Piggyvest is an online platform for saving and investing money. It started in 2016 as Piggybank and they eventually rebranded to become Piggyvest.
I will be reviewing the app and what you need to know before signing up.
There is an Android and an IOS app, and you can choose to use the website if you\’re not a fan of app downloads or use a PC.
How Does Piggyvest Work?
The whole concept is Piggyvest is more like a digitized and automated version of the Kolo box. You know? Where you throw in those small-small money you\’re not using so you can break the box at the end of the year.
However, in this case, you automate the whole process and can instruct Piggyvest to collect money from your account periodically – could be daily, weekly or monthly.
You can only access the money on a particular day and if you choose to break the savings before then, there will be a charge which will serve as punishment.
Some of the features in the Piggyvest app include:-
Where you save towards a cause, ie to get a car or pay your rent.
With this, you can invite your friends to save towards a particular goal.
You lock your funds so you can only access them at a particular day.
With Investify, you can grow your money in Naira or US dollars.
Is Piggyvest Safe?
Yes, Piggyvest uses a high degree of security and is approved by agencies like NDIC in charge of Fintechs. It operates as a microfinance bank and is regulated by the Central Bank of Nigeria.
Your BVN is safe with them and your funds are insured.
How To Invest Or Save Your Money With PiggyVest
To invest or save your funds with Piggyvest, here are the steps to take:-
- Visit the official website and create an account.
- Do the necessary verifications and submit the required documents.
- Fund your account either by transfer or credit card. Make sure the name on the account is what you\’re using to fund to avoid issues.
You can choose to lock the funds or invest in the app, and you make ₦1,000 for each person you refer to sign up.
How Can I Withdraw My Money From Piggyvest?
Withdrawal is even much easier than funding the account.
Once the day has reached, you can withdraw directly to your Flex account and straight to your bank account.
Any withdrawals aside from that day will attract a charge.
However, money made from referrals are paid directly to the Naira Flex account can be withdrawn anytime.
Piggyvest is one of the trusted savings platforms for Nigerians and you can even choose to save/ invest in dollars to escape inflation.
It is also approved by the NDIC and run as a microfinance bank under the CBN.
Do you have any issues using the app? Is there any good news you would love to share?
You can drop us your comments below.