Question: Is PiggyVest Regulated?

How do I cancel my PiggyVest account?

You may stop using the Services, close your PiggyVest Account, and cancel these Terms at any time by contacting us at contact@piggyvest.com or 0700 933 933 933 and providing sufficient information for us to verify your identity..

How do you save on PiggyVest?

On the PiggyVest app dashboard, select the “Build your savings” card to begin saving. Doing this will prompt you to tap the “Let’s Proceed” button to set up a saving account — Quick Save or Autosave. Before you proceed though, you will be required to add a debit/ATM card to your account by inputting your card details.

Who regulates FinTechs?

Key Regulators Working with Fintech The Federal Reserve is the primary federal supervisor of state-chartered banks that have chosen to join the Federal Reserve System. The Fed also supervises all bank holding companies, which in many cases have subsidiary banks supervised by other agencies.

Is piggybank Ng safe?

Safe and Secure: While Piggybank is literally not a bank, it is a partner with United Bank for Africa (UBA), a renowned and trusted bank in Nigeria and Africa. That said, Piggybank.ng doesn’t have access to your savings as funds are monitored and held by UBA. More like you are saving in a bank, but not directly.

How do you get OTP on PiggyVest?

To set up your security question, login to your PiggyVest account and click Account > Account Settings > 2FA to set up yours. Tap the orange tab on the page to generate an OTP and then enter your security question and answer.

Are FinTech companies regulated?

Because of the scope, scale, and dynamism of FinTech, the sector is often regulated by multiple regulators, both within certain types (e.g., multiple government regulators) and across types (e.g., governmental, self-regulators, and market regulators).

Can I withdraw all my money from PiggyVest?

Can I choose any amount to withdraw per time? Yes, you can! Simply log into your account and click on the withdraw option, then input the amount you want to withdraw.

Which is better PiggyVest or Cowrywise?

Both Cowrywise and PiggyVest offer great interest rates. While the least interest rate is 10% per year for both, PiggyVest however offers 13% to users locked into its SafeLock plan. Users of the Piggybank and Target Savings get 10% interest. Cowrywise users get 10% for starters across board.

Can your account be hacked with your BVN number?

BVN means Bank Verification Number. … BVN number cannot be used to transfer money from your bank account. It is a rumour that once you give out your bvn number to wrong people, they automatically have access to your account and can steal money from your bank account. This is not true!!!

How do you unlock the PiggyVest SafeLock?

Just login to your Piggybank dashboard. The SafeLock feature is right under the “My Savings” feature.

How do I stop PiggyVest from autosave?

Kindly click on Savings > Piggybank > Settings > Turn off Autosave.

Is PayPal a FinTech company?

Yes, PayPal is a FinTech company. Any company which integrates the financial services with technology is considered as a FinTech company. Among other things, PayPal provides the services of money transaction and online payment making it a FinTech company.

Is PiggyVest insured by NDIC?

100%. We operate as an MFB regulated by the CBN and funds insured by the NDIC. Kindly see piggybank.ng/faq for more information.

Is PiggyVest a bank?

PiggyVest is a digital automated savings and investment platform which allows users to invest spare money with promises of higher interest rates than a typical savings account. … “We offer our users 10 – 13% interests on savings and we have a margin of 3-5% of saved funds taken as revenue.

How do you make money with PiggyVest?

There are four ways you can make money with PiggyVest:Get N1000 from your first savings of at least N1000.Make money from interest on funds placed in your online Nigerian piggy bank.Make money with Piggy Points.Make money with the Piggybank referral Program.

Who created PiggyVest?

The latest episode of First Class Material, features the founders of PiggyVest, Odunayo Eweniyi, 25, and Joshua Chibueze, who first met at their University in Nigeria. Along with Somto Ifezue, who they also met in University, they worked together on a digital job site called PushCV in 2014.

Who regulates PiggyVest?

the CBNPiggyVest on Twitter: “We operate as a Microfinance bank regulated directly by the CBN and funds insured by the NDIC.… ”

What are examples of FinTech companies?

Examples of Fintech-related companies or products include:Payment infrastructure, processing and issuance, such as services provided by Square, Ant Financial, Revolut, and Stripe.Stock trading apps from Robinhood, TD Ameritrade, and Schwab.Alternative lending marketplaces, such as Prosper, LendingClub, and OnDeck.More items…•

Can I trust PiggyVest?

We are also a registered cooperative Piggytech Cooperative Multipurpose Society Limited (Registration number, 16555). All saved funds are warehoused with our asset management partners who are all registered and licensed by the Securities and Exchange Commission (SEC). So yes, your money is safe with us.