Category : Savings

How Cowrywise Works – How To Save Money With Cowrywise

How Cowrywise Works – How To Save Money With Cowrywise

The simple step by step guide on how to save money in Nigeria with Cowrywise. Here’s how Cowrywise works.

1. How To sign up on Cowrywise

Signing up on Cowrywise is super easy and fast.
A. Visit cowrywise.com and click on Sign Up
B. Fill in the fields: Names, email address and phone number
C. Verify your phone number by supplying the OTP sent to your number
D. Activate your account by clicking on the activation email in your inbox

2. How To add a new card

If your existing card expired or you want to change the card attached to your existing Cowrywise account, follow these steps.

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A. Login to your Cowrywise account
B. Click on Banks and Cards
C. Click on Add Debit Cards
D. Add your new card details. We will verify your card by saving N100 from the card into your default saving plan. Your default saving plan is the first periodic plan you create.

3. How To pause a periodic saving plan

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If you wish to put your periodic saving plan on hold for a while, you can do that easily in these 3 steps:
A. Login to your Cowrywise account
B. Click on My Plans
C. Click on “Edit” on the plan you wish to put on hold
D. Select the “Hold” option on the Plan Status field.

4. How To lock a periodic saving plan

You can place your existing Periodic Plan under lock without having access to withdraw until a specified date:
A. Login to your Cowrywise account
B. Click on My Plans
C. Click on the padlock icon on the plan you wish to lock.
D. Select your preferred withdrawal date on the form that comes up. You are done.

5. How To adjust the periodic saving plan

A. Log in to your Cowrywise account
B. Click on My Plans
C. Click on “Edit” on the plan you wish to put on hold
D. Adjust the inputs as required: amount, name and frequency of savings.

6. How To create a new saving plan

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If you wish to create another periodic savings plan to towards meeting another financial goal, this is for you.
A. Log in to your Cowrywise account
B. Click on New Plans
C. Select the preferred plan (Periodic or Fixed Plan or Interest-free Plan)
D. Follow the subsequent steps.
Once you finish this, your new plan will appear in the portfolio of your savings plan.

7. How To top up my existing periodic saving plan

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You can save any amount into an existing periodic plan without affecting your regular saving frequency.
A. Log in to your Cowrywise account
B. Click on “Save Now”
C. Enter the amount you want to save and the saving plan to save into
D. This amount will be saved from your active card.

8. How To add a new bank account

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You can save a new bank account to your Cowrywise account by following these steps:
A. Log in to your Cowrywise account
B. Click on “Banks & Card”
C. Click on Add Bank
D. Enter the bank details and verify it.
E. You will receive OTP on your registered phone number to validate this addition.

9. How To delete or deactivate your card

You can either delete or deactivate your debit card. Deletion means the card is permanently removed. Deactivation means the card is rendered inactive. You can activate the same card if you wish.

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A. Log in to your Cowrywise account
B. Click on “Banks & Card”
C. Click on the setting icons on the card you wish to delete or deactivate
D. Select Delete or Deactivate.

10. How To invite your friends To Save Money

You can (should 🙌🏾) invite your friends to join Cowrywise
A. Log in to your Cowrywise account
B. Click on invite friends
C. Copy your unique link and share with them

11. How To update your savings goals

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You can adjust your saving goal on Cowrywise. For example, you might want to increase your goal from N5million to N10million.
A. Log in to your Cowrywise account
B. Click on My Plans
C. Click “Edit” on the plan you wish to adjust
D. Adjust the goal slider to choose your new goal.

Now that you’ve learnt how to save money using Cowrywise, create an account here to start saving and invite your friends.

Happy Savings!

This post remains evergreen. We will continue to update it as we add more features.