Frequently Asked Questions


What Is CowryWise?

CowryWise is a personal finance platform. CowryWise automates your savings, taking away the stress and planning required to save on a regular basis. Your saved up cash also generates interests over a period of time.

Why should I save on CowryWise?

CowryWise is simple to use and absolutely rewarding. CowryWise is suitable for users who:

  • Want to grow wealth through regular, disciplined savings and investment
  • Want to earn interests higher than what their banks can give
  • Want to be meet their financial goals with professionally developed financial tools
  • Want to keep their savings for long periods of time without having access to it

How are you able to offer higher returns than traditional banks?

This is simple. We do not have the high cost base of traditional banks. Our operations are lean and we invest your savings in risk free instruments offered by the Nigerian government and a few low-risk investment opportunities such as corporate bond and commercial papers. The cost savings are passed to our savers in form of higher returns on their savings.

What kind of debit cards can I use on CowryWise?

Cowrywise accepts debit cards issued by all Nigerian banks.

Do you currently grant loans?

At the moment we do not give loans on this online platform. We only accept savings and your savings are fully invested in risk-free government instruments.

Savings & Returns

How much can I save on CowryWise?

You can start your saving plans with as low as ₦100 (One hundred Naira). We do not have an upper limit. You have a billion Naira you want to save with us? Please go ahead.

How frequently can I save?

You can set your saving plan(s) to be daily, weekly or monthly. You only need to specify this once and CowryWise ensures money is saved automatically on specified days into your Cowrywise account.

How many saving plans can I create?

You can create as many saving plans as you wish. Housing Plan, Car Plan, Wedding Plan, Education Plan, Children Plan, Vacation Plan and so on. You have the flexibility to give each plan a unique name that resonates with your saving goals.

How long can I keep my savings with CowryWise?

There is a minimum duration of 90 days and no maximum time limit. You can keep your savings with us for as long as you wish. Remember, we make everyday count by making your savings earn return daily.

Can I put my saving plans on hold?

Yes. You can do that by click of a button. Edit your savings plan and select “hold” on our user-friendly dashboard. Once you do this, all automated savings on your account are immediately put on hold. You can reactivate your plans once you are ready to continue.

When does my saving begin to earn returns?

Your savings start to earn return the following day you begin saving on Cowrywise and on daily basis thereafter. Your daily returns are credited to your Cowrywise account by 12 midnight each day.

Can I monitor my savings and returns?

Absolutely. Our dashboard was designed with this objective in mind. You can monitor the progress on your savings and returns on daily basis on our interactive and graphical dashboard. Besides, we also push instant notifications to your verified email address and phone numbers on key transactions on your Cowrywise account, so nothing goes unnoticed or unapproved by you.

What rate of return do I earn on my savings?

We offer you a minimum of 10% per annum on any every saving you make and this return acrues to you on daily basis. If you choose our Fixed Savings Plan, you can earn up to 15% interest per annum. This compares with 4.2% that banks give on your savings account which you can only get if you dont withdraw more than 4 times in a month.

Fees & Charges

How much do you charge?

CowryWise is completely free: no hidden charges, no penalties, no SMS fee, no account maintenance fee. We mean it.

Safety & Security

How secure is my information?

CowryWise was built with security in mind. Critical customer data is encrypted and securely stored. We do not store your card information as we work with a PCIDSS-compliant payment processor to handle all our customers’ card details.

How safe is my money?

In addition to investing your money in risk free instruments, invested assets are held by Meristem Trustees, a company registered with the Security and Exchange Commission (SEC), on behalf of savers. These assets are marked to market periodically to ensure savers are not exposed.

What is the role of Meristem Trustees?

Meristem Trustees is a subsidiary of Meristem Wealth Management Limited. The company was incorporated by the Corporate Affairs Commission as a Private Limited Liability Company in April, 2012 and duly licensed by the Securities & Exchange Commission (SEC) to carry out the functions of Trustees in the Capital market in June 2012.

Meristem Trustees holds all invested assets on behalf of savers. This makes your money absolutely safe.


When can I withdraw my money?

For unlocked plans, you can withdraw some or all of your savings together with interest anytime without any restriction or penalties. For locked plans and fixed investments, withdrawals are restricted to a period after plan maturity. The longer your money stays on Cowrywise, the higher the interest you will earn as your hard earned savings get returns everyday.

How do I withdraw my money?

Withdrawing your money is as simple as simple as giving an online instruction. Log in to your Cowrywise account, provide details of the account to be credited (if you have not done so) and specify the amount to be withdrawn. You will get value in a short time at no cost at all.

Our People

Who is behind CowryWise?

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

CowryWise is run by finance and technology professionals with over 20 years aggregate domain experience. On our team is a CFA charterholder and technology solution architects. You’re rest assured your savings are in safe hands. Read more about our team