cowrywise app

A Guide To Using Cowrywise In Nigeria

If you are looking to make a good decision about your finance, you can make headway with CowryWise.

The best way to prepare for the kind of future you have always envisaged is to take proper action now. Having the right money management could prove to be your saving grace at the end, especially when one does not know the period you will be in a dire need of money for emergency funds or purchases.

Even at that, we often ask ourselves, “How much money do I need to save?” This is going to be one of the trickiest questions, as spending habits do fluctuate from time to time.

For instance, January is believed to be one of the most difficult months in Nigeria. It is largely caused by two of the biggest festive seasons, Christmas and New Year, happening within a timeframe. Families do love to spend more than they can afford which may later become as the days go by.

Therefore, before setting regular money aside for saving or investing, take note of other happenings that might arise within such period such as children’s school fees, rents, subscription, etc unless the money is to take care of the pending bills. 10% to 30% of your regular income might be a good way to start, you can always increase as time goes on.

If you are too comfortable with the decision after your first try, you can adjust later. As a matter of fact, it would good if you can be able to avoid the lock feature on cowrywise.

What then is cowrywise?

Cowrywise is an online platform that let you save and invest without being subjected to interest rate common with commercial banks, instead you accumulate earnings. However, terms and conditions apply which will be carefully discussed on this page.


Cowrywise is suitable for anyone who is willing to take the bull by the horns and finally plan for the unforeseen future.

It could also be beneficial for people who have a specific goal they want to achieve within a set period of time.

People who believe money needs to be put into good use by investing or saving for aspiring business.

Customers who also need some aids provided by cowrywise will find the platform very efficient and valuable.

Cowrywise would help people cultivate the habit of saving part of their income and avoid bad spending habits.


Below are tremendous products you can access on cowrywise;


There is no better time to start but now, the extra money or part of your regular income can be stashed into cowrywise’s coffer to make up a sizeable amount.

It is no gainsaying when we say cowrywise is arguably one of the best savings and investment apps in Nigeria as it also helps you automate perfectly without going through the stress of sending money everytime you need to put some away. After your first set up, leave the rest to the Cowrywise and watch as your funds grow within a short period of time.

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With cowrywise regular savings plan, you have a choice to choose between the daily, weekly or monthly saving plan with each of the savings plans offering you a minimum of 3 months; that is the minimum you can keep your money on cowrywise savings plan is 90 days.

During this period, you have an option to save more than you earlier set up. This service is similar to a feature on PiggyVest called Quicksave option.


If you are planning for a specific objective, you will need to prioritize savings than spending most of your income. During that, savings will need to be a habit and you don’t want to break the chain.

The money you put aside on Cowrywise’s life goals plans can be used to start a venture you have always dreamed of, get your dream car, education or for home improvement. Whatever the reason why you might need to make such a commitment, cowrywise is not interested in the details but will try to help you achieve those long term financial goals.

On life goals plan, the minimum timeframe to keep money is for 1 year. Rollover and withdrawal are only available on the deadline.


Halal savings plan embossed the feature of life goals plan and regular savings plan except that it does not earn interest. The Muslim Brethren will enjoy this plan as it leans towards the belief and doctrines of their faith. This way, they will be able to enjoy all that technology offers without a dent on their religions since muslims hold the beliefs that any interest earned on stock, bonds or bank deposits are considered haram.

They often believe that it leads to an imbalance among the people which is considered unreasonable, hence “riba” which is also known as charged interest will not be entertained.

They can decide to set up for any special objectives like children’s school fees, rent fees, travel to mecca, plan weddings, or upgrade their home appliances. The savings will be locked until the expiry date of the plan.


Two heads they say are better than one but what of if you have more than two? Savings circle could help you fast track whatever you plan to achieve within a reasonable period of time.

With this plan, you can start setting up fund or invest with family and friends towards a particular goal. Having more than enough funds could be just what you all need to carry out those big plans. There are now about 4 categories to choose from; they are saving challenges, collections, donations and experiences.

The four different ways of Saving Circle explained briefly;

