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Frequently asked questions
Cancel Openpay: The Right Way
How to cancel your Openpay account and settle your balance
Understanding Openpay and why you might cancel
Openpay was a buy now, pay later provider that enabled flexible instalment plans for purchases typically ranging from 2 to 24 months, with transaction limits up to A$20,000 depending on merchant approval and your credit assessment. The service operated across automotive, healthcare, home improvement and retail sectors. In 2026, Openpay entered liquidation and stopped accepting new sign-ups, fundamentally changing how existing customers manage their accounts.
If you hold an active Openpay account, you face a specific window to cancel, settle your balance, and protect your consumer rights before account records become difficult to access. This guide walks you through your legal position under Australian Consumer Law, the cancellation methods available to you, and the practical steps to close your account cleanly.
Why customers cancel Openpay accounts
Most cancellations occur because you have finished paying your instalment plan, want to prevent unauthorised charges during the company's restructuring, or face billing confusion caused by delayed merchant refunds and plan reconciliation gaps. Others cancel after disputes over returned items, unexpected fees applied after normal trading ceased, or simply to regain control of your financial records before the liquidation process advances further.
If you are uncertain whether to keep or close your account, Yafee recommends reviewing your current outstanding balance and payment schedule first, then comparing that against your actual spending patterns.
The current status of Openpay and what it means for you
Openpay is in liquidation, meaning the company no longer operates as a functioning trader. You cannot open new accounts, but existing customers continue to manage their plans via the Openpay app or website until all obligations are settled. This status creates practical urgency: you should act now to confirm your balance, request closure documentation, and ensure no unexpected charges accumulate. Yafee advises taking control of this process proactively, because account access and historical records may become harder to retrieve as the liquidation progresses.
Your consumer rights under australian consumer law
Australian Consumer Law protects you in several critical ways when dealing with credit providers and buy now, pay later services, even during liquidation.
Statutory protections that apply to your Openpay account
Under the Australian Consumer Law (Part 3-2 of the Competition and Consumer Act 2010), you have the right to clear, accurate information about your plan terms, applicable fees, and remaining balance. Openpay must provide transparent statements and respond to your disputes within a reasonable timeframe-typically 30 days for most consumer complaints.
Furthermore, if Openpay charged you unauthorised fees or failed to apply merchant refunds correctly, you can lodge a formal dispute and potentially claim a refund. The Australian Securities and Investments Authority (ASIC) oversees Buy Now, Pay Later providers and holds them accountable for breaches of consumer credit law, even during liquidation proceedings.
Additionally, if you purchased goods or services through a merchant using Openpay and those goods were faulty, unsafe, or not as described, your consumer guarantee rights remain intact regardless of the financing method. This means you can pursue the merchant for a refund or replacement, and your Openpay instalment plan should be adjusted accordingly. Your rights exist independent of Openpay's operational status.
Cooling-off rights and early termination obligations
Cooling-off rights for distance or unsolicited purchases typically give you 10 business days to change your mind and withdraw from the contract. However, these rights do not apply to all Openpay transactions, particularly if you initiated the purchase directly or if the goods have already been delivered and used. Check your original contract terms to confirm whether cooling-off applies to your specific plan.
Early termination of an instalment plan is not automatically free. Openpay's terms may allow the company to calculate remaining principal and applicable fees if you request closure before the final scheduled payment. Yafee recommends requesting a final settlement figure in writing before submitting your cancellation request, so you understand exactly what you owe and can budget accordingly.
Your legal position
You have the right to cancel your account at any time. Openpay cannot force you to continue paying if you choose to exit. However, you remain liable for any outstanding balance on your plan unless a merchant refund or formal dispute resolution process reduces what you owe. The Australian Financial Complaints Authority (AFCA) can escalate disputes if Openpay refuses to respond fairly to your cancellation request or refuses to apply refunds due to you. You are protected; you simply need to follow the correct procedure and document everything in writing.
Methods to cancel your Openpay account
You have three primary channels to submit your cancellation request: online via the app or website, by phone, or by postal mail to the company's registered office.
Cancel online via the Openpay app or website
The quickest method is to log into your Openpay account via the app or website (openpay.com.au) and navigate to your account settings. Look for an account closure or cancellation option, typically found under "Settings" or "Account Management".
Consequently, you will be prompted to confirm your identity and review your outstanding balance. Take screenshots or download a PDF of your final balance statement before confirming closure, as this serves as evidence for your records. Yafee advises keeping this documentation for at least 12 months, because disputes may arise after account closure.
