So you have learned about Piggyvest, probably registered and would like to know how to withdraw money from Piggyvest. It is a straightforward process, but you have to understand the basics.
All the features in Piggyvest were designed for different purposes; so the way to withdraw money from each of them is quite different.
For example, the way you withdraw from your Piggybank core savings is different from how you can withdraw from your Safelock.
In this article, you will learn how to withdraw money from the various Piggyvest features.
Contents
How to Withdraw money from Piggybank (Core Savings)
The Piggybank feature in Piggyvest works like your traditional piggybank (what we call kolo in Nigeria); You can put money into it but it’s not too easy to get money out of it. See the image below.
Piggyvest allows you to withdraw money from your Piggybank but they put some limitations so that you do not withdraw from it all the time; just like the traditional kolo we all know.
You are allowed to withdraw from your Piggybank account without any extra charges only four times in a year, these four times are called withdrawal-free days.
You are also allowed to withdraw outside the withdrawal-free days but you will be charged 5% of the total money you want to withdraw.
The default withdrawal-free days are March 31st, June 30th, September 30th and December 31st.
When you withdraw from your Piggybank account on any of the days mentioned above, you will not be charged any extra money. But if you withdraw on any other day, you will be charged 5% of how much you want to withdraw.
How to Withdraw from the Piggybank Feature;
Step 1: Open the Piggyvest app or log in to the website and click on Piggybank. If you are using a mobile phone, click on My Savings > Piggybank.
Step 2: Scroll down and click on Withdraw from Piggybank.
Step 3: Scroll down to where you see the withdrawal form, fill in the amount you want to withdraw, select where you want Piggyvest to charge the 5% withdrawal fee, fill in the other options and click make withdrawal.
If you are withdrawing on a withdrawal-free day, you will not see any option asking where you want the 5% withdrawal will be deducted from.
Please note that the minimum amount you can withdraw is 3,000 Naira.
Step 4: A notification will come up asking you to confirm if you really want to withdraw the money. Click on confirm to process the withdrawal.
The money will be sent to the bank account in your Piggybank settings.
How to Withdraw Money from Piggyvest Safelock
The Safelock feature was designed for you to lock money until the day you set for withdrawal. This feature is best if you do not trust your spending habit.
Once you lock money in the Piggyvest Safelock feature, you cannot withdraw from it until the day you set for withdrawal. When the withdrawal day is due, the money will be sent to your Piggyflex account where you can withdraw from for free.
Here’s how to withdraw money from Piggyvest Safelock;
Step 1: Wait for the day you set for withdrawal. You can see the date by logging into the Piggyvest website or app, click on Safelock, view Safelock. At the bottom of the money you locked, you will see the date the money will be due for withdrawal.
Step 2: When the money is due, it will be sent to your Piggyflex account.
Step 3: Open the PiggyFlex feature to withdraw your money.
Keep reading to learn how to withdraw from Piggyflex.
How to Withdraw from Piggyvest Target
The target feature was designed to help you save for a cause with a group of people or individually. Once you have reached the target, the money is automatically sent to your Piggyflex account.
If you break the target before the stipulated date, you will lose all the interest earned from the target and you will bear the 1% payment gateway charge.
Piggyvest uses Paystack as a payment gateway to deduct money from your account. Paystack charges Piggyvest for every deposit you make from your bank or debit card to Piggyvest. If you break your target savings before the stipulated time, you will pay for the transaction charges.
To withdraw from your flex, there are two options, it is either you wait for the due date for the money to be sent to your Piggyvest Flex account or you break the target before the due date.
How to Withdraw from PiggyFlex
This is where all your interests, bonuses matured Safelocks and investments are paid into.
Withdrawing money from Piggyflex is entirely free.
Follow the steps below to withdraw from Piggyflex;
Step 1: Open the Piggyvest app or log in to the website.
Step 2: On the app, click on savings > Flex Naira. If you are using the web version, click on Piggyflex from the dashboard. See the image below.
Step 3: Click on Withdraw.
Step 4: Enter the amount you want to withdraw and fill the other necessary details.
Step 5: Click on Make Withdrawal button.
The funds will be sent to your bank account as soon as possible.
Please note that you can only withdraw once every 10 hours and the minimum amount you can withdraw is 2,000 Naira.
Conclusion
Piggyvest is a great app for saving money. If you have used the app for a while, you will notice how easy it is to deposit money into your Piggyvest account and some limitations when you want to withdraw money from Piggyvest.
The whole idea is to help you save money, hence the limitations.
