How To Save, Invest & Withdraw Money From Cowrywise

Cowrywise is one of the fastest rising savings, investment and make-money App that has already won the hearts of many Nigerians. This post is exclusive for members looking for how to withdraw money from Cowrywise, again, you will know more about saving and investing with Cowrywise.

Making money requires a lot of hard work but you have to be able to discipline yourself and save money otherwise, you can make one million today and go broke again after just a few days.

There are so many legit paying apps to earn money online in Nigeria. However, there are few or no apps to save money after earning.

Cowrywise is a cool platform that provides users with the opportunity to double their income by earning, saving and investing money in the App.

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Before moving further into how to withdraw money from Cowrywise, let’s quickly understand more about Cowrywise, how it works and how one can earn money from the App.

About Cowrywise (Review)

Cowrywise is a money management platform for Nigerians, it is similar to platforms like Piggyvest, both platforms gives the opportunity for members to easily plan, save and invest their money seamlessly.

Just like most Fintechs in Nigeria, it gives people access to savings and investment options from any internet-enabled device.

The digital savings and investment platform makes automated savings and investments very easy for its users. It offers different savings and investment plans to customers, like automated savings, Naira and dollar mutual funds investments.

Again, Cowrywise secures its user’s funds with Meristem Trustees via a trustee Agreement. All activities of the platform are in full compliance with regulatory requirements for the ultimate protection of clients.

When you save with Cowrysie, you are assured of legitimacy and transparency. The platform enables 2FA for security purposes to enable you to secure your savings wallet.

Most interestingly, you will also get a high return on investment once you have reached your withdrawal date.

Before moving into how to withdraw money from Cowrywise, let’s understand the owners.

Who Owns Cowrywise?

Cowrywise was launched in 2017 and is owned by a group of three, Feyisayo Shonubi. It was created to be a wealth management platform for young Africans.

Statistically, Cowrywise has currently raised a total of $3.3m from around 8 investors both locally and internationally.

Is Cowrywise Approved by CBN?

It is important to note that Cowrywise operates independently of banks and is not owned by any bank. CBN can regulate banks.

Cowrywise is a fund manager duly registered with and regulated by the Securities and Exchange Commission (SEC) of Nigeria to carry out activities related to savings and investments.

How To Invest, Save & Make Money On Cowrywise

How to invest in Cowrywise,

Cowrywise offers a wide range of products Saving & investment plans, Mutual funds, Stash Circles and lots more.

1. Saving

Saving can be much more than storing money. On Conwrywise, you can automate your savings and earn awesome returns.

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There are no penalties, no extra fees attached when you save money on Cowrywse.

With just one account, you can save in multiple different ways such as;

Regular Savings

With regular savings, you can save money on your terms for a minimum of 3 months. In the end, Cowrywise will reward your discipline with juicy returns.

Life Goals

On the life goals feature, you can have long-term savings for life’s important goals, again, you will be given a minimum period of 1 year to save money and get amazing returns.

Halah Savings

Halah savings allows you to save money with or without automation, free of riba, absolutely interest-free.

This saving feature is best for Muslims who do not want interests, in the end, it is a purposeful plan built to comply with Islamic law.

Saving Circles

The saving circles involves teaming up in a group and driving towards a set target. As a group, you can set targets and save together with others to meet them. Juicy returns await you once you save well.

2. Investing

On Investing, Cowrywise makes it possible for anyone to invest any amount in Nigerian mutual funds and get returns, the process is fast, sweet and easy.

Becoming an investor on Cowrywise requires just a little, you do not need a billion Naira to be an investor.

Cowrywise App is designed to empower anyone to start investing; entrepreneurs, fresh graduates and busy professionals all find it easy to invest using Cowrywise.

3. Mutual Funds

Mutual funds are investment arrangements that pool funds from various investors. This pool of funds is then invested in a mix of carefully selected instruments.

For example, a mutual fund can invest your money in a basket of stocks. Before investing with a mutual fund, pay attention to what the fund invests in.