Once you submit the online cancellation request, Openpay should send you a confirmation email within 24 hours. If you do not receive confirmation, contact them by phone (detailed below) to verify that your request was processed.
Cancel by phone
Contact Openpay's customer service team on 1300 168 359. Inform them you wish to cancel your account and settle your outstanding balance.
During the call, ask the operator to:
- Confirm your current outstanding balance in full
- Clarify whether any pending merchant refunds will reduce your balance
- Provide you with a final settlement figure in writing via email
- Send you a cancellation confirmation and closure letter after the call
- Confirm the timeframe for final account closure once your balance is paid
Request the operator's name, the date and time of the call, and their reference number. This information supports any future dispute if Openpay disputes having received your cancellation request. After the call, follow up with an email (detailed below) to create a written record of your verbal cancellation instruction.
Cancel by postal mail
Send a formal written cancellation request to Openpay's registered office. Write a letter that includes:
- Your full name, account number, and date of birth
- A clear statement: "I hereby request cancellation of my Openpay account, effective immediately"
- Your request for a final balance statement and settlement figure
- Your current contact email and phone number
- A request for written confirmation of cancellation within 14 days
Send the letter by registered post to the address provided in the Cancellation and company contact information section below. Keep a copy of your letter and the Australia Post receipt as proof of posting. Registered post provides a tracking number and signature confirmation, which strengthens your evidence if a dispute arises.
Cancel by email
Send a formal cancellation email to [email protected]. Use the subject line: "Account Cancellation Request - [Your Name] - [Account Number]".
In the body, include:
- Your full name, account number, and account opening date
- A clear statement of cancellation intent
- Your request for a final balance statement
- Your request for written confirmation of cancellation
- Your current contact phone number
Send the email from the address registered to your account. Save a copy of your sent email in a separate folder for your records. Request read receipt or delivery confirmation so you have proof that Openpay received your cancellation request.
Step-by-step cancellation procedure
Follow these steps in order to ensure your cancellation is processed correctly and your account is fully closed.
Step 1: review your current balance and payment history
Log into your Openpay account (via app or website) and download or screenshot your current account statement. Note your outstanding balance, the number of remaining payments, the scheduled payment dates, and any pending merchant refunds or disputes. This information forms your baseline for settlement negotiations.
Step 2: request your final settlement figure in writing
Contact Openpay via phone (1300 168 359) or email ([email protected]) and request a formal final settlement figure. Ask Openpay to confirm:
- The exact dollar amount you owe today
- Any interest, fees, or late payment charges applied since your last statement
- Whether any pending merchant refunds will reduce your balance
- The deadline for payment to avoid further charges
- The method of payment (bank transfer, credit card, or other)
Request this information in writing-either via email or formal letter-so you have documented evidence of the figure Openpay confirms to you. This protects you if the company later claims you owe more.
Step 3: dispute any unauthorised or incorrect charges
If your statement includes fees or charges you believe are incorrect, raise a formal dispute immediately. Write to Openpay (via email or registered post) stating exactly which charges are disputed, why you believe they are unauthorised or incorrect, and what outcome you seek (refund, credit, or removal).
Openpay must acknowledge your dispute within 24 hours and provide a substantive response within 30 calendar days. If Openpay refuses to resolve the dispute in your favour, you can escalate to the Australian Financial Complaints Authority (AFCA) for free review. AFCA can order Openpay to refund you if they find the charges were applied in breach of Australian Consumer Law.
Step 4: submit your formal cancellation request
Once you have confirmed your settlement figure and resolved any disputes, submit your cancellation request using the method most suitable for you: online, by phone, by email, or by registered post. Yafee recommends using at least two methods (for example, phone plus email, or email plus registered post) so that you have redundant evidence of your cancellation intent.
In your cancellation request, clearly state:
- Your full name and account number
- The date you wish to cancel (typically "immediately" or the next business day)
- Your acknowledgement of the outstanding balance and your commitment to pay it in full
- Your request for written confirmation of cancellation
- Your request for a final closure letter once all payments are received
Step 5: pay your outstanding balance
Once Openpay confirms your settlement figure, arrange payment of the full outstanding balance. You can typically pay by bank transfer (EFT), debit card, or credit card. Retain a screenshot or receipt showing the payment date, amount, and confirmation number. This proves you paid what Openpay said you owed.
If you cannot pay the full amount immediately, contact Openpay and request a payment plan for your remaining balance. Openpay may agree to extend your cancellation timeline to accommodate staged payments. Document this agreement in writing.
