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Cancel Lendplus: The Right Way
How to cancel LendPlus and reclaim your financial freedom in south africa
What is LendPlus and why you might want to leave
LendPlus operates as a digital short-term lender in South Africa, offering fast online loans on a subscription-style platform. You apply online, receive approval quickly, and access funds to your account within hours. The service targets first-time and returning borrowers who need small personal loans with fixed fees, daily interest and monthly service charges over short repayment periods.
You may decide to cancel your LendPlus account for several reasons: you've paid off your loan and no longer need the service, the fees feel too high, you've found cheaper credit elsewhere, or you simply want to reduce your financial commitments. Whatever your reason, Stopee is here to guide you through the cancellation process with clarity and confidence.
How LendPlus works
LendPlus is a registered credit provider under South Africa's National Credit Act. The service markets itself on accessibility and speed, allowing you to manage your account online, view loan history, and handle repayments through a web portal. Loan amounts typically range from R500 to R4,000, designed for short-term needs rather than long-term borrowing.
Why cancellation matters
Cancelling your LendPlus account is a proactive step toward financial control. By removing access to future loans, you eliminate the temptation to borrow on impulse and reduce ongoing service fees. At Stopee, we believe you deserve clear instructions to make this happen without friction or delay.
Your consumer rights under south african law
South Africa's consumer protection framework gives you strong legal leverage when dealing with credit providers like LendPlus.
The national credit act cooling-off period
The National Credit Act grants you a statutory cooling-off right of 5 business days from the date you accept a credit agreement. During this window, you can cancel without penalty and receive a full refund of any money you've paid. You don't need to provide a reason. If you're within 5 business days of accepting your loan, act immediately: contact LendPlus in writing and request cancellation under the National Credit Act cooling-off clause.
Your right to disclosure and fair treatment
Before you sign any credit contract, you are entitled to receive a pre-agreement statement and a full cost quotation detailing all fees, interest rates and charges. If LendPlus failed to provide these documents, you may have grounds to challenge the loan. Additionally, you have the right to accurate account statements and prompt responses to your queries. If LendPlus breaches these obligations, escalate your complaint to the National Credit Regulator, South Africa's official credit industry watchdog.
How to cancel LendPlus step by step
Cancelling your LendPlus account is a straightforward process when you follow the correct pathway. We'll walk you through each method.
Cancel via the LendPlus website (recommended method)
The web portal is the official and most reliable way to cancel your account. This method leaves you with an immediate confirmation and a clear audit trail.
- Open your web browser and visit the LendPlus website.
- Log in to your account using your email address and password.
- If you've forgotten your password, click "Forgot Password" and follow the email recovery link.
- Keep your login credentials safe until cancellation is complete.
- Navigate to "Account Settings" or "My Account" from your dashboard menu.
- Look for the "Close Account" or "Cancel Membership" option.
- Some accounts may show this under "Preferences" or "Account Management".
- If you cannot locate the option, proceed to the next step.
- Click the cancellation option and review any warnings or outstanding balance notices.
- Confirm that you understand you will lose all access to the account and future loan eligibility.
- Follow the on-screen prompts to finalize the cancellation.
- LendPlus may ask you to confirm via email or security question.
- You may be logged out immediately upon completion.
- Take a screenshot of any confirmation message or receipt number for your records.
- Save or print the confirmation page as proof of cancellation.
Pro tip: Complete this step during business hours on a weekday. If you encounter any errors, contact LendPlus support immediately with your screenshot evidence.
If the website cancellation option is unavailable
If you cannot find the cancellation button on the website, you have an alternative route.
- Prepare a formal cancellation request in writing or email.
- State: "I request immediate cancellation of my LendPlus account effective today."
- Include your full name, email address and account number.
- Sign the letter (for postal submissions) or send from your registered email address (for email submissions).
- Send your request to one of LendPlus's official service addresses (see details below).
- Use registered mail or email with read receipt enabled to prove delivery.
- Retain your proof of sending for at least 30 days.
Warning: Do not assume the request was received. Follow up within 5 business days if you don't receive a written acknowledgment.
Mobile app users
LendPlus does not currently offer a dedicated cancellation pathway within its mobile app. If you signed up via a mobile app, you must complete cancellation through the website using the steps outlined above. Log in via a desktop or tablet browser, navigate to your account settings, and proceed with the web-based cancellation process.
