What is a Cooling Off Period and when is it implemented?

Cooling Off Period (COP) is a 12-hour waiting period as a security measure to prevent any unauthorised access to your GX Savings Account. The Cooling Off Period may be triggered when you login after performing any of the following activities: 

• Chosen to remove your account from your device.
• Reinstalling the GXBank app on your device.
• Factory reset on your device.
• Clearing your device's cache and data.
• Your device encounters security scan issues

The 12-hour cooling off period will restrict the following activities due to security restrictions:

• Manual debiting transactions, eg. sending money to another bank, or any online transaction
• Loan drawdown
• Subscribing to insurance

Please do not delete the GXBank app, factory reset the device or clear the device cache and data before you remove the account from your device.