  1. Donations: if you have got a need to satisfy your humanitarian nature, but could not due to lack of money, you could call on one or more friends to help out with the project. With cowrywise, you will be able to pull it off along with the help of others. All they need is a little convincing and that what you call little could get a rise.
  2. Saving challenges: iron sharpens iron, so we always hear and how about confirming that using the cowrywise platform?
    Most people always find it difficult to make a decision about saving unless a friend or family is able to convince them, not just convince but also partake. This could be the kind of inspiration they need to muster effort for the daily, weekly or monthly savings plan.
    Everyone on board could save and get their money on the due date plus the full interest.
  3. Experiences Circles: When starting something big, there are always two sets of people involved, one is the Architect and the other is called the partakers.
    It is often difficult for the Architect to get people to pay for their years of experience and hard-work because of the hefty fees that is always slapped on the project. Those days are now over as Cowrywise App could help you set automated payments made in small portions for your customers, this way the burden is reduced for the customers or clients and the producer or maker also gets his or her own payment.
    As a participant, cowrywise make it easier for you by setting up automated deposits that will be clear those bills soon.
  4. Cowrywise Collection: If you have been in a group contribution before, then you should be able to understand how Cowrywise Collection works. The only difference is that the collection is not made public. This type of plan is good for investment clubs who wants to rally up money from members for investment purpose. It is also good for other types of project that involves group. However, if you select Cowrywise collection, no other person will be able to withdraw funds upon deadline other than the initiator.
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Now that you are about to make a decision about any of the plans. Let me get out some few facts about cowrywise plans.

Customers can choose to have several plans running at the same time with the withdrawal set on each of them. Nevertheless, the initiator will be unable to withdraw his or her funds until the maturity date. This is cowrywise way of helping you meet your specific financial commitments.

Whether you are saving more money or just a percentage of your income, you will be able to extend the deadline so as to build better financial freedom which gives more opportunities to carry out that great project you have always dreamed about. As mentioned earlier, you can top up anytime if you have some extra money to spare.

Do note that management fee applies which will be taken from the interest you earned. The fee will be clearly stated, a way of holding on to one of his guiding principles.


As an investor on Cowrywise, you are allowed to choose from the various investment options, your decision depends on how much of a risk taker you are. The higher the risk, the higher the return. Below are the rewarding risks on cowrywise;

1. Low Risk

Risk in this category is considered very safe and mostly money market funds. This type of fund is in line with the goal of maintaining the stability of the value of the asset. Trading is in commercial papers and treasury bills and investors get their profits from time to time.

2. Medium Risk

with medium risk, nothing is certain as it is likely to appreciate or depreciate. Medium risk could go on for long, and also has a reasonable and better return than low risk of investment. Cowrywise might invest in a lot of businesses, while still trying to ensure it gets returns. These businesses include bonds, property or stocks.

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3. High Risk

looking to make greater revenue with investment held by Cowrywise? High risk investment is where to put your money. Forget the term used in describing it, it is one of the safer investments as it will be thoroughly vetted by professionals. However, when it falls, the damages are almost noticeable.

If you are an investor who is looking to take the biggest cut admist the possible risks you are exposed to, then this is where to be. Example of high risk investments are initial public offerings, high yield bonds, venture capital and real estate investment trust.

Meanwhiile, you will have an option to choose from the pools based on your risk appetite. All that is needed is for you buy a some units of fund according to your preference.


  • If you own an Android device, go to Google Play Store on your phone.
  • Enter and tap “CowryWise” in the search bar.
  • Tap “install” to begin the automatic installation.
  • To install on an iPhone or iPad, simply check “CowryWise” on App Store and install it on your mobile device.


Having the backing of The Securities and Exchange Commission ( SEC) should be enough to clear all doubts about whether Cowrywise is legit. SEC is one of the regulatory bodies in Nigeria, charged with maintenance of the capital market.

This body oversees and ensures transparency of its members, Cowrywise being one of its acquisition will have no choice but to follow the laid down rules. Be rest assured that your money is safe and cowrywise is here to stay.


There are many options opened to fund your wallet, they are via the bank, cowrywise stash, and debit card.

1. Funding Via Debit Card

  1. To fund via debit card after registration, choose “Banks & Cards” or “Payment Option” if you are using a browser.
  2. Follow prompts to complete the funding.

2. Funding via bank transfer

  1. Another way to deposit money into cowrywise wallet is through bank transfer.
  2. Go to to generate a one time account number.
  3. Payments can then be made using USSD, internet banking or mobile banking app.

3. Funding your cowrywise wallet using stash

Another way to fund your wallet is through cowrywise wallet. Here is how it works, get your stash account number from the platform, send payment using mobile transfers or USSD and have your wallet funded. The funds in your wallet can then be transferred to any of the plans.

You will also be able to send the stash to another cowrywise user or to any bank in Nigeria. Customers will find the option for Stash at the bottom right of the app.

N100 will be charged at the point of adding your card, this is just to verify your details and the money will be credited to your wallet.


  • To withdraw your money from your wallet on cowrywise, log in with your details.
  • Choose the plan that has already attained the maturity date.
  • Click “Withdraw” and enter the amount.
  • Withdraw to your bank or to cowrywise stash.
  • Follow prompts to complete the withdrawal process. You will get your money within a few hours.
  • If you are yet to add your bank details, go to Banks > Banks & Cards > enter your bank account details, and click save.

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One Response

  1. Fargadt8 October 5, 2022

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