You could use the money you saved on Piggyvest to pay your dues and flex, starting up a business and investing should also be part of your list of things to do with money.
Hope I can withdraw all my money at once
Hello
I tried making a withdrawal from my flex account but it was denied and flagged saying the bank account I’m withdrawing to doesn’t match my bank name
What’s that ?
If you don’t get it after some hours, you can contact support.
Pls What do I do when I haven’t received payment to my bank account from my flex account after withdrawal has been made?
I want to transfer money from my flex account to another piggyvest user, the otp sent was filled in and it kept telling me to use the other sent, they keep sending more otp and none is working, why please?
Good morning sir
Has this worked for you? If not contact Piggyvest support on twitter.
How can one withdraw all the funds at once, On the set withdrawal day???
The have been sending me opt number since I forgot mine when I try to out it not working pls I need your help
Pls how can I withdraw without inputting otp. I’m no longer using the line I’m suppose to receive the otp. Pls is there any solution to this?
Contact Piggyvest support to resolve this issue.
Have fill in all the withdrawal details, now telling me otp code and I have insert it. When I click on withdraw. It is not loading. Why is it so
How do I redeem my #1000 bonus and how do I transfer it when received from pigy flex to pigy bank on the platform, pls I’m using web and I need a clue
You can only retrieve it when your referrals fund some money into their Piggybank account.
You referral must fund their piggy bank package and another piggy vest package with a minimum of #1000 each, the referral sum will be safelocked for 10 days after which it will automatically be credited to your piggy flex account.
I am trying to put my bvn to my piggyflex account. It’s saying they are going to call me for the verification and i have not seen the call
I want to withdraw my money
Nd m typing my password is telling wrong password
How will change d password
You can reset your Piggyvest password by clicking here.
Pls I hope anytime I want to withdraw they won’t ask me for my Bvn
How much is the minimum you can withdraw
My date is due but I can’t withdraw, it’s still showing me ongoing upon this is one day after my due date
I have not experienced this before, you can contact Piggyvest support on Twitter for this.
Please am unable to transfer money to my piggyflex acct, it says invalid details and still repeating it
Are you transferring from your bank to Piggyflex or what method are you using?
Pls how do I unflag my account
Contact customer care to do that.
Good day. I have already finished my target even before the withdrawal date. I proposed December as a withdrawal date, not knowing that God can do it even before the date. I target #750k and I have completed it but the challenge is I have safelocked the account. Do I have to wait till my due date, December before I can get my money back, or I can get it now? Thanks.
You have to wait till December since you locked the target. On the due date, all the money will be transferred to your Piggyflex account, from Piggyflex, you can send it to your bank account.
I was robbed and my phone was taken away from me
Yesterday I noticed someone is trying to withdraw money
Through my yahoo mail. What can I do pls
Contact Piggyvest on Twitter to lock your account. While they are at it, you can change the password to your email and Piggyvest account.
i have been adding my bvn number but they haven’t call me or send me the code
I set my own withdrawal day but 5% charges was applied please help coz I don’t understand…..
If you are withdrawing on the day you set for withdrawal there shouldn’t be any fee for withdrawal. If you think there is a problem somewhere, you should contact Piggyvest support on Twitter or email.
Pls i want to change the bank account on my piggyvest and put a new bank account
To change your bank account on Piggyvest, login to your Piggyvest account and go to Account ==> my card and bank settings ==> withdrawal settings ==> update your bank settings.
I did but don’t reply to me please how can you help me
Only Piggyvest support can resolve the issue for you. You can try to email them too.
Please how can I transfer money from my account to piggy vest account?
You have to add your debit card (ATM card) to Piggyvest. You can do this by going to Account > my card and bank settings > debit card
Pls I am trying to make withdrawal but they are telling me my debit card is linked to another piggyvest account,what should I do
If you don’t remember linking your card to another Piggyvest account, you should contact Piggyvest on twitter @PiggyBankNG
Please I want to unflagged my account
You have to contact Piggyvest for that. You can contact them via their twitter handle @Piggybankng
So you mean to say that, once the day reaches I can transfer my safelock to my piggy flex? Because am completely lost, am seeing different instructions in different sites
Hi David. Once the withdrawal date is due, the money will automatically be sent to your Piggyflex account. From your piggy flex, you can transfer it to your bank account.
Good morning …pls how can temporal be remove in my account I want to redraw to get items for my family ..pls
Have you added your BVN to Piggyvest? If you have and you didn’t violate any rule, just message them on Twitter. They reply quickly. Their handle is @Piggybankng