Yes, Debitum can close your account upon your request. You can not do it yourself from the Debitum account.
To close your account, you must send a request to [email protected].
For security reasons, your email must include the following attachment so we can verify your identity:
A "selfie" photo of you holding your open passport or National ID card next to your face.
Why We Require a Selfie with Your ID?
At Debitum Investments, we understand that when you decide to close your account, especially if the balance is zero, you expect a simple and fast process. However, as a licensed investment brokerage firm supervised by the Bank of Latvia, we are required to follow strict security and compliance procedures, including during account closure.
1. Preventing unauthorized account deletion
Your investment account contains sensitive personal and financial information. If someone gained access to your login credentials or email, they could attempt to close the account without your consent.
By requesting a live photo of you holding your ID document, we ensure that the closure request is submitted by the verified account holder and not by someone impersonating them.
2. Regulatory compliance (AML/KYC obligations)
As a regulated financial institution operating under European Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements, we must maintain a clear audit trail of the entire client lifecycle, including account termination.
The selfie with ID serves as a final identity confirmation. It provides documented evidence that the business relationship was ended by the verified individual. This is a standard compliance practice across regulated financial institutions in the European Union.
3. Protection of your data rights (GDPR)
Under GDPR, you have the right to request the deletion of your personal data. However, before processing such a request, we are legally required to verify your identity. We cannot act solely on an email request, as email accounts can be compromised.
The selfie verification ensures that we protect your personal data from unauthorized deletion requests.
How to take a correct selfie with your ID?
To avoid delays or rejection, please follow these requirements carefully:
Hold the document next to your face so that your face and the document are clearly visible. Do not cover your eyes or mouth.
Ensure the document is readable.
Take a fresh, live photo. Photos of screens, printed copies, or previously taken images are not accepted.
Avoid glare or reflections on the document surface. Ensure proper lighting without bright flashes.
What happens after you submit the photo?
Verification: Our compliance team manually compares your new selfie with the identification documents provided during registration.
Processing: Once your identity is confirmed, we proceed with the account closure process.
Data Retention: As a regulated entity, we are legally required to retain certain identification and transaction records for up to 10 years after account closure in accordance with Latvian law and AML regulations. After the mandatory retention period expires, the data is permanently deleted.
Important
If your account has active investments or an available balance, you must first withdraw all funds and wait until all investments are fully repaid before the account can be closed.
Additionally, we would greatly appreciate your feedback regarding your decision to leave Debitum. Understanding your reasons will help us enhance our services and better meet the needs of our clients.