Cancel Loqbox the easy way

Overview

Loqbox is a UK fintech product designed to help people build or improve their credit score by reporting positive payment behaviour to credit reference agencies and offering saving tools. Its services include Loqbox Save, Loqbox Grow and Loqbox Rent and a membership tier that unlocks additional features.

Key features

Loqbox Save allows users to set a 'save monthly payment' that Loqbox reports as repayments to credit reference agencies. Loqbox Grow is an interest-free credit account linked to a savings plan and includes monthly repayments reported to credit reference agencies. Some features can incur additional fees such as a £30 Flexi Unlock fee when unlocking savings to an existing bank account for certain users.

Company facts

Web - Members' Area (recommended)

1. Open your browser and go to your Loqbox Members' Area and log in to your account.
2. Go to Account then Membership and scroll to Manage Membership.
3. Select "Cancel my membership and close my Loqbox account" and choose a reason from the list.
4. Confirm your cancellation; note the on-screen confirmation and wait for the confirmation email.
5. Your membership remains active until the end of the current billing period; no further charges will be taken after cancellation.

iOS and Android app

1. Open the Loqbox app and log in with your credentials.
2. Tap Account or Profile, then Membership or Subscription.
3. Choose Manage Membership and follow the Cancel membership prompts.
4. Confirm and keep the in-app confirmation screen or email as proof.

Email / Help Center

1. Visit the Loqbox Help Center at Official cancellation page.
2. Use the contact options listed in the article to open a support request asking for guidance to cancel or to confirm you have followed the Members' Area flow.
3. Keep the support ticket reference or email confirmation as proof that your request was received.

Post (registered letter)

1. Write a signed letter stating your full name, email used for the account, and the explicit request: "I wish to cancel my Loqbox membership and close my Loqbox account" with today's date.
2. Send the letter by registered post to: Loqbox, 160 City Road, EC1V 2NX London, United Kingdom.
3. Retain the proof of posting and any reply that confirms the cancellation. Processing may take up to 14 days.

Cooling-off period (14 days)

Rule: You have a 14-day cooling-off period under the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 for contracts concluded online. If you cancel within 14 days from the date of signing up you are entitled to a full refund from Loqbox.

Required proof: date of registration and proof of cancellation request (Members' Area confirmation or email with timestamp).

Applicable law: Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013.

Price increase

Rule: If Loqbox changes the terms of the Member's Agreement in a way you do not accept, you can cancel your membership by notifying Loqbox in the Members' Area before the change takes effect. This is stated in Loqbox terms.

Required proof: copy of the notice of change from Loqbox (email or Members' Area notification) and your cancellation request screenshot or email.

Applicable law: Consumer Rights Act 2015 and contractual terms in the Loqbox Member's Agreement.

Moving abroad

Rule: If you permanently move out of the United Kingdom and Loqbox does not offer service in your new country you may cancel the service. Loqbox does not publish a formal international coverage map for cancellations.

Required proof: official address change or utility bill showing new overseas address, passport stamp, or signed declaration of relocation.

Applicable law: Consumer Rights Act 2015.

Death of the subscriber

Rule: Loqbox accepts account closure requests in the event of the death of a subscriber. Contact Member Support for specific steps.

Required proof: copy of the death certificate and proof of authority to act for the estate (executors or next of kin identification).

Applicable law: Consumer Rights Act 2015.

Legitimate grounds accepted by Loqbox

Rule: Loqbox allows cancellation for a variety of legitimate grounds listed in member terms, such as change of circumstances, inability to use the service, or disagreement with amended terms. The Help Center instructs members to cancel in the Members' Area or contact support.

Required proof: depends on the ground; typically account details and supporting documents (for example, correspondence showing the reason or proof of changed circumstances).

Applicable law: Consumer Rights Act 2015.

End of commitment

Rule: For yearly paid memberships cancellation will prevent renewal but the membership remains active until the paid 12-month period ends. There is no refund for unused time outside the 14-day cooling-off period.

Required proof: confirmation of cancellation through Members' Area or support email indicating change to non-renewal.

Applicable law: Terms in Loqbox Member's Agreement and Consumer Contracts Regulations 2013 for pre-paid services.

Before cancelling: negotiate

Retention offers: research found no published, standard retention discount or fixed retention offer. Loqbox documentation instructs members to cancel in the Members' Area and to contact Member Support for assistance. To request retention or alternative terms, use the Help Center contact options and state your request clearly. Reference the cancellation reason and ask if there is a retention offer or alternative tier available.

How to ask: open a support ticket via Loqbox Member Support, include your account email, your reason to cancel, and ask for any discount, pause or downgrade options. Keep the ticket ID as proof.

What cancelling saves you

Full Loqbox Membership costs are listed at: monthly £11.96 and annual £155.48. If you cancel a monthly plan you stop paying £11.96 per month. Yearly computations:

Cancel monthly membership annual saving calculation: £11.96 x 12 = £143.52 saved per year.

Cancel annual membership preventing next charge: £155.48 saved for the next 12-month period.

The cheapest realistic alternative among listed competitors is Monzo at £0 per month. Switching to Monzo would save at least £11.96 per month or £143.52 per year versus the Loqbox monthly price.

Key UK consumer law

Your cancellation and refund rights are supported by the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 which give a 14-day cooling-off period for most online contracts. The Consumer Rights Act 2015 requires services to be performed with reasonable care and skill and guards against unfair contract terms.

Financial regulators and escalation

Loqbox operates in personal finance and falls under the scrutiny of financial regulators and bodies such as the Financial Conduct Authority contextually and the Financial Ombudsman Service for disputes. If you have an unresolved complaint, raise it with Loqbox first, then escalate to the Financial Ombudsman Service if you remain unsatisfied. Citizens Advice can provide guidance and card issuers can be asked for chargeback or Section 75 where applicable.

Auto-renewal and unfair practices

The Competition and Markets Authority treats hard-to-cancel subscriptions and unclear auto-renewal terms as potential unfair practices. If you suspect Loqbox used unclear auto-renewal terms, keep evidence of the sign-up flow and contact Citizens Advice or the CMA for guidance.

Check access and final billing

After cancellation you will keep membership benefits until the end of the current billing period. For yearly plans you will keep access until the end of the paid 12-month term. Confirm your final billing date and any pending payments in Account > Billing in the Members' Area and keep your confirmation email.

Access to savings and Grow account

If you used Loqbox Save or Loqbox Grow be aware of unlocking rules. A Flexi Unlock fee of £30 applies when unlocking savings to an existing bank account unless you opened a partner bank account or earned a free Flexi Unlock after 26 weekly payments. To retrieve savings follow the instructions in your account and check Loqbox Save terms for the exact unlocking conditions.

Data and re-activation

If you close your Loqbox account your account data will be subject to Loqbox data retention policies in their Member's Agreement. To re-activate, sign up again; note that credit reporting history is controlled by credit reference agencies and past positive reporting may remain on your file per credit bureau rules.

Use this checklist to cancel cleanly and protect your rights.

• Log in to the Members' Area and follow Account > Membership > Manage Membership to cancel and keep the on-screen confirmation.
• Save the confirmation email and any support ticket ID as proof of cancellation.
• Check whether you are within the 14-day cooling-off period to request a full refund under the Consumer Contracts Regulations 2013.
• If you have Loqbox Save funds, check whether a £30 Flexi Unlock fee applies and follow the Save terms at Loqbox Save terms.
• If you paid annually, note the membership remains active until the paid 12 months end; cancel to prevent renewal.
• If you cannot resolve the cancellation, prepare to escalate to the Financial Ombudsman Service and keep all correspondence.