How to Cancel myPOS (UK 2026)

myPOS exit terms at a glance

These are the terms myPOS publishes in its own legal agreement and help centre. We read the agreement terms on 25 August 2026 and the help centre on 1 November 2026.

Step 1: Export your records

In the web account, open Accounts. Statements gives start and end balances per day or month, and Activity lists every transaction for a period you choose. Download both for each currency account, plus card activity from the Cards menu if you used a myPOS business card. HMRC expects you to keep business records, and once the account is closed you no longer have a dashboard to pull them from. myPOS itself keeps the data for 5 years after the contract ends, but getting it back means a request rather than a download.

Step 2: Settle refunds and empty the account

Refund any customer you owe while the account still takes refunds, because a refund is free from your balance and a reversal requested later is not (myPOS charges £10 to cancel or return a completed card payment). Then send the balance to your business bank account using Payments, New Payment, bank payment. A myPOS account is an e-money account with its own IBAN, so check the Payments menu for standing orders and point any Direct Debits that collect from it at your new bank.

Step 3: Reset every terminal

This is the step people skip. In the web account go to POS Devices, choose the terminal and click Reset to generate a code. On a Go or Combo, press F2, F2, 2, enter the code and confirm. On a Carbon, Pro, Ultra or Flex, go to Settings, About Terminal, Reset terminal. Click Ready in the account when done. If you close first, myPOS says you have to email help@mypos.com to deal with the active device, which adds a round of emails you can avoid.

Step 4: Email myPOS to close the account

The Accounts menu has a Close the account setting for each currency account, but to end the agreement itself, myPOS tells merchants to email help@mypos.com from the registered email address. A short message is enough.

To: help@mypos.com Subject: Account closure and termination of agreement Hello, Please close my myPOS account and terminate my agreement with immediate effect. Business name: [YOUR BUSINESS NAME] Client number / MID: [YOUR NUMBER] Registered email: [THIS ADDRESS] My balance has been transferred out and my POS devices have been reset. Please confirm in writing: 1. The date the account and agreement are closed 2. That no further fees will be charged 3. That no device rental plan remains active on the account Thank you, [Your name]

Step 5: Keep, return or recycle the hardware

A terminal you bought is yours; myPOS states no obligation to return it when you close. If it is unused, complete and still within 60 days of purchase, you can ask for a refund: email returns@mypos.com first, fill in the myPOS return form, and include the invoice. Opened and used devices fall outside that voluntary policy unless faulty. A terminal bought through a reseller goes back to the reseller.

If you rent a myPOS Ultra

myPOS offers UK companies (limited, unlimited, CIC, IPS and branches) an 18-month rental on the myPOS Ultra, signed as an addendum to the main agreement, and a minimum monthly service charge may apply if your volume is low. Ending a rental works differently from closing the account:

• Email help@mypos.com to request termination of the rental plan
• Inside the minimum rental period a notice period applies; myPOS says its length depends on how long you have rented and does not publish the figure
• Any early termination charge on a rental: Not published
• After the notice ends the terminal stops processing and must be returned within 30 days to Castles Technologies, Unit 3 Milford Trading Estate, Blakey Road, Salisbury, SP1 2UD

Ask myPOS to confirm the notice period and any remaining charges in writing before you send the closure email.

Step 6: Freeze cards and file the confirmation

Block any myPOS business cards from the Cards menu so nothing new lands on the account, keep the closure confirmation, and only then remove myPOS from your accounting software bank feeds.

Should you stay put?

With a purchased terminal there is no exit maths to do: the termination charge is zero, so the decision is purely about what you pay per transaction. Two published facts are worth checking before you decide. First, from 13 May 2026 myPOS treats UK-issued cards as non-EEA cards; your tariff rates did not change, but UK card payments can now be priced under the non-EEA category. Compare a recent statement with one from before May and you will see whether that moved your costs. Second, do not leave the account idle as a backup. After 10 months without a card payment, the £30 No-acquiring Fee can apply, so a dormant account costs money where a closed one does not.

The one case for staying is a rented Ultra early in its 18 months. myPOS does not publish what leaving early costs, so get the figure in writing first. If it is close to the rental fees you would pay anyway, keep the terminal until the notice ends and run your new provider alongside it.

Alternatives to myPOS

If you are leaving over rates, compare like for like: the same monthly card turnover and the same split of UK debit, credit and international cards. Our card machine comparisons set out published terms provider by provider, and a free statement review prices your actual myPOS statement against other providers, so you are not guessing from headline rates. Through MerchantSwitch, Dojo also comes with a free terminal and no monthly rental.

Frequently asked questions about cancelling myPOS

If the closure goes wrong

Complaints go to complaints@mypos.com. myPOS Payments is authorised by the FCA as an electronic money institution (reference 900826), so if you are unhappy with the final response and eligible, you can take it to the Financial Ombudsman Service. Our guide to complaining about a card machine provider covers who qualifies.