Let’s start with a quick thought exercise – imagine that you own a beautiful holiday home, it’s everything you have ever wanted, but you only spend about a month a year at this home. Which means the remaining 11 months in the year, the house isn’t being used frequently, thus making it vulnerable to things like break-ins, general wear and tear, etc, etc. You’d probably ask a trusted friend, acquaintance, or family member to periodically check on the house for you – secure the windows, lock up, keep the grounds clean, etc.
Now let’s apply that to reality – an inactive Flutterwave account is a bit like that empty house. When an account isn’t used for a long time, it can become a target for risks like fraud. To protect you, your customers, and the entire Flutterwave ecosystem, we have a policy to proactively secure accounts that have been inactive for an extended period.
This isn’t about closing your account. It’s about protecting it. This guide will walk you through our inactivity policy, what it means for you, and the simple steps you can take to keep your account active.
Why Do We Have This Policy?
Our primary goal is to create the safest possible environment for your business to grow. Dormant accounts, unfortunately, can pose security risks. This policy helps prevent:
- Account Takeovers: It stops unauthorised people from accessing an unused account to make fraudulent transactions. You can learn more about how Flutterwave protects your account here.
- Data Misuse: Securing inactive accounts protects your personal data from being accessed for misuse.
- Financial Loss: Most importantly, this process protects your business from potential financial harm due to unauthorized access.
Understanding the Terms: Inactive vs Dormant
Let’s quickly clear up the two terms you’ll see. It’s all based on the last time a customer made a payment through your account.
- Inactive Account: An account is considered “Inactive” if it has had no customer-initiated transactions for 180 days.
- Dormant Account: An account becomes “Dormant” if it has had no customer-initiated transactions for 365 days.
What to Expect: The Account Timeline
We believe in clear communication, so we’ll always let you know what’s happening with your account. Here is a simple breakdown of the process.
- At 120 Days of No Transactions: You’ll get a friendly heads-up. We will send you an email and a notification on your dashboard just to let you know your account is approaching inactivity.
- At 180 Days (Inactive Status): Your account is now officially inactive.
- You’ll receive a second email notification with a link to easily reactivate your account.
- For your protection, we will temporarily pause collections and payouts on the account.
- At 275 Days (Still Inactive): You will receive another email informing you that your account is about to be dormant, with a reactivation link.
- At 365 Days (Dormant Status): If the account remains inactive for a full calendar year, it will be updated to “Dormant” status to ensure it’s fully secured. At this stage:
- Access to your dashboard and API services will be suspended.
- All collections, payouts, and settlements will be deactivated.
- Access to all other Flutterwave for Business features (like card issuing, virtual accounts, bill payments) will also be suspended
After your account becomes dormant, you will need to undergo our Know Your Customer (KYC) process again to reactivate it. You will be required to share a valid ID and relevant business documents with us to verify your identity and your business.
The Easiest Way to Keep Your Account Active
Preventing your account from becoming inactive is simple; you just need to process one single, successful transaction. That’s it! Doing this will reset the clock and keep your account fully active. You can use any of our payment tools to receive payments, including APIs, payment links, store, invoices, etc.
Tips for Staying in the Loop
To make sure you always receive our notifications, here are a couple of quick tips:
- Keep Your Details Updated: Always ensure the contact details you’ve provided us with are up to date.
- Visit Your Dashboard: Visit your dashboard frequently to check for any important notifications.
Our Inactivity Policy Is Here to Help
This policy is designed to protect you, first and foremost. If you have any questions or need help reactivating your account, our Customer Experience team is always ready to assist. Please feel free to send us an email at [email protected].
Thank you for choosing Flutterwave as your partner in growth.
Thank you for working with us to create a safer payment space for everyone.