How to delete your PeerBerry account

About deleting your PeerBerry account

PeerBerry is a peer-to-peer lending platform that connects investors with loan originators, specializing primarily in consumer and business loans across Europe. Unlike traditional banking, it operates as an alternative investment marketplace, which means it processes sensitive financial, tax, and identity-related documentation required for anti-money laundering (AML) and know-your-customer (KYC) regulations.

Users may choose to delete their PeerBerry account for several specific reasons. You might want to close your account if you have ceased your P2P investment activities, are dissatisfied with current loan originator performance, or wish to reduce your digital footprint regarding high-stakes financial data. Common motivations include:

• Shifting investment strategies away from crowdlending platforms.
• Limiting exposure to the risks associated with the loan originators listed on the platform.
• Concerns regarding the long-term storage of sensitive financial records and identity documents.

What happens to your data

When you request account deletion through PeerBerry's support, the platform is legally obligated by financial regulations to retain specific records even after you close your profile. PeerBerry collects and handles the following data types:

• Government-issued identification documents and facial verification biometrics.
• Tax identification numbers and proof of residence for financial reporting.
• Detailed transaction histories, deposit records, and withdrawal logs.
• Bank account details linked to your investments.

While the platform will cease marketing communications and deactivate your user profile, PeerBerry must adhere to AML (Anti-Money Laundering) laws. This means they are required to archive transaction data and KYC records for a mandatory statutory period, typically five to ten years depending on their jurisdiction and financial licensing requirements. Your data will be transitioned from active processing to secure archival storage.

Privacy considerations

PeerBerry operates under strict financial compliance standards, which inherently involves sharing necessary data with their payment service providers and the specific loan originators you invest in. Because your financial identity is tied to real-world capital, privacy management is more complex than with standard web services.

• Ensure you have fully withdrawn your available balance and that all pending investments have reached maturity before contacting support, as funds left behind can complicate account closure.
• Request a confirmation email from the support team once the deletion process is complete to serve as a record of your request.
• Use the 'Contact Support' feature via your registered email address to ensure the request is authenticated.
• Be aware that your digital footprint on the platform includes metadata related to your investment preferences and risk tolerance levels.

Frequently Asked Questions

Can I delete my PeerBerry account if I have active investments?

No, you must wait until all loans have reached their maturity date and your total portfolio balance is withdrawn before the support team can finalize your account deletion.

Does PeerBerry delete my identity documents immediately?

No, due to AML and financial regulations, PeerBerry is legally required to retain KYC documentation and transaction history for a set period, even after you close your account.

Is it possible to reopen my account after deletion?

Account deletion is treated as a permanent action. If you wish to invest on PeerBerry again in the future, you will likely need to register a new account and complete the full identity verification process again.

Why does PeerBerry require manual email contact for deletion?

Because PeerBerry manages real-world financial assets, they use an email-based support request to prevent unauthorized access and ensure that the account owner is truly authorizing the closure of their financial profile.

Will my personal information be removed from marketing databases?

Yes, once your account deletion is processed, your data will be scrubbed from marketing and promotional outreach lists, though it remains in financial archival storage.

Are there any fees for deleting a PeerBerry account?

There are no specific fees for account deletion itself, but ensure all pending interest is paid out and your cash balance is zeroed out before initiating the request.