Cowrywise is a Nigerian wealth management app that offers easy access to the largest pool of mutual funds in the country.
The app, licensed by the SEC, aims to democratize access to savings and investment products for the underserved African middle class and millennials.
With over 700,000 personal accounts, Cowrywise has 19 SEC-licensed mutual funds and at least 20% of the total mutual funds in Nigeria listed on its platform.
The app also includes financial planning tools and a digital wallet for easy use.
Cowrywise aims to advance financial inclusion and empower customers with powerful wealth-building tools.
Cowrywise Money Withdrawal Process
• Click the “Save” tab and choose between normal and Circles to start a withdrawal.
• To take money out of your hoard, Click the transfer to stash and withdraw to stash buttons
• Withdrawals from locked savings plans are possible on or after the plan’s selected maturity date.
• You will earn higher daily returns the longer your plan is locked in.
• To make a withdrawal from Stash,
- Visit the Stash page
- Choose the “withdraw” option
- Click “Got it,”
- Choose the bank to which you want to make the withdrawal
- Enter the desired amount, and confirm with your Cowrywise PIN.
• After it is started, the withdrawal will be processed 24 hours later.
Can I receive my money from Cowrywise prior to the date of maturity?
You cannot withdraw your money until the maturity date; it is invested safely throughout this period.
By taking this strategy, you can make sure that your savings have enough time to grow and yield returns.
This will raise the possibility that you will meet your long-term financial objectives.
Possibility of Growth
Cowrywise has bright growth prospects because mobile phones and internet access are becoming more widely used.
The market for investable assets in Nigeria is about $80 billion and is expanding at a rate of 20% annually.
Cowrywise appears ready to seize this expansion in the market.
The assets under management have topped eight million dollars and have been expanding at a rate of twenty percent per month.
By 2025, the team wants to provide 10 million Nigerians with access to top-notch financial management resources.
The process of withdrawing money out of a locked savings plan
Cowrywise provides a locked savings plan where money is committed for a predetermined amount of time, up until the maturity date.
This preserves discipline while guaranteeing long-term growth.
Additionally, the business provides instant access to funds for emergencies through its Emergency Plan.
In an emergency, the Emergency Plan permits withdrawals, and Cowrywise regrets any inconvenience this may have caused.
Creating a safe, orderly savings environment is the aim in order to achieve long-term financial success.
Is it possible for me to lose money using Cowrywise?
Obviously, you can. Because Ponzi schemes have distorted people’s perceptions of investments, many Nigerians believe that investments can only increase in value.
In real life, where the majority of us reside, investing can sometimes result in losses in addition to profits
How can I use Cowrywise to reset my maturity date?
The maturity date of your plan and how it affects withdrawals are important principles to grasp while managing your savings plans on Cowrywise.
Cowrywise do not currently permit backdating or lowering a savings plan’s maturity date from its current date to a prior date.
How can my maturity date be extended?
The Borrowers may request a 364-day extension of the Maturity Date, and the Bank may, at its sole discretion, grant such an extension.
The Borrowers may submit a request for an offer of extension no later than thirty days or more before the Maturity Date.
