unwanted subscriptions, resolve billing disputes, and understand their consumer rights. Visit Tocancel.com to access guides for Raiz and hundreds of other services, or reach out directly if your situation requires personalised advice. Tocancel's consumer-rights specialists are committed to empowering you to cancel with confidence.