Manage Openpay

How to cancel your openpay account and settle your balance

Understanding openpay and why you might cancel

Openpay was a buy now, pay later provider that offered flexible instalment plans for larger purchases, typically ranging from 2 to 24 months. The service positioned itself across automotive, healthcare, home improvement and retail sectors, allowing transactions up to A$20,000 depending on merchant approval and your credit assessment. However, Openpay entered liquidation and no longer accepts new sign-ups, which means if you hold an existing account, you need to understand your options for closing it or settling remaining balances.

This guide will help you navigate cancellation, protect your rights under Australian Consumer Law, and avoid the common pitfalls that have caught other Openpay customers during the company's restructuring.

Why customers cancel openpay accounts

Most people cancel because they have finished paying their plan, want to avoid ongoing account activity during liquidation, or face billing confusion caused by gaps between merchant refunds and plan reconciliation. Others cancel after disputes over returned items or unexpected fees that accumulated after the business ceased normal operations. If you are unsure whether to keep or close your account, Stopee recommends reviewing your current balance and outstanding payment schedule first.

The current status of openpay

Openpay is in liquidation, meaning the company is no longer trading normally. You cannot open new accounts, but existing customers can still manage their plans via the Openpay app or website until all obligations are settled. This status creates urgency: you should act now to confirm your balance, request closure documentation, and ensure no unexpected charges continue. Stopee advises taking control of this process before account records become harder to access.

Your consumer rights under australian consumer law

Australian Consumer Law protects you in several ways when dealing with credit providers and buy now, pay later services, even during liquidation.

Statutory protections that apply to your openpay account

Under the Australian Consumer Law (Part 3-2 of the Competition and Consumer Act 2010), you have the right to clear information about your plan terms, fees, and remaining balance. Openpay must provide accurate statements and respond to disputes within a reasonable timeframe. If the company charged you unauthorised fees or failed to apply merchant refunds correctly, you can lodge a dispute and potentially claim a refund.

Additionally, if you purchased goods or services through a merchant using Openpay and those goods were faulty or not as described, your rights under consumer guarantee laws remain intact regardless of how you financed the purchase. This means you can pursue the merchant for a refund or replacement, and your Openpay instalment plan should be adjusted accordingly.

Cooling-off rights and early termination

Cooling-off rights for unsolicited purchases (those made online or at distance) typically give you 10 business days to change your mind. However, these rights may not apply to all Openpay transactions, particularly if you initiated the purchase directly. Check your original contract terms to confirm whether cooling-off applies to your specific plan.

Early termination of an instalment plan is not automatically free. Openpay's terms may allow the company to calculate remaining principal and applicable fees if you request closure before the final scheduled payment. Stopee recommends requesting a final settlement figure in writing before submitting your cancellation, so you understand exactly what you owe.

Methods to cancel your openpay account

You have three primary channels to cancel: online via the app or website, by phone, or by postal mail to the company's registered office.

Online cancellation through the openpay app or website

The quickest route for most customers is to cancel directly within your Openpay account, provided the system allows it during liquidation.

1. Log in to your Openpay account on the website or open the Openpay app on your mobile device.
   • Use your registered email address and password.
   • If you have forgotten your password, use the "Forgot Password" link to reset it.
2. Navigate to your account settings or profile menu.
   • Look for options labelled "Account Settings", "My Account", or "Profile".
   • Some versions of the app place this in a hamburger menu (three horizontal lines) at the top or bottom of the screen.
3. Search for a "Close Account", "Cancel Account", or "Request Closure" option.
   • This option may be under a "Security" or "Account Management" submenu.
   • If you cannot locate it, proceed to phone or postal methods instead.
4. Review your current balance and any outstanding payment schedule.
   • Take a screenshot or print the balance summary for your records.
   • Note the final payment date and amount due.
5. Confirm your cancellation request.
   • The system should display a confirmation message with a reference number.
   • Save or screenshot this confirmation.
6. Verify your email inbox for a cancellation confirmation email within 24 hours.
   • If you do not receive one, proceed to contact Openpay by phone to confirm the request was received.

Pro tip: If the online closure option is unavailable (common during liquidation), do not assume your account is closed. Move to the phone or postal method to ensure your cancellation is formally processed.

Phone cancellation

Calling Openpay directly is faster than post and provides immediate verbal confirmation of your request.

1. Call Openpay customer support on 1300 168 359.
   • This number is for existing account holders.
   • Calls are typically answered during business hours, Monday to Friday.
2. Provide your account number or the email address associated with your Openpay account.
   • Have this information ready before you call to speed up verification.
3. Clearly state that you wish to close your account and cancel any future billing.
   • Explain whether you have an outstanding balance or whether all payments are current.
4. Ask the support officer for your final settlement figure (if you have an outstanding balance) or confirmation of full payment status.
   • Request this in writing via email to follow up the call.
5. Request a confirmation reference number and ask when your account closure will be effective.
   • Stopee advises asking specifically: "When will my account be completely closed and will I receive written confirmation?"
6. Send a follow-up email after the call summarising the details discussed.
   • Include the reference number and date of your call.
   • This creates a paper trail if disputes arise later.

