You can close your main Lightyear account and your TBSZ separately, and each works a little differently. Below you’ll find the steps for both, along with what to know before you do so. For both account types, note that as a financial regulated institution, we store submitted personal data and associated account information for at least 5 years after closure.
I want to close my main account
To close your main account, make sure it holds a zero balance – this means no cash or financial instruments and no pending orders. Accounts can only be closed once all funds have been fully withdrawn to your personal bank account. Keep in mind that you won't be able to open a new account later on – if you want to come back, we’ll need to reactivate your previous one.
If you have a TBSZ, you'll need to close it before you can close your main account.
How to close my positions and withdraw funds?
- To close an entire position in the app, select “Sell”, choose the selling format “Number of shares” and tap “Sell max”.
- Make sure to cancel any pending orders – you can check and manage them in the Transactions tab.
- When withdrawing your funds, if you don't have a personal bank account in the currency you currently hold your funds in, you may need to convert them before withdrawing. If a currency conversion takes place, please note there is an FX fee of 0.35%. See Everything about withdrawals for more.
My account balance is zero. How do I close it?
On mobile, navigate to your profile in the top left corner, select the three dots on your account and then “Close account”.
On web, navigate to your profile in the top right corner, select Settings and then "Close account".
Can I reopen my main account after closing it?
Yes. Just reach out to us from your verified email address below this article, and we'll sort it out for you.
I want to close my TBSZ account
To close your TBSZ, first close all your positions and withdraw your funds. The app will guide you through the process when you initiate a transfer out to your main Lightyear account. Closing your TBSZ doesn’t affect your main account, which stays open. We'll send you a TBSZ tax certificate on 31 January of the year following your account closure.
Before closing, keep in mind that withdrawing from your TBSZ before the 3 or 5-year marks affects your tax relief. See TBSZ (Tartós Befektetési Számla) for the applicable tax rates and more information on this.
Can I reopen my TBSZ after closing it?
No. Unlike your main account, a closed TBSZ can't be reopened, and you can't open a new TBSZ with Lightyear in the same collection year (the calendar year in which you activated the account you closed). You can open a new TBSZ in any later calendar year and it will be a completely separate account, with its own collection year and 5-year period.
To close a business account, please contact our team below.