Cancellation Policy

Leap Financial Services (Pty) Ltd (registration 2026/611454/07, registered credit provider NCRCP pending) provides short-term credit. What you enter into with Leap is a credit agreement, not a purchase, so cancellation works differently to cancelling an order. This page explains your options at each stage.

Before your loan is paid out

You may cancel your application, or decline an approved offer, at any time before the money is disbursed — at no cost and with no fees or interest owing. Simply email support@leap-fs.com and we will close the application and cancel the associated debit order mandate. A quote that you do not accept simply lapses after its validity period.

Early settlement after disbursement

Once the loan has been paid out, the debt cannot be "cancelled", but under the National Credit Act you may settle it early at any time. The settlement amount is the outstanding principal plus interest and fees accrued up to the settlement date. Leap does not charge an early-settlement penalty on short-term credit — settling early means you pay less interest and fewer monthly service fees.

Request a written settlement quote from support@leap-fs.com. The quote sets out the exact amount and the date it is valid until. Once payment reflects, we close the loan, stop all further debit orders and issue you a settlement confirmation.

Cancelling your debit order mandate

Your debit order mandate is the instruction that lets us collect your instalments. It is separate from the loan itself. Cancelling or reversing the mandate does not cancel your debt: the outstanding balance remains payable in full, and missed instalments will attract interest and may place your account in arrears, which is reported to the credit bureaux.

If you need to stop or change a debit order — for example because you changed banks or your pay date moved — contact us at support@leap-fs.com first so we can update the mandate or arrange an alternative payment method with you. If you are struggling to pay, tell us early; we can discuss a payment arrangement rather than letting the account fall into default.

How to cancel

Email support@leap-fs.com with your ID number, your loan or application reference and what you would like to do (cancel before payout, request a settlement quote, or change your debit order). Email is our only support channel. We acknowledge requests within one business day.

Your statutory rights

This policy operates within the National Credit Act 34 of 2005 and does not limit or override any statutory right you have as a consumer. Unresolved complaints may be referred to the National Credit Regulator or the Credit Ombud at no cost to you.