Step 6: obtain and retain closure documentation
After payment is received, Openpay should send you a formal account closure letter confirming that your account is permanently closed and your balance has been satisfied. Request this letter explicitly-do not assume you will receive it automatically. Save this document alongside your cancellation confirmation, settlement figure, and payment receipt. These documents are your evidence that you have cancelled and settled your account according to law.
Yafee advises keeping this folder of cancellation documentation for at least 12 months, because credit reference agencies may take time to update their records, and disputed charges can emerge later.
Refunds and dispute resolution
If Openpay owes you a refund-because a merchant refunded a purchase or you overpaid your account-you have the right to receive that money back.
How to claim a refund
Identify the reason for your refund claim. Common scenarios include:
- A merchant returned goods and issued a refund, but Openpay has not credited your account
- You made a payment error and overpaid your account
- Openpay charged you unauthorised fees or late fees that violated your contract or Australian Consumer Law
- You exercised a cooling-off right and returned goods within the 10 business day window
Submit a formal refund request to Openpay via email ([email protected]) or registered post, stating the reason, the amount, and the supporting evidence (merchant refund confirmation, payment receipt, contract clause, etc.). Ask Openpay to process the refund within 14 days and to confirm receipt of your request within 24 hours.
If Openpay refuses to refund you
If Openpay disputes your refund claim or fails to respond within 30 days, escalate your complaint to the Australian Financial Complaints Authority (AFCA). AFCA is a free, independent dispute resolution service funded by the financial industry but governed independently. AFCA can review Openpay's decision, order a refund if it finds you are owed one, and award compensation for financial loss or distress caused by Openpay's conduct.
To lodge a complaint with AFCA, visit afca.org.au or call 1800 931 678. You will need to provide AFCA with copies of your cancellation request, Openpay's response (or lack thereof), and any supporting documentation (receipts, statements, emails). AFCA typically resolves complaints within 30 calendar days of your formal complaint.
Common mistakes to avoid when cancelling
Cancellation is straightforward when you follow the correct process-but missteps can delay closure or expose you to unwanted charges.
Mistake 1: assuming verbal cancellation is enough
If you call Openpay and verbally request cancellation, always follow up with an email or registered post letter confirming what you said. Verbal cancellation leaves no written record, and Openpay may claim they did not receive your request. A written record is essential if you later need to dispute Openpay's claim that you never asked to cancel.
Mistake 2: failing to obtain and keep your final settlement figure
Never assume you know how much you owe. Always request a formal written statement of your exact outstanding balance before you cancel. If you pay a different amount than what Openpay later claims you owed, you risk further disputes and potential credit bureau reporting. Yafee emphasizes this point because balance discrepancies are common during liquidation transitions.
Mistake 3: not disputing unauthorised charges before cancelling
If your account statement includes fees you believe are incorrect, raise a dispute before you cancel. Once your account is closed, Openpay may refuse to review historical charges, arguing that closure finalizes the account. Dispute first, then cancel.
Mistake 4: cancelling without checking for pending merchant refunds
If you returned goods to a merchant and the merchant issued a refund, that credit may still be in transit to Openpay. Cancel too quickly and you may miss out on that credit being applied to your balance. Ask Openpay whether any refunds are pending before you finalize your settlement figure.
Mistake 5: losing your cancellation confirmation
After you cancel, Openpay should send you a confirmation email or letter. If you lose this document, you have no proof that you cancelled. Save all cancellation-related emails in a dedicated folder and back up important documents to cloud storage (Google Drive, OneDrive, etc.) or print them and file them physically.
After cancellation: what to expect and what to monitor
Your account closure is not complete the moment you submit your cancellation request-plan for a 14 to 30 day process from cancellation to full closure.
Timeline for full account closure
After you submit your cancellation request, Openpay typically acknowledges it within 24 hours. Your account will be marked as "closed" or "closing" in the system, and no new transactions can be initiated. Existing payments will continue to process according to your payment schedule until your balance reaches zero.
Once Openpay receives your final settlement payment, they will send you a formal closure letter confirming your account is permanently closed. This usually occurs within 7 to 14 business days of receiving your payment. From that date, you should see your account removed from your Openpay app or marked as "inactive" on the website.
Credit bureau reporting and your credit file
After your account closes, Openpay will report the closure to credit reference agencies (Equifax, Experian, and others). Your credit file will show "Account Closed - Paid" or similar language, which is a positive notation indicating you settled your obligations. This notation remains on your credit file for six years but does not harm your credit score.
