How To Delete Lending Club Account : The Process of Deleting

Lending Club is a web-based peer-to-peer lending platform that facilitates investments in personal and small business loans. Borrowers apply for loans on the Lending Club website and investors can choose to fund all or part of the loan. Lending Club is one of the largest peer-to-peer lending platforms in the United States.

If you’ve decided to close your Lending Club account, you may be wondering how to do it. Lending Club is a popular online marketplace for loans and investments. While the process of deleting your account is straightforward, there are a few things to keep in mind to ensure you do it correctly.

In this article, we will guide you through the process of deleting your Lending Club account step-by-step. We’ll cover everything you need to know, including what happens when you delete your account, how to withdraw your remaining funds, and more.

Why delete your Lending Club account?

There are many reasons why you may want to delete your Lending Club account. Maybe you’re not using it anymore, or you’ve found another online lending platform that suits your needs better. Perhaps you’re closing your investment accounts or consolidating your finances.

Whatever your reason, it’s important to know that deleting your Lending Club account will cancel any open loans or investments you have. It’s also important to withdraw your remaining funds before closing your account.

What happens when you delete your Lending Club account?

When you delete your Lending Club account, any open loans or investments you have will be canceled. You will also lose access to your transaction history and account information. However, any account-related emails or other communications will be retained by Lending Club for legal purposes.

How to withdraw your remaining funds

Before you delete your Lending Club account, you need to withdraw your remaining funds. To do this, follow these steps:

1. Log in to your Lending Club account.
2. Click on “Settings” in the top right corner.
3. Click on “Withdraw Funds” under “Account Information”.
4. Choose the account you want to withdraw funds from (i.e., “Available Cash”).
5. Enter the amount you want to withdraw.
6. Click on “Submit Request”.

It’s important to note that it may take up to three business days for your withdrawal request to be processed.

Steps to delete your Lending Club account

Now that you’ve withdrawn your remaining funds, you can proceed with deleting your Lending Club account. Follow these steps:

1. Log in to your Lending Club account.
2. Click on “Settings” in the top right corner.
3. Click on “Contact Us” at the bottom of the page.
4. Select “Account Closure” from the dropdown menu.
5. Choose a reason for closing your account from the list.
6. Click on “Submit Request”.
7. Lending Club will send you an email with instructions on how to complete the account closure process.

FAQs

1. Can I reactivate my Lending Club account after deleting it?

No, once you delete your Lending Club account, it cannot be reactivated. You will need to create a new account if you want to use Lending Club in the future.

2. What happens to my notes and investments when I delete my Lending Club account?

Any open loans or investments you have will be cancelled when you delete your Lending Club account. You will lose access to any associated notes or investments.

3. How long does it take to receive my remaining funds after deleting my Lending Club account?

Once you submit a request to withdraw your remaining funds, it may take up to three business days for the request to be processed. After that, the timing depends on your bank or financial institution’s processing times.

4. Will I be charged a fee for deleting my Lending Club account?

No, there is no fee for deleting your Lending Club account.

5. How do I contact Lending Club customer support?

You can contact Lending Club customer support by clicking on “Settings” in the top right corner of your account, and then selecting “Contact Us” at the bottom of the page. From there, you can select the topic you need help with and submit a support request.

Conclusion

Deleting your Lending Club account is a straightforward process, but it’s important to withdraw your remaining funds first. Remember that any open loans or investments you have will be cancelled when you delete your account, and you will lose access to your account information and transaction history.

If you have any questions or need assistance with deleting your account, don’t hesitate to contact Lending Club customer support. They are available to help you through the process and answer any questions you may have.