What happens to your account after cancellation
Understanding the consequences of cancellation helps you prepare and avoid surprises.
Immediate access removal
Once you confirm cancellation on the website, LendPlus logs you out immediately and permanently revokes your access to the account portal. You cannot reverse this action online. All saved payment methods, loan history and account preferences are no longer visible to you through the app or web interface.
Data deletion and record retention
LendPlus deletes your personal account data including loan records, promotional coupons and stored payment information from its active user database. However, the company retains copies of your financial records for compliance with South African tax and credit regulation requirements, typically for 6 years. You cannot request permanent deletion of historical loan data.
Loan eligibility and reapplication
Once your account is cancelled, you are permanently ineligible to obtain future loans from LendPlus. The company maintains a record of your cancellation status. If you change your mind and want to borrow again in future, you must reapply as a new customer and undergo full verification. This reapplication process can take 24 to 48 hours.
Outstanding payments and loan settlement
If you have an active loan balance at the time of cancellation, you remain legally obligated to repay all outstanding amounts plus accrued interest. Cancellation does not forgive or pause your debt. You must continue making payments to LendPlus under the original loan agreement terms, even after your account is closed. Failure to pay may result in credit bureau reporting and collection action.
Refunds and cooling-off rights
Refund eligibility depends on when you request cancellation and whether you qualify for statutory protections.
Within the 5-business-day cooling-off window
If you cancel your LendPlus loan agreement within 5 business days of acceptance, you qualify for a full refund under the National Credit Act. You receive all fees, interest and service charges repaid in full. The process typically takes 5 to 10 business days for the funds to appear in your original bank account. You must submit your cancellation request in writing and reference the National Credit Act cooling-off period explicitly.
Outside the cooling-off period
After 5 business days have elapsed, LendPlus does not publish a general refund policy. Once you've accepted and used the loan, the company classifies the transaction as complete and the fees as earned. Early repayment of the remaining loan balance is usually permitted without penalty, but this does not trigger a refund of initiation fees or service charges already paid.
Pro tip: If you believe you have a valid refund claim due to unfair pricing, misrepresentation or non-disclosure of fees, submit a formal dispute to LendPlus support with supporting evidence. Reference the National Credit Act Section 78 (unfair credit practices). If LendPlus refuses, escalate to the National Credit Regulator.
No refund policy scenario
LendPlus does not publish a detailed refund policy in its public Help Center or Terms and Conditions. This is common for credit providers but does not eliminate your rights. If you believe you've been treated unfairly, Stopee recommends documenting everything and seeking guidance from a consumer advocacy service.
LendPlus pricing and fees explained
Understanding what you're paying helps you decide whether cancellation is the right financial move.
Fee structure by borrower type
| Borrower type | Loan range | Initiation fee | Daily interest | Service fee | Repayment term |
|---|---|---|---|---|---|
| First-time (≤ R1,300) | R500 - R1,300 | 15% of loan amount | ~0.17% per day (~60% per annum) | ~R60/month (incl. VAT) | 65 - 90 days |
| First-time (> R1,300) | R1,301 - R4,000 | R165 + 10% of amount above R1,000 | ~0.17% per day (~60% per annum) | ~R60/month (incl. VAT) | 65 - 90 days |
| Returning borrower | R500 - R4,000 | Same sliding scale as above | ~0.10% per day (~36% per annum) | ~R60/month (incl. VAT) | 65 - 90 days |
Real-world repayment example
Let's say you're a first-time borrower taking a R2,000 loan. Your initiation fee is R165 + 10% of (R2,000 − R1,000) = R165 + R100 = R265. Over 90 days at 0.17% daily interest, interest accrues to approximately R306. Add R60/month service fee (R180 for 3 months), and your total repayable amount reaches approximately R2,751. That's a cost of R751 on a R2,000 loan.
As a returning borrower, the same R2,000 loan costs less: daily interest drops to 0.10%, reducing total interest to approximately R180. Your total repayable becomes approximately R2,605, a saving of around R146. These figures highlight why cancelling a service you no longer need is financially prudent.
Common mistakes to avoid when cancelling
We understand that cancellation can feel daunting, especially if you're unsure of the correct steps. Let's highlight the pitfalls so you don't fall into them.
