There are two payment methods available on Cowrywise. These payment options are flexible for use based on preference.
You can save and invest with bank transfer and direct bank debit.
Direct Bank Debit Payment Method
You can link your bank account to make payments directly from your bank without using a debit card
Follow the steps below to link your bank account;
On your homepage, click on your profile picture
Tap on Payment and tap on the + icon to add your account
Tap on the account you’d like to link; you’ll see if it’s linkable (not all banks currently allow this feature)
Tap on the Link Account button and provide the information requested
Proceed and, we will generate an account for you to pay a fee of NGN50 (pay exactly NGN50 or N100 immediately - Use your mobile banking app, please)
Once done, hold on for your account to be authorized, the process typically takes 24-48 hours.
Please note that your linked account will be debited for your automated savings or investments.
Bank Transfer Payment Method
The bank transfer payment method enables you to save and invest on Cowrywise.
To create a savings plan, here are the steps to follow;
On your home page, click on 'Save'
Select the plan in particular under Save by myself or Save with others
Choose how much you want to start with and proceed
Afterwards, select the frequency you want to save for or select 'just this once'
Choose how long you want to save
Click on 'Continue' and follow through with the steps.
Proceed to pay into the account within the stipulated time through your mobile banking app or USSD.
Once that is done you can, thereafter top up your savings plan via bank transfers.
Subsequently, to fund your savings via bank transfer;
Click on TOP UP on the homepage (just below your total balance)
Click on My savings
Choose the plan and amount you want to save
Click Switch to go to the bank transfer option
A virtual one-time bank account number will be generated for you to transfer to
Copy it out and make the transfer to it from your bank's mobile app or using your bank's USSD transfer code
After making the transfer, click on "I have paid to confirm the payment"