Luno sets final withdrawal deadlines as regional exits loom

The situation impacts an unspecified number of users whose accounts are slated for permanent closure on September 1. Luno, which is currently narrowing its global footprint to prioritize core markets in Africa and Southeast Asia, has not publicly identified the specific regions receiving these closure notices. For those affected, the window to preserve holdings by moving them to personal wallets has closed, leaving liquidation as the primary recourse.

Remaining balances are subject to strict conditions following the September 1 closure. Accounts with less than $10 will be retained by the company, while larger balances remain eligible for manual withdrawal. However, costs for inaction will mount quickly: a $2 monthly inactivity fee begins in September, followed by a $50 dormancy charge in December, totaling $52 per month. Customers who have not yet verified a withdrawal account are urged to contact support immediately, as standard deposit-based verification methods are no longer available. This shift follows a broader company restructuring, including a 20% reduction in global staff announced in July, as CEO James Lanigan pivots resources toward institutional and business-to-business services.