The KoloPay withdrawal requirement is very simple, all you need is to have a verified bank account from any of the money Deposit Banks in Nigeria where the transfer will be made into.
On the contrary, your balance must exceed 3000 NGN to be able to meet up with the KoloPay withdrawal requirement.
How to Sign Up On KoloPay App
To Sign Up on KoloPay, the following Steps should be followed:
- Get your KoloPay App Downloaded from Google Play Store
- Click on “Sign Up Now”
- Enter your Full Name alongside your Email Address
- Create and confirm password (must be at least 8 characters)
- Select Your gender
- Confirm you are not a robot
- Click on “Register”
- A pin or link will be sent to your phone number or mail address as the case may be, for verification. Use or click on it to activate your KoloPay App instantly.
Interestingly, you will be assigned a bank account number from a Nigerian deposit bank, upon completing your registration online, and any money deposited into the account number, automatically enters your KoloPay savings.
KoloPay has two distinct savings plans namely: Autosave and EasySave.
How To Save Towards A Goal on KoloPay AutoSave
- Log into your account on the already downloaded KoloPay Mobile App
- Click on “AutoSave”
- Choose what you are saving towards (It could be car, Wedding, Rent, school fees or any other project)
- Select the frequency of your savings (whether it will be daily, weekly or monthly)
- Select the amount to be saved periodically
- Choose start date (the first day you want to be charged)
- Enter withdrawal date.
- Select “Lock Goal”
- Check the box to agree to the savings terms and conditions
- Verify card details
Moreover, you are entitled to a 10% interest rate only if you choose to lock your Goals. Also, a withdrawal is not possible on this condition until your due date.
How To Save Towards A Goal On KoloPay EasySave
- Log into your KoloPay Mobile App
- Click on “EasySave”
- Choose what you are saving towards.
- Enter Goal Amount
- Enter withdrawal Date
- Lock Goal (optional)
- Check the box to agree on the terms and condition
- Click on “Create EasySave Goal”
KoloPay Payment Methods
To save on KoloPay, you can use any of the following payment methods below:
Pay With Card
Here, you are requested to input your chosen bank Card information. However, you may choose to save the card for faster checkouts.
Pay with Transfer
On Pay with Transfer, you can comfortably transfer money into the provided account details anytime. Nevertheless, Pay With Transfer is not supported for transactions less than 100 NGN.
Pay with USSD
A code will be generated from a KoloPay partnered bank for the transaction to be completed.
Pay With Visa QR
Selecting this option will grant you the opportunity of scanning the QR Code using either Ecobank, FirstBank, Fidelity, Access, Diamond, Paga or Zenith Mobile App to complete the Payment.
Pay With Bank
With this option, you can only choose from any of Guaranty Trust Bank, Kuda Bank or Opay digital Service Limited
Is KoloPay Safe?
KoloPay is Safe because it is secured by Paystack. Paystack is a choice payment processor for some of the fastest-growing businesses in Nigeria.
KoloPay Withdrawal Fee
Withdrawal made before the set due date will attract a 5% penalty.
