One major question people ask about saving and investing is how safe and secure is Cowrywise. At Cowrywise, security is a priority for us. We ensure that your savings and investments are very well protected. In this article, we’ll be clearing any doubts you might have about the security structure of Cowrywise?
Where is Cowrywise located?
We have a beautiful office space located in the heart of Ikeja, Lagos; one you can always visit. Our address is 5C, Rev. Ogunbiyi Street, GRA Ikeja. We’d be glad to have you stop by sometime!
Is Cowrywise regulated by the CBN or the NDIC?
The NDIC is the body that insures bank deposits. Cowrywise is an investment platform that secures its funds through a trustee partnership with Meristem Trustees, a firm regulated by the Security and Exchange Commission (SEC). The SEC, just as the CBN is to banks, is the overall regulatory body for investment platforms.
Who is Meristem Trustees?
Meristem Trustees is a subsidiary of Meristem Security Limited, a capital market conglomerate which is regulated by the Securities and Exchange Commission (SEC). The role of a trustee is to ensure that your funds are 100% secured. They make sure that we invest your funds in the promised secure options, and that you earn accurate interests.
What does Cowrywise invest in?
Cowrywise helps users who opt-in for interest to invest their savings in treasury bills, government bonds and high-quality commercial papers. These choices of investment are motivated by the desire to provide our users with low-risk investment options that still yield high returns. Globally, treasury bills and government bonds are adjudged to be the most secure investment options.
Why does Cowrywise require my debit card details?
All transactions are done using your debit cards as we help take away the hassle of banking halls. Payments are made via your bank-issued debit cards, secure and seamless. Have no worries though, our payment processors are PCI DSS compliant (globally certified) to ensure all delicate details are encrypted and rendered unreadable.
How does Cowrywise offer high returns?
Your saved funds are invested are securely invested on your behalf for the duration you choose. Our investment portfolio is a fine mix of both high quality and low-risk financial instruments issued by both the Central Bank of Nigerian (CBN) and the Debt Management Office (DMO). The interest earned on your savings is earned from the returns of those instruments.