How to leave myPOS

Contract specifics

Notice period

No notice period on processing; pay-as-you-go. Closing the myPOS e-money account follows myPOS's standard closure process.

Exit fees

No exit fee on processing. Hardware (myPOS Go, Mini, Pro, Carbon) is bought outright. myPOS charges an inactivity fee on dormant accounts and a fee for outbound transfers in some scenarios; check the current fee schedule before closure.

Terminal return

Nothing to return. Hardware is yours but ecosystem-locked; it cannot be re-paired with another acquirer.

What typically happens

Most leavers stop processing, transfer the residual balance from the myPOS account to a UK business bank account, then request account closure via the myPOS support portal. Outbound transfers can carry a fee depending on currency and destination; consolidate the balance before requesting closure to avoid multiple fees. Closure is typically confirmed within 10 to 15 business days.

Where merchants typically move

• Dojo Go (mainstream hospitality and retail)
• SumUp Solo (small / mobile)
• Square Terminal (independents)
• Specialist high-risk acquirers if myPOS was being used for borderline-vertical acceptance

Watch outs

• myPOS hardware is ecosystem-locked; budget new hardware on the new acquirer.
• Inactivity fees can erode a residual balance left in the account; transfer out before closure.
• Outbound transfer fees vary by currency; consolidate to GBP before transferring.
• If myPOS was being used for high-risk-adjacent acceptance, the new acquirer needs to be vetted for the same vertical; mainstream UK acquirers will decline some of these merchants.
• Disputes raised before closure can land after; keep the email on file monitored.