How do I clear my Luno account of all funds?

If you’re leaving Luno, you can follow this step-by-step guide to help you empty your various wallets of any balances.

Tip

Different countries support different product offerings, so you can ignore any options below that you don’t have.

If you have any crypto staked, you’ll you’ll see a positive Stake balance on your Portfolio screen.

staking balance card

Here's how you clear it:

  1. Expand the Stake balance section to see your staking wallet(s)

  2. Open the wallet you want to unstake from

  3. Select UNSTAKE

  4. Select MAX in the Amount field, then press NEXT

  5. On the next screen, select UNSTAKE NOW

That’s it. You’ll see a confirmation screen indicating how long it could take for your crypto to unstake.

After your crypto has been unstaked, it will arrive in your normal crypto wallet. For example, if you unstake Ethereum, you’ll find it in your ETH wallet.

Note

It could take a number of days before your unstaked crypto is available in your normal crypto wallet. The waiting period is determined by that cryptocurrency’s blockchain, not by Luno.

If you’ve bought a bundle, such as the Luno Large Cap, you’ll see a balance under the Bundles section of your Portfolio screen.

bundles balance card

Here's how you clear it:

  1. Expand the Bundles section

  2. Select Luno Large Cap to open up the performance screen

  3. Choose SELL from the quick action bar

  4. Select MAX to sell the full amount in your bundle, then NEXT

  5. On the next screen, press CONFIRM

The funds from selling your bundle will arrive near-instantly in your local currency wallet.

Tip

During rebalancing events, which take place four times a year and last 1½ hours, you won’t be able to transact with your bundle. In the unlikely event that you’re trying to sell your bundle during one of these brief periods, you may need to wait and try again a bit later.

If you have a positive balance in any of your crypto wallets, you’ll see this reflected under Total crypto. Expand this section to see which wallets have crypto in them.

total crypto balance card

You’ll need to either sell your crypto for local currency or send your crypto out to an external wallet address.

Note

Under certain circumstances, Luno may restrict crypto sends or local currency withdrawals. In this case, use whichever method is available to you. For example, if sends are restricted, you’ll need to sell crypto and withdraw local currency to your bank instead.

How to sell your crypto:

  1. Open the crypto wallet you want to sell from

  2. Select SELL

  3. Choose to sell it for local currency

  4. Select MAX as the amount you’re selling, then press NEXT

  5. On the next screen, select CONFIRM

Repeat this for all crypto wallets that have a positive balance.


How to send your crypto

  1. Make your you’ve enabled crypto sends by going to Profile > Security > Scroll down to Send cryptocurrency

  2. After sends are enabled, go to Portfolio

  3. Open the crypto wallet you want to send from

  4. Select SEND from the quick action bar (this might be located under the MORE option)

  5. Paste in the wallet address you want to send to

  6. If the Travel Rule applies in your country, you'll be asked to complete a few questions

  7. Enter the amount you want to send and select NEXT

  8. Select CONFIRM

Tip

If you need to send a large amount of crypto to another wallet, it’s best practice to make a test send first. Send a smaller amount to ensure the transaction is received successfully. Crypto sends are irreversible and generally can’t be recovered if something goes wrong.

You can clear your local currency wallet balance by making a withdrawal to a verified bank account in your name.

How to withdraw:

  1. On your Portfolio screen, open your local currency wallet

  2. Select WITHDRAW from the quick action bar

  3. Choose your bank account or add new bank details

  4. Select MAX when inputting the amount you want to withdraw

  5. Review the transaction and press CONFIRM

If successful, you’ll see a screen confirming we’re processing your withdrawal, along with an estimated time when you can expect the money in your bank account.

Future payments

In addition to the steps above, please make sure you don’t have any future payments coming into your Luno account:

  • Cancel any debit orders or scheduled bank transfers to Luno

  • Cancel any repeat buys you set up previously

  • Inform others not to send crypto to your Luno wallets

My account was closed but I had funds in it. What now?

You can submit a claim for your funds (subject to any penalties) by getting in touch with us.

The claims process generally takes a minimum of 30 days to complete.

Our full account termination process, and how we return funds, is detailed in section 18 of our Terms of Use.

Share this article

Did this article help?

Thank you!

We value your feedback