There are two payment methods available on Cowrywise. These payment options are flexible for use based on preference.
You can save and invest with your debit card or bank transfer.
Card Payment Method
The ease of automation can be activated using this method. Such that, you can set your plan as daily, weekly or monthly. You can also select the specific day of the week or month you want.
We recommend using a Mastercard or Visa card. Verve cards do not work so well for automated payments. However, you can give it a try.
Here are the steps to follow to add your card;
Click your profile picture on your homepage
Select Payment
Select CARD
Click the + sign
Add your card details
Save the details
You can automate your savings after adding your card to enable automated savings into your plan. You can do this by following the steps below:
Click on Save on your homepage
Select either Regular savings/Savings circle/Emergency plan
Click on the preferred plan
On the plan page, click on the three dots at the top right corner.
Turn on the button in front of the automation status
Follow through and save changes.
Bank Transfer Payment Method
The bank transfer payment method enables you to save and invest on Cowrywise without the use of a debit card.
To create a savings plan without a debit card, here are the steps to follow;
On your home page, click on 'Save'
Select 'regular savings plan'
Choose how much you want to start with and proceed
Afterwards, select 'just this once' under how often and follow through
Once you select how long you want to save for, you'll see your card on that page; in front of it is 'change'
Click on change and select bank transfer
Select 'generate account' to get the account number to pay into
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"