Cancel Very Pay the easy way

Overview

Very Pay is a credit and payments product operating as a revolving credit facility and instalment payment provider. It offers standard credit, Pay in 3 (Take 3), Buy Now Pay Later and fixed instalment plans. Customers can use the account to spread purchases and to access short-term credit options.

How it works

Very Pay assigns a credit limit based on creditworthiness (examples used in their terms reference limits such as 1,200 in representative examples). Minimum payment rules apply: the minimum monthly payment is 5 or 6% of the balance, whichever is greater.

Company facts

Web / App (fastest)

1. Sign into your Very Pay account using the website or app.
2. Go to the Payments tab and cancel any Direct Debit or stored card linked to the account.
3. Find account settings or contact support via the help section and request account closure in writing within the app or website.
4. Take screenshots of confirmation screens and any reference numbers.
5. If a Direct Debit is active, cancel the Direct Debit both in your Very account and with your bank.

iOS / Android

1. Open the Very Pay mobile app and sign in.
2. Open Payments or Account settings.
3. Cancel Direct Debit or saved payment method.
4. Use the in-app contact form to request account closure and save the confirmation or screenshots.

Phone

1. Call 0800 11 00 00 and state you want to terminate your credit agreement or close your Very Pay account.
2. Ask for the reference number and the name of the agent handling your call.
3. Follow up with a short confirmation email or registered letter for a written record.

Email

1. Send an email to [email protected] with your account details, date of birth used for ID, and a clear request to close the account.
2. Keep a copy of the sent email and any reply as proof.

Post

1. Write a signed letter stating your full name, account number, date of birth used on account and the explicit request to terminate the agreement.
2. Send it by Recorded Delivery or Special Delivery to Very Pay, Speke Road, L70 1AB Liverpool, United Kingdom.
3. Keep the delivery receipt as proof.

Moving address

Rule: You may close the account at any time. Provide proof of new address if you want correspondence redirected or if address change affects identity verification.

Required documents: recent utility bill or tenancy agreement showing new address, photo ID. Applicable law: Consumer Credit Act 1974 (right to close credit account).

Price increase

Rule: If Very increases charges or interest in a way that changes your contract materially you can treat this as a contract variation and give notice to withdraw or close the account if the change is not acceptable.

Required documents: copy of the notice from Very showing the price increase and the effective date; your written objection and request to close the account. Applicable law: Consumer Rights Act 2015 and Consumer Credit Act 1974 principles on variations.

Death of the account holder

Rule: The estate is responsible for amounts owed. Executors should contact Very Pay and provide documentation to agree repayment or closure.

Required documents: death certificate and proof of executorship or probate. Applicable law: Consumer Credit Act 1974 (statutory rules on creditor claims against estates).

Legitimate grounds accepted by Very Pay

Rule: Very Pay may terminate or suspend accounts for non-payment, suspected fraud, bankruptcy, false information or illegal use. You may terminate under section 94 of the Consumer Credit Act by giving required notice and repaying any outstanding balance.

Required documents: if you claim error or fraud, provide bank statements, ID, and transaction details. Applicable law: Consumer Credit Act 1974.

End of commitment

Rule: Very Pay operates as a revolving credit facility with no fixed minimum term. You can close at any time by giving notice and settling the outstanding balance.

Required documents: written notice of closure and settlement payment. Applicable law: Consumer Credit Act 1974.

Cooling-off (withdrawal)

Rule: You have the right to withdraw from a credit agreement without giving reason within 14 days starting the day after the agreement is made.

Required documents and timing: Call 0800 11 00 00, write to Credit Support Team, Sandringham House, Sandringham Avenue, Chelmsford, CM92 1LE, or email [email protected]. If you withdraw you must repay the account balance plus accrued interest within 30 days of withdrawal. Applicable law: Consumer Contracts Regulations 2013 and Very Pay terms.

Before cancelling: negotiate

What to request: Ask for a lower monthly payment, a temporary payment holiday, or to move a balance onto a 0% promotional option if eligible. Research does not show specific retention packages publicly offered by Very Pay. To request retention options, call 0800 11 00 00 and ask to speak to the account retention or customer support team; follow up by email to [email protected] and request written confirmation of any offer.

What cancelling saves (example calculation)

Use concrete figures from Very Pay rules to estimate savings. Minimum monthly payment rule: 5 or 6% of the balance, whichever is greater. Examples:

• If your balance is 1,200, the minimum monthly payment would be 6% x 1,200 = 72 per month. Yearly cost at that payment level (not including interest) would be 72 x 12 = 864 per year.
• If you only make the minimum payment of 5 monthly, the yearly outflow is 5 x 12 = 60 saved by cancelling the account entirely (not including interest avoided).

Cheapest real alternative: Monzo current account at 0 per month and 0 annually.

Relevant UK laws and regulator

The main laws and regulators applying to Very Pay customers in the United Kingdom are the Consumer Credit Act 1974 and the Consumer Contracts Regulations 2013, and protections under the Consumer Rights Act 2015. The Financial Conduct Authority (FCA) is the regulator for consumer credit firms. The Competition and Markets Authority (CMA) monitors unfair auto-renewal or hard-to-cancel subscription practices.

Cooling-off and repayment

Under the Consumer Contracts Regulations 2013 you have a 14-calendar-day right to withdraw from a credit agreement concluded online or off-premises, starting the day after the agreement is made. If you withdraw you must repay the account balance plus any interest accrued without delay and no later than 30 calendar days after giving notice of withdrawal. These withdrawal rules are also reflected in Very Pay terms.

Closing an account and paying out

Under the Consumer Credit Act 1974 you may close a credit account at any time; the lender cannot prevent closure but can require settlement of the outstanding balance according to the agreement. Section 94 of the Consumer Credit Act allows repayment in full or in part after giving notice.

How to escalate

First, complain to Very Pay in writing and keep proof. If the outcome is unsatisfactory escalate to the Financial Ombudsman Service for consumer credit complaints. Citizens Advice can help with rights and next steps. For qualifying card payments, consider Section 75 or a chargeback via your card issuer where applicable.

Confirm closure and final balance

Obtain written confirmation that the account is closed and request a final statement showing the outstanding balance set to zero or the amount remaining to repay. If you withdrew within 14 days, you must repay the balance plus interest within 30 days.

Cancel Direct Debit and monitor bank

Cancel the Direct Debit with Very in your account and with your bank or building society to stop future collections. Keep proof of the Direct Debit cancellation.

Check your credit file

Check your credit reports at the three UK credit reference agencies to confirm how the closure is recorded. Very reports repayments to all three UK CRAs. If the account is shown incorrectly, contact the CRA and Very Pay in writing to correct the record.

Data and reactivation

Ask for details of what personal data Very holds. If you want to reopen an account later, confirm reactivation rules and whether a new application is required. Keep copies of all correspondence for at least 12 months.

Use this checklist to complete and verify cancellation.

• Log into Very account and cancel Direct Debit in Payments tab; take screenshots.
• Call 0800 11 00 00 to request account termination and note the agent and reference number.
• Send a written termination request by email to [email protected] and keep the sent message.
• If sending by post, use Recorded Delivery to Very Pay, Speke Road, L70 1AB Liverpool, United Kingdom and keep the delivery receipt.
• Request a final statement showing outstanding balance and settlement instructions.
• If you withdraw within 14 days, arrange repayment of the balance plus accrued interest within 30 days.
• Cancel Direct Debit with your bank/building society in addition to cancelling with Very.
• Check credit reports and dispute any incorrect entries with Very and the credit reference agencies.