Warning: Phone support may experience long wait times during liquidation. If you cannot reach anyone after 15 minutes, note the time and try again later, or proceed to the postal method.

Postal cancellation to the registered office

Written requests via post create the strongest legal record and are recommended if phone support is unavailable or unresponsive.

1. Prepare a formal written cancellation letter.
   • Address it to Openpay at their registered office (details provided at the end of this guide).
   • State your full name, account number, and email address associated with your account.
   • Write: "I hereby request the cancellation and closure of my Openpay account, effective immediately."
   • Ask for confirmation of your final balance and when closure will be complete.
2. Include copies (not originals) of any supporting documents.
   • Attach copies of your last account statement, recent payment confirmation, and any dispute correspondence.
   • Do not send original documents; liquidation processes can delay mail handling.
3. Send your letter via Australia Post with signature confirmation.
   • Use Australia Post's "Registered Mail" or "Signature on Delivery" service.
   • This proves the company received your request on a specific date.
4. Keep a copy of your letter and the Australia Post receipt.
   • Store these together in a secure location or take digital copies.
5. Follow up with an email to info@openpay.com.au (or the current support email, as this may change) referencing your postal request and its date.
   • This adds a second point of contact and creates an email trail.
6. Wait 10 to 14 business days for a written response.
   • If you receive no response after 14 days, contact the Australian Financial Complaints Authority (AFCA) or Stopee for escalation advice.

Understanding refunds and settling your balance

Refund timelines and eligibility depend on whether you have an outstanding balance, whether you are owed money due to returned items, and whether Openpay has already processed final payments.

If you are owed a refund

You may be owed a refund if you returned merchandise to a merchant but Openpay has not yet reversed the charge, or if you overpaid your plan through a merchant dispute resolution.

• Request a written statement of your account balance and transaction history from Openpay within 7 days of your cancellation request.
• If Openpay confirms you are owed a refund, ask whether it will be paid to your original payment method (credit card or bank account) or as a direct transfer.
• Refunds typically process within 5 to 10 business days after Openpay processes your request, but delays are common during liquidation.
• If your refund does not arrive after 14 business days, contact Stopee or lodge a complaint with the Australian Financial Complaints Authority (AFCA).

If you owe an outstanding balance

Your cancellation does not eliminate outstanding debt. You must settle any remaining balance before your account fully closes.

• Request a final settlement figure from Openpay in writing (via phone, email, or post).
• Confirm whether this figure includes any early termination fees, default fees, or final account fees.
• Ask whether you can pay the balance in full immediately or whether you must continue the scheduled instalment plan.
• If Openpay allows a lump-sum settlement, this is often the fastest path to account closure.
• Pay via the method specified by Openpay (typically bank transfer or card) and keep your payment receipt as proof.
• Once payment is processed, request written confirmation that your account is now closed and all obligations are satisfied.

Pricing and fee structure during cancellation

Understanding what you might be charged when you cancel helps you avoid surprises and plan your final payment.

Stopee strongly recommends requesting an itemised statement showing all fees applied to your account in the past 12 months. If you spot unauthorised or unexplained charges, raise a dispute immediately with Openpay and escalate to AFCA if needed.

What happens after you cancel

Account closure is not instant; you need to monitor what happens in the weeks following your cancellation request to ensure everything is finalised correctly.

Immediate steps to take

Cancellation creates uncertainty, so take control of the process right away.

• Save copies of your cancellation confirmation (reference number, date, and confirmation email) to a dedicated folder on your computer or cloud storage.
• Check your bank account and credit card statements weekly for any unexpected Openpay charges in the 30 days after cancellation.
• If charges appear after your cancellation request, note the date and amount, then contact Openpay immediately to dispute them as unauthorised.
• Monitor your email inbox for any communication from Openpay regarding account status, final balance, or closure confirmation.
• Do not assume silence means closure; follow up after 10 business days if you have not received written confirmation.

Monitoring your credit file

Your Openpay account may have been reported to credit reference agencies. Cancellation does not automatically remove your credit history, but it should prevent future negative marks.

• Request a free copy of your credit report from Equifax, Experian, or TransUnion (whichever agency Openpay reported to).
• Verify that your Openpay account shows as "closed" or "settled" within 30 to 60 days of your cancellation.
• If the account still shows as active or if you spot errors, contact the credit agency in writing to request a correction.
• Stopee advises keeping evidence of your cancellation request to support any disputes with credit agencies.

Common mistakes when cancelling openpay

Cancellation can feel stressful, especially during liquidation, but avoiding these pitfalls will protect your rights and speed up closure.

Assuming online silence means closure

Many customers cancel online, see no confirmation message, and assume the account is closed. Weeks later, they discover charges still appearing or the account remains open in the system.

• Never rely on a single cancellation attempt, especially online during liquidation.
• Always follow up with a phone call or postal request to confirm your online cancellation was received.
• Ask for a specific date when closure will be effective.