Mistake 1: confusing app uninstall with account cancellation
Deleting the LendPlus app from your phone does not cancel your account. Your account remains active and you continue to incur service fees each month. You must follow the official cancellation steps outlined above. Stopee has seen countless consumers make this error and then discover months later that they were still being charged.
Mistake 2: missing the 5-business-day cooling-off window
If you want a full refund, act within 5 business days of accepting the loan. After this window closes, your right to a refund expires. Count carefully: weekends and public holidays do not count as business days. Submit your cancellation request by email or registered mail with a time-stamped receipt to prove you submitted within the window.
Mistake 3: not checking for outstanding loan balances
Cancelling your account does not forgive unpaid loan balances. If you have an active loan with LendPlus, you must repay it in full before or after cancellation. Defaulting on this debt damages your credit score and may trigger legal collection action. Verify your balance in your account settings before you cancel, and ensure you have a repayment plan in place if needed.
Mistake 4: failing to retain proof of cancellation
Screenshot your cancellation confirmation. Save the confirmation email. Store these documents for at least 12 months. If LendPlus later claims your account is still active or attempts to charge you, your proof is essential for disputing the claim with your bank or the credit regulator.
Mistake 5: not responding to follow-up communications
After you submit a cancellation request via mail or email, LendPlus may send you a confirmation letter or email within 5 business days. Read it carefully. If the company states that cancellation could not be processed, reply immediately with clarification. Silence can be interpreted as acceptance or delay.
Checklist: before, during and after cancellation
Use this checklist to stay on track and ensure nothing is overlooked.
| Stage | Action | Completed? |
|---|---|---|
| Before cancellation | Log in and verify your account balance and loan status | ☐ |
| Before cancellation | Download or screenshot your account statement and fee summary | ☐ |
| Before cancellation | Check if you fall within the 5-business-day cooling-off window | ☐ |
| During cancellation | Navigate to Account Settings and locate the Cancel Account button | ☐ |
| During cancellation | Follow all on-screen prompts and confirm your identity | ☐ |
| During cancellation | Take a screenshot of the cancellation confirmation message | ☐ |
| After cancellation | Verify you are logged out and cannot access your account | ☐ |
| After cancellation | Save the cancellation confirmation for your records | ☐ |
| After cancellation | Monitor your bank account for any unexpected LendPlus charges in the next 30 days | ☐ |
Contact LendPlus for support or escalation
If you need to reach LendPlus directly during or after cancellation, use these official contact addresses.
Primary service address (Cape town)
LendPlus service notices and formal cancellation requests can be sent to their Cape Town office. This is the address listed in their Terms and Conditions as the official service address for legal documents:
LendPlus, Cape Town, South Africa
Use registered mail or email with read receipt to ensure your cancellation request is logged and acknowledged.
Alternative head office address (Germiston)
If you do not receive a response from the Cape Town address within 10 business days, you may escalate to the head office in Germiston. This address is listed in LendPlus's PAIA (Promotion of Access to Information Act) manual:
LendPlus Head Office, Germiston, South Africa
Escalation to the national credit regulator
If LendPlus refuses to honour your cancellation request or denies you a refund you believe you're entitled to, file a formal complaint with the National Credit Regulator (NCR). The NCR is South Africa's independent authority responsible for credit industry oversight. You can lodge a complaint online at www.ncr.org.za or in writing. The NCR investigates disputes at no cost to you and can compel LendPlus to refund unfair fees or reverse unlawful charges.
Why stopee exists and how we can help you further
Cancelling a financial service should be straightforward, but many providers deliberately make the process confusing. Stopee was founded to change this. We provide clear, step-by-step guidance for cancelling subscriptions and managing your consumer rights across South Africa and beyond.
If you encounter resistance from LendPlus or need advice on your specific situation, Stopee has helped thousands of consumers cancel unwanted services, recover refunds and assert their rights under South African consumer law. Visit Stopee at stopee.com to explore our full range of cancellation guides, consumer rights resources, and support tools. Whether you're dealing with LendPlus or any other subscription service, Stopee is your trusted partner in reclaiming control over your finances.
Your financial freedom begins with saying no to services that no longer serve you. Take action today.