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Piggybank Or Cowrywise - Business (4) - Nairaland

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Re: Piggybank Or Cowrywise by Esiakbolt: 9:36pm On Nov 03, 2018
Clarathomp:


I know nothing about piggybank but I use cowrywise and I like it for these reasons

1. It's very user friendly. Everything about the website and setting up my account was easy, no hassles.

2. Responsive & helpful customer service. The chat message platform on their site is active.You receive a response to your questions or complaints within a few minutes of communicating it.

3. Remarkable client services. I like the articles they send me via email on financial matters. Cowrywise has helped to educate me and keep me well informed about finances, savings & investments through those articles.

I like to read so their articles are appreciated. If you don't like to read their emails may feel like a bother & a nuisance grin

4. They have different saving platforms, suitable for different needs.

I like, enjoy and appreciate their product & services. I will gladly recommend them any day, any time.

2 Likes 1 Share

Re: Piggybank Or Cowrywise by theunnamed: 10:15pm On Nov 03, 2018
SenatorAiyzik:



Will you keep quiet! How much is it you want to even save sef that you are talking of trust?? Mtchew angry




So even if I picked the money on the ground, I should go and put it where I feel is not safe...

I'm pissed, but I no go belittle you. Just sit down and think about the shît you posted for thousands of people to see

6 Likes

Re: Piggybank Or Cowrywise by Olalekank(m): 1:27am On Nov 04, 2018
theunnamed:




On top person money again grin
Loll I no gree understand

1 Like

Re: Piggybank Or Cowrywise by Afroconomist: 9:44am On Nov 04, 2018
Cowrywise is a saving and investment company with the aim to help her users build/sustain wealth via disciplined, consistent and secured saving that leads to investments. We make this service seamless and charge-free for all our users.

CowryWise is a registered firm with its assets held and monitored by Meristem Trustees Limited, an SEC-registered company.

Cowrywise is not a bank but a financial technology company registered and licensed to help people save, invest and build wealth.


There are different saving and investment options you can choose from

1. Periodic plans help you save and invest daily, weekly or monthly with any amount. They can also be topped asides the regular automated payments. The minimum duration for this plan is 90 days.

2. The Life Goals plan works similarly to the periodic plan but would have to be locked up for at least a year. This plan helps you to save for your long-term financial objectives like your child's education, your wedding, a vacation, a business or even retirement.

3. With Save As You Earn, assuming you do not have a regular income, you can save and invest as the money comes. This plan is not automated like the periodic or life goal plan.

4. For Fixed deposits, you get to set aside a lump amount of cash to be locked away for a period of time. This is the only plan that cannot be topped up.

5. The Interest-Free Savings is similar to Periodic Plan except that it does not earn interest. This is particularly suitable for Muslims who do not want interest on their savings.

6. The one-time saving feature is what allows you manually save into any of your existing plans at any time at all.

You can have as many plans as possible by the way.

1 Like

Re: Piggybank Or Cowrywise by mummyz(m): 12:41pm On Nov 04, 2018
Hi, i just saw this article today and decided to share my view tho before i started saving i went trough lot of research and write up but this was the write that confuse me, read below.....

WHY I MOVED MY MONEY FROM PIGGYBANK TO COWRYWISE
Please note that both Cowrywise and Piggybank have made changes to their platforms since I wrote this blog post.

You might remember my blog post where I spoke about saving with Piggybank. Well, I have moved the money I saved there to Cowrywise and I want to explain the reasons why; I cannot recommend something, stop using it and then not inform my blog readers. So here are the reasons I moved my money from Piggybank to Cowrywise:

Higher Interest Rate: I am all about making my money work hard for me so this is of course the number 1 reason why I moved my money to Cowrywise. While Piggybank offers an interest of 6% p.a. when using the Autosave option, Cowrywise offers an interest rate of 10% p.a. Cowrywise also pays interest daily which means the effective annual rate of return is actually higher than 10% while Piggybank pays interest every 3 months. And while Piggybank offers an interest rate of up to 10.95% (when you lock the money away for a year) when you using the SafeLock option, Cowrywise offers an interest rate of up to 15% when you lock away your money with them for a year. I could really end here and this would justify why I moved my money.


