Cowrywise is a financial company that was established in 2017 with the aim of reducing the process of savings. And this is done through Cowrywise’s automated savings platform and several investment platforms which include mutual funds and money market funds.
Cowrywise is one legitimate platform for you to save and invest your money. It is also in partnership with several investment companies in Nigeria such as Afrinvest and Meristem to make the process of investment much easier for their customers.
What is Cowrywise?
Cowrywise is a savings and investment platform that is developed to help people with the right tools to properly manage their finances. This platform was created to make investment and periodic savings easier.
It also allows users to monitor their investments, savings, and net worth. It is not easy to develop a saving habit because this requires time and consistency. Furthermore, Cowrywise also gives financial tips and also has lots of investment opportunities.
How Does Cowrywise Work?
Cowrywise provides a wide array of mutual funds in the country to its customers through partnerships with investment firms. These include well-known firms such as Afrinvest, United Capital, Meristem, and Lotus Capital.
This range enables customers to diversify their investment portfolio according to the goals they set. The funds are also under supervision to make sure that the customers get the optimum returns. To get started all you need to do is to sign up for an account.
Cowrywise Products
Cowrywise offers lots of products for both investment plans and savings and these are a great way for you to get started with Cowrywise. They offer lots of products for you to choose from and they include:
Saving Plan
Savings can be much more than just storing money. You can automate your savings and earn a decent return. There are no fees and no penalties. Saving with Cowrywise is absolutely free.
Regular savings
You can save money on your own terms for a minimum of three (3) months and you will also be rewarded for your discipline.
Money Duo
This is a long-term savings for couples. There are no lockups and there is also transparency of funds.
Halal Savings
You can save money with automation and without automation. There is also no riba and there is also no interest. This saving plan is suited for Muslims.
Saving Circles
You can set your targets and save together with other people to meet them. There is also a reward for this.
Investment Plans
Users can invest any amount of their income on a periodic time in Nigerian mutual funds and also get returns. This is very easy. You don’t need so much before you can start investing because Cowrywise empowers you to start investing from graduates to entrepreneurs to professionals.
Mutual Funds
These are investment arrangement that gets pool funds from various investors. Then the pool of funds is later invested in a mix of chosen instruments. You can invest any that you want and you will also receive guidance on the funds that work for you. You can also keep track of your investment performance and there are no long forms.
Embed API
This feature is for businesses and it enables them to embed investment features into your services and also connect your customers to high-quality products that will allow them to grow and also manage their money.
Sprout
This is a modern treasury management that is specifically designed for business. Along with making an investment much easier for individuals.
Sprout is also a central platform that is focused on helping several businesses invest their spare money easily and earn better returns. Users can also get easy access to safe, low-risk, flexible, and business-friendly investments from top fund managers.
Triggers
This is a smart, automated, and revolutionary way to save and invest. With this feature, you can save and invest when you tweet. Each time that you take a predetermined action, you will be investing in the condition you set.
These are the several products that Cowrywise has for their users. They make investment and savings much easier for their customers.
Is Cowrywise Safe?
Cowrywise is a legit platform that is also a registered FinTech company in Nigeria and this makes them legal. Cowrywise also has a professional team of investment professionals who invest their savings funds in several financial investments and also manage these funds with the sole aim of getting returns for customers.
The assets of Cowrywise are held by Meristem Trustees and this is registered under the Securities and Exchange Commission on behalf of the saver.
The duty of Meristme Trustee is to make sure that your funds are secured and they also ensure that Cowrywise invests the funds in what they promised to invest in.
How to Sign Up For Cowrywise
Signing up for a Cowrywise account is very easy and within a few minutes, you will be done. You can sign up on the official website of the mobile app. Here is how to sign up for a cowrywise account:
- Connect to the internet.
- Open the web browser and visit Cowrywise’s official account www.cowrywise.com.
- On the homepage, click on Sign Up For Free located at the top right corner of the page.
- You will be taken to another page.
- Enter your email address.
- Tap on continue.
- Enter the code sent to your email.
- Tap on the Continue button.
- Enter your first and last name.
- Enter your phone number.
- Create a password.
- Tap on Create Account.
After clicking the create account, you will be taken to your account and you will be able to complete the account opening process.
How to Login To Your Cowrywise Account
If you want to login to your account you will need your email address and password. Here is how to do it:
- Connect to the internet.
- Open the web browser and visit Cowrywise’s official account www.cowrywise.com.
- On the homepage, Tap on the Log In button.
- Next, tap the Sign In.
And there you have it. After following the steps above, you will be able to log in to your Cowrywise account.
How to Make Money on Cowrywise
Currently, there are three (3) legit ways that you can make money on Cowrywise. These ways are legitimate and they are approved by Cowrywise itself. If you are searching for a genuine way to make money, then you can try out some of the legitimate ways to make money on Cowrywise and they include:
Earn Interest on Saving Plans
When you save money on this platform, you will earn better interest than the traditional bank. The duration of your savings will determine the percentage of interest. Here is the interest rate:
- 3 months- 5.50% p.a
- 6 months-6.50% p.a
- 9 months- 7.50% p.a
- Above a year- 8.50% p.a
These are the interest rates and they are determined on how the market is performing currently. This makes sure that on Cowrywise, the customers’ interest rates will always be paid.
Earn Returns on Your Investment
The only investment on Cowrywise is mutual funds and they are separated into moderate, conservative, and aggressive funds. Customers can earn fixed annual returns on conservative funds while on moderate and also aggressive mutual funds, they can earn through capital appreciation.
Earn Through the Referral Program
One legitimate way to make money on Cowrywise is through a referral program. When users refer a friend to use Cowrywise and they invest an amount of N5,000, both of you will get one fee waiver on any investment transaction.
These are only the legitimate way for you to earn with Cowrywise. Be careful not to fall for other Ponzi schemes.
Cowrywise App
Cowrywise has an official mobile app that makes it much easier for its customers to access the platform. This mobile app is available on the Google Play Store and the Apple App Store. It is also compatible with all devices. If you want to download the app, you can follow the steps below:
- Launch the App Store on your device.
- Use the search bar to find the Cowrywise app.
- Click on the download button.
- The app will then be automatically installed on your mobile device.
And there you have it. After downloading the mobile app, you can sign up for an account or if you have an account you can log in to your account.
Cowrywise Customer Care
If you want to make an enquiry about Cowrywise services you can reach out to their customer care team. They are on standby 24/7 and they are ready to answer any questions that you have regarding Cowrywise. You can visit their official website at www.cowrywise.com to get their customer care line.
FAQs
How Long Does Cowrywise Withdrawal Take?
It takes up to 24 hours for you to withdraw from Cowrywise. As soon as the funds are in your Stash, you can instantly request a withdrawal into your bank account. Note that the value for sold units is also reflected in your Stash between a day or two after sales, while the withdrawal to your bank account settles after a day.
Is It Safe To Invest in Cowrywise?
Yes, it is. The platform was designed with security in mind. All the customer’s important data is encrypted and rendered unreadable and also safely stored. They do not keep the customer’s card information because they work with PCI-DSS-compliant payment processors to take care of all their customer’s card details.
Which is Better; Cowrywise or Piggyvest?
If you want a platform that has a straightforward and easy interface along with a wide array of investment options, then you can choose Cowrywise. However, if you need a platform that provides a selection of savings plans and a trusted interest rate, then Piggyvest is the right option for you.