In accordance with our Terms of Use, which you agreed to when signing up for a Luno account, we may close your account if we reasonably suspect any one of these (to name a few):
- The account is subject to an operational or other error (for example, if you signed up in a country we don’t operate in).
- The account has been involved or associated with unlawful, fraudulent or prohibited activity.
- The account breached our Terms of Use.
- The account poses a heightened risk of legal or regulatory non-compliance.
Terminating an account is not an action we take lightly. If possible, Luno will always notify you about your account closure, but we are under no obligation to disclose the fact or reason for the closure.
Note
The list above doesn’t cover everything. Please refer to Luno’s Terms of Use for your country, then check the section titled “Restriction, Suspension and Termination.” There, you’ll see a more extensive list of potential reasons, as well as the process we follow on closure of your account.
Can I open a new account?
If Luno has closed your account and informed you that you should not attempt to open a new account, then the answer is: no.
However, if we haven’t advised you not to open a new account, you might be able to sign up for Luno again in future. For example, your account might have been closed because you signed up while staying in a country that Luno cannot operate in. If you have since moved to a country that Luno does operate in, you could sign up again in your new country.
Check what Luno’s email communication to you mentioned when your account was closed. This will usually indicate whether or not you’d be permitted to open a Luno account in future.