How to Withdraw Your Money on Cowrywise

Cowrywise Withdrawal Process

As soon as the locked-up date for any of the savings plans reaches the maturity date, you can withdraw the money anytime. As a smart investor, you should know by now the longer you locked up your funds, the more returns you will earn.

Requirements for Withdrawal on Cowrywise

Some basic requirements are needed to enforce smooth withdrawals and are not a barrier because every user should be familiar with all of them.

Here are some:

A savings plan: You must have a current plan which you intend to withdraw from. Also, this plan should be in the maturity stage as funds locked up cannot be broken.
A bank account: You must have linked a bank account or debit card with your Cowrywise. This ensures that the process is being carried out by the real user.
Lock-up date: The plan must have reached the locked-up stage you set. Unlike the Piggyvest app, you cannot withdraw outside the maturity date.
Stash account: Each user has a Stash account where funds can be withdrawn before they can transfer to a bank account. Ensure that your Stash has been set up and working.

Anyone using Cowrywise is aware of these basic requirements as they tend to work in line with the platform objectives and core values.

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How to Withdraw From Cowrywise

To initiate a withdrawal, simply follow these simple steps:

Step 1: Log in to your account: Log in to access the dashboard.
Step 2: On the dashboard, click Save to select any of the plans you’re using.
Step 3: Click the plan you want to withdraw from, and it will bring you to another page.
Step 4: On the next page, you’ll see a button that says Stop Saving. Click Transfer to Stash.
Step 5: Select Withdraw to Stash as the money can only be withdrawn to Stash.
Step 6: Click Proceed then select the amount you want to withdraw to continue.
Step 7: Set a new maturity date for subsequent savings.
Step 8: Choose if you want Cowrywise to automatically save for you or if you would prefer to save by yourself.
Step 9: Next, click Make Withdrawal to send your funds to Stash, from there, you can transfer to your bank account.

This is how to withdraw funds from Cowrywise accounts after the maturity date, and you can complete this process with other plans in case of next time.

How to Withdraw from Stash

To move money from Stash to your bank, click Stash on the homepage.

Click on Transfer and select the transfer to bank option.

Select or type a different amount you want to withdraw to continue.
Cowrywise charges a withdrawal fee of N25. So, take note before proceeding.
Enter your account password to authenticate the withdrawal.
Funds will be sent to your bank account immediately.

How to sign up with Cowrywise

In case you don’t have an account and this is your first time, you can create one by following the steps below:

Step 1: Download the app: First, install the app from the website or directly from the play store.
Step 2: Grant some permission if requested. You are permitting the app to access some basic information about your phone and settings.
Step 3: Click the Create an Account button, enter your email address, and click Continue.
Step 4: Enter valid details about you. Like name, surname, phone number, and password. Once you’re done, click Continue.
Step 5: Enter your BVN. The BVN should belong to you because this will be used to create a virtual account with any of the Nigerian banks. So, enter a valid BVN, and date of birth, then click Verify BVN to continue.

Step 6: Click Secure My Account to start the onboarding process.

Step 7: Create a unique PIN for transactions any time you want to either withdraw or change things.

Step 8: Set a security question. This is the question you’ll be asked whenever you changed devices or get locked out. Ensure you set a question you can remember. In addition, you can write down the question and answer on a notepad for future reference.

Step 9: Set a primary device. Confirm your current device so that no one gets access to your account except you.
Step 10: You’re set and ready to explore. Start from any of the wealth-building tools and begin your journey with Cowrywise.

That’s how to create an account, download the app, verify, and start investing/saving with Cowrywise effortlessly. The process is simple but make sure you are adding genuine information about yourself.

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Frequently Asked Questions (FAQs)

Can I withdraw before the maturity date?

With emergency savings or funds, you can withdraw a certain amount from your account when you urgently need money to finance an important issue.

The emergency savings helps you resolve such a challenge. That’s why it is called emergency savings, to help in times of need at any given point. However, some preconditions may differ from user to user, especially for new users.

Apart from that, you cannot withdraw from any plan until your savings reaches the maturity date. Read this article for more about emergency savings.

Can I change my maturity date on Cowrywise?

You can only extend the maturity date. What this means is that you cannot decrease the maturity date. To promote fairness, Cowrywise allows users to set a realistic date that is suitable for them to achieve.

Can I withdraw my Cowrywise investment before maturity?

If there is a premature withdrawal for investments on Cowrywise, you’ll see a notice on the dashboard in the app as you are investing. Simply note, it may not be possible to withdraw outside the maturity date. However, you can contact support for more information.

How much does Cowrywise charge for withdrawals?

A withdrawal fee of N25 is charged when withdrawing funds from your Stash account and you can confirm the details before you continue.

It is important to know every transaction fee of Cowrywise before making withdrawals, as this aid in promoting saving culture and limits the number of ways people tends to withdraw their funds.

What is Cowrywise customer number

You can reach out to customer support for assistance if you need additional help regarding withdrawal fees and expenses before making transactions. To contact support, simply send a message as an email to support@cowrywise.com, or call their number 0903 000 0857.

What is Cowrywise Stash?

Stash helps you save money anytime you need to invest and subscribe to a savings plan. It serves as a bank account but is known for its virtual capabilities. When you create an account on Cowrywise, you’ll be given two or more accounts that you can send money to. These accounts are then linked to your Stash. As you make payments into these accounts, it reflects on your Stash Balance immediately.

Read more about Cowrywise Stash in this article for a better understanding.

That’s A Wrap!

I hope this post has taught you how to Withdraw and do other pertinent stuff on Cowrywise. This app is easy to use even a beginner can grasp it on their first attempt. Remember the withdrawal fees before withdrawing your money.

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