Not documenting fees or billing disputes before cancelling

Customers often cancel without understanding what they owe or whether they have been overcharged. Once cancellation is processed, disputing historical fees becomes much harder.

• Print or screenshot your full account statement, transaction history, and fee breakdown before you submit a cancellation request.
• If you spot suspicious charges, dispute them with Openpay before you cancel, not after.
• Ask Openpay in writing to confirm they have applied all merchant refunds correctly before you agree to close.

Failing to request written confirmation

Verbal confirmations or automated email receipts are not enough. If disputes arise later, you need proof in writing that you requested cancellation on a specific date.

• Always ask for a written confirmation email or postal letter confirming your cancellation request and the date it was received.
• If Openpay refuses, send your own letter via registered post summarising the conversation and requesting written acknowledgment.
• Stopee recommends treating cancellation as a formal legal request, not a casual customer service inquiry.

Ignoring ongoing charges after cancellation

Some customers assume that if charges continue after cancellation, the company made an honest mistake and will sort it out. During liquidation, this assumption is risky.

• If you see any charge on your bank or credit card statement more than 5 business days after your cancellation request, treat it as urgent.
• Immediately contact Openpay by phone and email to dispute the charge and request a reversal.
• If Openpay does not reverse it within 7 days, contact your bank or credit card issuer and dispute the transaction as unauthorised.
• Lodge a complaint with AFCA if Openpay refuses to address the overcharge.

Escalation: what to do if openpay refuses to help

If Openpay does not respond to your cancellation request, disputes your balance, or continues charging you after cancellation, you have rights.

Formal complaint to openpay

Before escalating outside the company, lodge a formal written complaint detailing your issue, the dates you contacted them, and what resolution you are seeking.

• Send the complaint to info@openpay.com.au or to the registered office address (see below) via registered post.
• Give Openpay 10 business days to respond in writing.
• Keep a copy of your complaint and the Australia Post receipt as proof you sent it.

Escalation to the australian financial complaints authority (AFCA)

If Openpay does not respond within 10 business days or if you are unhappy with their response, you can lodge a complaint with AFCA, the free national dispute resolution body for financial services.

• Visit afca.org.au or call 1800 931 678 to lodge a complaint.
• Provide AFCA with copies of your cancellation request, all correspondence with Openpay, your account statements, and proof of any charges you dispute.
• AFCA can order Openpay to refund unauthorised charges, waive fees, or reverse incorrect account status entries.
• Complaints to AFCA are free and typically resolved within 21 days.

Chargeback or reversal through your bank

If Openpay continues to charge you after cancellation and refuses to refund, you can dispute the charges with your bank or credit card issuer.

• Contact your bank or credit card provider and report the charge as unauthorised or disputed.
• Provide them with copies of your cancellation request, confirmation of closure, and evidence of the unauthorised charges.
• Your bank can reverse the transaction (called a chargeback) and investigate on your behalf.
• This process typically takes 5 to 10 business days.

Checklist: before and after cancellation

Use this checklist to ensure you have covered every step and protected your rights.

When should you keep or cancel openpay?

Not every Openpay customer should cancel immediately. Your decision depends on your specific situation.

Reasons to cancel now

• You have fully paid your plan and the account is now redundant.
• You have resolved a merchant dispute and have no further plans to use Openpay.
• You are concerned about ongoing fees or account activity during liquidation.
• You want to close the account and avoid it appearing as an active credit product on your record.
• You have experienced billing errors or disputes that remain unresolved.

Reasons to keep the account open (for now)

• You have an outstanding balance still being repaid under a schedule; keep the account active until the final payment is made, then cancel.
• A merchant refund is pending and you want to ensure it is reconciled to your Openpay plan before closure.
• You are working with Openpay or AFCA to resolve a dispute; closing prematurely could complicate your case.

Most customers benefit from cancelling once their balance is settled or fully paid. Stopee recommends acting sooner rather than later while Openpay still has staff to process closures during liquidation.

Contacting openpay and the registered office

Use these contact details when you submit your cancellation request or follow-up correspondence.

Primary contact methods

• Phone: 1300 168 359 (business hours, Monday to Friday)
• Email: info@openpay.com.au
• Website: www.openpay.com.au (account management via login)

Postal address for formal cancellation requests

Send written cancellation requests and formal complaints via registered post to:

Openpay Group Limited (in liquidation)
Level 5, 227 Elizabeth Street
Sydney NSW 2000
Australia

Always use registered post and keep the Australia Post tracking receipt as proof of delivery. Allow 10 to 14 business days for a response.

Your next steps

Cancelling Openpay does not have to be complicated. By following the steps in this guide, documenting your requests, and escalating to AFCA if needed, you protect yourself and ensure closure is finalised correctly.

If you face obstacles, do not give up. Stopee has helped thousands of consumers cancel their buy now, pay later accounts and resolve billing disputes. Whether you are dealing with unclear balances, ongoing fees, or unresponsive customer support, Stopee empowers you to understand your rights and take decisive action. Start with the method that works best for you-online, phone, or post-document everything, and follow up relentlessly until you receive written confirmation that your account is closed.