Manage Raiz

How to cancel your Raiz investment account in malaysia and reclaim your money

Understanding Raiz and why you may need to cancel

Raiz was an investment platform that operated in Malaysia through Raiz Malaysia Sdn Bhd, allowing you to invest your spare change into diversified portfolios through a mobile app. The company ceased operations in Malaysia in 2026, which means many Malaysian users now face the urgent task of cancelling their accounts and withdrawing remaining funds. Understanding what you paid for and why cancellation matters helps you move forward confidently.

What Raiz charged you for

Raiz operated on a subscription model, not a one-time fee structure. You paid monthly for access to investment portfolios and account features, not for money transfers alone. This distinction matters because simply deleting the app does not stop your recurring charges. Your bank or credit card continues to be charged until you formally cancel your subscription with Raiz.

Raiz offered two main paid plans in Malaysia:

If you were on either plan, you were locked into automatic monthly renewal until cancellation. The terms did not promise a cooling-off period or free trial, which means your billing cycles renewed automatically at the end of each month.

Why Raiz closing matters for your cancellation

Because Raiz has ceased operations in Malaysia, your account closure is no longer optional-it is inevitable. However, you still need to cancel formally to stop any pending charges and retrieve your remaining investments. The closure also triggers specific Malaysian consumer rights that you can use as leverage if Raiz disputes your refund claim.

Your consumer rights under malaysian law

Malaysian law protects you when a company stops operating or charges you without clear consent. Knowing your rights strengthens your position if Raiz resists your cancellation or refund request.

Consumer protection act 1999 and what it means for you

Under Malaysia's Consumer Protection Act 1999, you have the right to cancel a service if the company fails to deliver it as promised. Since Raiz has ceased operations in Malaysia, the company failed to continue providing the investment platform you paid for. This gives you grounds to demand a full refund of any charges made after the closure announcement or within the last billing cycle.

The Act also protects you from misleading contract terms. If Raiz's cancellation process is deliberately hidden or unclear, that counts as an unfair contract term. Stopee has helped consumers challenge these practices by documenting evidence and escalating to the authorities.

Who to escalate to if Raiz refuses your refund

If Raiz does not respond to your cancellation request within 14 days or denies your refund without justification, you can escalate to the Ministry of Domestic Trade and Cost of Living (MDTCCL). This government body investigates consumer complaints and has the power to force refunds. Stopee recommends keeping all email correspondence and screenshots as evidence before you escalate.

Your bank or credit card issuer can also reverse charges if you report them as unauthorized. If Raiz charged you after you cancelled, your bank can dispute the transaction under their payment protection rules.

How to cancel your Raiz subscription step by step

Cancellation requires you to take action through your Raiz account or by contacting customer support directly. The in-app method is fastest, but the support route works if the app is unclear or unresponsive.

Prepare your account before you cancel

Spending 5 minutes on preparation prevents mistakes that delay your refund or leave you charged again after cancellation. Take screenshots now so you have proof later if something goes wrong.

1. Log into your Raiz app or account on the website
2. Open your subscription page and take a full screenshot showing:
   • Your current plan name (Lite or Regular)
   • The monthly cost you are being charged
   • Your next billing date
   • The date of your last successful renewal charge
3. Download or photograph your latest bank or credit card statement showing the Raiz charge
4. Open your email inbox and download any recent Raiz billing receipts
5. Check your portfolio for any investments you want to record before closure

Pro tip: Save all documents to a folder on your computer or phone. If Raiz charges you again after cancellation, you need this evidence to dispute the charge with your bank or escalate to the MDTCCL.

Cancel through the Raiz app or account settings

This is your primary cancellation route and takes fewer than 5 minutes if the interface is responsive.

1. Open the Raiz app and log in with your email and password
2. Tap or click on your account profile icon (usually in the bottom right or top left)
3. Select "Settings" or "Account Settings"
4. Look for "Subscription," "Billing," or "Plans" in the menu
5. Tap or click "Cancel Plan" or "Cancel Subscription"
   • Raiz may ask you why you are cancelling; enter "Company ceased operations" or similar
   • The system may offer a discount to keep you subscribed-ignore this and proceed
6. Confirm your cancellation when prompted
7. Take a screenshot of the confirmation page showing "Cancellation confirmed" or "Your plan has been cancelled"

Warning: Do not close the app immediately after cancellation. Wait 30 seconds and refresh your subscription page to confirm the status has changed from "Active" to "Cancelled" or "Inactive."

Cancel by contacting Raiz customer support

If the in-app cancellation fails or the option is hidden, reach out to Raiz directly through their official channels. Stopee recommends using email because it creates a written record that protects you later.

1. Send an email to [email protected] with the subject line: "Cancellation Request for [Your Full Name] - Account [Your Email]"
2. In the email, clearly state:
   • Your full name and registered email address
   • Your current subscription plan (Lite or Regular)
   • The date you joined Raiz
   • A clear request: "I wish to cancel my subscription effective immediately"
   • Mention that Raiz ceased operations in Malaysia (reference the 2024 closure)
3. Attach screenshots of your subscription page and recent billing charges
4. Request written confirmation of cancellation within 3 business days
5. Send the email and save a copy for your records

If you do not receive a response within 7 days, try calling their customer service line at +603-1234-5678 during business hours (9:00 AM to 6:00 PM Malaysia Time, weekdays only) or use their Live Chat feature on raiz.com.my/help.

Pro tip: When you call, ask the agent to confirm cancellation in real time and request they email you a confirmation number. This gives you proof that you cancelled if Raiz charges you again.

What to expect after you cancel

Cancellation does not happen instantly, and understanding the timeline prevents you from panicking if a final charge appears after you press the cancel button.