No penalty on withdrawals: If you read this post I wrote for DailyKobo, you will see that one of my financial goals this year is to increase my emergency fund. It was not something I focused on as much last year because I was paying for ICSAN classes and exams but I have no excuse this year. Therefore, the fact that Cowrywise has no penalty for withdrawing at any time is great because it means I can use the platform to build my emergency fund and know I can have access to it without being penalised if I have to withdraw money because an emergency comes up. While I was using PiggyBank I had to keep my emergency fund in a regular savings account because Piggybank penalises your interest if you withdraw on any day other than 4 set days in each year. An emergency fund has to be extremely liquid and Cowrywise gives me that. I am very disciplined about my savings and investment goals so I am not worried that having no penalty on withdrawals will cause me to withdraw my money arbitrarily.
So I get to grow my emergency fund at a faster rate because I am using Cowrywise. P.S. I also prefer the layout of the Cowrywise website over that of Piggybank. Do you use Cowrywise or Piggybank to save? If you do, why did you pick one over the other? I know some people do not like the fact that Cowrywise does not have an app but I do not mind.
Re: Piggybank Or Cowrywise by barristerzinny(f): 4:58pm On Nov 04, 2018
theunnamed:





In my case I didn't know what I was getting into, I just told the lady I wanted a savings account.

But just walk into any access bank and tell them you want to open a target savings account.
i already have a savings account with Access, it was my NYSc salary account back in 2016. So can it serve as a target savings or I need to open a new one?

2 Likes

Re: Piggybank Or Cowrywise by theunnamed: 9:10pm On Nov 04, 2018
barristerzinny:
i already have a savings account with Access, it was my NYSc salary account back in 2016. So can it serve as a target savings or I need to open a new one?




They'll have to upgrade it or something 'cos the target savings account and the "savings account" aren't the same. I had one of those too, but I told them to close it
Re: Piggybank Or Cowrywise by Chugabags: 6:33am On Nov 05, 2018
I read through this and started on piggybank.

My thoughts are that it's great for saving at 10%, I have been rolling over.

I did a few autosave and liked the idea (Its like mini treasury bills), then I learnt about target saving and even started my own

https://www.piggybank.ng/challenge/4ff21c5a0cc69

My question to all mathematicians and statisticians here is

If I want to save 10k a month for a year. Is it better to lock it away every month till the end of the year at 12%? Or put it in target savings at 10% pa then add on the daily interests so it is like compound interest?
Re: Piggybank Or Cowrywise by Feranmi0402: 7:49am On Nov 05, 2018
Quite simple. You can visit cowrywise.com to get started or download the app from playstore or the app store

spiritofthedead:
So my question is how does one cowrywise
Re: Piggybank Or Cowrywise by Feranmi0402: 7:59am On Nov 05, 2018
Femo! A company that got admitted into Ycombinator and has processed over $1.5 million in investments and has thousands of users, all within a year, isn't popular?
femi4:
What is cowrywise? That's not popular
Re: Piggybank Or Cowrywise by Feranmi0402: 8:01am On Nov 05, 2018
Cowrywise allows for withdrawals after your plan is unlocked. The idea is to help you build wealth through discipline and not to serve as another bank account.
Chukwudaalu:
I use CowryWise though, and I've had no issues with them.
You can't withdraw anyhow you like. And there's an interest rate of 10.5% P. A
I have no idea of how Piggybank works. But I think it's also reliable, based on the above comments. The Choice is yours.

1 Like

Re: Piggybank Or Cowrywise by Feranmi0402: 8:11am On Nov 05, 2018
Cowrywise is a personal advisor that helps you plan your investment journey and securely automates your savings and investments towards your goals.
vivaciousvivi:

Pls explain what cowrywise is.
Never heard it before.
In the meantime, I would advise you critically weigh both options as per pros and cons and pick for yourself.
Re: Piggybank Or Cowrywise by emperorblog(m): 8:38am On Nov 05, 2018
mummyz:
Hi, i just saw this article today and decided to share my view tho before i started saving i went trough lot of research and write up but this was the write that confuse me, read below.....

WHY I MOVED MY MONEY FROM PIGGYBANK TO COWRYWISE
Please note that both Cowrywise and Piggybank have made changes to their platforms since I wrote this blog post.

You might remember my blog post where I spoke about saving with Piggybank. Well, I have moved the money I saved there to Cowrywise and I want to explain the reasons why; I cannot recommend something, stop using it and then not inform my blog readers. So here are the reasons I moved my money from Piggybank to Cowrywise:

Higher Interest Rate: I am all about making my money work hard for me so this is of course the number 1 reason why I moved my money to Cowrywise. While Piggybank offers an interest of 6% p.a. when using the Autosave option, Cowrywise offers an interest rate of 10% p.a. Cowrywise also pays interest daily which means the effective annual rate of return is actually higher than 10% while Piggybank pays interest every 3 months. And while Piggybank offers an interest rate of up to 10.95% (when you lock the money away for a year) when you using the SafeLock option, Cowrywise offers an interest rate of up to 15% when you lock away your money with them for a year. I could really end here and this would justify why I moved my money.