To make money from  mutual funds;

You will have to invest with a mutual by purchasing units of the fund. Think of it as owning houses in an estate. Just as house owners earn through rents, units also earn returns.

These returns come in two forms;

  • Periodic distribution
  • Capital gains

With periodic distribution, if the annual rate is 10%, for instance, you’ll earn a daily breakdown of that on each unit you own. This can then be distributed on a quarterly, bi-annual or annual basis. This applies majorly to mutual funds that invest in money market instruments like treasury bills. Such funds are generally low-risk

On the other hand, capital gains happen with changes in unit prices. For example, if you buy a unit at ₦1,000 and it changes to ₦1,100 within a year, it has gained 10%.

This applies more to funds that invest in bonds and stocks. They are categorised as medium and high-risk funds.

Conclusively, Mutual Funds are safe to invest in as they are regulated. The Securities and Exchange Commission (SEC), which is the regulatory body for investments, oversees their operations.

4. Stash

Your Cowrywise wallet is otherwise called Stash. Stash enables you to send and receive money on Cowrywise.

With a dedicated bank account number, you can receive instant money transfers from anyone, make instant transfers to anyone using their Stash username all for free.

You don’t need a bank account because your Stash account number can only be used to fund your Stash. Again, you can send money to other Cowrywise users with their Username. However, you cannot send money to bank accounts that are not linked to your BVN.

Cowrywise Affiliate Program

You can make cool money by referring people to join Cowrywise via your link. You will stand a chance to earn huge commissions if you can convince people to join the platform.

Before leveraging on the Cowrywise Affiliate program please understand that Cowrywise doesn’t pay you returns based on your referrals, you earn returns from actual investments, that is; your funds are invested in secure instruments like treasury bills and government bonds.

Every member of the Cowrywise family has a unique referral link, get your link from your dashboard and use it to bring your friends under you.

Alternatively, you can use the unique code. Your friends need to input it under “Invite Code” while signing up. Everyone who uses your referral link also earns a bonus. No one is left behind.

In summary, referrals or not, you’ll earn because your funds are invested. Referral bonuses are just extra toppings.

How Much Can You Earn From Referral Bonuses On Cowrywise?

For a start, you earn 250 for every successful referral you make. Those you refer also receive the same amount and at the end of the day, your earnings will be paid into your Stash every month.

A referral is successful after the person you refer has made their first deposit. After that, you both earn bonuses.

Campus Ambassadors

As a campus ambassador, you are part of an elite group of the Cowrywise family. This extraordinary commitment comes with a great offer, it includes a fantastic welcome pack, access to high-profile events and personal development courses.

Also, as a campus ambassador, you earn 350 per referral. The proceeds are paid into your Stash every month. Sounds like an excellent way to make extra cash, doesn’t it? Would you like to be a campus ambassador? Apply here.

Corporate Ambassadors

As a corporate ambassador, you get rewarded for sharing Cowrywise with your colleagues at work. You also get free access to exclusive events, early access to amazing Cowrywise features, and enjoy sponsored event collaborations.

Finally, you’ll earn N500 per referral. The proceeds will be paid into your Stash monthly.

How To Register On Cowrywise

Registration on Cowrywise is absolutely free of charge. You can signup here then proceed by downloading the mobile app which will guide you on the other steps to take.

How To Withdraw Money From Cowrywise

Here comes the big question; “How to withdraw money from Cowrywise”

You can only withdraw at the set maturity date, you can choose to withdraw some or all of your savings together with your interests. Furthermore, you can also decide to roll over the plan for another period or withdraw part or whole.

Rolling over matured plans for another period makes it possible to enjoy compound returns.

Withdrawing your money is quite simple and withdrawals are settled almost instantly.

Follow the steps below to withdraw money on Cowrywise.

  1. Access your Cowrywise account.
  2. Select your matured plan (The plan due for withdrawal)
  3. Click on “withdraw”.
  4. Enter the amount you want to withdraw
  5. Select the withdrawal destination, you can either withdraw directly into your bank or stash wallet.
  6. Set a new maturity date.
  7. Finalize your withdrawal.

