If I delete my Yape account, can I lose my money?

Hasn’t it happened to you a few times that due to some circumstance you have had to cancel your Yape account? The reasons may be various, but there is a fundamental fear in this whole process: what will happen to my money? What would happen depends on the reason for the decision to delete your Yape account.

The good of Yape are its accessibility to be able to carry out various procedures from the app, as well as, in case of theft, the response speed of its customer service centers.

Previously, Yape enabled the possibility for people to join the app only with their ID, a piece that worked until April 1, with a success that prompted one million more Peruvians to join, of the 13 million who already actively use Yape . If this option were currently still active, the possibility of losing your money from the mobile digital wallet would have been greater, since they only gave you 3 days to withdraw your funds or transfer it to a trusted person.

In the case of affiliates with BCP debit card, changes completely. With almost around 13 million Peruvians using the Yape fintech service, a historical record in the world of Peruvian finance, affiliates are 100% creditors of a type of BCP card. This means that their cards have a receipt that we describe in this article in La República.

What happens if I delete my Yape account?

In short, the consequences are zero: absolutely nothing happens. You will not lose your money, nor your bank account, much less will your phone be disabled from making transactions via BCP Mobile Banking.

In this case I bring you good news: nothing happens, absolutely nothing. You will not lose your money, you will not lose your bank account, much less your cell phone, and your account will not be prevented from using Yape again. What does change (and delay) is why you have decided to eliminate Yape. Here we explain some aspects:

• Due to theft: If you have unfortunately been the victim of a robbery, the first thing you should do so that money is not stolen from your Yape is to contact the BCP as quickly as possible and block your account. If your wallet and cell phone were stolen, block your card. You won’t lose money; Although if you are going to renew your card, the cost is 20 soles per salary account.
• Do not use Yape: In this aspect nothing will happen either, you just have to delete your account via the app by entering ‘Menu’, then ‘To my account’, go down and click on the ‘Delete account’ option.

Remember that every holiday, Saturday and Sunday you can complete your procedure without any setback, since the app will not stop working.

What would have happened if I had a Yape account for DNI?

In 2021, Yape announced its new innovation in terms of incorporation into its mobile financial system: the DNI as a digital wallet. This important milestone was recognized in the CADE Executives 2021 and was awarded as one of the best ‘companies that transform Peru’. It had successful results, as it welcomed one million more Peruvians, who used the app without the need for direct affiliation with the bank. However, on April 1, 2022, the BCP decided to close this possibility.

But, what would have happened if I no longer wanted to belong to this type of ID affiliation? Would I lose my money by not having a savings account? How was it claimed?

In that context, Yape gave two options:

1. The money you had accumulated would not be lost for up to 3 business days. The app contacted you between those days to tell you that you can withdraw your money through an agent or by asking someone you trust to safeguard it.
2. If you had not claimed your money within three business days, it was lost.

On this last point, the BCP app did not indicate what would happen if the money was not claimed after three business days.