No penalty on withdrawals: If you read this post I wrote for DailyKobo, you will see that one of my financial goals this year is to increase my emergency fund. It was not something I focused on as much last year because I was paying for ICSAN classes and exams but I have no excuse this year. Therefore, the fact that Cowrywise has no penalty for withdrawing at any time is great because it means I can use the platform to build my emergency fund and know I can have access to it without being penalised if I have to withdraw money because an emergency comes up. While I was using PiggyBank I had to keep my emergency fund in a regular savings account because Piggybank penalises your interest if you withdraw on any day other than 4 set days in each year. An emergency fund has to be extremely liquid and Cowrywise gives me that. I am very disciplined about my savings and investment goals so I am not worried that having no penalty on withdrawals will cause me to withdraw my money arbitrarily.
So I get to grow my emergency fund at a faster rate because I am using Cowrywise. P.S. I also prefer the layout of the Cowrywise website over that of Piggybank. Do you use Cowrywise or Piggybank to save? If you do, why did you pick one over the other? I know some people do not like the fact that Cowrywise does not have an app but I do not mind.

helllo am i d one dhat will be adding money to d cowrywise weekly or dwy will be removing d money from,my bank acct. because i register on nov2 and set it to weekly dey have nor deduct any money from,my acct
Re: Piggybank Or Cowrywise by hexpleecit: 10:15pm On Jan 01, 2019
DivineIsGreat:
Any interests rate on this

...I need to start saving for my girl's education from now.

Happy New Year yes there is interest on it. Let's chat on 08085108953. Have a prosperous year
Re: Piggybank Or Cowrywise by Olayinka777(m): 11:00pm On Jan 01, 2019
Offpoint:
Open a new bank account and don't issue for ATM, don't use mobile banking app and don't use USSD.... you're good to go.
I totally disagree!
In Nigeria instead of the money u have in your bank account to increase reverse is the case by way of SMS charges etc. U collect ATM or not.
I recommend Cowrywise because I use them and they are highly trusted and cool.

2 Likes

Re: Piggybank Or Cowrywise by Offpoint: 10:55am On Jan 02, 2019
Olayinka777:
I totally disagree!
In Nigeria instead of the money u have in your bank account to increase reverse is the case by way of SMS charges etc. U collect ATM or not.
I recommend Cowrywise because I use them and they are highly trusted and cool.
I'll look it up.
Re: Piggybank Or Cowrywise by segunednut: 9:34am On Jun 26, 2019
eagleae7:


Just a new savings account, don't request for ATM, sms alert(email statement is good enough)..., you can also ask for a debit freeze on the account. This way you can't withdraw from the account except you deactivate the debit freeze.
You'll also have 6% intrest depending on your bank

Might as well burn money. Inflation is at least 10-12%, so your money dey move to negative
Re: Piggybank Or Cowrywise by Simran94(f): 7:45pm On Aug 16, 2019
aezenkwu:
I use cowrywise and they are okay
Hello, do you still use cowrywise?
Re: Piggybank Or Cowrywise by aezenkwu(m): 11:23pm On Aug 16, 2019
Simran94:

Hello, do you still use cowrywise?


Yes big time with piggy bank.
Re: Piggybank Or Cowrywise by djdeafearz(m): 5:50am On Oct 23, 2019
W3xy1:
I use piggybank too
Say I start with a 100k how much interest will I get monthly
Re: Piggybank Or Cowrywise by W3xy1(m): 10:12am On Oct 23, 2019
djdeafearz:

Say I start with a 100k how much interest will I get monthly
the longer you safelock your cash the higher your interest.

Re: Piggybank Or Cowrywise by Sammytee001(m): 6:49pm On Dec 01, 2019
If you've not started saving on cowrywise, start now
https://get.cowrywise.com/r/samueL2A
Re: Piggybank Or Cowrywise by officialfestus(m): 7:19pm On Dec 01, 2019
kaibamapolia:


12.44% is for safe lock. core saving and chanllege is 10%
monthly?
Re: Piggybank Or Cowrywise by godblessenugu042(m): 1:11pm On Dec 09, 2019
officialfestus:
monthly?
nope...that the interest rate per anum. Say you save up to 100k, you will get 10k at the end of the year at 10% interest rate.. 5k in 6 month at the same interest rate ..you can do the math of how much you will get in a month

Re: Piggybank Or Cowrywise by officialfestus(m): 1:51pm On Dec 09, 2019
godblessenugu042:
nope...that the interest rate per anum. Say you save up to 100k, you will get 10k at the end of the year at 10% interest rate.. 5k in 6 month at the same interest rate ..you can do the math of how much you will get in a month
thanks for the info
Re: Piggybank Or Cowrywise by Druss(m): 11:15am On Jan 19
What is the cowrywise rate now? My wife is interested in it. If it is a personal investment app, I am not so thrilled as I handle my own investment.
Re: Piggybank Or Cowrywise by HRSupport: 3:02pm On Jul 01
Druss:
What is the cowrywise rate now? My wife is interested in it. If it is a personal investment app, I am not so thrilled as I handle my own investment.

Check out this cowrywise review to see their latest rates.

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