Any funds left will be kept in the plan till the new maturity date you set.

Now you know how to withdraw money from Cowrywise!!

Cowrywise FAQs

Below are some Frequently Asked Questions on Cowrywise members should know

How Much Does Cowrywise Charge?

Cowrywise is completely free for locked savings. Our payment partners take processing charges for investments into mutual funds and emergency funds. They’re quite minimal.

Is Cowrywise Safe?

Yes, Cowrywise is safe. It Cowrywise was built with your security in mind, critical customer data is encrypted, rendered unreadable and then securely stored. We do not store your card information as we work with a PCI-DSS-compliant payment processor to handle all our customers’ card details.

How Much Can I Save On Cowrywise?

You can start your saving plans with as low as ₦100 (One hundred Naira). We do not have an upper limit. You have a billion Naira you want to save with us? Please go ahead.

How Long Can I Keep My Savings With Cowrywise?

There is a minimum duration of 90 days and no maximum time limit, you can keep your savings and investment with us for as long as you wish. Cowrywise makes every day count by making your plans earn returns daily.

How Does My Earning Accumulate on Cowrywise?

For every plan created on Cowrywise, there is a maturity period assigned to it. For each maturity period range, there is an attached interest rate.

Remember, Cowrywise make every day count by making your savings earn returns daily. This is done by prorating the annual interest rate attached to your plan. That is, a daily breakdown of the annual interest rate is paid on the available balance in your plan(s) each day.

Also, as big fans of compound interest, your returns compound annually or whenever you roll over your plan after maturity.

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When Does Savings Begin To Earn Returns?

Your plans start to earn returns the following day after you begin saving on Cowrywise and on daily basis thereafter.

Your daily returns are credited to your Cowrywise account by 12 midnight each day.

How much can I save on Cowrywise?

You can start your saving plans with as low as ₦100 (One hundred Naira). We do not have an upper limit. You have a billion Naira you want to save with us? Please go ahead.

How Long Can I Keep My Savings and Investment With Cowrywise?

There is a minimum duration of 90 days and no maximum time limit. You can keep your savings and investment with us for as long as you wish. We make every day count by making your plans earn returns daily.

How Do My earnings Accumulate on Cowrywise?

For every plan created on Cowrywise, there is a maturity period assigned to it. For each maturity period range, there is an attached interest rate.

Remember, Cowrywise make every day count by making your savings earn returns daily. This is done by prorating the annual interest rate attached to your plan. That is, a daily breakdown of the annual interest rate is paid on the available balance in your plan(s) each day.

Also, as big fans of compound interest, your returns compound annually or whenever you roll over your plan after maturity.

When Does My Saving Begin To Earn Returns?

Your plans start to earn returns the following day after you begin saving on Cowrywise and on daily basis thereafter. Your daily returns are credited to your Cowrywise account by 12 midnight each day.

Can I monitor My Savings and Returns?

Yes, this can be done, You can monitor the progress on your savings and investment plans and returns on daily basis on our easy-to-understand dashboard.

On the dashboard, you can view the following;

  • Balance: a sum of your current savings and current returns.
  • Current Savings: the total amount of savings you currently have in your Cowrywise account.
  • Lifetime Returns: the total amount of returns you’ve earned since you create a Cowrywise account.
  • Current Returns: the total amount of returns you are yet to withdraw.

Also, Cowrywise gives push instant notifications to your verified email address and phone numbers for key transactions on your Cowrywise account, so nothing goes unnoticed or unapproved by you.

Cowrywise Customer Care Contact Number

You can contact this company’s customer care by mail: support@cowrywise.com or by Whatsapp: +234 903 0000 857 or calling +234 802 2212 229.

Conclusion: How To Save, Invest & Withdraw Money From Cowrywise

In conclusion, Cowrywise gives every Nigerian like you and me the opportunity to invest and save money. The Cowrywise affiliate program is another exciting feature that enables you to earn money by referring friends to join the platform through your link.

I hope this guide has been helpful, taking you through how to save, invest and withdraw money from Cowrywise.

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