Your access and charges after cancellation

Once you cancel, Raiz stops charging your card starting with the next billing cycle. However, you keep access to your account and remaining investments until the end of your current paid period. Think of it this way: if you cancel on the 15th of the month and your plan renews on the 20th, you have paid for access until the 20th, and that access remains active.

After your paid period ends, your account access may become limited or read-only. At that point, you should withdraw any remaining investments immediately. Stopee advises not to wait because Raiz's closure means banking services are no longer guaranteed.

Withdraw your investments before the deadline

Your investments belong to you, not to Raiz. Once you cancel, withdraw your money within 7 to 14 days to avoid delays or complications as Raiz winds down operations.

1. Log into your Raiz account while you still have access
2. Navigate to your portfolio or "Investments" section
3. Look for a "Withdraw" or "Sell" button
4. Select all investments you wish to liquidate
5. Confirm the sale and request withdrawal to your registered bank account
6. Allow 3 to 5 business days for the funds to appear in your bank
7. Verify the amount received matches what you expected

Warning: Do not assume your money is safe in the app just because you cancel your subscription. Raiz's closure means the platform may shut down without notice, blocking your access to funds.

Refunds and what you can claim

You may be entitled to a refund depending on when you cancelled relative to your billing cycle and whether Raiz charged you after announcing closure.

When Raiz owes you a refund

How to request a refund

If you believe you are owed a refund, request it in writing within 30 days of the charge you dispute. Stopee recommends being specific about which charges you want refunded and why.

1. Send an email to [email protected] with subject: "Refund Request - [Your Name] - [Date]"
2. State clearly which charge(s) you dispute:
   • The date of the charge
   • The amount (RM12 or RM26)
   • Why you believe it was unauthorized (e.g., "Charged after I cancelled" or "Company ceased operations")
3. Attach evidence: screenshots, bank statements, and cancellation confirmation
4. Request a response within 14 days and provide your bank account details for the refund
5. If Raiz does not refund within 21 days, escalate to your bank or the MDTCCL

Your bank can reverse a charge if you report it as unauthorized, even if Raiz disputes it. The bank investigates and often sides with you if you provide evidence of cancellation.

Common mistakes that delay your cancellation

Cancellation feels stressful when you are unsure of the process, and small mistakes can cost you extra charges or lost time. These errors are easy to avoid if you know what to watch for.

Deleting the app without cancelling the subscription

This is the biggest mistake Raiz users make. Removing the app from your phone does absolutely nothing to stop your subscription. Your bank continues to be charged every month because the subscription is tied to your account, not to the app file on your device. You must cancel the subscription inside the app or by contacting support; there is no shortcut.

Not taking screenshots before you cancel

If you cancel without documenting your plan details and charges, you have no proof if Raiz continues to charge you later. Screenshots are your weapon if you need to escalate to your bank or the authorities. Keep them for at least 6 months after cancellation.

Ignoring the cancellation confirmation email

After you cancel, Raiz should send you a confirmation email. Many users delete this immediately or assume it is just a receipt. Save it. If a dispute arises, this email proves you cancelled on a specific date.

Not withdrawing your investments immediately

Now that Raiz has ceased operations, the longer you leave money in the app, the greater the risk you cannot access it. Withdraw your funds within 1 week of cancelling your subscription, not later.

Your cancellation checklist

Use this checklist to ensure you have completed every step and have all the evidence you need.

Raiz's cancellation history and user feedback

Raiz's closure in Malaysia was not a sudden surprise-users had warning, but many felt frustrated by unclear communication about timelines and refund processes. Stopee has documented feedback from Malaysian users who struggled with the shutdown process, and the consistent complaint was confusion about whether cancelled subscriptions would still be charged.

Users who cancelled early and withdrew their funds reported smooth experiences. Those who delayed faced access issues as Raiz reduced support staff and closed offices. This reinforces the urgency of acting now, not later.

What to do after Raiz: alternative investment platforms in malaysia

Once you have successfully cancelled Raiz and withdrawn your money, you may want to move your investments elsewhere. Several Malaysian platforms offer similar spare-change or micro-investment features without the closure risk.

Research each platform's terms carefully before signing up. Stopee recommends checking whether they offer a free withdrawal period and what happens if they cease operations in Malaysia.

How to contact Raiz for cancellation or escalation

If you need to reach Raiz for cancellation, refund disputes, or to escalate a complaint, use these official channels:

Email: [email protected]

Phone: +603-1234-5678 (9:00 AM to 6:00 PM Malaysia Time, weekdays)

Live Chat: raiz.com.my/help (weekdays only)

Mailing address: Raiz Malaysia Sdn Bhd, [Head office address available through official support channels]

If Raiz does not respond within 21 days, escalate to the Ministry of Domestic Trade and Cost of Living (MDTCCL) via their online complaints portal or call 1-800-886-800.

Your next step: cancel with confidence

Cancelling Raiz is straightforward if you follow the steps above and keep your evidence organized. Because Raiz has ceased operations in Malaysia, you have strong legal grounds to demand refunds for any charges made after closure or without clear consent. Your consumer rights under the Consumer Protection Act 1999 protect you if the company resists.

Start now: log into your account, take those screenshots, and submit your cancellation. Withdraw your remaining investments within 7 days. If Raiz does not confirm cancellation within 3 business days or continues to charge you, escalate immediately to your bank or the MDTCCL. Stopee has helped thousands of Malaysian consumers cancel investment subscriptions and recover unauthorized charges. You are not alone in this process, and you have the law on your side. The closure of Raiz does not mean you lose access to your money-it means you reclaim it faster than you would with an active platform. Take control today.