If your account was closed due to non-payment or a dispute, the notation may read "Account Closed - Outstanding" or "Account Closed - Referred to Debt Recovery". If you believe this notation is incorrect, lodge a dispute with the credit reference agency directly. The agency must investigate and correct the record if it finds the information is inaccurate.
Monitoring for unauthorised charges
After cancellation, check your bank account and credit card statements for the next two billing cycles to ensure no unexpected Openpay charges appear. If you see charges from Openpay after your confirmed cancellation date, contact your bank immediately and dispute them. Your bank can reverse unauthorised post-cancellation charges and investigate Openpay's conduct.
Requesting a closure letter from the liquidator
If several weeks pass and you do not receive a formal closure letter from Openpay, contact their liquidator directly. The liquidator's details are typically provided in Openpay's correspondence or on their website. Request a written confirmation that your account has been closed and your balance has been satisfied. This letter serves as your ultimate proof of cancellation and settlement.
Pricing and fees during cancellation
Understanding what you may owe when you cancel helps you budget for settlement.
| Charge type | Applies during cancellation? | Notes |
|---|---|---|
| Remaining instalment balance | Yes, always | You remain liable for all unpaid instalments unless a dispute or refund reduces your balance. |
| Late payment fees | Only if you missed scheduled payments | If your account was in arrears, Openpay may add late fees to your settlement figure. Dispute these if you believe they are excessive or unauthorised. |
| Interest charges | Depends on your contract | Some plans accrue interest on outstanding balance. Check your original contract terms to confirm whether interest is applied. |
| Early termination fees | Rare, but check your terms | Most BNPL providers do not charge early termination fees, but some may apply a small flat fee if you close before the final scheduled payment. |
| Account closure or administration fee | Not standard | Openpay should not charge a fee simply to close your account. If they do, dispute it as unauthorised. |
| Merchant refund credits | Yes, reduces your balance | If a merchant refunded your purchase, that credit should be applied to reduce what you owe. Confirm this is reflected in your final settlement figure. |
Comparison: cancelling Openpay versus other buy now, pay later providers
If you use other BNPL services, you may be wondering how Openpay cancellation compares.
| Provider | Operational status | Cancellation method | Settlement process |
|---|---|---|---|
| Openpay | In liquidation | Online, phone, email, or post | Act now; account records may become harder to access as liquidation progresses. |
| Afterpay (Clearpay) | Trading normally | Online or app | Quick; closure confirmed within days. |
| Klarna | Trading normally | Online or app | Immediate; no settlement step required. |
| Zip Pay | Trading normally | Online, phone, or app | Straightforward; phone support responsive. |
| PayLater (Commonwealth Bank) | Trading normally | Online or app | Integration with CBA app makes closure seamless. |
Your position under the law and next steps
Yafee exists to help you understand your consumer rights and take confident action to protect them. Openpay's liquidation does not strip you of your legal protections under Australian Consumer Law. You have the right to cancel, the right to dispute unauthorised charges, and the right to escalate to AFCA if Openpay refuses to cooperate.
The steps outlined in this guide translate those rights into a clear, practical procedure. Follow them in order: review your balance, request your settlement figure, dispute any incorrect charges, submit your cancellation, pay your balance, and retain closure documentation.
Yafee has helped thousands of consumers cancel financial services accounts, resolve disputes with BNPL providers, and recover refunds during company restructuring. Your situation is manageable-provided you document everything in writing and escalate promptly if Openpay does not respond fairly.
Cancellation address and company contact information
Send written cancellation requests and formal complaints to:
| Contact method | Details |
|---|---|
| Registered postal address | Openpay Group Limited, Level 5, 432 St Kilda Road, Melbourne VIC 3004, Australia |
| [email protected] | |
| Phone | 1300 168 359 |
| Website | openpay.com.au |
| Escalation (AFCA) | Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001 | afca.org.au | 1800 931 678 |
How to use this contact information
For urgent matters (cancellation, settlement disputes), call 1300 168 359 first, then follow up with a registered post letter or email to create a written record. For disputes that Openpay refuses to resolve, lodge a complaint with AFCA using the contact details above.
Yafee recommends keeping copies of all correspondence-emails, letter receipts, payment confirmations, and AFCA case numbers-for a minimum of 12 months. This documentation protects you if a discrepancy emerges or if Openpay's successor entity attempts to revive a claim against you after liquidation concludes.
Take action today. Contact Openpay now to confirm your balance, submit your cancellation request, and begin the settlement process. Yafee is here to support your understanding of your rights every step of the way.
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