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Closing your Account

To request an account closure, please email our support desk directly at here.

Some important notes to consider:

Account Balances

Please ensure that you request to withdraw all remaining balances before requesting the closure of your account.

 

Accrued Interest Payments -

We recommend submitting your request to close your account following the payment of accrued interest to your balance; at the beginning of the new month.  

Difficulties will arise where accrued interest does not meet the minimum withdrawal threshold of 0.001 BTC. In this case any Savings Interest not claimed will be forfeited.

 

Accounts will be deactivated and marked for deletion.

In accordance to EU Law, we are required to retain records pertaining to financial records for a minimum of 5 years and up to a maximum of 7 years. All Personal Information stored with Magnr is done in a secure manner.

In line with EU and similar US Laws, we follow guidance in conjunction with the corresponding laws and acts:

  • The Data Protection Act 1998 (DPA) 
  • The Sarbanes-Oxley Act for US related firms 
  • Financial Services Authority (FSA) 
  • The Data Retention Regulations 2009

Following the required retention period, all sensitive and identifying data will be permanently deleted.

For a physical copy of your customer data in accordance to the UK 1998 Data Protection Act. Please send a request in writing along with an equivalent US$25 administration fee to our London office. You may be required to verify ownership of the account.

Customer data is protected with the highest level of security and will not be used for any other purpose than the agreed use of the Magnr Platform.

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